Introduction to Business Analytics
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Questions and Answers

What is the primary objective of Business Analytics?

  • Producing meaningful conclusions from data (correct)
  • Creating predictive models
  • Improving insight about business operations
  • Assembling data for Business Intelligence

    • Which statement best describes the tools used in Business Analytics?

  • Communication tools for executives
  • Data visualization techniques (correct)
  • Simulation models
  • Blockchain technology

    • What technologies are typically involved in Business Analytics?

  • Artificial intelligence and machine learning (correct)
  • Virtual reality and augmented reality
  • Blockchain and cryptocurrency
  • Quantum computing and nanotechnology

    • Which of the following is NOT part of Business Analytics solutions?

    <p>Cybersecurity measures</p> Signup and view all the answers

    What distinguishes Business Analytics from Business Intelligence?

    <p>Creation of predictive models</p> Signup and view all the answers

    Which activity falls under the scope of Business Analytics?

    <p>Optimizing supply chain logistics</p> Signup and view all the answers

    What is described as critical to business success in the knowledge economy era?

    <p>Getting the right information to decision makers at the right time</p> Signup and view all the answers

    Why is business analytics becoming one of the most sought-after courses in the academe?

    <p>Because it's a widely talked-about topic in business and information technology</p> Signup and view all the answers

    What task do business managers consider the most crucial in their role?

    <p>Analyzing data to make informed decisions</p> Signup and view all the answers

    What is emphasized as a product of analysis based on available information to the decision maker?

    <p>Data-driven decisions</p> Signup and view all the answers

    Why is getting the right information to decision makers at the right time important for businesses?

    <p>To support business success</p> Signup and view all the answers

    In the context of business analytics, what is described as a key aspect for decision making?

    <p>Analyzing data for informed decisions</p> Signup and view all the answers

    What is the main purpose of Business analytics?

    <p>To assist decision makers in making informed decisions</p> Signup and view all the answers

    Which of the following is NOT a component of Business Analytics according to the text?

    <p>Machine learning</p> Signup and view all the answers

    What distinguishes Business Intelligence (BI) from Business Analytics (BA) according to the text?

    <p>BI answers what happened, while BA answers why it happened and whether it will happen again</p> Signup and view all the answers

    How does Business Intelligence (BI) differ from Business Analytics (BA) as described in the text?

    <p>BI collects information to make data-driven decisions, while BA seeks continuous process improvement</p> Signup and view all the answers

    How does Business Analytics assist decision-makers according to the provided text?

    <p>By providing quantitative techniques to make informed decisions</p> Signup and view all the answers

    What is the primary focus of Business Intelligence as described in the text?

    <p>Collecting information from all sources for decision-making</p> Signup and view all the answers

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