finals minsan

Question 1

Used to understand current business processes and plan for future changes in response to their internal and external environment

Answer 1

prescriptive analytics

Question 2

can help attempt to explain behavior and help make decisions in the face of an uncertain future

Answer 2

prescriptive analytics

Question 3

associated with area of OPERATIONS MANAGEMENT

which considers the transformation of materials, information, customers into goods and services

Answer 3

business process management (bpm)

Question 4

a discipline that is focused on the use of business processes as a way of improving organizational performance

Answer 4

business process management (bpm)

Question 5

these is a key aspect of BOTH operations management and BPM

Answer 5

performance measures

Question 6

give examples of performance measures

Answer 6

metrics of cost, quality, speed, flexibility, and dependability

Question 7

the use of modeling and statistics from information systems capabilities such as the storage of BIG DATA in order to TRANSFORM IT into ACTIONS through ANALYSIS and INSIGHTS in the context of organizational decision making

Answer 7

business analytics

Question 8

this is a key part of analytics to assess business performance

Answer 8

the use of performance measures

Question 9

this is the use of reports and visual displays to EXPLAIN and UNDERSTAND PAST and CURRENT business performance.

often contains STATISTICAL SUMMARIES that are intended to PROVIDE an OUTLINE OF TRENDS in current and past performance

Answer 9

descriptive analytics

Question 10

ability to RECOMMEND A CHOICE OF ACTION from PREDICTIONS of FUTURE PERFORMANCE

this is done through RECOMMENDING AN OPTIMUM DECISION through MODEL DRIVEN APPROACHES to TRY OUT many different scenarios

Answer 10

prescriptive analytics

Question 11

aims to DERIVE a DESCRIPTION OF BEHAVIOR from OBSERVATIONS so that it can DESCRIBE HOW that SYSTEM BEHAVES under DIFFERENT CONDITIONS OR SCENARIOS

Answer 11

data driven modeling approach

Question 12

a WAY to build a model that ALLOWS US to MAKE PREDICTIONS

this is achieved through ASSOCIATIONS, SEQUENCES, CLASSIFICATION, AND CLUSTERING OF DATA

Answer 12

pattern recognition

Question 13

aims to DERIVE a DESCRIPTION of BEHAVIOR from OBSERVATIONS of a SYSTEM so that it can DESCRIBE how that SYSTEM BEHAVES under different conditions and scenarios

Answer 13

model driven modeling

Question 14

regression analysis, econometric modeling, time series experiments, and yield management

Answer 14

data driven analysis techniques

Question 15

IDENTIFYING PATTERNS in COMPLEX and ILL DEFINED data sets

it involves ESTABLISHIN RELATIONSHIPS about items THAT OCCUR at a PARTICULAR POINT in time

Answer 15

data mining

Question 16

using a data driven approach, this can GENERATE algorithms that may PROVIDE PREDICTIONS

Answer 16

machine learning

Question 17

to present LARGE SCALE DATA in some VISUAL FORM

Answer 17

visual analytics

Question 18

using DESIGNED COMPUTATIONAL EXPERIMENTS to GROW DATA which can then be ANALYZED using statistical and visualization techniques to OBTAIN INSIGHT into COMPLEX SYSTEMS

Answer 18

data farming

Question 19

it uses a MODEL the can be defined as a SIMPLIED REPRESENTATION of a real system that is USED to IMPROVE our UNDERSTANDING of the REAL SYSTEM.

this INVOLVES deciding WHAT IS RELEVANT to MEET AIMS of the CURRENT INVESTIGATION

this PROVIDES information for DECISION MAKING that CAN BE USED to MAKE PREDICTIONS of REAL WORLD DECISIONS

Answer 19

model driven analysis