Chapter 12
What type of analytics uses statistical analysis, data mining techniques, historical data, and assumptions about future conditions to predict future trends and behavior patterns?
Predictive
Which of the following best describes the balanced scorecard method?
The balanced scorecard method refers to a framework for operationalizing a firm's strategic plan by focusing on measurable financial, business process, customer, and learning and growth outcomes of firm performance.
Identify the statement that best describes unstructured decisions.
Unstructured decisions are nonroutine, and there is no agreed-on procedure for making them.
A strong foundation in database technology is required for ________.
business intelligence and analytics
From an information technology perspective, ________ includes the infrastructure for warehousing, integrating, reporting, and analyzing data from the business environment.
business intelligence (BI)
The implementation stage of the decision-making process involves __________.
making the chosen alternative work and continuing to monitor how well the solution is working
Studies of actual managerial performance indicate that managers perform work at a pace of _______ different activities each day.
600
__________ state(s) that the actual behavior of managers appears to be less systematic, more informal, less reflective, more reactive, and less well organized than previously thought.
Behavioral models
Which of the following best describes business intelligence?
Business intellingence (BI) is a term used by hardware and software vendors and information technology consultants to describe the infrastructure for warehousing, integrating, reporting, and analyzing data that comes from the business environment, including big data.
__________ attempt(s) to systematically translate a firm's strategies into operational targets.
Business performance management (BPM)
Which of the following statements best describes business performance management (BPM)?
Business performance management attempts to systematically translate a firm's strategies into operational targets.
Which stage of the decision-making process consists of selecting among solution alternatives?
Choice stage
Which of the stages of the decision-making process involves identifying and exploring various solutions to the problem?
Design
Which of the following provide tools to help decision makers visualize problems that benefit from mapping?
Geographic information systems
Which of the following statements best describes geographic information systems (GIS)?
Geographic information systems (GIS) provide tools to help decision makers visualize problems that benefit from mapping.
Which of the following best describes group decision-support systems (GDSS)?
Group decision-support systems (GDSS) are interactive computer-based systems that facilitate the solution to unstructured problems by a set of decision makers working together as a group.
What is GDSS?
Group decision-support system
In which of those roles do managers act as the nerve centers of their organizations, receiving the most concrete, up-to-date information and redistributing it to those who need to be aware of it?
Informational
Making a decision is a multistep process. Which list below contains the four different stages in decision making?
Intelligence, design, choice, and implementation
Which of the following represents an unstructured decision in this scenario?
Jaden's interest in expanding business into the Asian market
Identifying ________ is a way for managers to determine how to measure the effectiveness of an organization.
KPIs
__________ is the ability to gain business insights from the geographic component of data, including location data from mobile phones, output from sensors or scanning devices, and data from maps.
Location analytics
Which of the following statements best describes the classical model of management?
Management focused on its formal functions of planning, organizing, coordinating, deciding, and controlling
Which of the following is typically true of the types of decisions in an organization?
Middle management faces more structured decision scenarios, but its decisions may include unstructured components.
__________ is the use of data mining techniques, historical data, and assumptions about future conditions to predict outcomes of events, such as the probability a customer will respond to an offer or purchase a specific product.
Predictive analytics
Which of the following statements is true of predictive analytics?
Predictive analytics is the use of data mining techniques, historical data, and assumptions about future conditions to predict outcomes of events, such as the probability a customer will respond to an offer or purchase a specific product.
Which list below contains the analytic functionalities that BI systems deliver?
Production reports, parameterized reports, dashboards/scorecards, ad hoc query/search/report creation, and drill down.
Which of the following concern(s) situations where only part of the problem has a clear-cut answer provided by an accepted procedure?
Semi-structured decisions
__________ is a model that asks what-if questions repeatedly to predict a range of outcomes when one or more variables are changed multiple times.
Sensitivity analysis
Which of the following statements best describes sensitivity analysis?
Sensitivity analysis is a model that asks what-if questions repeatedly to predict a range of outcomes when one or more variables are changed multiple times.
What types of decisions are repetitive, routine, and involve a definite procedure for handling?
Structured decisions
__________ are repetitive and routine, and they involve a definite handling procedure so that they do not have to be treated each time as if they were new.
Structured decisions
Which of the following statements best describes structured decisions?
