Introduction to Business Analytics and Business Intelligence

FieryArtDeco avatar
FieryArtDeco
·

Start Quiz

Study Flashcards

10 Questions

What is the primary focus of Descriptive Analytics?

Summarizing raw data

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

Analytical Company

What distinguishes Data Science from Business Analytics?

Use of algorithms to surface patterns

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

Prescriptive Analytics

What is the characteristic of Predictive Analytics?

Estimating the likelihood of a future outcome

What is the main focus of business analytics?

Studying data through statistical analysis and communicating results

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

Descriptive analytics

What distinguishes business intelligence from business analytics?

BI uses past data for present performance while BA uses historical data for strategic insights

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

Prescriptive analytics

How does business analytics benefit organizations?

By helping in driving operational changes and predicting future growth

Learn about the fundamentals of business analytics and business intelligence, including statistical analysis, data communication, and information access for optimizing business performance.

Make Your Own Quizzes and Flashcards

Convert your notes into interactive study material.

Get started for free
Use Quizgecko on...
Browser
Browser