18 Questions
What is the primary focus of the third generation of analytics?
Supporting operational decisions with real-time data
In the context of decision-making, what does the Dual-Process Theory refer to?
A theory that emphasizes the use of both analytics and intuition in decision-making
What sets apart the second generation of analytics, represented by EDW, from the first generation DSS?
Focus on structured and batch-updated data
Which era in the development of data-related systems primarily focused on personal computing?
1970-1980
What characterizes the first generation of analytics, known as the DSS?
Single decision-maker using data and analytic aids
In the context of information systems, what mainly differentiates hardware from software?
Physical components vs. programs and applications
What period in the evolution of data management focused on automating processes but faced challenges due to lack of consensus on success?
1950s
In which era of data management did decision support and inter-personal collaboration become important objectives despite facing challenges regarding the strategic value?
1990s
During which period of data management evolution was there a trade-off between user acceptance and business goals in pursuit of customized individual experiences?
2000s
Which era of data management evolution aimed at minimizing bias for AI and ML by limiting human input?
2010s
During which period did data management involve optimizing outcome prediction, insights, opportunity identification, and integration of data sources?
2010s
What was a major challenge faced during the 1960s period in data management evolution?
Information Overload
What is a key characteristic of Rationalist Views on Decision-Making?
Emphasizes a logical and linear step-by-step process
Which type of decision-making process aims to understand how decisions are actually made within the complexity of reality?
Naturalist Views
What distinguishes System 1 from System 2 in the Dual-Process Theory of decision-making?
System 1 is unconscious and undemanding, while System 2 involves analytic intelligence
How do Naturalist Views on Decision-Making differ from Rationalist Views?
Naturalist Views aim to understand actual decision-making, while Rationalist Views focus on normative approaches
What is a fundamental aspect of the Dominant Views on Decision-Making described in the text?
Complexity of reality is considered when evaluating decisions
Which method is suitable for situations where decision-makers are familiar with the context and requires heuristics to limit alternatives?
System 1 in Dual-Process Theory
Test your knowledge on Safety and Emergency Information, Foundations and Backdrop, Ethics and Ecologies related to Big Data and Advanced Analytics as part of the BUSA8030 course. Explore the significance of Decision-Making in management and collaboration with data experts.
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