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

Accepted Answer

Reliable data is a result of Business Intelligence (BI) that implies the data have been documented as the certified or approved data for the enterprise, ensuring that the information is accurate and can be trusted for decision-making.

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

Accepted Answer

Market basket analysis involves analyzing checkout scanner information to detect customers' buying behavior.

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

Accepted Answer

Forecasts are predictions made on the basis of time-series information. Option B is referring to time-stamped data, and option C is referring to correlation analysis. Although all of the options are related to data analysis, A is the best choice that specifically defines a forecast.

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

Accepted Answer

Predicting machinery failures and finding key factors that control optimization of manufacturing capacity are examples of operations management BI decisions. These types of decisions are related to optimizing processes and maximizing efficiency in manufacturing operations. Retail and sales BI decisions would typically involve analyzing sales data, customer behavior, and market trends to make decisions related to sales and marketing strategies. Banking BI decisions would involve analyzing financial data and customer behavior to make decisions related to risk management, lending, and investment strategies. Insurance BI decisions would involve analyzing data related to claims, policyholders, and risk factors to make decisions related to pricing, underwriting, and risk management strategies.

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

Accepted Answer

Organizations using BI ask "why" to find the root causes of problems and provide solutions. Asking "why" helps to identify the underlying issues that need to be addressed, rather than just treating the symptoms of a problem.

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

Accepted Answer

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

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

Accepted Answer

When data is defined in business terms and the calculations and algorithms are easily accessible, it becomes understandable for users. This means that users can easily comprehend and make use of the data for decision making.

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

Accepted Answer

All of the given industries can use Business Intelligence (BI) to make informed decisions. In the law enforcement industry, BI can help analyze crime patterns and predict future crime hotspots. In the airline industry, BI can be used to analyze passenger behavior and optimize routes. In the broadcasting industry, BI can be used to track audience metrics and optimize programming decisions. Ultimately, any industry that deals with data can benefit from using BI to make informed decisions.

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

Accepted Answer

The answer of Which of the following is a form...

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

Accepted Answer

Implementing business intelligence systems and tools allows business users to receive reliable and understandable data for analysis, which can also be easily manipulated to provide insights and make informed decisions. Therefore, all options (A,B,C) are correct.

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

Accepted Answer

Predicting sales, determining correct inventory levels and distribution schedules, and loss prevention are all related to retail and sales, which makes choice A the most appropriate answer. Banking BI decisions would focus on areas such as credit risk analysis and fraud detection. Operations management BI decisions would relate more to areas such as supply chain management and production planning. Insurance BI decisions would center on risk assessment and claims analysis.

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

Accepted Answer

The answer of Which of the following is the result...

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

Accepted Answer

These decisions all pertain to banking operations, specifically risk management and customer targeting.

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

Accepted Answer

Cluster analysis is a technique used in data mining to identify and group together similar objects or data points in order to create clusters. The goal of this technique is to minimize the differences between the objects within each cluster and maximize the differences between the clusters. This is achieved by calculating the distance between each object and grouping those that are closest together into a cluster. Cluster analysis can be used in a wide range of applications, including customer segmentation, image segmentation, and anomaly detection.

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

Accepted Answer

The answer of Which of the following is the result...

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

Accepted Answer

Association detection, also known as correlation analysis, measures the degree to which variables are related and the nature and frequency of these relationships in the information. Market basket analysis analyzes the purchase behavior of customers, cluster analysis groups similar items or individuals together and intelligent agent is a software program designed to carry out specific tasks.

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

Accepted Answer

Tactical business intelligence is not a parallel between challenges in business and those of war. The other options listed (collecting information, discerning patterns and meaning, and responding to information) are all parallels between the two contexts.

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

Accepted Answer

The primary problem most organizations face today concerning information is that they are data rich but information poor. With the explosion of digital technology, organizations have access to more data than ever before, but they lack the ability to turn that data into meaningful information that can drive business decisions. This has led to the need for better data analysis tools and techniques, as well as for more skilled data analysts who can interpret and communicate the insights contained within the data.

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

Accepted Answer

These decisions are specific to the insurance industry and are related to predicting future claim amounts and customer behavior.

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

Accepted Answer

Time-series information is defined as time-stamped data that is collected at a particular frequency. While checkout scanner information can be a source of such data, it is not explicitly the definition of time-series information. Likewise, while time-series data analysis can reveal relationships between variables, this is not the definition of time-series information.

Quiz 18: Business Intelligence

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?

Which of the following represents market basket analysis?

What are forecasts?

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

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

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?

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?

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

Which of the following is a form of statistical analysis?

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

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

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?

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?

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?

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?

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

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

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

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?

What is time-series information?