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Introduction to Business Analytics and Business Intelligence

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Introduction to Business Analytics and Business Intelligence

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Questions and Answers

What is the primary focus of Descriptive Analytics?

Providing actionable insights

Guiding towards a solution

Summarizing raw data (correct)

Predicting future outcomes

Which stage of Analytical Maturity involves an organization being able to use analytics to support and evaluate decisions?

Analytically Impaired

Localized Analytics

Analytical Company (correct)

Analytical Aspiration

What distinguishes Data Science from Business Analytics?

Answers business questions with data analysis

Mainly statistics based with little coding

Primarily uses structured data

Use of algorithms to surface patterns (correct)

Which type of analytics aims to provide users with different possible actions and guides them towards a solution?

Prescriptive Analytics Signup and view all the answers

What is the characteristic of Predictive Analytics?

Estimating the likelihood of a future outcome Signup and view all the answers

What is the main focus of business analytics?

Studying data through statistical analysis and communicating results Signup and view all the answers

Which type of analytics is concerned with 'What happened and why it happened'?

Descriptive analytics Signup and view all the answers

What distinguishes business intelligence from business analytics?

BI uses past data for present performance while BA uses historical data for strategic insights Signup and view all the answers

Which analytics type is concerned with 'What should we do next?'

Prescriptive analytics Signup and view all the answers

How does business analytics benefit organizations?

By helping in driving operational changes and predicting future growth Signup and view all the answers