Deck 18: Business Intelligence

Question 1

Which of the following is the result of BI that implies that the data have been documented as the certified or approved data for the enterprise?

A) Reliable
B) Consistent
C) Understandable
D) Easily manipulated

Answer 1

A

Question 2

Which of the following represents market basket analysis?

A) Analyzes website information
B) Analyzes checkout scanner information
C) Detects customers' buying behavior
D) All of the above

Answer 2

D

Question 3

What are forecasts?

A) Predictions made on the basis of time-series information
B) Time-stamped information collected at a particular frequency
C) Reveals the degree to which variables are related
D) All of the above

Answer 3

A

Question 4

What types of BI decisions include predicting machinery failures and finding key factors that control optimization of manufacturing capacity?

A) Retail and sales BI decisions
B) Banking BI decisions
C) Operations management BI decisions
D) Insurance BI decisions

Question 5

What do organizations using BI ask to find the root causes to problems and provide solutions?

A) What
B) When
C) Where
D) Why

Question 6

Which company uses statistical analysis to automatically detect potential issues, provide quick and easy access to reports, and perform multidimensional analysis on all warranty information?

A) Burlington Northern and Santa Fe Railroad
B) BostonCoach
C) Verizon Communications
D) Whirlpool

Question 7

Which of the following is the result of BI that the data have been defined in business terms and calculations and algorithms are easily accessed for comprehension?

A) Reliable
B) Consistent
C) Understandable
D) Easily manipulated

Question 8

Which of the following can use BI to make informed decisions?

A) Law enforcement industry
B) Airline industry
C) Broadcasting industry
D) All of the above

Question 9

Which of the following is a form of statistical analysis?

A) Forecasting
B) Market basket analysis
C) Cluster analysis
D) All of the above

Question 10

Which of the following is a result of implementing business intelligence systems and tools allowing business users to receive data for analysis?

A) Reliable
B) Understandable
C) Easily Manipulated
D) All of the above

Question 11

What types of BI decisions include predicting sales, determining correct inventory levels and distribution schedules among outlets, and loss prevention?

A) Retail and sales BI decisions
B) Banking BI decisions
C) Operations management BI decisions
D) Insurance BI decisions

Question 12

Which of the following is the result of BI that the processes that deliver the data to the business community are well documents and there are no surprises such as missing or inaccurate data?

A) Reliable
B) Consistent
C) Understandable
D) Easily manipulated

Question 13

What types of BI decisions include forecasting levels of bad loans and fraudulent credit card use, credit card spending by new customers, and which kinds of customers will best respond to new loan offers?

A) Retail and sales BI decisions
B) Banking BI decisions
C) Operations management BI decisions
D) Insurance BI decisions

Question 14

What is a technique used to divide an information set into mutually exclusive groups such that the members of each group are as close together as possible to one another and the different groups are as far apart as possible?

A) Association detection
B) Market basket analysis
C) Cluster analysis
D) Intelligent agent

Question 15

Which of the following is the result of BI that it is no longer required to have a PhD in statistics to get sophisticated analytics delivered to users' fingertips?

A) Reliable
B) Consistent
C) Understandable
D) Easily manipulated

Question 16

What reveals the degree to which variables are related and the nature and frequency of these relationships in the information?

A) Association detection
B) Market basket analysis
C) Cluster analysis
D) Intelligent agent

Question 17

Which of the following is not one of the parallels between challenges in business and those of war?

A) Collecting information
B) Using tactical business intelligence
C) Discerning patterns and meaning in the information
D) Responding to the resultant information

Question 18

What is the primary problem most organizations face today concerning information?

A) Business intelligence rich, information rich
B) Data poor, information rich
C) Business intelligence poor, information rich
D) Data rich, information poor

Question 19

What types of BI decisions include forecasting claim amounts and medical coverage costs, classifying the most important elements that affect medical coverage; predicting which customers will buy new insurance policies?

A) Retail and sales BI decisions
B) Banking BI decisions
C) Operations management BI decisions
D) Insurance BI decisions

Question 20

What is time-series information?

