POWERPOINTS

Question 1

WHAT IS: Business Analytics?

Answer 1

• The use of data, info tech, stat analysis, quantitative methods, and math to help managers gain insight about their business operations and help make better decisions

Question 2

What are 5 types of Analytics applications?

Answer 2

-pricing
-customer segmentation
-merchandising
-social media
-location

Question 3

what 5 things has evolved from business analytics?

Answer 3

-Business intelligenjce
- Info systems
- Stats
- operations research/management science
- decision support systems

Question 4

what are the BENEFITS to business analytics?

Answer 4

• reduced costs
• better risk management
• faster decisions
• better productivity
• enhanced performance (customer satisfaction)

Question 5

What are some CHALLENGES to business analytics?

Answer 5

• lack of understanding
• competing business priorities
• insufficient analytical skills
  -difficuloty in geting data
• not understanding

Question 6

what is DESCRIPTIVE ANALYTICS?

Answer 6

the use of data to understand past and current business performance and make informed decisions

Question 7

what is PREDICTIVE ANALYTICS

Answer 7

predict the future by examining historical data, detecting patterns or relationships in these data, and then extrapolating these relationships forward in time.

Question 8

what is PRESCRIPTIVE ANALYTICS?

Answer 8

identify the best alternatives to minimize or maximize some objective

Question 9

in forecasting vs analysis, what comes first? and what do you do?

Answer 9

ANALYSIS:
-Identifies the trends
-Graph your data… what do you see?
-Group your data… are there any noticeable trends?

Question 10

what do you do in forecasting?

Answer 10

Predicting the future usually by looking at the past

Question 11

for analysis, WHAT EXCEL TOOLS DO YOU USE?

Answer 11

Goal seek
Data tables
Pivot tables
Pivot charts
Data analysis tools

Question 12

for analysis, WHAT FINANCIAL TOOLS DO YOU USE?

Answer 12

-ratios
- Time Value of Money
- DCF models (discounted cash flow)

Question 13

What is an operating forecast?

Answer 13

A short-term (<1 year) forecast used for day-to-day planning.

Question 14

What is a strategic forecast?

Answer 14

A long-term (2–10 years) forecast used for big-picture planning.

Question 15

what is the Difference between operating and strategic forecasts?

Answer 15

Operating = short-term actions; Strategic = long-term goals.

Question 16

What are pro-forma statements?

Answer 16

Forecasted financial statements predicting future performance.

Question 17

What are the 3 main pro-forma statements?

Answer 17

Income statement, balance sheet, cash flow statement.

Question 18

Types of budgets?

Answer 18

Cash, capital, and operating budgets.

Question 19

What is the percent of sales method?

Answer 19

Forecasting by assuming items change as a % of sales.

Question 20

what are the 3 Forecasting methods?

Answer 20

Percent of sales, trends, regression

Question 21

What is regression?

Answer 21

A statistical method to predict relationships between variables.

Question 22

What does regression help you do?

Answer 22

Predict future values based on past data.

Question 23

What is a “best fit line”?

Answer 23

A line that minimizes prediction errors and represents the data trend.

Question 24

What does extrapolation mean?

Answer 24

Predicting values outside the data range.

Question 25

What is causal data?

Answer 25

Data where one variable affects another.

Question 26

Why is regression considered stable?

Answer 26

Because it uses mathematical models based on real data.

Question 27

What does regression minimize?

Answer 27

Forecast errors.

Question 28

what are the 5 characteristics of regression?

Answer 28

- Statistical techniques to predict the future - Are extremely stable - Give a long-term trend - Can be used to extrapolate or interpolate - Can be used with time-series or causal data

Question 29

What is primary data?

Answer 29

Data collected directly by the researcher.

Question 30

What is secondary data?

Answer 30

Data that already exists and is collected by others.

Question 31

What must be true about independent variables?

Answer 31

They must be known or controlled.

Question 32

What type of relationship should independent variables have with the dependent variable?

Answer 32

A causal relationship.

Question 33

How can categorical variables be used in regression?

Answer 33

By coding them as numbers (e.g., 0 and 1).

Question 34

What should be true about independent variables relative to each other?

Answer 34

They should be independent (not strongly related).

Question 35

what is the equation of a line:

Answer 35

Y= Bo + B1X

Question 36

in the SLOPE FORMULA, what is B1 called?

Answer 36

slope

Question 37

in the SLOPE FORMULA, what is B2 called?

Answer 37

intercept

Question 38

what is R^2?

Answer 38

SSR/ SST (sum of squares regression/sum squares total)

Question 39

What is Power BI?

Answer 39

A Microsoft data visualization tool used to create interactive dashboards and reports.

Question 40

What is the main purpose of Power BI?

Answer 40

To turn raw data into visual insights.

Question 41

What kind of outputs does Power BI create?

Answer 41

Charts, graphs, dashboards, and reports.

Question 42

What does “interactive” mean in Power BI?

Answer 42

Users can click, filter, and explore the data.

Question 43

Q: What is Power Query?

Answer 43

A data transformation and preparation tool.

Question 44

What is the main purpose of Power Query?

Answer 44

To clean and transform raw data.

Question 45

What kind of tasks does Power Query perform?

Answer 45

Filtering, cleaning, formatting, and combining data.

Question 46

Does Power Query require coding?

Answer 46

No, it uses a graphical interface.

Question 47

When do you use Power Query in the data process?

Answer 47

Before analysis and visualization.

Question 48

what are 4 things that are important when communicating?

Answer 48

Be simple Be clear Be concise Be “Blatantly Obvious”

Question 49

Before you present the data and analysis…

Answer 49

Make sure you understand the data, Make sure you use a suitable analysis, Match the analysis to the type of data you have

Question 50

when presenting a chart what SHOULD you show your audience?

Answer 50

- Show the results and insights of the analysis not the data - Clear labels - Show key numbers -Show trends

Question 51

when presenting a chart what SHOULDNT you show your audience?

Answer 51

- Crowded data - Filtered data without telling audience - Unsupported information - Make assumptions that you don’t state

Question 52

what are the THREE GUIDING PRESENTATION PRINCIPLES?

Answer 52

- Simplicity - Creativity - Energy

Question 53

when are: Stacked bar charts useful?

Answer 53

when the sum of all values is as important as the individual categories/groups.

Question 54

when using NPV...

Answer 54

Choose the project with the higher NPV at the chosen discount rate (usually the firm's cost of capital).

Question 55

when using IRR..

Answer 55

Choose the project with the higher IRR, as long as the IRR is above the required return (ex. above 8–10%).