Digital Business and Innovation Quiz3

What is the main focus of Business Intelligence (BI) compared to Business Analytics (BA)?

• Descriptive analytics

• Predictive analytics

• Statistically derived insights

• Historical and present data analysis

What is the purpose of the Innovation Funnel in organizations?

• To create business value

• To optimize production lines

• To reduce costs

• To increase employee satisfaction

Which type of analytics uses present and past data to determine future outcomes?

• Prescriptive Analytics

• Predictive Analytics

• Business Intelligence

• Descriptive Analytics

What is the term used to describe a firm's ability to recognize the value of new external information and apply it to commercial ends?

• Absorptive capacity

• Market orientation

• Innovation mindset

• Strategic thinking

Which stage of the Innovation Funnel involves transforming ideas into finished products?

• Ideation

• Research

• Innovation development

• Insight

What is the main benefit of Business Analytics for managers?

• Transforming data into decisions

• Reducing customer churn

• Optimizing supply chain management

• Increasing employee satisfaction

What is the primary focus of Business Analytics (BA) compared to Business Intelligence (BI)?

• Historical data analysis

• Predictive models

• Performance reporting

• Statistical insights

Which metric is used to measure the success of a portfolio or the prioritization of projects?

• Annual R&D budget as a percentage of sales

• Number of patents filed

• Total R&D headcount

• Number of active projects

What is the purpose of the Business Analytics Success Model (BASM)?

• To implement new technologies

• To reduce operational inefficiencies

• To increase employee engagement

• To generate insights from data

Which type of analytics uses data to prescribe actions that increase chances of obtaining the best results?

• Descriptive Analytics

• Predictive Analytics

• Prescriptive Analytics

• Business Intelligence