A) Analyzes checkout scanner information
B) Time-stamped information collected at a particular frequency
C) Reveals the degree to which variables are related
D) All of the above

Question 21

Which type of BI benefits includes working time saved in producing reports and selling information to suppliers?

A) Quantifiable benefits
B) Indirectly quantifiable benefits
C) Unpredictable benefits
D) Intangible benefits

Question 22

Quantifiable benefits, indirectly quantifiable benefits, unpredictable benefits, and intangible benefits are the four primary categories of BI benefits.

Question 23

Which type of BI benefits includes improved communication throughout the enterprise, improved job satisfaction of empowered users, and improved knowledge sharing?

A) Quantifiable benefits
B) Indirectly quantifiable benefits
C) Unpredictable benefits
D) Intangible benefits

Question 24

Which form of BI uses the time frame of days to weeks to months?

A) Operational BI
B) Tactical BI
C) Strategic BI
D) All of the above

Question 25

What is analysis latency?

A) The time duration to make data ready for analysis and loading the data into the database
B) The time from which data are made available to the time when analysis is complete
C) The time it takes a human to comprehend the analytic results and determine an appropriate action
D) None of the above

Question 26

What is data latency?

A) The time duration to make data ready for analysis and loading the data into the database
B) The time from which data are made available to the time when analysis is complete
C) The time it takes a human to comprehend the analytic results and determine an appropriate action
D) None of the above

Question 27

What is decision latency?

A) The time duration to make data ready for analysis and loading the data into the database
B) The time from which data are made available to the time when analysis is complete
C) The time it takes a human to comprehend the analytic results and determine an appropriate action
D) None of the above

Question 28

Which of the following is one of the four main categories of BI benefits?

A) Quantifiable benefits
B) Predictable benefits
C) Tangible benefits
D) All of the above

Question 29

Which type of BI manages daily operations and integrates BI with operational systems?

A) Operational BI
B) Tactical BI
C) Strategic BI
D) All of the above

Question 30

Which type of BI benefits are the results of discoveries made by creative users?

A) Quantifiable benefits
B) Indirectly quantifiable benefits
C) Unpredictable benefits
D) Intangible benefits

Question 31

Which form of BI has managers and analysts as its primary users?

A) Operational BI
B) Tactical BI
C) Strategic BI
D) All of the above

Question 32

The three forms of BI include operational, tactical, and value-added.

Question 33

Which of the following is a business benefit of BI?

A) Single point of access to information for managers only
B) BI available to financial organizational departments only
C) Up-to-the minute information for everyone
D) All of the above

Question 34

Improving the quality of business decisions has a direct impact on costs and revenue.

Question 35

Data latency is the time from which data are made available to the time when analysis is complete.

Question 36

Which type of BI conducts short-term analysis to achieve strategic goals?

A) Operational BI
B) Tactical BI
C) Strategic BI
D) All of the above

Question 37

Which form of BI uses months to years as its time frame?

A) Operational BI
B) Tactical BI
C) Strategic BI
D) All of the above

Question 38

Data is a strategic asset for a business and if the asset is not used the business is wasting resources.

Question 39

Which form of BI uses real-time metrics for its data?

A) Operational BI
B) Tactical BI
C) Strategic BI
D) All of the above

Question 40

Which type of BI achieves long-term organizational goals?

A) Operational BI
B) Tactical BI
C) Strategic BI
D) All of the above

Question 41

Explain the organization-wide benefits of BI.

Question 42

__________ analysis performs such functions as information correlations, distributions, calculations, and variance analysis.

Question 43

Market __________ analysis analyzes such items as websites and checkout scanner information to detect customers' buying behavior and predicts future behavior by identifying affinities among customers' choices of products and services.

Question 44

Describe the four categories of BI business benefits.

Question 45

___________ are predictions made on the basis of time-series information.

Question 46

Describe three types of data-mining analysis capabilities.

Question 47

Explain the problem associated with business intelligence. Describe the solution to this business problem.

Question 48

Describe the three common forms of data-mining analysis?