Mastering Business Analytics
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Questions and Answers

What is Business Analytics used for?

  • Increasing revenue
  • Reducing cost
  • Improving business operations (correct)
  • Forecasting trends

Which of the following is not a component of Business Analytics?

  • Marketing strategies (correct)
  • Information technology
  • Data
  • Statistical analysis

What type of models does Business Analytics use?

  • Economic
  • Physical
  • Psychological
  • Mathematical (correct)

What is a potential use of business analytics in the healthcare industry?

<p>Scheduling operating rooms to improve utilization (C)</p> Signup and view all the answers

What can business analytics be used for in the retail industry?

<p>Identifying and targeting key customer groups (D)</p> Signup and view all the answers

In which sector can business analytics be utilized for determining brands to buy, quantities, and allocations?

<p>Merchandising (C)</p> Signup and view all the answers

How can business analytics be applied in the staffing sector?

<p>Ensuring appropriate staffing levels and capabilities (C)</p> Signup and view all the answers

What is a possible application of business analytics in the supply chain?

<p>Determining the best sourcing and transportation options (C)</p> Signup and view all the answers

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