Deck 5: Business Analytics

Question 1

The ratio between organizational inputs and outputs is an indication of the organization's productivity.

Answer 1

True

Question 2

Business intelligence is a limited category of applications used for storing and accessing data.

Answer 2

False

Question 3

Modern information systems support all three managerial roles.

Answer 3

True

Question 4

Structured decisions address routine, repetitive problems for which standard solutions exist.

Question 5

Goal-seeking analysis attempts to find the value of the inputs necessary to achieve a desired level of output.

Question 6

In the choice phase of the decision-making process, managers construct a model that simplifies the problem.

Question 7

Unstructured decisions require a combination of standard solution procedures and individual judgment.

Question 8

Targeted marketing is a good example of the discovery of previously unknown or hidden patterns.

Question 9

Digital dashboards provide support primarily to analytical, quantitative types of decisions.

Question 10

The use of BI is limited to large corporations.

Question 11

The BI target "Development of infrastructure to support enterprise-wide BI" is closely aligned with corporate performance management.

Question 12

Management control is the acquisition and efficient use of resources in accomplishing organizational tasks.

Question 13

Decision-support systems support only lower- and middle-level managers.

Question 14

KPI stands for key process information.

Question 15

In the implementation phase of the decision-making process, managers set criteria for the evaluation of alternative potential solutions.

Question 16

Human intuition often plays a role in making unstructured decisions.

Question 17

The number of alternatives to be considered in decisions today is increasing.

Question 18

A manager's primary function is strategic planning.

Question 19

A digital dashboard is very user friendly, supported by graphics, provides exception reporting and drill down, and provides information related to critical success factors.

Question 20

Corporate performance management (CPM)is involved with monitoring and managing an organization's performance according to its budget.

Question 21

The rise of social media has decreased interest in sentiment analysis.

Question 22

________ decisions are more common at lower organizational levels.

A)Structured
B)Unstructured
C)Undocumented
D)Semi-structured
E)Procedural

Question 23

Which of the following is not a characteristic of a structured decision?

A)It is routine.
B)It is repetitive.
C)Human intuition is not involved.
D)The first three phases of the decision-making process need not occur in any particular sequence
E)Standard solutionsexist.

Question 24

In the _____ phase of the decision-making process, managers examine a situation and identify and define the problem.

A)implementation
B)choice
C)design
D)intelligence
E)consideration

Question 25

Which of the following is not a decisional role of managers?

A)spokesperson
B)resource allocator
C)entrepreneur
D)negotiator

Question 26

Which of the following is not an informational role of a manager?

A)spokesperson
B)analyzer
C)disseminator
D)liaison

Question 27

In the _____ phase of the decision-making process, managers test potential solutions "on paper."

A)implementation
B)choice
C)design
D)intelligence
E)consideration

Question 28

Decisions today are becoming _____ complex, due to _____ uncertainty in the decision environment.

A)less, decreased
B)more, decreased
C)less, increased
D)more, increased
E)neither more nor less, decreased

Question 29

Which of the following is not a basic role of managers?

A)interpersonal
B)processor
C)informational
D)decisional

Question 30

Which of the following is not an interpersonal role of a manager?

A)figurehead
B)monitor
C)leader
D)liaison

Question 31

In the _____ phase of the decision-making process, managers construct a model that simplifies the problem.

A)implementation
B)choice
C)design
D)intelligence
E)consideration

Question 32

Which of the following is not a reason why managers need IT support?

A)The number of alternatives is decreasing.
B)Decisions must typically be made under time pressure.
C)Decisions are becoming more complex.
D)There is a growing need to access remote information sources.
E)Decision makers are often based in different locations.

Question 33

Refer to the Opening Case - How Much Rent Can You Charge?: RentRange _____.

A)Analyzes apartment rental rates in major cities.
B)Provides rental data to apartment owners.
C)Provides analysis about purchasing low-cost single-family housing for later rental.
D)Determines renter rating for apartment owners.

