BUSINESS ANALYTICS

Types of analytics that use of data to understand past and current business performance and make informed decisions.

• Descriptive analytics

• Predictive analytics

• Prescriptive analytics

Types of analytics that examining historical data, detecting patterns or relationships in these data, and then extrapolating these relationships forward in time.

• Descriptive analytics

• Predictive analytics

• Prescriptive analytics

Types of analytics that identify the best alternatives to minimize or maximize some objective

• Descriptive analytics

• Predictive analytics

• Prescriptive analytics

It can be numerical or textual facts and figures that are collected through some type of measurement process.

• data

• information

• analytics

It is the result of analyzing data; that is, extracting meaning from data to support evaluation and decision making.

• data

• information

• analytics

Which of the following belongs to external source of data?

• economic trend

• annual report

• accounting audits

• Human resource measurements

It refers to massive amounts of business data from a wide variety of sources, much of which is available in real time, and much of which is uncertain or unpredictable.

• big data

• value

• variety

• volume

It refers to the amount of data that exists. It is like the base of big data, as it is the initial size and amount of data that is collected.

• volume

• variety

• velocity

• veracity

• value

It refers to how quickly data is generated and how quickly that data moves. This is an important aspect for companies need that need their data to flow quickly, so it's available at the right times to make the best business decisions possible.

• volume

• variety

• velocity

• veracity

• value

It refers to the diversity of data types. An organization might obtain data from a number of different data sources.

• volume

• variety

• velocity

• veracity

• value