5 Questions
What is the role of analytics in business optimization?
Revealing hidden patterns in data and answering unidentified questions
What does optimization help decision makers with?
Handling difficult trade-offs when limited resources force choices among alternative options
What is one advantage of optimization in decision-making?
Providing better decision-making when there are overwhelming number of factors to consider with complex inter-relationships among them
What does analytics reveal in data?
Hidden patterns and answers to unidentified questions
What is the concept of reference architecture used for in business analytics?
Understanding the use of reference architecture in business analytics
Study Notes
- IBM ICE (Innovation Centre for Education) offers a unit on Business Analytics and Optimization for IBM Power Systems
- Completing this unit enables learning about analytics basics, its role in business optimization, advantages of optimization, and reference architecture
- Analytics uncovers hidden patterns in data, answering previously unidentified questions
- Optimization extends analytics' power by helping decision-makers handle resource-constrained, complex choices
- Self-evaluation exercise provided after learning Business Analytics steps, to apply concepts using various tools and open-source applications.
Test your understanding of the basics of analytics, the role of analytics in business optimization, advantages of optimization, and the use of reference architecture in business analytics. See how well you have grasped the concepts from this IBM ICE (Innovation Centre for Education) unit.
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