chapter 12

Question 1

Business analytics (BA)

Answer 1

set of disciplines and technologies for solving business problems using data analysis, statistical models and other quantitative methods.

Question 2

Business intelligence (BI)

Answer 2

is a technology-driven process for analyzing data and delivering actionable information that helps executives, managers and workers make informed business decisions.

Question 3

Why Managers Need IT Support

Answer 3

Number of alternatives is constantly increasing
o Most decisions must be made under time pressure

Question 4

Framework for Computerized
Decision Analysis

Answer 4

Problem structure

Nature of decisions

decision matrix

Question 5

Business Analytics Tools

Answer 5

excel

data mining

decision support systems

Question 6

Descriptive analytics:

Answer 6

summarizes what has happened in the past and enables decision makers to learn from past
behaviours

Question 7

Predictive analytics:

Answer 7

examines recent and historical data to detect patterns and predict future outcomes and trends

Question 8

prescriptive analytics: recommends one or more courses of
action and identifying the likely outcome of each decision

Answer 8

recommends one or more courses of action and identifying the likely outcome of each decision

Question 9

Presentation Tools

Answer 9

• Dashboards provide easy access to timely information and
  direct access to management reports

Characteristics include:
o User-friendly, supported by graphics
o Enables management to examine exception reports and drill down into detailed data