Quiz 1 (Business Analytics)

It is an analytics that uses past data to determine the impact of one variable on another.

Any set of data that is too large or too complex to be handled by standard data-processing techniques and typical desktop software.

A type of decision that is concerned with the overall direction of the organization.

It is a data-driven decision making approach.

The 4 V's of Big Data are:

A decision on how to run the day to day operation of the organization.

an analytical model that shows the best decision among alternative solutions.

The use of probability and statistics to model uncertainty to find good decisions in highly complex and highly uncertain settings.

It uses analytical tools that describes what happened in the past.

The study of the total worth or relative desirability of a particular outcome that reflects the decision maker’s attitude toward a collection of factors such as profit, loss,

and risk.