Podcast
Questions and Answers
In the spectrum of business analytics, which is the most complex?
In the spectrum of business analytics, which is the most complex?
- Prescriptive (correct)
- Descriptive
- Operational
- Predictive
What do HR personnel use to manage an organization’s human resource activities, such as hiring employees and tracking employee retention?
What do HR personnel use to manage an organization’s human resource activities, such as hiring employees and tracking employee retention?
- Descriptive and predictive analytics (correct)
- Descriptive and prescriptive analytics
- Predictive analytics
- Predictive and prescriptive analytics
What directly leads to a better understanding of consumer behavior through analytics?
What directly leads to a better understanding of consumer behavior through analytics?
- More profits
- Reduced risk
- Better pricing strategies (correct)
- Reduced advertising costs
How does a light bulb manufacturer use descriptive analytics?
How does a light bulb manufacturer use descriptive analytics?
What does the U.S. Internal Revenue Service use to identify patterns in questionable annual personal income tax filings?
What does the U.S. Internal Revenue Service use to identify patterns in questionable annual personal income tax filings?
Which type of decisions are concerned with the day-to-day activities of the organization?
Which type of decisions are concerned with the day-to-day activities of the organization?
What is the most critical step of the decision-making process?
What is the most critical step of the decision-making process?
Which approach to making decisions involves relying on past practices and customs?
Which approach to making decisions involves relying on past practices and customs?
Picks and Axes Inc. opening retail stores across major areas of the city to complement its Internet-based strategy is categorized as a(n) _____.
Picks and Axes Inc. opening retail stores across major areas of the city to complement its Internet-based strategy is categorized as a(n) _____.
What are tactical decisions concerned with?
What are tactical decisions concerned with?
Which type of decisions involve managing resources and ensuring smooth operations?
Which type of decisions involve managing resources and ensuring smooth operations?
What is the primary focus of data-driven decision making?
What is the primary focus of data-driven decision making?
What type of analytics are data dashboards considered to be?
What type of analytics are data dashboards considered to be?
Which technique involves the extraction of information from a manufacturing plant’s database regarding shipments?
Which technique involves the extraction of information from a manufacturing plant’s database regarding shipments?
What do corporate-level managers use to summarize sales and company-wide metrics in a single screen?
What do corporate-level managers use to summarize sales and company-wide metrics in a single screen?
What type of analytics directs police officers to areas where crimes are likely to occur based on past data?
What type of analytics directs police officers to areas where crimes are likely to occur based on past data?
Which technique is used in predictive analytics?
Which technique is used in predictive analytics?
What technique is used to predict customer purchases based on offering a discount on a product?
What technique is used to predict customer purchases based on offering a discount on a product?
What is used in the pharmaceutical industry to assess the risk of introducing a new drug?
What is used in the pharmaceutical industry to assess the risk of introducing a new drug?
What analytical technique helps in arriving at the best decision?
What analytical technique helps in arriving at the best decision?
What does simulation optimization help in?
What does simulation optimization help in?
When faced with several alternatives and an uncertain set of future events, what does a decision maker use to develop an optimal strategy?
When faced with several alternatives and an uncertain set of future events, what does a decision maker use to develop an optimal strategy?
What is the primary focus of big data as per the given options?
What is the primary focus of big data as per the given options?
