BSAN 160

Heuristics - correct answers Base decisions based on previous decisions Decision Modeling - correct answers Qualitative & quantitative models for decision support which (1) are prescriptive analytics methods and (2) support choosing between different decision alternatives using analytical models. Can be visualized and applied to select the best decision (according to our decision criterion) using a decision tree Mathematical Model for Decision Modeling - correct answers Each decision pr...

Descriptive Analytics the use of data to understand past and current business performance and make informed decisions Predictive Analytics extracts information from data and uses it to predict future trends and identify behavioral patterns Prescriptive Analytics The set of analytical techniques that yield a best course of action. Data Facts and statistics collected together for reference or analysis structured data Data that (1) are typically numeric or categorical; (2) can ...

T or F:Decision support system are computer-based support systems that integrate individuals' expertise and computer capabilities, and they have precise definitions agreed to by practitioners. - correct answers False Business Intelligence (BI) - correct answers is an umbrella term that combines architectures, databases, analytical tools, applications, and methodologies T or F: Data is a collection of observations, experiments, and experiences that do not necessarily represent absolute fac...

Which of the following statement describes the key take away points of Analytics Applications in Healthcare - Humana Example 1? a) Humana's prevention efforts aim to treat all injuries after a fall more efficiently. b) As a strategy to enhance well-being of its members, Humana promotes increased utilization of physical therapy as a better alternative than investing in high-cost analytics. c) Using analytics can reduce healthcare costs by identifying subgroups of Humana members that are at ...