Business Intelligence Chapter 1 Quiz
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Questions and Answers

What are three factors that might be part of a predictive model for season ticket renewals?

Factors such as customer demographics, past renewal behavior, and ticket pricing may be part of a predictive model.

What techniques can football teams use to do opponent analysis?

Techniques include studying game footage, analyzing player statistics, and evaluating team formations.

How can wearables improve player health and safety?

Wearables can monitor vital signs, track physical exertion, and assess injury risk.

What kinds of new analytics can trainers use?

<p>Trainers can use performance analytics, health monitoring data, and injury prediction algorithms.</p> Signup and view all the answers

What other analytics uses can you envision in sports?

<p>Analytics can be used in player recruitment, game strategy optimization, and fan engagement analysis.</p> Signup and view all the answers

What is a broad definition of Business Intelligence?

<p>An umbrella term that combines architectures, tools, databases, analytical tools, applications, and methodologies.</p> Signup and view all the answers

What is a narrow definition of Business Intelligence?

<p>Descriptive analytics tools and techniques (i.e., reporting tools).</p> Signup and view all the answers

What is one significant source of revenue in the sports industry?

<p>$300B from illegal gambling</p> Signup and view all the answers

Which book popularized the use of analytics in sports?

<p>Moneyball by Michael Lewis</p> Signup and view all the answers

What aspect of sports analytics involves understanding competitors' strategies?

<p>Opponent analysis</p> Signup and view all the answers

What is an application of wearables in sports?

<p>Tracking player heart rates</p> Signup and view all the answers

How is dynamic pricing utilized in sports?

<p>Adjusting ticket prices based on demand</p> Signup and view all the answers

What is a potential benefit of using analytics in sports?

<p>Improving player health and safety measures</p> Signup and view all the answers

Which area has seen a significant rise due to the implementation of sports analytics?

<p>Gambling operations</p> Signup and view all the answers

What is a common misconception about sports analytics?

<p>It can predict player performance perfectly</p> Signup and view all the answers

What is one significant aspect of product innovation in Riddell football helmets?

<p>3-D printed helmet liner based on individual head shapes</p> Signup and view all the answers

What does Insite software currently offer as a feature in its impact monitoring system?

<p>Coaching tools and training prescriptive analytics</p> Signup and view all the answers

Which of the following is NOT a benefit of improved data management in changing business environments?

<p>Increased cognitive limits in processing information</p> Signup and view all the answers

Which of the following best describes Business Intelligence (BI)?

<p>An umbrella term that combines architectures, tools, and methodologies</p> Signup and view all the answers

What is a key driver in the evolution of Business Intelligence?

<p>Advancements in hardware, software, and network capabilities</p> Signup and view all the answers

What characteristic does Big Data specifically NOT encompass?

<p>Inflexibility in processing</p> Signup and view all the answers

Which of the following is NOT one of the 3Vs associated with Big Data?

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

What are the major components in the framework for Business Intelligence?

<p>DSS, EIS, and BI</p> Signup and view all the answers

What key issue do organizations face in managing data in current environments?

<p>Cognitive limits in processing and storing information</p> Signup and view all the answers

Why is data considered worthless without analysis?

<p>It has no business value.</p> Signup and view all the answers

Which type of company would primarily provide analytics focused software?

<p>Analytics Focused Software Developers</p> Signup and view all the answers

What innovative aspect does Riddell's helmet design incorporate to improve safety?

<p>Sensors for improved impact data</p> Signup and view all the answers

In the analytics ecosystem, what is the role of Data Management Infrastructure Providers?

<p>To manage the processing of data</p> Signup and view all the answers

How does CenterPoint Energy utilize big data?

<p>To improve customer service through outage predictions</p> Signup and view all the answers

Which of these roles is likely NOT a participant in the analytics ecosystem?

<p>Social Media Managers</p> Signup and view all the answers

What is essential for data to provide business value?

<p>It must be analyzed.</p> Signup and view all the answers

What is the primary goal of Online Transaction Processing (OLTP)?

<p>To capture data efficiently</p> Signup and view all the answers

Which of the following systems are typically part of an OLTP configuration?

<p>Operational databases</p> Signup and view all the answers

What is the primary focus of Online Analytical Processing (OLAP)?

<p>Extracting and analyzing information</p> Signup and view all the answers

How do OLAP systems typically source their data?

<p>From OLTP systems</p> Signup and view all the answers

Which of the following best characterizes the main objective of OLAP?

<p>Timely and correct information delivery</p> Signup and view all the answers

What role do ERP, SCM, and CRM systems play in relation to OLTP?

<p>They generate and store data in OLTP systems.</p> Signup and view all the answers

Which statement about OLAP is true?

<p>OLAP is concerned with historical data analysis.</p> Signup and view all the answers

What is a key distinction between OLTP and OLAP systems?

<p>OLTP systems handle data in real-time transactions.</p> Signup and view all the answers

What is Apache Hadoop primarily designed for?

<p>Data-intensive distributed applications</p> Signup and view all the answers

How does Apache Spark differ from Hadoop in terms of data processing?

<p>Spark processes the entire dataset at one time</p> Signup and view all the answers

Which of the following best describes the relationship between Spark and Hadoop?

<p>Spark requires a big data file processing platform like Hadoop</p> Signup and view all the answers

What type of organizations might offer academic programs related to analytics?

<p>Certification agencies and universities</p> Signup and view all the answers

Which product serves as an example of a vendor in the sensor market?

