Drivers of Business Analytics Week 3

Drivers of Business Analytics Week 3

University

10 Qs

quiz-placeholder

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Drivers of Business Analytics Week 3

Drivers of Business Analytics Week 3

Assessment

Quiz

Computers

University

Easy

Created by

Andy Ohemeng

Used 3+ times

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Based on Andy's presentation in class today, which of the following refers to the increasing volume, variety, and velocity of data generated by businesses and individuals?

Value

Volume

Veracity

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which factor has made it easier and more cost-effective to process and analyze large datasets in business analytics?

Technological advancements

Regulatory compliance

Market demand

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why do organizations seek a competitive advantage through business analytics?

To improve data veracity

To enhance operational efficiency

To outperform competitors

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why is understanding customer behavior important in business analytics?

To optimize operational efficiency

To gain a competitive edge

To meet regulatory requirements

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How does business analytics contribute to risk management?

By enabling real-time data processing

By identifying cost-saving opportunities

By detecting and mitigating risks

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary goal of data-driven decision-making in business analytics?

To make informed and accurate decisions

To improve data veracity

To meet customer demand

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In what way does business analytics contribute to operational efficiency?

By analyzing customer behavior

By forecasting future market trends

By optimizing processes and reducing costs

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