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Business Intelligence And Data Analytics Exam 1 Questions And Answers Latest Update
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Solution 2024/2025Pepper
Business Intelligence Final Exam Questions
And Answers Latest Update
Definition of Business Intelligence and Analytics ANS✔✔ Business
Intelligence & Analytics are the techniques, technologies, systems,
practices, methodologies and applications that analyze critical business
data to help an enterprise better
understand its business and market and make timely business decisions.
1. Data Management
2. Descriptive Analytics
3. Predictive Analytics
4. Prescriptive Analytics
5. Business Performance Management ANS✔✔ 5 aspects/components of
BI&A
the technical staff that takes the data sources and builds the data
warehouse by organizing, summarizing, and standardizing ANS✔✔ explain
the data warehouse environment of BI&A:
the business users that access the date warehouse; manipulation via user
interface (browser, portal, dashboard) and produce results which lead to
performance and strategy from managers and executives ANS✔✔ explain
the business analytics environment of BI&A
Importance of BI&A ANS✔✔ #1 priority for CEO's
, Solution 2024/2025
Pepper
- evidence based businesses generally outperform their competition, in
terms of growth
There are several business environmental factors: globalization, customer
demand, government regulations, market conditions, competition, etc.
These factors can be both pressures and opportunities, depending on how
an organization responds to them: strategy, partners collaboration, real-
time response, agility, increased productivity, new vendors, new business
model, etc. These organization responses drive decisions and support:
Analyses, Predictions, & Decisions, which makes up Business Intelligence
ANS✔✔ Describe the Business-Pressures-Reponses-Support model:
1. Structured
2. Semistructured
3. Unstructured ANS✔✔ 3 types of decisions:
1. Operational control
2. Managerial control
3. Strategic planning ANS✔✔ 3 types of control:
Raw facts; has no meaning without its context
- Example: Blue; Blue what? Car? Shirt? Eyes? ANS✔✔ What is data?
Processed data; conclusion
- Example: the total sales of the week (mathematical equation) ANS✔✔
What is information?
, Solution 2024/2025
Pepper
Information in action; you can learn from the information and produce
actionable insight
- Example: The average salary for IT professionals is $60,000. ANS✔✔ What
is knowledge?
structured decisions ANS✔✔ routine/repetitive decisions
unstructured decisions ANS✔✔ also called "ill" decisions
- There is currently not a good (template) decision; we don't know the best
answer; great deal of uncertainty and judgment
Examples: cost minimization, profit maximization
semistructured decisions ANS✔✔ these fall between structured and
unstructured decisions, having some structured elements and some
unstructured elements; trading bonds, setting marketing budgets, etc.
operational control ANS✔✔ day-to-day
managerial control ANS✔✔ acquiring decisions
strategic planning ANS✔✔ visionary
- Use data (as an asset) to make decisions
- Rules evolve over time
- Measure the consequences of decisions ANS✔✔ Key takeaways from the
in-class Airplane rebooking scenario:
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