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MISY 5370 Mid Term Questions and Answers Graded A+
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Exam of 6 pages for the course MISY at MISY (MISY 5370 Mid Term)
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MISY 5370 Mid TermFirst Development - answer Technological advances, Internet social networks, and data
generated from personal electronic devices.
Second Development - answer Ongoing research has resulted in numerous
methodological developments: Computational advances, Faster algorithms
Third Development - answer Better computing hardware, parallel computing, and cloud
computing
Strategic Decisions - answer Higher-level issues concerned with overall direction. Effect
the overall goals and aspirations.
Tactical Decisions - answer Concern how the organization should achieve the goals and
objectives set by its strategy
Operational decisions - answer Affect how the firm is run from day to day.
Business analytics - answerScientific process of transforming data into insight for
making better decisions
Descriptive analytics - answerIt encompasses the set of techniques that describes what
has happened in the past. Examples - data queries, reports, data visualization, data
mining-techniques, what if models.
Data dashboards - answerCollections of tables, charts, maps, and summary statistics
that are updated as new data become available.
Predictive analytics - answer: It consists of techniques that use models constructed from
past data to predict the future or ascertain the impact of one variable on another.
Prescriptive Analytics - answerIt indicates a best course of action to take
Models used in prescriptive analytics. Ex. Optimization models, Simulation Optimization,
Decision analysis
Big data - answerA set of data that cannot be managed, processed, or analyzed with
commonly available software in a reasonable amount of time.
Tables should be used when - answerThe reader needs to refer to specific numerical
values.
, The reader needs to make precise comparisons between different values and not just
relative comparisons.
The values being displayed have different units or very different magnitudes.
Scatter chart - answerGraphical presentation of the relationship between two
quantitative variables.
Trendline - A line that provides an approximation of the relationship between the
variables.
Line chart - answerA line connects the points in the chart.
Useful for time series data collected over a period of time. (minutes, hours, days, years,
etc.)
Sparkline - answerMinimalist type of line chart that can be placed directly into a cell in
Excel.
Contain no axes; they display only the line for the data.
Bar Charts - answerUse horizontal bars to display the magnitude of the quantitative
variable.
Column Charts - answerUse vertical bars to display the magnitude of the quantitative
variable
Pie charts - answerCommon form of chart used to compare categorical data.
Bubble chart - answerGraphical means of visualizing three variables in a two-
dimensional graph.
Sometimes a preferred alternative to a 3-D graph
Heat map - answerA two-dimensional graphical representation of data that uses
different shades of color to indicate magnitude
Stacked column chart - answerAllows the reader to compare the relative values of
quantitative variables for the same category in a bar chart
Clustered column (or bar) chart - answerAn alternative chart to stacked column chart for
comparing quantitative variables
Scatter chart matrix - answerUseful chart for displaying multiple variables.
Geographic Information Systems (GIS) - answerA system that merges maps and
statistics to present data collected over different geographies
Data dashboard - answerData visualization tool that illustrates multiple metrics and
automatically updates these metrics as new data become available
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