Business Analytics Overview

What is the primary objective of business analytics?

• To analyze financial data only

• To improve business decision-making

• To reduce operational costs

• To enhance customer satisfaction

Which of the following is NOT a component of business analytics?

• Descriptive Analytics

• Predictive Analytics

• Prescriptive Analytics

• Market Research Analytics

What type of analysis focuses on understanding historical data and trends?

• Predictive Analytics

• Prescriptive Analytics

• Descriptive Analytics

• Diagnostic Analytics

What does “big data” refer to in the context of business analytics?

• A small set of complex data

• Data that is hard to analyze with traditional methods due to its volume, velocity, and variety

• Data related to business transactions only

• Data that can be manually analyzed

What does the term “data mining” refer to?

• The process of storing data in a database

• The process of analyzing large sets of data to identify patterns and relationships

• The process of reducing data to make it easier to manage

• The process of deleting unnecessary data

How can business analytics be used in supply chain management?

• To improve customer satisfaction

• To predict and manage inventory levels

• To create marketing strategies

• To develop new product designs

What is one application of business analytics in human resources?

• Predicting the economic conditions of a country

• Employee performance analysis

• Financial forecasting

• Improving manufacturing processes

In which way does business analytics apply to customer relationship management (CRM)?

• It helps in tracking customer complaints

• It forecasts future customer needs and behavior

• It calculates production costs

• It automates email marketing campaigns

Which of the following would be considered an example of a data quality issue in business analytics?

• Missing values in a dataset

• Correct data collected from various sources

• Accurate results derived from an analysis

• Clean and transformed data ready for visualization

What is a data mart?

• A large database used for storing transactional data

• A subset of a data warehouse, focusing on specific business areas

• A tool for managing big data

• A system used to process real-time data