Module 8

Which of the following is TRUE?

Big Data systems perform well because they contain a huge amount of data on which to base their predictions.

Which of the following is not true of predictive analytics?

all of the above Predictive analytics are used to detect patterns. Predictive analytics provide estimates about the likelihood of a future outcome. Predictive analytics are based on probabilities.

DSS characteristics include which of the following?

all of the above support managers at all organizational levels support all phases of the decision making process adaptable to changing conditions usually utilize quantitative models

_____ are computer-based information systems that combine models and data in an attempt to solve semistructured and some unstructured problems with extensive user involvement

decision support systems

Prescriptive analytics present multiple future outcomes based on the decision maker's actions.

false

_______ is an intellectual asset.

knowledge

Considering the nature of decision, acquiring and using resources efficiently in accomplishing organizational goals is

management control

Targeted marketing relies on _________ analytical information.

predictive

_________ analytics answers the question "what could happen?"

predictive

Data mining is typically used in which part of the business analytics process?

predictive analytics

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

prescriptive

_________ decisions are partially routine and partially complex.

semi-structured

____ is the study of the impact that changes in one or more variables of a decision-making model have on other variables.

sensitivity analysis

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

strategic control

Data marts are typically associated with

the development of one or a few related analytics applications.

Big Data is a collection of data so large and complex that it is difficult to manage using traditional database management systems.

true

Business analytics vendors typically design their software so that it interfaces with Excel.

true

Early information systems mainly supported the information roles of managers.

true

Experts argue business analytics and business intelligence should be used interchangeably.

true

Organizations can use Big Data to microsegment customers.

true

Prescriptive analytics require predictive analytics.

true

The entire business analytics process starts with a business problem or organizational "pain point".

true