BA

Question 1

What is Business Intelligence (BI)?

Answer 1

Tools and processes for gathering, storing, analyzing, and accessing data to improve decision-making.

Question 2

Define Business Analytics (BA).

Answer 2

The process of generating actionable recommendations using historical data insights.

Question 3

What are the three phases of decision-making?

Answer 3

Intelligence, Design, and Choice.

Question 4

What occurs during the Intelligence phase of decision-making?

Answer 4

Identifying and defining problems or opportunities.

Question 5

What is the purpose of the Design phase in decision-making?

Answer 5

To build and validate models to address the problem.

Question 6

What is the key focus of the Choice phase in decision-making?

Answer 6

Selecting the best solution based on evaluation criteria.

Question 7

What are structured decisions?

Answer 7

Routine problems with predefined solutions, often automated.

Question 8

What are unstructured decisions?

Answer 8

Complex problems requiring human intuition; no predefined solution exists.

Question 9

Name the three levels of decision-making.

Answer 9

Operational, Managerial, and Strategic.

Question 10

What is ETL in the BA process?

Answer 10

Extract, Transform, and Load – moving data into a warehouse or data mart.

Question 11

What is Descriptive Analytics?

Answer 11

Summarizes past data to identify patterns and trends.

Question 12

What is Predictive Analytics?

Answer 12

Forecasts future trends and outcomes based on probabilities.

Question 13

What is Prescriptive Analytics?

Answer 13

Provides actionable recommendations and evaluates potential outcomes.

Question 14

What is OLAP used for?

Answer 14

Multidimensional analysis of data, including slicing, dicing, drill-down, and roll-up.

Question 15

What is data mining?

Answer 15

Analyzing large datasets to uncover hidden patterns or relationships.

Question 16

Name three DSS methods.

Answer 16

What-If Analysis, Sensitivity Analysis, Goal-Seeking Analysis.

Question 17

What is a dashboard?

Answer 17

A visual tool displaying real-time KPIs and metrics for decision-making.

Question 18

What does GIS stand for?

Answer 18

Geographic Information Systems.

Question 19

How does GIS support decision-making?

Answer 19

Integrates and displays data using maps for location-based analysis.

Question 20

Name an example of Prescriptive Analytics in action.

Answer 20

Self-driving cars analyzing potential actions like braking or turning.

Question 21

What is the difference between BI and BA?

Answer 21

BI focuses on data gathering and reporting; BA focuses on deeper analysis and actionable insights.

Question 22

What are the challenges in decision-making that BA addresses?

Answer 22

Increasing alternatives, time pressure, uncertainty, and need for expert consultation.

Question 23

What role does sensitivity analysis play in DSS?

Answer 23

Identifies variables with the most impact on outcomes.

Question 24

What is the main goal of Predictive Analytics?

Answer 24

To anticipate and forecast future trends and behaviors.

Question 25

What are the outputs of the BA process?

Answer 25

Insights presented via dashboards, reports, or GIS maps.

Question 26

What is goal-seeking analysis?

Answer 26

Determines the input values needed to achieve a desired outcome.

Question 27

What is a KPI?

Answer 27

Key Performance Indicator – a specific measure of critical success factors.

Question 28

What is the role of dashboards in BA?

Answer 28

To provide real-time visual summaries of metrics for decision-making.

Question 29

What is the main function of Descriptive Analytics?

Answer 29

To learn from historical behaviors and data patterns.

Question 30

What is the purpose of Prescriptive Analytics?

Answer 30

To recommend and quantify the effects of future decisions.