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Questions and Answers
What are the five steps involved in the decision-making process?
What are the five steps involved in the decision-making process?
- Identify, evaluate, choose, implement, review (correct)
- Define, analyze, predict, decide, act
- Define, determine, evaluate, select, implement
- Identify, determine, evaluate, choose, implement
Which type of decision is concerned with the day-to-day operations of a company?
Which type of decision is concerned with the day-to-day operations of a company?
- Strategic decision
- Descriptive decision
- Operational decision (correct)
- Tactical decision
What are the three categories of analytics?
What are the three categories of analytics?
- Financial, human resource, and marketing
- Strategic, tactical, and operational
- Advanced, basic, and complex
- Descriptive, predictive, and prescriptive (correct)
What does descriptive analytics focus on?
What does descriptive analytics focus on?
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What is big data?
What is big data?
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What is the purpose of data mining?
What is the purpose of data mining?
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What is the purpose of simulation in decision making?
What is the purpose of simulation in decision making?
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Which best describes the difference between strategic and tactical decisions?
Which best describes the difference between strategic and tactical decisions?
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Which term refers to the network of interconnected devices that collect and share data?
Which term refers to the network of interconnected devices that collect and share data?
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What does big data analysis primarily involve?
What does big data analysis primarily involve?
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In decision-making, what distinguishes simulation from other techniques?
In decision-making, what distinguishes simulation from other techniques?
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