Final Exam IST 3110

Turing Test

A method proposed by Alan Turing to determine whether a machine exhibits human-like intelligence.

Analytics Process

A structured sequence of steps used to transform data into insights for decision making.

Decision Support Framework

A model showing how different types of decisions (structured

Artificial Intelligence (AI)

The development of systems capable of performing tasks that normally require human intelligence.

Weak AI

AI designed for a narrow task with limited scope.

Strong AI

AI with generalized human-like intelligence.

Natural vs Artificial Intelligence

Comparison of human cognitive abilities versus machine-based processing and reasoning.

Preservation of Knowledge

AI stores knowledge permanently while human knowledge is perishable.

Duplication of Knowledge

AI can duplicate and distribute knowledge quickly and cheaply.

Creativity (AI vs Human)

Humans show high creativity; AI creativity is limited.

Pattern Recognition

AI uses machine learning to detect patterns

Reasoning (AI)

AI reasons well in narrow

Expert Systems

AI systems that replicate the decision-making ability of human experts.

Expert System Problems

Difficulty transferring human expertise

Machine Learning

Algorithms that allow systems to learn from data and improve over time.

Deep Learning

A subset of machine learning using neural networks with many layers.

Machine Learning Bias

Systematic errors in ML models caused by biased data or underspecification.

Underspecification

When a model performs well on training data but fails in real-world scenarios.

False Positives

Incorrectly identifying something as true when it is not.

Supervised Learning

ML method using labeled data to train models.

Semi-supervised Learning

ML method using a mix of labeled and unlabeled data.

Unsupervised Learning

ML method that finds patterns in unlabeled data.

Reinforcement Learning

ML method where an agent learns through rewards and penalties.

Neural Networks

Computational models inspired by the human brain

Nodes

Basic processing units in a neural network.

Synapses

Connections between nodes in a neural network.

Weights

Numerical values that determine the strength of connections in a neural network.

Biases

Constants added to weighted inputs to adjust model output.

Activation Functions

Mathematical functions that determine node output (e.g.

Recurrent Neural Networks (RNNs)

Neural networks designed for sequential data.

Convolutional Neural Networks (CNNs)

Neural networks specialized for image processing.

Generative Adversarial Networks (GANs)

Neural networks that generate new data by pitting two models against each other.

Computer Vision

AI that enables computers to interpret visual information.

Natural Language Processing (NLP)

AI that enables computers to understand human language.

Robotics

AI-driven machines that perform physical tasks.

Speech Recognition

AI that converts spoken language into text.

Chatbots

AI systems that simulate conversation.

ChatGPT

A large language model used for text generation and analysis.

ChatGPT Detectors

Tools designed to identify AI-generated text.

AI in Accounting

AI used for taxes and auditing.

AI in Finance

AI used for automation

AI in Marketing

AI used for campaigns

AI in Production/Operations

AI used in factories

AI in Human Resources

AI used for recruiting

AI in MIS

AI used for security

Business Analytics (BA)

The use of data and tools to support decision making.

Business Intelligence (BI)

Technologies and processes for analyzing business information.

Managerial Roles

Interpersonal

Decision-Making Process

The structured phases managers follow when making decisions.

Structured Decisions

Routine decisions with clear procedures.

Semi-structured Decisions

Decisions with some defined steps but requiring judgment.

Unstructured Decisions

Decisions with no clear procedure requiring human intuition.

Operational Control

Day-to-day operational decisions.

Management Control

Mid-level decisions involving resource use.

Strategic Planning

Long-term

Business Analytics Targets

Application development

Business Analytics Tools

Excel

Descriptive Analytics

Analytics that summarize past data.

OLAP

Multidimensional analysis for exploring data.

Data Mining

Discovering patterns in large datasets.

Decision Support Systems (DSS)

Tools that support decision making.

Sensitivity Analysis

Examining how changes in inputs affect outputs.

What-if Analysis

Testing hypothetical scenarios.

Goal-seeking Analysis

Finding inputs needed to achieve a desired output.

Predictive Analytics

Using data to forecast future outcomes.

Predictive Data Mining

Applying predictive models in industries like retail

Prescriptive Analytics

Recommending actions using optimization

Dashboards

Visual displays of key performance indicators.

Critical Success Factors (CSFs)

Essential areas for organizational success.

Key Performance Indicators (KPIs)

Metrics used to measure CSFs.

Status Access

Real-time access to current data.

Trend Analysis

Identifying patterns over time.

Exception Reporting

Highlighting deviations from expected values.

Geographic Information Systems (GIS)

Systems that capture and analyze spatial data.

Geocoding

Converting addresses into latitude and longitude.