Question 34

Success in the _____ phase of the decision-making process results in resolving the original problem, and failure leads to a return to previous phases.

A)implementation
B)choice
C)design
D)intelligence
E)consideration

Question 35

Being a figurehead and leader is part of the _____ managerial role.

A)interpersonal
B)processor
C)informational
D)decisional
E)confrontational

Question 36

Being an entrepreneur, disturbance handler, and negotiator is part of the _____ managerial role.

A)interpersonal
B)processor
C)informational
D)decisional
E)confrontational

Question 37

Rank-and-file employees tend to make more _________ decisions.

A)structured
B)unstructured
C)undocumented
D)semi-structured
E)procedural

Question 38

_____ is the process by which organizational goals are achieved through the use of organizational resources.

A)Organizational decision making
B)Operations
C)Organizational strategy
D)Organizational productivity
E)Management

Question 39

The type of decision that can be made by following a definite procedure is called a(n)______ decision.

A)structured
B)unstructured
C)undocumented
D)semistructured
E)procedural

Question 40

Sentiment analysis can provide marketing managers with near-real-time insight into what consumers are thinking, so they can adjust their strategies and offers while it is still possible to influence the outcomes.

Question 41

Which of the following is not a BI target that represents a level of change?

A)The development of one or a few related BI applications
B)Support for organizational transformation
C)The development of infrastructure to support enterprise-wide BI
D)All of the above represent a level of change.

Question 42

Which type of decision requires a combination of standard solution procedures and individual judgment?

A)structured
B)semistructured
C)unstructured
D)informational
E)wisdom

Question 43

A company's annual employee evaluation best fits which type of decision?

A)unstructured
B)structured
C)semi-structured
D)confrontational
E)wisdom

Question 44

Refer to IT's About Business 5.2 - Cardlytics Analyzes Customer Buying Behaviors: which of the following statements about Cardlytics is not correct?

A)Tracks consumer buying behavior.
B)Uses spending data to learn about and categorize consumer types.
C)Pioneered data-driven advertising called merchant-funded rewards.
D)All of the choices are correct.

Question 45

Searching for valuable business information in a database, data warehouse, or data mart is referred to as _____.

A)structured queries
B)database queries
C)data mining
D)query by example
E)expert system queries

Question 46

A large foreign automobile manufacturer is considering where to build a new manufacturing plant in the United States. They are making which type of decision?

A)structured
B)semi-structured
C)unstructured
D)informational
E)wisdom

Question 47

Elena is trying to decide whether she should expand her ice cream shop to a bigger space. She decides to be very methodical about it and follow the phases of the decision-making process she learned in college. Which of the following statements is true?

A)During the intelligence phrase, Elena will build a model using assumptions about the business.
B)During the design phrase, Elena will define the opportunity.
C)During the choice phase, Elena will lay out her options.
D)During the implementation phase, Elena will implement two of her solutions.
E)Elena will use test data to validate her model.

Question 48

A company wants to use data from past promotional mailings to identify people who would likely respond favorably to future mailings. This company would most likely use ____________.

A)Structured Query Language
B)multidimensional data analysis
C)neural networks
D)expert systems
E)data mining

Question 49

_____ provides users with a view of what is happening, whereas _____ addresses why it is happening.

A)Multidimensional data analysis, Structured Query Language
B)Data mining, multidimensional data analysis
C)Data mining, expert system
D)Multidimensional data analysis, neural networks
E)Multidimensional data analysis, data mining

Question 50

Amanda is working for the CEO of a small company. He is trying to make a strategic decision about a new product. He has asked Amanda to build a model the represents and simplifies the problem. Amanda's boss is in the ______________ phase of the decision-making process

A)implementation
B)choice.
C)design
D)intelligence
E)consideration

Question 51

Computer support is least for which of the following problems?

A)semistructured and strategic planning
B)unstructured and strategic planning
C)semistructured and management control
D)unstructured and operational control
E)structured and strategic planning

Question 52

Computer support is greatest for which of the following problems?

