*BIZ - Business Acumen

Question 1

Statement of an organization’s financial position at a specific point in time, showing assets, liabilities, and shareholder equity.

Answer 1

Balance sheet

Question 2

Ability to use information to gain a deeper understanding of an organization and make sound business decisions.

Answer 2

Business intelligence

Question 3

A user’s point of access to the data and applications stored on an information system. Can be customized to the needs of specific users so that they view only the data and applications they commonly use.

Answer 3

Business Intelligence Portal

Question 4

Ratio of gross profit to net sales.

Answer 4

Gross profit margin

Question 5

Amount of owners’ or shareholders’ portion of a business.

Answer 5

Equity

Question 6

Presentation to management that establishes that a specific problem exists and argues for a proposed solution.

Answer 6

Business case

Question 7

Statement that reports revenues, expenses, and profits for a specified period of time, for example, quarterly or annually.

Answer 7

Income statement

Question 8

Applications that can analyze data faster and in more ways than traditional relational databases, offering a multidimensional analysis of business data. Can quickly find all the varied intersections of the dimensions tracked.

Answer 8

Analytical processing

Question 9

A tool that stores data in separate tables each composed of rows and columns where each row is a data record and each column is an attribute. This tool is queried to find the relationships between the data.

Answer 9

Relational database

Question 10

Business intelligence reporting that analyzes historical data to identify patterns or changes in data over the time period reported on.

Answer 10

Trend analysis

Question 11

Business intelligence reporting that focuses on current data that measures performance in key areas.

Answer 11

Dashboard analytics

Question 12

Business intelligence reporting that uses historical and current data to get a better sense of the future and even to shape the future.

Answer 12

Predictive analytics

Question 13

The process of engaging in “what if” planning that can help organizations mitigate the severity of potential (typically uncontrollable) risks in the future. Allows the organization to take information gathered from past experiences and events and use it to devise plans to confront possible challenges in the future.

Answer 13

Scenario planning

Question 14

The process by which an organization creates the product or service it offers to the customer.

Answer 14

Value chain

Question 15

Business management software, usually a suite of integrated applications, that a company can use to collect, store, manage, and interpret data from many business activities.

Answer 15

Enterprise resource planning (ERP)

Question 16

Money an organization’s customers owe the organization.

Answer 16

Accounts receivable

Question 17

Organization’s debts and other financial obligations.

Answer 17

Liabilities

Question 18

Statement of an organization’s ability to meet its current and short-term obligations, showing incoming and outgoing cash and cash reserves in operations, investments, and financing.

Answer 18

Cash flow statement

Question 19

Money an organization owes its vendors and suppliers.

Answer 19

Accounts payable

Question 20

Ratio of net income (gross sales minus expenses and taxes) to net sales.

Answer 20

Net profit margin

Question 21

The benefit created when an organization meets its strategic goals; measure of usefulness, worth, or importance.

Answer 21

Value

Question 22

Document that defines the output customers can expect.

Answer 22

Service-level agreement

Question 23

Financial, physical, and sometimes intangible properties an organization owns.

Answer 23

Assets

Question 24

Performance management tool that depicts an organization’s overall performance, as measured against goals, lagging indicators, and leading indicators. Help support a clear line of sight from strategic goals to strategic performance. Gives the entire organization a clear idea of what the overall objectives are.

Answer 24

Balanced scorecard