Structured decisions are repetitive and routine decisions which are handled procedurally.
__________ refers to a framework for operationalizing a firm's strategic plan by focusing on measurable financial, business process, customer, and learning and growth outcomes of firm performance.
The balanced scorecard method
In their interpersonal role, managers _________.
act as figureheads for the organization to the outside world and perform symbolic duties
In their informational role, managers __________.
act as the nerve centers of their organizations, receiving the most concrete, up-to-date information and redistributing it to those who need to be aware of it
Regarding business intelligence and analytics capabilities, a(n) ________ allows users to generate their own reports based on searches.
ad hoc query
Integrating the information streams produced by a firm into a single, coherent enterprise-wide set of data, and then using modeling, statistical analysis tools, and data mining tools to make sense out of all these data so that managers can make better decisions and better plans describes the functions of __________.
business intellingence (BI) and business analytics (BA)
According to the balanced scorecard framework, a firm's ________ strategic objectives include accident ratios and equipment downtown.
business process
The ________ model of management describes the five traditional functions of managers as planning, organizing, coordinating, deciding, and controlling.
classical
The choice stage of the decision-making process __________.
consists of choosing among solution alternatives
According to the balanced scorecard framework, a firm's ________ strategic objectives include customer loyalty and customer retention.
customer
A manager's ________ role includes handling disputes.
decisional
Regarding the decision-making process, ________ includes examining alternatives to solve the problem.
design
The intelligence stage involves __________.
discovering, identifying, and understanding the problems occurring in the organization—why a problem exists, where, and what effects it is having on the firm
Regarding business intelligence and analytics capabilities, a(n) ________ allows moving from a high-level summary to a micro-level view.
drill down
The acronym ESS stands for ________.
executive support system
According to the balanced scorecard framework, a firm's ________ strategic objectives include cash flow and return on equity.
financial
Mapping areas of the country with higher RSV rates is an example of a ________.
geographic information systems (GIS)
Cisco's collaboration meeting rooms hybrid (CMR) is an example of a(n) ________.
group decision-support system
The ________ role is NOT one of the activities that managers are expected to perform in an organization.
high velocity
The design stage of the decision-making process involves _________.
identifying and exploring various solutions to the problem
Regarding the decision-making process, ________ includes making the chosen solution work.
implementation
The __________ stage of the decision-making process involves making the chosen alternative work and continuing to monitor how well the solution is working.
implementation
A manager's ________ role includes obtaining the most up-to-date information.
informational
Regarding the decision-making process, ________ includes discovering and understanding problems occurring in the organization.
intelligence
The __________ stage of the decision-making process involves discovering, identifying, and understanding the problems occurring in the organization.
intelligence
In the __________ role, managers act as figureheads for the organization when they represent their companies to the outside world and perform symbolic duties.
interpersonal
Information systems tools such as telepresence systems, social networks, and Twitter can be used to support a manager's __________ role.
interpersonal
Behavioral models suggest that the actual actions of managers are ________ than previously believed.
more informal
Business intelligence users can be grouped into two types: _______ who comprise _______ of employees, and _______ who comprise ________ of employees.
power users; 20%; casual users; 80%
FedEx has been using ________ to develop models of how customers will respond to price changes and new services.
predictive analytics
Regarding business intelligence and analytics capabilities, a(n) ________ could include submitting financial documents to the SEC using XBRL (industry-specific requirements).
production report
A decision where only part of the problem has an obvious answer is an example of a(n) ________ decision.
semistructured
Not allowing credit if an individual's credit score is below 600 is an example of a(n) ________ decision.
structured
Location analytics refers to __________.
the ability to gain business insights from the geographic component of data, including location data from mobile phones, output from sensors or scanning devices, and data from maps
Behavioral models state that __________.
the actual behavior of managers appears to be less systematic, more informal, less reflective, more reactive, and less well organized than the classical model would have us believe
Management focused on its formal functions of planning, organizing, coordinating, deciding, and controlling describes __________.
the classical model of management
Senior executives determining five-year goals is an example of a(n) ________ decision.
unstructured
A report showing an employee's age as a negative number is useless because it lacks ________.
validity
A manager that is considered to be a "super user" ________.
wants to create their own reports and use more sophisticated analytics