Applications of Business Analytics 1

Question 1

These are the facts and figures collected, analyzed, and summarized for presentation and interpretation.

Answer 1

Data

Question 2

What does Dow mean?

Answer 2

Dow Jones Industrial Index

Question 3

What is tracked by many financial advisors and investors as an indication of the state of the overall financial markets and the economy in the US?

Answer 3

Dow

Question 4

It is a characteristic or a quantity of interest that can take on different values.

Answer 4

Variable

Question 5

Give examples of variables.

Answer 5

Symbols
Industry
Share Price
Volume

Question 6

It is a set of values corresponding to a set of variables.

Answer 6

Observation

Question 7

Every problem and opportunity that an organization or individual is concerned with, what?

Answer 7

The impact of the possible values of relevant variables on the business outcome.

How the value of a variable can vary.

Question 8

It is the difference in a variable measured over observations.

Answer 8

Variation

Question 9

What is the role of descriptive analytics?

Answer 9

To collect and analyze data to gain a better understanding of variation and its impact on the business setting.

Question 10

It’s the values of some variables under the direct control of the decision makers.

Answer 10

Direct Variables

Question 11

Why do values of other variables may fluctuate with uncertainty?

Answer 11

Because of factors outside the direct control of the decision-maker

Question 12

It is the quantity whose values are not known with certainty.

Answer 12

Random Variable
Uncertain Variable

Question 13

What can be categorized in several ways on how they are collected and the type collected?

Answer 13

Data

Question 14

Is it feasible to collect data from population of all elements of interest?

Answer 14

No

Question 15

It is the data collected from a subset of the population.

Answer 15

Sample

Question 16

It is a set of individuals who share a characteristic or set of characteristics.

Answer 16

Population data

Question 17

In most cases, a representative sample can be gathered by what kind of sampling?

Answer 17

Random sampling

Question 18

What is it called if numeric and arithmetic operations can be performed on data?

Answer 18

Quantitative Data

Question 19

What is it called if numeric and arithmetic operations can’t be performed on data?

Answer 19

Categorical data

Question 20

It can be summarized by counting the number of observations or computing the proportions of observations in each category.

Answer 20

Categorical Data

Question 21

These are collected from several entities at the same time or approximately the same point in time.

Answer 21

Cross-sectional data

Question 22

These are collected over several time periods.

Answer 22

Time Series Data

Question 23

These are frequently found in business and economic publications where analysts understand what happened in the past, identify trends over time, and project future levels.

Answer 23

Graphs of time series data

Question 24

The data necessary to analyze a business problem or opportunity can often be obtained with a/an what?

Answer 24

appropriate study

Question 25

In this study, a variable of interest is first identifiedthen one or more other variables are identified and controlled or manipulated.

Answer 25

Experimental Study

Question 26

In this study, there is no attempt to control the variables of interest.

Answer 26

Nonexperimental Observational studies

Question 27

What is the most common type of observational study?

Answer 27

Survey

Question 28

It is the creation of ad hoc analysis to answer specific business questions and forecast possible future financial scenarios.

Answer 28

Financial Analytics

Question 29

What is the goal of financial analytics?

Answer 29

To shape the strategy for business through reliable, factual insight rather than intuition.

Question 30

What provides the tools for firms to gain deep knowledge of key trends and take action to improve their performance?

Answer 30

Financial Analytics

Question 31

What are the mentioned importance of financial analytics?

Answer 31

- It can help companies determine the risks they face, how to enhance and extend the business processes that make them run more effectively, and whether organizations' investments are focused on the right areas. - Enable organizations to rethink their strategies for solving problems and supporting business decisions. - Help companies examine the profitability of products across various sales channels and customers - Increase visibility regarding the processes that support decision-making

Question 32

What are the key types of financial analytics?

Answer 32

Predictive sales analytics Client profitability analytics Cash-flow analytics Product profitability analytics Value-driven analytics Shareholder value analytics

Question 33

What may include the use of correlation analysis or past trends to **forecast corporate sales**?

Answer 33

Predictive sales analytics

Question 34

What helps **differentiate between clients who make money and those who don't**?

Answer 34

Client profitability analytics

Question 35

What entails **assessing each product individually** rather than establishing profitability overall at a company?

Answer 35

Product profitability analytics

Question 36

What employs real-time indicators and may include tools such as regression analysis to **predict cash flow**?

Answer 36

Cash-flow analytics

Question 37

What assesses a business' **value drivers** or the **key "levers"** the organization needs to pull to achieve its goals?

Answer 37

Value-driven analytics

Question 38

What is used to tally the value of a company by examining the returns it provides to shareholders?

Answer 38

Shareholder value analytics

Question 39

What is used concurrently with profit and revenue analytics?

Answer 39

Shareholder value analytics

Question 40

What can speed up the creation of reports and present data in an executive dashboard??

Answer 40

Financial Analysis Software

Question 41

What is the graphical presentation that is easier to read and interpret than a series of spreadsheets with pivot tables?

Answer 41

Executive Dashboard

Question 42

List the popular financial analysis software programs.

Answer 42

MATLAB Oracle Financial Analytics SAP ERP Financial Analytics SAS Business Analytics IBM Cognos Finance NetSuite

Question 43

It is a modular component of Oracle's integrated family of business intelligence software applications.

Answer 43

Oracle Financial Analytics

Question 44

It enables insight into the general ledger, provides visibility into performance against budget and the way staffing costs and employee or supplier performance affects revenue and customer satisfaction.

Answer 44

Oracle Financial Analytics

Question 45

It helps organizations define financial goals, develop business plans and monitor costs and revenue during execution.

Answer 45

SAP ERP Financial Analytics

Question 46

It provides an integrated environment for data mining, text mining, simulation, predictive modeling, and descriptive modeling.

Answer 46

SAS Business Anaytics

Question 47

It is a mathematical model that predicts future outcomes.

Answer 47

Predictive Modeling

Question 48

It is a mathematical model that describes historical events and the relationships that created them.

Answer 48

Descriptive Modeling

Question 49

It provides out-of-the-box data analysis capabilities for sales, supply chain procurement, and workforce management functions.

Answer 49

IBM Cognos Finance

Question 50

It provides financial dashboards, reporting, and analytic functions that allow personal key performance indicators to be motored in real-time.

Answer 50

NetSuite

Question 51

it allows developers to interface with programs developed in different languages, which makes it possible to haness the unique strengths o f each language for various purposes.

Answer 51

MATLAB

Question 52

What are the three dimensions of data analytics competency?

Answer 52

Descriptive Predictive Prescriptive

Question 53

It allows finance professionals to look at the past and present facts.

Answer 53

Descriptive

Question 54

At this level, the use of big data is pretty straightforward.

Answer 54

Descriptive

Question 55

What patterns can be used to predict what might happen tomorrow?

Answer 55

Historical data (descriptive) and identify payment patterns

Question 56

At this level, we are approaching the final dimension.

Answer 56

Predictive

Question 57

It allows for patterns to be identified and be used to predict what might happpen tomorrow.

Answer 57

Predictive

Question 58

This is the third and most interesting dimension of big data analytics.

Answer 58

Prescriptive

Question 59

This is where once there is a prediction, there is a necessary action to be done and preempt potential problems before they can occur.

Answer 59

Prescriptive