Business Analytics Applications

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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?

Minimized downtime and repair costs Signup and view all the answers

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

Fraud detection Signup and view all the answers

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

Improved customer service Signup and view all the answers

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

Predictive Maintenance 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?

Customer Segmentation Signup and view all the answers

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

Fraud Detection 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?

Supply Chain Optimization 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?

Personalized Recommendations Signup and view all the answers

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

Predictive Modeling Signup and view all the answers

What is a thesis in the context of business analytics?

A research project undertaken by students pursuing advanced degrees Signup and view all the answers

What is the primary purpose of a thesis project?

To learn more about a subject Signup and view all the answers

What areas of study does a thesis project often span?

Computer science and information systems Signup and view all the answers

What is a thesis project similar to?

A preparation for working life Signup and view all the answers

What can a thesis project be viewed as?

A preparation for graduate studies Signup and view all the answers

What elements do computer science and information systems have?

Elements from natural sciences Signup and view all the answers