A)semistructured and strategic planning
B)unstructured and operational control
C)structured and operational control
D)semistructured and management control
E)structured and management control

Question 53

Elena is trying to decide whether she should expand her ice cream shop to a bigger space. She decides to be very methodical about it and follow the phases of the decision-making process she learned in college. She has developed a few alternatives. Elena is in the ______________ phase of the decision-making process

A)implementation
B)choice.
C)design
D)intelligence
E)consideration

Question 54

Credit card companies would most likely use which of the following to check for fraudulent credit card use?

A)Data mining
B)Expert systems
C)Neural networks
D)Multidimensional data analysis
E)Structured query language

Question 55

_____ is the acquisition and efficient use of resources in accomplishing organizational goals.

A)Operational control
B)Management control
C)Strategic planning
D)Expertise
E)Wisdom

Question 56

_____ is the efficient and effective execution of specific tasks.

A)Operational control
B)Management control
C)Strategic planning
D)Expertise
E)Wisdom

Question 57

Refer to IT's About Business 5.1 - Predicting Airplane Arrivals More Accurately: The purpose of the first Flight Quest contest was to_______.

A)make it easier for pilots to submit their flight plans.
B)develop an algorithm that could help airlines better predict flight arrival times and reduce delays.
C)determine the best flight path for individual flights.
D)get baggage off planes faster.

Question 58

Calculating gross pay for hourly workers is an example of ________ decision making.

A)structured
B)unstructured
C)undocumented
D)semi-structured
E)procedural

Question 59

Which of the following is not a characteristic of unstructured decisions?

A)They are complex.
B)They typically are fuzzy and unclear.
C)Standard solutions exist.
D)Human intuition is involved.
E)The first three phases of the decision-making process occur in no particular sequence.

Question 60

When there is no well-understood or agreed-on procedure for making a decision, the decision is said to be ____________.

A)undocumented
B)structured
C)unstructured
D)semistructured
E)documented

Question 61

A(n)_____ provides rapid access to timely information and direct access to management reports.

A)decision support system
B)expert system
C)neural network
D)digital dashboard
E)data warehouse

Question 62

Amanda is working for the CEO of a small company. He asks her to develop a dashboard. Amanda starts thinking about the questions she needs to ask. Which of the following questions would not on Amanda's list?

A)How many levels do you wish to drill down?
B)What are your key performance indicators?
C)Do you need real-time data?
D)Do you want graphs and charts or text?
E)Should it run on your iPhone?

Question 63

Which of the following is not a characteristic of decision support systems?

A)They support only lower- and middle-level managers.
B)They are easy to use and construct.
C)They can adapt to changing conditions.
D)They usually utilize quantitative models.
E)They support all phases of the decision-making process.

Question 64

_____ attempts to find the value of the inputs necessary to achieve a desired level of output.

A)What-if analysis
B)Qualitative analysis
C)Sensitivity analysis
D)Goal-seeking analysis
E)Simulation

Question 65

Which capability of digital dashboards enables users to obtain the latest data available on key performance indicators or some other metric, ideally in real time?

A)Drill-down
B)Key performance indicators
C)Status access
D)Trend analysis
E)Exception reporting

Question 66

The Management Cockpit best exemplifies which type of system?

A)decision support system
B)expert system
C)digital dashboard
D)functional area information system
E)group decision support system

Question 67

The primary distinguishing characteristic of geographical information systems is ______________.

A)every record or digital object has a unique identifier
B)every record or digital object is visible to the user
C)every record or digital object must be accessed by programmers
D)every record or digital object has an identified geographical location
E)every record or digital object is encrypted

Question 68

Shawn is doing some budgeting for his new start-up business. He has developed a budget in Excel using formulas, as he was taught to do in college. Which of the following statements is true?

A)If Shawn changes one of his assumptions, Excel will automatically recalculate the budget numbers.
B)Shawn would use sensitivity analysis to check the impact of changing his price.
C)Shawn would use roll-up to review his summary numbers.
D)Shawn would use what-if analysis to check the impact of changing his price and the commission he pays his sales people.
E)Shawn would use goal-seeking analysis to examine the impact of changing his forecast of units sold.

