BANA2 Midterm Review: Decision Making and Visualization
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Questions and Answers

Decision making is the process of making choices by identifying a ______, gathering information, and assessing alternative resolutions.

decision

Data is the ______ of everything.

foundation

Business Analytics is a set of ______ and technologies for solving business problems using data analysis, statistical models and other quantitative methods.

disciplines

Data ______ is focused on better understanding characteristics and patterns among variables in large databases using a variety of statistical and analytical tools.

<p>Mining</p> Signup and view all the answers

Simulation and Risk Analysis relies on spreadsheet models and statistical analysis to examine the impacts of ______ in the estimates and their potential interaction with one another on the output variable of interest.

<p>uncertainty</p> Signup and view all the answers

Business Intelligence covers the processes of collecting, storing, and analyzing data from business operations to optimize ______

<p>performance</p> Signup and view all the answers

Modelling and Optimization is used to find the best solution to a problem from a set of possible choices, considering specific ______ and objectives

<p>constraints</p> Signup and view all the answers

Social Media are web-based tools that focus on communication, community-based input, interaction, content sharing, and ______

<p>collaboration</p> Signup and view all the answers

Statistical Analysis is the science of collecting, exploring, and presenting large amounts of data to discover underlying patterns and ______

<p>trends</p> Signup and view all the answers

Quantitative Methods emphasize objective measurements and the statistical, mathematical, or numerical analysis of data collected through polls, questionnaires, and surveys, or by manipulating pre-existing statistical data using ______ techniques

<p>computational</p> Signup and view all the answers

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