Which of the following best describes the term business analytics? The tools and technique used to analyze and understand business data.
Which of the following best defines business analytics?
Business Analytics is the process by which businesses use statistical methods and technologies for analyzing historical data in order to gain new insight and improve strategic decision-making.
Which of the following is the best description of business intelligence?
Business intelligence (BI) is a term used by hardware and software vendors and information technology consultants to describe the infrastructure for warehousing, integrating, reporting, and analyzing data that comes from the business environment, including big data.
Which of the following statements best describes Business Performance Management BPM?
Which of the following statements best describes business performance management (BPM)? Business performance management attempts to systematically translate a firm’s strategies into operational targets. Which stage of the decision-making processes consists of choosing among solution alternatives?
What is business analytics in simple words?
Specifically, business analytics refers to: Taking in and processing historical business data. Analyzing that data to identify trends, patterns, and root causes. Making data-driven business decisions based on those insights.
What is business analytics quizlet?
Business Analytics. – the practice and art of bringing quantitative data to bear on decision making. Business Intelligence. – Data visualization and reporting for understanding “what happened and what is happening.”
Which best describes the purpose of business analytics?
Which best describes the purpose of business analytics? Business analytics is used to process and analyze data and information to support a story or narrative of a company’s business.
What is business intelligence and analytics?
Analytics and business intelligence (ABI) is an umbrella term that includes the applications, infrastructure and tools, and best practices that enable access to and analysis of information to improve and optimize decisions and performance.
What does the term business mean?
The term business refers to an organization or enterprising entity engaged in commercial, industrial, or professional activities. Businesses can be for-profit entities or they can be non-profit organizations that operate to fulfill a charitable mission or further a social cause.
Which of the following describes how the Simon framework of decision making works?
Which of the following describes how the Simon framework of decision-making works in high-velocity decision environments? All four steps are performed by humans with the support of high-speed, high-volume DSS and ESS. Only the initial step is performed by the software; the final three steps are handled by humans.
Which of the following best describes a genetic algorithm?
Which of the following best describes a genetic algorithm? A genetic algorithm is a problem-solving method that promotes the evolution of solutions to specified problems using the model of living organisms adapting to their environment.
When there is no well understood or agreed on procedure?
1) Unstructured decisions are novel and nonroutine, and there is no well-understood or agreed-on procedure for making them.
Which of the following best describes group decision making?
Which of the following best describes group decision making? A group of individuals each do individual research on a problem and submit their ideas to a committee for consideration. A group of individuals are selected to tackle a problem together in order to achieve a solution.
Which of the following best describes the Balanced Scorecard method?
Which of the following best describes the balanced scorecard method? The balanced scorecard method refers to a framework for operationalizing a firm’s strategic plan by focusing on measurable financial, business process, customer, and learning and growth outcomes of firm performance.
What does MIS typically produce?
MIS typically produce fixed, regularly scheduled reports based on data extracted and summarized from the firm’s underlying transaction processing systems. DSS primarily address structured problems.