Question 69

Shawn is doing some budgeting for his new start-up business. He has developed a budget in Excel using formulas, as he was taught to do in college. He is fairly confident about his estimated expenses. He is also sure that his current price is the best price he can get for his product. He would like to know how many units he needs to sell at that price (and his cost per product from his supplier)to cover his expenses. Shawn will be doing:

A)What-if analysis
B)Qualitative analysis
C)Sensitivity analysis
D)Goal-seeking analysis
E)A simulation.

Question 70

Shawn is doing some budgeting for his new start-up business. He has developed a budget in Excel using formulas, as he was taught to do in college. He would like to check the impact of changing his price and the commission he pays his sales people. Shawn will be doing:

A)What-if analysis
B)Qualitative analysis
C)Sensitivity analysis
D)Goal-seeking analysis
E)A simulation.

Question 71

You've started an internship at the major hospital in your city. Your boss gave you ten minutes of training on the data warehouse that you have access to. The last thing she told you was to do some analysis on the Visit cube. Which of the following statements is false?

A)One dimension of the cube is (probably)day.
B)One dimension of the cube is (probably)treatment.
C)One dimension of the cube is (probably)doctor.
D)One dimension of the cube is (probably)month.
E)One dimension of the cube is (probably)patient.

Question 72

You've started an internship at the major hospital in your city. Your boss gave you ten minutes of training on the data warehouse that you have access to. She then asked you to see if there is any correlation between treatments and day of the week. To do this, you will be doing:

A)Transaction processing.
B)Data mining
C)What-if analysis.
D)Goal-seeking
E)Exception reporting

Question 73

At the end of a semester, a student knows that she must achieve a grade of 81 or higher on her final exam to get an A in the course. She has just performed what kind of analysis?

A)What-if
B)Qualitative
C)Sensitivity
D)Goal-seeking
E)Simulation

Question 74

Sally is working for her uncle for the summer in the marketing department of Proctor & Gamble. One of her recent projects was to use the insights from the data mining to determine the sales level that will cover expected expenses for the upcoming year for one product line. Sally will be doing:

A)What-if analysis
B)Qualitative analysis
C)Sensitivity analysis
D)Goal-seeking analysis
E)A simulation.

Question 75

Sally is working for her uncle for the summer in the marketing department of Proctor & Gamble. She tells you she does data mining all day long. Which of the following statements is false?

A)Data mining can be used to prove assumptions.
B)Data mining is used to identify unknown patterns.
C)Data mining can explain why things happened.
D)Data mining can predict what will happen.
E)Data mining can be used to identify customers.

Question 76

Sally is working for her uncle for the summer in the marketing department of Proctor & Gamble. One of her recent projects was to build a model of revenue that would allow her boss to test a variety of price points against forecasts of units sold for each product in a product line. Sally will be doing:

A)What-if analysis
B)Qualitative analysis
C)Sensitivity analysis
D)Goal-seeking analysis
E)A simulation.

Question 77

Amanda is working for the CEO of a small company. He asks her to develop a dashboard. Amanda starts thinking about the questions she needs to ask. She asks her boss for his critical success factors and how he will measure them. The measures of CSF's are called _____________.

A)clustering
B)classification.
C)real-time data
D)key performance indicators
E)status access

Question 78

Which of the following information systems are very user friendly, supported by graphics, and provide exception reporting and drill down?

A)decision support systems
B)digital dashboards
C)functional area information systems
D)group decision support systems
E)expert systems

Question 79

Geocoding involves ___________.

A)integrating maps with spatially oriented databases and other databases
B)encrypting spatial information
C)accessing geographical information
D)integrating organizational transactions with spatially oriented databases
E)programming spatially oriented databases

Question 80

Digital dashboards provide all of the following capabilities except:

A)drill-down
B)transaction processing
C)status access
D)key performance indicators
E)exception reporting