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MIS 301 Exam 1 Question and answers already passed 2024 $12.49   Add to cart
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MIS 301 Exam 1 Question and answers already passed 2024

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MIS 301 Exam 1 Question and answers already passed 2024 Business - correct answer A business is an organization designed to provide goods, services, or both to consumers. Hilton & WalMart - correct answer Examples of businesses that are predominant in capitalist economies, in which most of...

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  • August 27, 2024
  • 15
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • MIC 301
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MIS 301 Exam 1
Business - correct answer ✔A business is an organization designed to
provide goods, services, or both to consumers.


Hilton & WalMart - correct answer ✔Examples of businesses that are
predominant in capitalist economies, in which most of them are privately
owned and formed to earn profit to increase the wealth of their owners


National Public Radio (NPR) & Federal Home Loan Banks - correct answer
✔Examples of businesses that are nonprofit or state-owned.


Business Intelligence - correct answer ✔- Companies are moving
aggressively to computerized support of their operations.
- (Changing business environment & Data driven decision making)


Business Pressures - Responses - Support Model - correct answer ✔-
Businesses pressures are the result of today's competitive business climate
- Responses to counter the pressures
- Support to better facilitate the process
- (Changing business environment & Data driven decision making)


Closing the Strategy Gap - correct answer ✔- One of the major objectives of
data driven decision making is to facilitate closing the gap between the current
performance of an organization and its desired performance, as expressed in
its mission, objectives, and goals, and the strategy to achieve them
- (Business Analytic Framework)

, The Origins and Drivers - correct answer ✔- Organizations are being
compelled to capture, understand and harness their data to support decision
making in order to improve business operations.
- Managers need the right information at the right time and in the right place
- (Business Analytic Framework)


Business Analytics - correct answer ✔- According to Gartner, comprised of
solutions used to build analysis models and simulations to create scenarios,
understand realities and predict future states.
- Includes data mining, predictive analytics, applied analytics and statistics,
and is delivered as an application suitable for a business user.


Examples of Business Analytics - correct answer ✔- WalMart finding out
what sells in a hurricane (PopTarts)
- Netflix finding out what movies a customer might want to watch
- An investor finding out out anomalies exist in the stock market in order to
make a profit to his/her customers
- Amazon personalizing and customizing websites
- Sprint finding out that a customer might want to drop its service before the
customer even knows it
- Find the best route for a taxi/uber.


- Microsoft Excel & Access
- Online analytical processing (OLAP)
- Data mining, text mining, and web content mining - correct answer ✔Tools
for aiding information and knowledge discovery. (Business Analytics Tools)


- Predictive Analysis

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