Chapter 12 Vocab and Quizzes

dashboard

A business analytics presentation tool that provides rapid access to timely information and direct access to management reports.

geographic information system (GIS)

A computer-based system for capturing, integrating, manipulating, and displaying data using digitized maps.

descriptive analytics

A type of business analytics that summarize what has happened in the past and allow decision makers to learn from past behaviors.

implementation

Answering the question "did this option work as proposed" occurs in the ___ phase of the IDC.

unstructured

As a board member, you recommend hiring a new CEO to address the scandals that have been reported in the Wall Street Journal. This is a(n) ________ decision.

structured

As a purchasing manager, you have to purchase widgets every week to replenish your inventory. This is a(n) ________ decision.

decision support systems (DSSs)

Business intelligence systems that combine models and data in an attempt to solve semistructured and some unstructured problems with extensive user involvement.

management control

Considering the nature of decision, acquiring and using resources efficiently in accomplishing organization goals is ___.

operational control

Considering the nature of decisions, executing specific tasks efficiently and effectively is ___.

strategic planning

Considering the nature of decisions, the long-range goals and policies for growth and resource allocation is ___.

the development of one or a few related analytics applications

Data marts are typically associated with ___.

data; information

Data reduction is the conversion of raw ___ into a smaller amount of more useful ___.

semistructured

Every year, you have to give each of your employees a performance review an deice whether they have earned a raise. This is a(n) ___ decision.

intelligence

Examination and answering the question "what is the problem" occur in the __ phase of the IDC.

DSS

Examples of ___ include sensitivity, what-if, and goal-seeking analyses.

digitized maps

GIS is a computer-based system for capturing, integrating, manipulating, and displaying data using ___.

Data mining

If you want to know what items customers typically buy together so that you can place them next to each other on the shelf, you would be using ___.

a business problem

The entire business analytics process starts with ___.

business analytics (BA)

The process of developing actionable decisions or recommendations for actions based on insights generated from historical data.

design

Validation of the model and answering the question "what are my options" occur in the ___ phase of the IDC.

choice

Verification/testing of the proposed solution and picking an option occur in the ___ phase of the IDC.

-Detecting fraudulent credit card transactions -predicting sales -forecasting bankruptcy -*** comparing products

Which of the following is NOT a use for data mining?

Drill down

You are looking at a sales report from last month. You notice one salesperson's numbers are much lower than the rest, so you click on that person's name to get more details on the products they sold last month. You are using the _______ feature of a dashboard.

unstructured; strategic planning

You are the CEO of Widgets R Us. You know your widgets need to be more efficient and cost less, so you ask R&D to develop a plan. This is a(n) _____ task and a(n) ______ decision.

What-if

You assume the inflation rate will remain constant over the next few years, so you consider purchasing a home with a variable interest rate. You decide to double-check this assumption with a(n) __________ analysis.

support for organizational transformation

You decide to implement a new customer loyalty program that rewards customers for shopping in your store. To accomplish this, you need to implement a data warehouse to collect data from all your physical and online stores. This is an example of ___.

goal-seeking

You want to spend a maximum of $100,000 on your first house. You need to use a(n) ___ analysis to figure out the location and size of those types of homes.

descriptive

You would use OLAP and DSS as statistical procedures for __ analytics.

Predictive

You would use linear, multiple, or logistic regression as statistical procedures for ___ analytics.

What-if

___ analysis attempts to predict the impact of changes in the assumptions (input data) on the proposed solution.

Sensitivity

___ analysis examines the change in an output given the change in a particular input while keeping all other inputs constant.

Descriptive

___ analytics answers the question "what has happened"

Prescriptive

___ analytics answers the question "what should we do".

Predictive

___ analytics drives the coupons you get at the grocery store when you use your loyalty card.

Descriptive

___ analytics is the first step in data reduction.

Prescriptive; predictive

___ analytics require ___ analytics.

Data mining

___ can perform two basic operations: 1) identifying previously unknown patters and 2) predicting trends and behaviors

Users

___ decide what data should be stored in an organization's data warehouse.

Semistructured

___ decisions are partially routine and partially complex.

Structured

___ decisions deal with routine and repetitive problems.

OLAP

___ involves slicing and dicing data, drilling down in the data, and rolling up data to greater summarization.

Information

___ is NOT a stage in the IDC.

Exception reporting

___ is a capability of dashboards that highlights deviations larger than certain thresholds.

Improving customer satisfaction

___ is an example of CSF.

Goal-seeking

_____ analysis attempts to calculate the value of the inputs necessary to achieve a desired level of output.

Drill down

_________ is a capability of dashboards that gives the user the ability to go to details at several levels by a series of menus or by clicking on a portion of the screen that can be expanded.

business intelligence (BI)

a broad category of applications, technologies, and processes for gathering, storing, accessing, and analyzing data to help business users make more informed decisions

decision

a choice that individuals and groups make among two or more alternatives

management

a process by which organizational goals are achieved through the use of resources

online analytical processing (OLAP) or multidimensional data analysis

a set of capabilities for "slicing and dicing" data using dimensions and measures associated with the data

data mining

the process of searching for valuable business information in a large database, data warehouse, or data mart