Business Analytics

Question 1

Types of analytics

Answer 1

Descriptive - what happened?
Diagnostic - why did it happen?
Predictive - what will happen?
Prescriptive - what should I do?

Question 2

Business report

Answer 2

Information makes decision
Source - data from sources
Format - text, tables, graphs
Distribution - in print, email, internet
Purpose - provide results from analytics and to improve decisions

Question 3

Data visualization

Answer 3

The use of visual representation to explore, make sense of, and communicate data

Question 4

Business performance management principals

Answer 4

1 be true to your data
2 Maximise information, minimize ink
3 organize hierarchically

Question 5

BI lifecycle

Answer 5

Project planning

Business requirements

Technical architecture design - data, design - BI application design

Tool selection - data, design - BI application development

Growth - deploy - maintenance

All project management

Question 6

End users

Answer 6

Builders - central or business, IT
Collaborators - provides context
Producers - power users, create reports
Consumers - decision makers

Question 7

BI vs BA

Answer 7

BI uses past and present for current success

BA uses past and present for future success

Question 8

Business performance management

Answer 8

A real time system
Alerts to potential opportunities, problems and challenges
Empowers them to react