Chapter 12

Question 1

Business Analytics (BA)

Answer 1

Using past data to make decisions or recommendations for future actions

Question 2

Business Intelligence (BI)

Answer 2

Tools and methods to collect, store, and analyze data, helping businesses make better decisions

Question 3

Management

Answer 3

Using resources to achieve organizational goals

Question 4

Productivity

Answer 4

The ratio of outputs to inputs in a process

Question 5

Decision

Answer 5

A choice made between two or more options

Question 6

Herbert Simon Decision Making

Answer 6

Intelligence
Design
Choice

Question 7

Intelligence Phase

Answer 7

Identify the Problem/Opportunity

Gather Information to Understand the situation

Question 8

Design Phase

Answer 8

What are my options?

Question 9

Choice Phase

Answer 9

Select the best solution or course of action.
Implement the decision

Question 10

Problem Structure

Answer 10

Structured Decisions
Unstructured Decisions
Semi Structured Decisions

Question 11

Structured Decisions

Answer 11

Routine and Repetitive Problems

Question 12

Unstructured Decisions

Answer 12

No standardized procedures

Question 13

Semi-Structured Decisions

Answer 13

Combination of standard solution procedures and individual judgement.

Question 14

Nature of Decision

Answer 14

Operational Control
Management Control
Strategic Planning

Question 15

Operational Control

Answer 15

Executing specific tasks efficiently and effectively

Question 16

Management control

Answer 16

Acquiring and using resources efficiently in accomplishing organizational goals

Question 17

Strategic planning

Answer 17

The long-range goals and policies for growth and resource allocation

Question 18

Three Business Analytics Targets

Answer 18

Development of Specific Analytics Application

Enterprise-Wide Analytics Infrastructure

Support for Organizational Transformation

Question 19

Business Analytics Process

Answer 19

Identify the Problem
Use Advanced Technologies
Analyze Data
Collaborate
Apply Solutions

Question 20

Business Analytics (BA) Tools

Answer 20

Online Analytical Processing (OLAP)
Data Mining
Decision-Support Systems (DSSs)

Question 21

Descriptive Analytics

Answer 21

Summarizes past events to help decision-makers learn from past behaviors

Question 22

Online Analytical Processing (OLAP)

Answer 22

helps analyze data by breaking it into parts (slicing and dicing) to look at different categories (dimensions) and numbers (measures)

Question 23

Data Mining

Answer 23

The process of searching for valuable business insights in large databases, data warehouses, or data marts

Question 24

Decision-Support Systems (DSSs)

Answer 24

Business intelligence systems that combine models and data to help solve semi-structured or unstructured problems, with extensive user involvement

Question 25

Predictive Analytics

Answer 25

Uses recent and historical data to identify patterns and predict future outcomes or trends

Question 26

Prescriptive Analytics

Answer 26

Recommends one or more actions and shows the likely outcomes of each decision

Question 27

BA Tools in Prescriptive Analytics

Answer 27

Optimization
Simulation

Question 28

Augmented Analytics

Answer 28

An analytics platform that integrates artificial intelligence (AI) and machine learning (ML) to automate the processes of data selection, preparation, insight generation, and the communication of those insights

Question 29

Dashboard

Answer 29

A business analytics tool that provides quick access to real-time information and direct access to management reports.

Question 30

Geographic Information System (GIS)

Answer 30

A computer-based system used to capture, integrate, manipulate, and display data through digitized maps