CBMEC 109 - Business Analytics Midterm Exam

What is the primary goal of Business Analytics?

• To collect as much data as possible

• To analyze data and support decision-making

• To replace human decision-making entirely

• To store data efficiently

Which of the following is NOT one of the 4 Vs of Big Data?

• Volume

• Variety

• Visibility

• Velocity

What does 'Volume' in Big Data refer to?

• The diversity of data types

• The speed at which data is generated

• The amount of data being processed

• The accuracy of data

Which component of Business Analytics focuses on identifying trends and insights from historical data?

• Descriptive Analytics

• Predictive Analytics

• Prescriptive Analytics

• Diagnostic Analytics

What does 'Variety' in Big Data represent?

• The speed at which data is generated

• Different types of data (structured, semi-structured, unstructured)

• The number of data sources

• The reliability of data

Predictive Analytics is primarily used for:

• Summarizing past events

• Determining the root causes of problems

• Forecasting future trends and outcomes

• Automating business decisions

Which of the following is an example of structured data?

• Customer reviews on a website

• Video recordings of customer interactions

• A database of customer names and purchase history

• Social media posts

What is the role of Business Intelligence (BI) in Business Analytics?

• It replaces all human decision-making

• It provides real-time insights using dashboards and reports

• It is primarily used for programming applications

• It only focuses on collecting raw data

What does 'Velocity' in Big Data mean?

• The accuracy of data

• The speed at which data is generated and processed

• The different types of data available

• The overall cost of data processing

What is an example of Prescriptive Analytics?

• A report summarizing last year’s sales

• A model predicting next quarter’s revenue

• A recommendation system suggesting marketing strategies

• A database of customer demographics