AMIS2713 - Chapter 1 Part 1

What is the primary purpose of business analytics?

• To increase employee productivity

• To improve customer service

• To reduce operational costs

• To help managers make fact‐based decisions

Answer explanation

Refer chapter 1 slide 2

Setting prices for consumer is example in which application?

• Pricing

• Merchandising

• Location

• Staffing

Answer explanation

Refer chapter 1 slide 3

Determining the best sourcing is example in which application?

• Health care

• Customer segmentation

• Supply Chain Design

• Location

Answer explanation

Refer chapter 1 slide 4

Which of the following is NOT the benefit of analytics?

• Faster decisions

• Reduced costs

• Insufficient skills

• Better productivity

Answer explanation

Refer chapter 1 slide 5

Which of the following falls under analytic foundations?

• Data mining

• Visualization

• Risk analysis

• Statistics

Answer explanation

Refer Chapter 1 slide 6

Which of the following falls under modern business analytic?

• Information Systems

• Decision Support Systems

• Business Intelligence

• Operations Research

Answer explanation

Refer Chapter 1 slide 7

In business analytics, the spreadsheet is used for

• data manipulation

• report generation

• copy & paste information

• visual aid

Answer explanation

Refer Chapter 1 slide 9

The use of data to understand business performance and make decisions is described as

• Descriptive analytics

• Predictive analytics

• Prescriptive analytics

• Objective analytics

Answer explanation

Refer Chapter 1 slide 11

Identifying the best alternatives to minimize or maximize some objective is described as

• Descriptive analytics

• Predictive analytics

• Prescriptive analytics

• Objective analytics

Answer explanation

Refer Chapter 1 slide 11

The term _____ is also known as processed data

• Data

• Information

• Formula

• Process

Answer explanation

Refer Chapter 1 slide 13