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Chapter 1
business process
GM selling and servicing an extended warranty to its customers would be an example of which of the following?
data overload
Access or exposure to too much data prevents data from being properly synthesized and interpreted is called which of the following?
analytics mindset
What is the term for the willingness and ability to specify which business questions need to be addressed, find and extract pertinent data that might address those questions, analyze those data, and then report the results to decision-makers?
information value chain
What is the term for the events and processes going all the way from the collection of data to the compilation of information to the ultimate business decision?
all the items, events, and interactions that determine a company’s financial health
What is the definition of business value?
data scientist
The business analyst serves as an intermediary between the decision maker and which of the following?
business process
What is the term for a coordinated, standardized set of activities conducted by both people and equipment to accomplish a specific business task?
data overload
While access to an enormous amount of data is good, too much data may cause which of the following?
True
True or False: The business analytics for making marketing decisions differs from the business analytics needed to make decisions regarding accounting, finance, and operations.
(2) the nature and quality of the business’s data.
Business analysts are uniquely positioned to perform this type of analysis because they typically understand (1) the questions that their business and its decision-makers are asking and which of the following?
information
Data combines with context to become which of the following?
operations
Business analytics to "get the right product to the right place at the right time" fits in which business function?
decision maker
The business analyst serves as an intermediary between the data scientist and which of the following?
Obtain the Data
What is the second step of the SOAR analytics model?
business process
GM selling and servicing an extended warranty to its customers would be an example of which of the following?
Analyze the Data.
What is the third step of the SOAR analytics model?
business analytics
What is the term for the use of data to make knowledge, draw conclusions, and address business questions?
Relevant data
What type of data are directly or closely connected to the question at hand?
analytics mindset
What is the term for the willingness and ability to specify which business questions need to be addressed, find and extract pertinent data that might address those questions, analyze those data, and then report the results to decision-makers?
prescriptive analytics
What type of analytics will address a company's best course of action given forecasts of the future?
accounting
Business analytics to "find errors or fraud" fits in which business function?
descriptive analytics
Which analytics type is generally considered require the lowest set of analyst skills?
Specify the Question
What is the first step of the SOAR analytics model?
dashboard
A means of communicating various measures that are continuously tracked is called which of the following?
Report the Results
What step follows 'Analyze the Data' in the SOAR analytics model?
Exploratory Data Visualization
Which type of data visualization is used as part of the Analyze the Data step?
Reliable data
What type of data reflects the facts or truth with little or no bias?
True
In general, data visualizations are preferred to written content to communicate results.
predictive analytics
What type of analytics will address forecasts of future performance?
Pie chart
Which data visualization type best shows composition of values?
adaptive/autonomous analytics
Which analytics type is generally considered to create the most value and requires the highest analyst skill?
line graph
Which data visualization type best shows trends over time?
dynamic reports
A report with real-time updates is called which of the following?
Explanatory Data Visualization
Which type of data visualization is used as part of the Report the Results step?
True
The majority of information transmitted to the brain is visual.
Histogram
Which data visualization type best shows the distribution of values?
scatterplot
Which data visualization type best shows the relationship between values (or between variables)?
Exploratory Data Visualization
Which type of data visualization is used as part of the Analyze the Data step?
Explanatory Data Visualization
Which type of data visualization is used as part of the Report the Results step?
