Test Bank Exam for Business Analytic Exam Bundle (Correct Answers)

Input is the information an information system produces and displays in the format most useful to an organization. True or False? - Answer-False The terms "business intelligence (BI) means to transform data into actionable intelligence that informs an organization's strategic and tactical busi...

What is the most important consideration in business analytics? - Answer-Understanding the PROBLEMS and OPPORTUNITIES that the analytical tool will help with and consider the connections. Business Intelligence - Answer--Paved the way for the business analytics. -Caused people to realize that da...

Descriptive Analytics - Answer-the use of data to understand past and current business performance and make informed decisions Predictive Analytics - Answer-predict the future by examining historical data, detecting patterns or relationships in these data, and then extrapolating these relationshi...

1) Which of the following is the best definition of the term big data? A) Databases measured in terms of zettabytes. B) Datasets that are too large and complex for businesses' existing systems utilizing traditional capabilities. C) Databases for businesses that generate more than one mil...

1) In the Cabela's case study, the SAS/Teradata solution enabled the direct marketer to better identify likely customers and market to them based mostly on external data sources. - Answer-FALSE 2) The cost of data storage has plummeted recently, making data mining feasible for more firms. - Answ...

data warehouses - Answer-where data is stored electronically, in vast digital repositories big data - Answer-data sets so large that traditional methods of storage and analysis are inadequate transactional data - Answer-data collected for recording the companies' transactions data mining o...

What is big data? - Answer-Big data will show you trends and patterns, small data will not What drives big data? - Answer-As the world becomes more digital, we become more connected. Electronic devices are becoming more economical - meaning more people are gaining access to the digital space. Tra...

Chapter 1 - Answer-Data & Statistics Statistics - Answer-The art and science of collecting, analyzing, presenting, and interpreting data. statistics refers to - Answer-numerical facts such as averages, medians, percentages, and maximums that help us understand a variety of business and economi...

What is business analytics? - Answer-refers to the skills, technologies, and practices for continuous investigation of past business performance Independent variable - Answer-Variable whose value impacts dependent variables Dependent variable - Answer-variables representing market objectives, ...

Strategic decision - Answer-A decision that involves higher-level issues and that is concerned with the overall direction of the organization, defining the overall goals and aspirations for the organization's future. Tactical decision - Answer-concern how the organization should achieve the goal...

Business Week - Answer-Provides stats about the economy including production indices, stock prices, mutual funds and interest rates. Statistics - Answer-Numeral Facts (Average, Medians, Percents, and Index Numbers) Data - Answer-Facts and figures collected, analyzed and summarized for presenta...

business intelligence (BI) - Answer-the collection, management, analysis, and reporting Business Analytics - Answer-the use of data, information technology, statistical analysis, quantitative methods, and mathematical or computer-based models to help managers gain improved insight about their busine...

statistics - Answer-both the science of uncertainty and the technology of extracting information from data statistics - Answer-involves collecting, organizing, analyzing, interpreting, and presenting data a statistic - Answer-a summary measure of data is? descriptive statistics - Answer-ref...

Data Set - Answer-A simple collection of data or a data file Database - Answer-A collection of data files that contain information on people, locations, and so on Computer Clouds - Answer-Hardware and software used for data remote storage, retrieval, and computational functions Data Warehou...