INTRODUCTION TO BUSINESS ANALYTICS

Business analytics results in which of these?

• Evidence Based Decisions

• Data Driven Decisions

• Better DecisionsAll of these are correct

• All of these are correct

What statement below best describes why we do data analytics in business

• a. Analytics improve our understanding of how the business works

• b. We must show a return on the investment we make in data & analytical resources

• c. We need specific insights to make business decisions

• d. We have to calculate & report financial results to owners / shareholders

Areas of Analytics

• a. Visualization

• b. Test Analytics

• c. Forecasting

• d. Volume

Ares of Analytics

• a. Data Mining

• b. Statistics

• c. Big Data

• d. Optimization

Challenges of Business Analytics

• a. Analytical Process

• b. Environment

• c. Competition

• d. Customers

Business Analytics (BA) is a broad category of application programs which includes

• Decision support

• Data mining

• OLAP

• All of the mentioned

The first step in the business analytic process is

• a. Determine the needs of the business

• b. Collect the data

• c. Predict the outcome

• d. Analyze the data

Challenges of Business Analytics

• a. Analytical Process

• b. Environment

• c. Competition

• d. Customers

What is data that is grouped in evenly distributed values and measured based on the group to which the variable is attributed

• a. Data

• b. Nominal Data

• c. Ordinal Data

• d. Interval measurement

Indicate which level of measurement is being used in the given scenario. A car magazine lists the most expensive cars for 2017

• a. nominal

• b.ordinal

• c.Interval

• d.Ratio