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

Which framework was Hadoop inspired by?

<p>Google’s file system</p> Signup and view all the answers

Which statement is true about the evolution of tools supporting Business Intelligence (BI)?

<p>New tools are emerging to better support BI processes.</p> Signup and view all the answers

Which of the following tools is primarily focused on processing large volumes of data?

<p>Apache Spark</p> Signup and view all the answers

Study Notes

Sports Analytics Overview

  • Sports analytics is a growing specialization within the broader field of analytics.
  • The sports industry generates approximately 145billioninannualrevenues,withanadditional145 billion in annual revenues, with an additional 145billioninannualrevenues,withanadditional100 billion from legal and $300 billion from illegal gambling.
  • The concept gained prominence from the book "Moneyball" by Michael Lewis, focusing on the Oakland Athletics in 2003, which led to a popular movie adaptation in 2011.
  • Current applications of analytics in sports are extensive and diverse.

Predictive Modeling and Techniques

  • Factors influencing season ticket renewals may include survey scores, previous attendance, and customer feedback.
  • Football teams utilize various techniques for opponent analysis, such as performance metrics, historical data analysis, and strategic game planning.

Technology and Player Safety

  • Wearable technology enhances player health and safety through real-time monitoring of physical conditions.
  • Trainers are adopting new analytic tools that focus on injury prevention and performance optimization.

Innovations in Equipment

  • Riddell football helmets exemplify technological advancement in sports safety.
  • Partnership with Carbon allows for custom-designed 3-D printed helmet liners tailored to individual head shapes.
  • Helmet innovation includes improved impact data collected via sensors.
  • Insite software, an industry leader in impact monitoring, provides analytics for coaching and training.

Evolving Business Needs

  • Increased hardware, software, and networking capabilities facilitate enhanced decision support and analytics.
  • Improvements in data management address the challenges of managing vast data warehouses and Big Data.
  • There is a need for knowledge management and analytical support to navigate cognitive limits in information processing.
  • Decision support systems have evolved to meet changing business environments, requiring anytime, anywhere access to analytics.

Framework for Business Intelligence (BI)

  • Business Intelligence encompasses a wide range of architectures, tools, databases, and methodologies.
  • Descriptive analytics represents a subset of BI focused on reporting and data visualization.
  • The evolution of BI has progressed through distinct phases since the 1970s, influenced by technological advancements.

BI Architecture

  • The architecture of BI integrates various components that support data analysis and decision-making.
  • Understanding the architecture is essential for leveraging BI tools effectively in a business context.

Sports Analytics Overview

  • Sports analytics is a growing specialty within the analytics field, leveraging data to gain insights in sports.
  • The sports industry generates approximately 145billionannually,withanadditionalestimated145 billion annually, with an additional estimated 145billionannually,withanadditionalestimated400 billion tied to legal and illegal gambling.
  • The concept gained popularity from Michael Lewis's “Moneyball,” highlighting the Oakland Athletics’ innovative data-driven recruitment strategies.

Predictive Modeling in Sports

  • Predictive models for season ticket renewals may include factors such as survey responses, past renewal behavior, and customer demographics.
  • Football teams can utilize techniques like analytical scouting, performance metrics, and in-game statistics for opponent analysis.

Wearable Technologies

  • Wearables enhance player health and safety by monitoring biometrics and movement patterns, enabling trainers to make informed decisions.
  • New analytics from wearables can inform training regimens and injury prevention strategies.

Evolving Business Environments

  • Increased hardware and software capabilities allow for enhanced data management and analytical support.
  • Organizations are learning to manage vast data warehouses and Big Data, overcoming traditional cognitive processing limitations.

Business Intelligence Framework

  • Business Intelligence (BI) encompasses tools, methodologies, and architectures for data analysis.
  • BI has evolved from the 1970s through various phases, incorporating data visualization and reporting techniques.

Transaction vs. Analytic Processing

  • Online Transaction Processing (OLTP) focuses on capturing high efficiency through operational databases, supporting daily transactions like sales orders.
  • Online Analytical Processing (OLAP) extracts information from OLTP systems, emphasizing data effectiveness for decision support, often utilizing data warehouses.

Big Data Characteristics

  • Big Data is defined by the 3Vs: Volume, Variety, and Velocity, making it challenging to manage with traditional tools.
  • Data must provide tangible business value through proper analysis to be utilized effectively.

Real-time Data Application

  • CenterPoint Energy employs real-time big data analytics for improved customer service through outage prediction and operational efficiency.

Analytics Ecosystem Overview

  • The analytics industry includes various players, such as data service providers, analytics-focused software developers, and academic institutions.
  • Career opportunities and entrepreneurial ventures exist across the analytics landscape, supporting a diverse range of roles.

Emerging Tools in Business Intelligence

  • Apache Hadoop supports large-scale data processing through a distributed framework, enabling operations on petabytes of data.
  • Apache Spark excels in fast data processing, functioning on data distributed on Hadoop systems, often achieving speeds up to 100 times faster than traditional methods.

Sensor Market Innovations

  • Examples of innovation in the sensor market include applications such as SmartBin, which enhance operational efficiencies and data collection in various industries.

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Business Intelligence, Analytics, & Data Science: A Managerial Perspective (PDF)

Description

Test your knowledge on the fundamentals of Business Intelligence, Analytics, and Data Science as introduced in Chapter 1. This quiz explores key concepts and applications, including the exciting field of sports analytics. Challenge yourself and assess your understanding of this managerial perspective.

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