Questions and Answers
What is the last step in the decision-making process according to the text?
Choose an alternative
Which category of analytics includes tools such as reports, data visualization, and descriptive statistics?
Descriptive analytics
What are two key factors that make decision making difficult according to the text?
Uncertainty and an overwhelming number of alternatives
Which level of decision making is concerned with the overall direction of the business?
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What do business analytics approaches assist in according to the text?
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Which category of analytics prescribes the best course of action from a very large number of alternatives?
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What is the main difference between predictive and prescriptive analytics?
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What are the characteristics of big data?
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What is the goal of business analytics?
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What is the primary function of data scientists?
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What is the purpose of Hadoop in the context of big data?
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What does the Internet of Things (IoT) technology enable?
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What does simulation optimization involve?
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What is the key focus of decision analysis?
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What does utility theory study?
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What is the primary function of MapReduce within Hadoop?
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What makes a set of data 'big data'?
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