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Questions and Answers
Which function of business intelligence technologies involves analyzing historical data to identify patterns and trends?
Which function of business intelligence technologies involves analyzing historical data to identify patterns and trends?
- Online analytical processing
- Reporting
- Analytics (correct)
- Dashboard development
What is the main purpose of business intelligence tools?
What is the main purpose of business intelligence tools?
- To interpret big data
- To handle unstructured data
- To create new business opportunities
- To support business decisions (correct)
Which function of business intelligence technologies involves using algorithms to predict future outcomes?
Which function of business intelligence technologies involves using algorithms to predict future outcomes?
- Predictive analytics (correct)
- Process mining
- Data mining
- Prescriptive analytics
What can implementing an effective business intelligence strategy based on insights provide businesses with?
What can implementing an effective business intelligence strategy based on insights provide businesses with?
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Which function of business intelligence technologies involves analyzing text data to extract useful information?
Which function of business intelligence technologies involves analyzing text data to extract useful information?
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Study Notes
Business Intelligence Technologies
- Descriptive Analytics: involves analyzing historical data to identify patterns and trends.
Purpose of Business Intelligence Tools
- The main purpose is to provide actionable insights to support better decision-making.
Predictive Analytics
- Predictive Analytics: involves using algorithms to predict future outcomes.
Benefits of Business Intelligence Strategy
- Implementing an effective business intelligence strategy based on insights can provide businesses with competitive advantage, improved decision-making, and enhanced operational efficiency.
Text Analytics
- Text Analytics: involves analyzing text data to extract useful information, often using natural language processing techniques.
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