BUAN 6312 Exam 1 Questions and Answers Already Passed
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Course
BUAN 6312
Institution
BUAN 6312
BUAN 6312 Exam 1 Questions and
Answers Already Passed
Question: What is the primary objective of business analytics in an organization?
Answer: The primary objective of business analytics is to use data-driven insights to
improve decision-making, optimize business processes, and enhance ov...
BUAN 6312 Exam 1 Questions and
Answers Already Passed
Question: What is the primary objective of business analytics in an organization?
Answer: ✔✔ The primary objective of business analytics is to use data-driven insights to
improve decision-making, optimize business processes, and enhance overall organizational
performance.
Question: What are the key components of the data analytics process?
Answer: ✔✔ The key components of the data analytics process include data collection, data
cleaning, data analysis, and data visualization. Each step is crucial for transforming raw data into
actionable insights.
Question: Explain the difference between descriptive and predictive analytics.
Answer: ✔✔ Descriptive analytics focuses on summarizing historical data to understand past
events, while predictive analytics uses statistical models and machine learning techniques to
forecast future trends and outcomes.
Question: What is the purpose of data cleaning in the analytics process?
1
, Answer: ✔✔ Data cleaning is essential for ensuring that the data used in analysis is accurate,
complete, and consistent. This step involves removing duplicates, correcting errors, and handling
missing values to improve the quality of insights generated.
Question: How do you define a key performance indicator (KPI), and why is it important?
Answer: ✔✔ A key performance indicator (KPI) is a measurable value that indicates how
effectively an organization is achieving its business objectives. KPIs are important because they
help track progress, set targets, and guide decision-making.
Question: What is a data warehouse, and how does it support business analytics?
Answer: ✔✔ A data warehouse is a centralized repository that stores large volumes of structured
data from various sources. It supports business analytics by enabling comprehensive data
analysis and reporting across different departments and time periods.
Question: What is the role of data visualization in business analytics?
Answer: ✔✔ Data visualization plays a crucial role in business analytics by presenting data in
graphical formats, such as charts and graphs, which make complex information easier to
understand and interpret for decision-makers.
Question: Describe the concept of "big data" and its relevance to business analytics.
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