Business Analytics - Chapter 1

Business Analytics - Chapter 1

University

20 Qs

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Business Analytics - Chapter 1

Business Analytics - Chapter 1

Assessment

Quiz

Business

University

Practice Problem

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Created by

Rommel Sario

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20 questions

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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following best defines Business Analytics?

The process of storing business data in databases

The use of data analysis, statistical models, and predictive methods to aid decision-making

A method of collecting customer feedback

The application of intuition and experience in business decision-making

Answer explanation

Business Analytics helps businesses make data-driven decisions using analytical techniques.

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following is NOT a type of Business Analytics?

Descriptive Analytics

Diagnostic Analytics

Predictive Analytics

Transactional Analytics

Answer explanation

Transactional analytics is not a recognized type of business analytics.

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is the primary purpose of descriptive analytics?

To forecast future trends

To summarize past data and identify patterns

To determine the root cause of past events

To recommend actions based on predictions

Answer explanation

Descriptive analytics focuses on summarizing historical data.

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following best describes structured data?

Data organized in tables, such as databases and spreadsheets

Unformatted data, including emails and social media posts

A mix of structured and unstructured data

Data stored in image and video formats

Answer explanation

Structured data is well-organized and stored in tables/databases.

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which type of analytics answers the question, “Why did this happen?”

Descriptive Analytics

Diagnostic Analytics

Predictive Analytics

Prescriptive Analytics

Answer explanation

Diagnostic analytics focuses on identifying the causes of past trends.

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following is an example of a strategic decision in business?

Adjusting inventory levels for seasonal demand

Deciding to launch a new product line

Scheduling employee shifts for next week

Resolving a customer complaint

Answer explanation

Strategic decisions focus on long-term business goals.

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is the main goal of prescriptive analytics?

To describe what has happened

To analyze why something happened

To predict what might happen

To recommend the best course of action

Answer explanation

Prescriptive analytics suggests actions based on insights from data.

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