Business Analytics

What is the main goal of Business Analytics (BA)?

• Create attractive visual dashboards

• Drive evidence-based decisions using data analysis

• Replace all human decisions with automation

• Collect as much data as possible

Which of the following are considered types of analytics?

• Descriptive

• Predictive

• Diagnostic

• Narrative

What is the purpose of Prescriptive Analytics?

• Provide dashboards to view historical data

• Predict future outcomes

• Recommend optimal actions under given conditions

• Display real-time sensor data

Which are common techniques used in Diagnostic Analytics?

• Time-series forecasting

• Drill-downs and slice-&-dice

• Pareto charts

• 5 Why's

Which of the following are limitations of Predictive Analytics?

• Overfitting

• Concept drift

• Descriptive limitations

• Black-box bias

Which of these best describes Business Intelligence

• Focused on forecasting and optimization

• Focused on describing past and current data

• Provides reinforcement learning models

• Predicts customer churn

What is a benefit of Multi-Criteria Decision Making (MCDM)

• Simplifies decisions by ignoring trade-offs

• Provides balanced, explainable choices

• Removes the need for business objectives

• Guarantees perfect solutions every time

Which practices support responsible AI usage?

• Transparency

• Fairness

• Maximizing data extraction without consent

• Privacy protection

Which of the following are highlighted as current challenges in Business Analytics?

• Privacy compliance increasing operational costs

• Fully automated decision-making replacing all human roles

• Ethics & Transparency

• Data cleaning still consuming significant analyst time

What is the primary purpose of a Semantic Layer in Business Analytics?

• Storing raw, unprocessed data

• Providing a shared vocabulary and reusable metrics

• Replacing all manual data modeling

• Enforcing strict data access restrictions only