Business Analytics Applications
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Questions and Answers

Which application of business analytics helps companies reduce waste and improve efficiency in their operations?

  • Predictive maintenance
  • Supply chain optimization (correct)
  • Demand forecasting
  • Customer segmentation

    • What is the primary goal of business analytics in customer segmentation?

  • To estimate consumer demand
  • To optimize prices dynamically
  • To group customers based on common characteristics (correct)
  • To identify fraudulent activities

    • Which application of business analytics helps streaming services like Netflix recommend content to users?

  • Predictive maintenance
  • Personalized recommendations (correct)
  • Demand forecasting
  • Supply chain optimization

    • What is the main benefit of using business analytics for predictive maintenance in manufacturing?

    <p>Minimized downtime and repair costs</p> Signup and view all the answers

    Which application of business analytics helps financial institutions detect fraudulent activities?

    <p>Fraud detection</p> Signup and view all the answers

    What is the primary application of business analytics in enhancing customer service?

    <p>Improved customer service</p> Signup and view all the answers

    What is a potential research topic in Business Analytics that involves predicting when equipment failures might occur?

    <p>Predictive Maintenance</p> Signup and view all the answers

    In the context of Business Analytics, what is the term for dividing a market into smaller segments to better understand customer behavior?

    <p>Customer Segmentation</p> Signup and view all the answers

    What is the term for using data and analytics to identify and prevent fraudulent transactions?

    <p>Fraud Detection</p> Signup and view all the answers

    In the context of Business Analytics, what is the term for using data to improve the efficiency of logistics and inventory management?

    <p>Supply Chain Optimization</p> Signup and view all the answers

    What is the term for using data and analytics to recommend products to customers based on their past behavior?

    <p>Personalized Recommendations</p> Signup and view all the answers

    What is the term for using statistical models to forecast future events or behaviors?

    <p>Predictive Modeling</p> Signup and view all the answers

    What is a thesis in the context of business analytics?

    <p>A research project undertaken by students pursuing advanced degrees</p> Signup and view all the answers

    What is the primary purpose of a thesis project?

    <p>To learn more about a subject</p> Signup and view all the answers

    What areas of study does a thesis project often span?

    <p>Computer science and information systems</p> Signup and view all the answers

    What is a thesis project similar to?

    <p>A preparation for working life</p> Signup and view all the answers

    What can a thesis project be viewed as?

    <p>A preparation for graduate studies</p> Signup and view all the answers

    What elements do computer science and information systems have?

    <p>Elements from natural sciences</p> Signup and view all the answers

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