PART 1

Question 1

Can be defined as the broad use of data and quantitative analysis to help managers gain improved insights about their business operations and make better, fact-based decisions.

Answer 1

Business Analytics

Question 2

Uses various TOOLS in order to analyze and transform data into useful information

Question 3

When was the introduction of Business Analytics

Answer 3

1940

Question 4

identify and anticipate TRENDS and OUTCOMES

Answer 4

Business Analytics

Question 5

communicate results to organizational decision-makers through DATA VISUALIZATION

Answer 5

Business Analytics

Question 6

Business Intelligence software by Hans Peter Luhn, IBM researcher. What date?

Answer 6

1958

Question 7

Give at least 3

Impacts of applying Business Analytics

Answer 7

 Companies’ report reduced cost
 Better risk management
 Faster decisions
 Better productivity
 Enhanced bottom-line performance such as profitability and customer satisfaction.

Question 8

Give at least 3

Challenges of applying Business Analytics

Answer 8

 Lack of understanding on how to use analytics
 Competing business priorities
 Insufficient analytical skills
 Difficulty in getting a good data and sharing information
 Not understanding the benefits

Question 9

Scope of Business Analytics

Answer 9

 Descriptive
 Diagnostic
 Predictive
 Prescriptive

Question 10

make smarter, data-driven business decisions

Answer 10

Business Analytics