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MSIS 3223 Operation Analytics OKstate Exam 1 WITH 100- SURE ANSWERS
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MSIS 3223 Operation Analytics OKstate Exam 1 WITH 100- SURE ANSWERS
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EUNICEMSIS 3223 Operation Analytics OKstate Exam 1 WITH 100%
SURE ANSWERS
Terms in this set (58)
Operations What businesses do to provide a good or service or to create a good
The application of mathematics, statistics, and visualization to convey meaningful
Analytics
patterns and knowledge from data
Summarize historical data and provide useful information about what happened
Descriptive Analytics
-What happened?
Determine the best future course of action in a given situation based on the current
situation and historical data
Prescriptive Analytics
-What do we do next?
Identify patterns in current and historical data and predict future outcomes and
trends
Predictive Analytics
-What is going to happen?
Rational Making the best decision
the sequence of organizations- facilities, functions, and activities- involved in
Supply Chain
producing and delivering a product or service
Representation of a real thing
Model
Abstraction of reality
Moving to the goal
Productivity
-"Good" output / input X fraction of time thats productive
How good you are relative to someone else
Competitiveness
How effectively an organization meets the wants and needs of customers relative to
others that offer similar goods or services
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