Math Modeling for Decision Making: Quiz and Flashcards

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Questions and Answers

What is the main repository of data available to develop a business intelligence analysis in current business intelligence architectures?

Company data warehouse (correct)

Knowledge management

Model management module

Data mart

Which module in a DSS provides end users with mathematical models derived from operations research, statistics, and financial analysis?

Interface module

External data

Standard models

Model management (correct)

What role does the data mart typically play in most applications?

Connected with a company data warehouse

Main repository of data (correct)

Collection of mathematical models

Provides ad hoc models

What type of models are provided by the model management module in a DSS?

Simple statistical models Signup and view all the answers

Which function of current spreadsheets is similar to the role of the model management module in a DSS?

Simple optimization models Signup and view all the answers

How does the model management module assist knowledge workers in a DSS?

By offering ad hoc model development using high-level languages Signup and view all the answers

What should a decision abide by, in addition to being compliant with the law?

Ethical principles and social rules of the community Signup and view all the answers

In the decision-making process, what is done during the exclusion stage?

Applying compatibility rules and restrictions to identified alternative actions Signup and view all the answers

What is the main purpose of evaluating feasible alternatives?

To identify the preferred decision based on performance criteria Signup and view all the answers

Why may a decision be unworkable despite being ideal from economic, legal, and social standpoints?

Due to cultural limitations of the organization Signup and view all the answers

What should a decision maker assess in relation to a specific decision besides economic, legal, and social factors?

Political consequences among individuals, departments, and organizations Signup and view all the answers

What major methodological reference was proposed in the early 1960s regarding the decision-making process?

A compelling representation Signup and view all the answers

What is one advantage of adopting mathematical models in the decision-making process?

Forces decision makers to focus on the main features of the domain Signup and view all the answers

How does building a mathematical model contribute to knowledge preservation within an organization?

It allows for easier transfer of knowledge to others in the organization Signup and view all the answers

Why is a mathematical model developed for a specific task considered general and flexible?

It can often be applied to solve problems of a similar type in different situations Signup and view all the answers

In a business intelligence system architecture, what is the primary task related to data sources?

Gathering and integrating data from various primary and secondary sources Signup and view all the answers

What is one of the techniques mentioned for achieving data integration in a data warehouse?

Using uniform encoding methods Signup and view all the answers

How does the correction of data in a data warehouse affect business intelligence systems?

Increases the practical value Signup and view all the answers

What type of data sources are typically included in a business intelligence system architecture?

Data from operational systems and unstructured documents like emails Signup and view all the answers

Why are complex queries for OLAP analyses directed to the data warehouse and not operational systems?

To maintain efficiency in enterprise resource planning applications Signup and view all the answers

How does the adoption of mathematical models enhance knowledge transfer within an organization?

By allowing for easier transfer of domain knowledge to other individuals Signup and view all the answers

What is a primary benefit of physically separating the data warehouse from operational systems?

Protects operational systems from 'killer' queries Signup and view all the answers

Why is extending the time span of data important in a data warehouse?

To have historical records available for analysis Signup and view all the answers

What role does semantic homogeneity play in data integration within a data warehouse?

Ensures consistency in information interpretation Signup and view all the answers

Where does data from back-office systems usually originate?

Basic transactional records like orders and invoices Signup and view all the answers

Which type of system is responsible for data originating from call-center activities and customer assistance?

Front-office systems Signup and view all the answers

What do geographic information systems (GIS) provide as a significant source of external data?

Latitude and longitude coordinates Signup and view all the answers

Which type of data might one expect to find in front-office systems?

Website visit data Signup and view all the answers

What kind of data do external sources like agencies provide to extend internal databases?

Market surveys and consumer opinions Signup and view all the answers

What primarily distinguishes back-office systems from front-office systems?

The type of data they collect Signup and view all the answers

Study Notes

Data Repositories and Business Intelligence Architectures

The primary repository of data for business intelligence analysis is the data warehouse.

Decision Support Systems (DSS)

The model management module in a DSS provides end-users with mathematical models derived from operations research, statistics, and financial analysis.
The model management module assists knowledge workers in a DSS by enabling them to build, store, and manage mathematical models.

Decision-Making Process

A decision should abide by ethical standards, in addition to being compliant with the law.
During the exclusion stage, decision-makers identify and eliminate unsuitable options.
The main purpose of evaluating feasible alternatives is to select the best option.
A decision may be unworkable despite being ideal from economic, legal, and social standpoints due to feasibility issues.
A decision maker should assess the decision's impact on the organization, besides economic, legal, and social factors.
The major methodological reference proposed in the early 1960s regarding the decision-making process is the rational model.

Mathematical Models

One advantage of adopting mathematical models in the decision-making process is that they enhance knowledge preservation within an organization.
Building a mathematical model contributes to knowledge preservation by allowing knowledge workers to document and share their knowledge.

Business Intelligence Systems Architecture

The primary task related to data sources in a business intelligence system architecture is to integrate data from various sources.
Data integration techniques include data federation, ETL (Extract, Transform, Load), and data virtualization.
Correcting data in a data warehouse affects business intelligence systems by ensuring data quality and reliability.
Typical data sources in a business intelligence system architecture include OLTP (Online Transactional Processing) systems, external sources, and front-office systems.
Complex queries for OLAP (Online Analytical Processing) analyses are directed to the data warehouse, not operational systems, to minimize the load on operational systems.

Data Warehouse

Physically separating the data warehouse from operational systems enhances system performance and improves data quality.
Extending the time span of data in a data warehouse is important for analyzing trends and predicting future outcomes.
Semantic homogeneity plays a crucial role in data integration within a data warehouse by ensuring consistency in data definitions and format.

Data Sources

Data from back-office systems usually originates from transactional systems, such as ERP (Enterprise Resource Planning) systems.
Data originating from call-center activities and customer assistance comes from CRM (Customer Relationship Management) systems.
Geographic information systems (GIS) provide spatial data as a significant source of external data.
Front-office systems typically include data from sales, marketing, and customer-facing activities.
External sources like agencies provide demographic, economic, and environmental data to extend internal databases.
Back-office systems primarily focus on internal operations, whereas front-office systems focus on customer-facing activities.

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Description

Explore the benefits of using mathematical models in decision making processes, beyond just improving effectiveness. Learn how abstract models can deepen understanding of the analyzed domain and lead to long-term advantages.

Advantages of Mathematical Models in Decision Making

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