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BSAN 160 Test Questions and Answers

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BSAN 160 Test Questions and Answers Four components of BI - Answer-1. Data Warehouse 2. Business Analytics 3. Business Performance Management 4. User Interface Online Transaction Processing (OLTP) Systems - Answer-handles a company's routine ongoing business Goal: capture the data accura...

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  • 16 augustus 2024
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BSAN 160 Test Questions
and Answers
Four components of BI - Answer-1. Data Warehouse
2. Business Analytics
3. Business Performance Management
4. User Interface

Online Transaction Processing (OLTP) Systems - Answer-handles a company's routine
ongoing business

Goal: capture the data accurately and store it reliably

Online Analytical Processing (OLAP) Systems - Answer-gives management the ability
to scour data for information about the business and support/guide decisions

uses data warehouses

Goal: make relevant data available quickly and conveniently (single repository) for
analysis

Data (definition) - Answer-facts (plural of datum)

collections of observations, transactions, or experiences, as measurements of a set of
variables

Data (consists of) - Answer-numbers, words, and images

Raw Data (consists of) - Answer-errors, uncertainty, nuances, and biases

Descriptive Analytics - Answer-provides knowledge of what's happening in and around
an organization and can enable identification of underlying patterns, causes, and effects

ex. in hospitals:

patterns in variables - likely values of hospitalization cost, trend in patient volume.

relationship between variables - patient volume vs waiting time

Contemporary Data Visualization Tools - Answer-facilitates powerful insights in a firm's
operations or business environment

,Predictive Analytics - Answer-the use of statistical techniques and data mining to predict
what is going to happen (future/unknown values of an outcome of interest) using current
and past data

Predictive Model (PM)

Prescriptive Analytics - Answer-aims to not only predict what is going to happen but
compare different actions/decisions and select best decisions based on certain
performance criteria

Prescriptive Model

Structured Data - Answer-1. easier for computers to process
2. categorical vs numerical

organized in tabular arrays with variables, observations, and values.

ex. a spreadsheet

Unstructured Data - Answer-easier for humans to process/digest

Semi-structured Data - Answer-XML, HTML, Log files, etc.

Categorical Variables - Answer-classifies information into categories

ex. nationality, college major, animal breed, etc.

A variable is numerical if... - Answer-meaningful arithmetic can be performed on it

ex. age, income, service duration, etc.

Variable - Answer-characteristic of members of a population

ex. age, gender, etc.

Observation - Answer-conceptually, what is observed for a variable with respect to a
member of the dataset

Value - Answer-the specific datum (number, letters, etc.) observed for one variable with
respect to a member of the dataset

Summary Measures - Answer-describes how a set of data 'looks' and thereby answers
common questions of interest

, Business Intelligence (BI) - Answer-concerned with managing and using complex,
multidimensional data to support business decisions and improve performance

Business Analytics - Answer-component of BI

the process of developing actionable decisions or recommendations for actions based
on insights generated from historical data

Data Visualization - Answer-the use of visual representations to explore, interpret, and
communicate data or information derived from the data

Goal: presents key insights from data in ways that reduce the cognitive burden for the
audience

facilitates the generation and presentation of insights to support decisions

Traditional Reporting - Answer-entails manual collection and processing/analysis of
data to obtain information for decisions

time consuming and adapts slowly

Decision Support System (DSS) - (later known as BI systems) - Answer-combines
human expertise with computer capabilities, utilizing data and models to solve problems

BI Systems (formerly DSS) - Answer-combines databases, analytical tools, and
advanced software applications to produce interactive reports and analyses.

based on the transformation of data to information, then information to decisions and
actions

possibility to perform arithmetic on numerical variables allows for summary measures

Mean - Answer-a set of numerical values is the arithmetical average of all values in the
set

large outliers will have a large effect (positive or negative)

Mode - Answer-a set of numerical values that appears most frequently

there can be one mode or no mode. it depends on the data.

Median - Answer-the middle observation when data are sorted from smallest to largest

if odd, there is one median. if even, there are two medians.

it is more robust to outliers than the mean

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