IS-CH 12

Goal-Seeking

At the end of a semester, a student knows that she must score at least an 81 on the final exam to receive an A in the course. She decided that she can make the 81 by studying the material only the night before the exam. She has just performed what kind of analysis?

T/F Lower-level managers typically handle strategic planning decisions.

FALSE

T/F Oracle is the most popular and common business analytics tool.

FALSE

T/F Predictive analytics provide decision makers with guarantees about what will happen in the future.

FALSE

T/F Prescriptive analytics present multiple future outcomes based on the decision maker's actions.

FALSE

Design

In the _____ phase of the decision making process, managers set criteria for the evaluation of alternative potential solutions.

T/F About one-third of water distributed by utilities around the world is lost to leaks, so the ability to detect leaks is critical.

TRUE

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

TRUE

T/F Data mining is a statistical tool for descriptive and predictive analytics.

TRUE

T/F Middle managers typically handle management control decisions and semi-structured tasks.

TRUE

T/F Prescriptive analytics recommend one or more courses of action and show the likely outcome of each decision.

TRUE

T/F Senior executives typically handle strategic planning decisions.

TRUE

T/F Simpa Networks hired DataKind to help them find an optimal mix of customers.

TRUE

T/F The Management Cockpit is a dashboard used by executives and board members.

TRUE

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

TRUE

Structured

The type of decision that can be made by following a definite procedure is called a(n) ______ decision.

Geographical Information System (GIS)

This information system uses data visualization technologies to analyze and display data in the form of digital maps for planning and decision making purposes.

Drill Down

Which capability of digital dashboards enables users to go into greater detail?

Decisions are becoming less complex

Which of the following is not a reason that managers need IT support?

Sensitivity Analysis

Which of the following is not a tool used in predictive analytics?

-predictive analytics are used to detect patterns -predictive analytics provide estimates about the likelihood of a future outcome -predictive analysis are based on probabilities ---> ALL STATEMENTS ARE TRUE

Which of the following is not true of predictive analytics?

What-if-analysis

_____ is the study of the impact of a change in the assumptions (input data) on the proposed solution.

Sensitivity Analysis

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

Business Analytics

_____ refers to applications and technologies for consolidating, analyzing, and providing access to vast amounts of data to help users make better business and strategic decisions.