Question 1

By using various analysis, such as data mining and predictive modeling, data can be transformed into business intelligence.

Accepted Answer

Data mining and predictive modeling are techniques used to extract meaningful insights from data and make informed business decisions. These techniques are part of the broader field of business intelligence, which involves gathering, analyzing, and presenting data to support strategic decision-making. Therefore, the statement is true.

Question 2

Uninformed consumers drive enterprises to use their information assets in more intelligent ways.

Accepted Answer

Uninformed consumers are less likely to influence enterprises to use their information assets in more intelligent ways. It is informed consumers who understand the value of data and can push for better use and management of information assets.

Question 3

Executive information systems provide information for tactical, semi-structured decisions.

Accepted Answer

Executive Information Systems (EIS) are designed to provide top executives with easy access to internal and external information relevant to their strategic decisions, rather than for tactical, semi-structured decisions.

Question 4

Intelligence involves the ability to see meaningful interrelationships and glean insights.

Accepted Answer

Intelligence involves not just knowledge and information, but also the ability to analyze and synthesize information to uncover meaningful connections and insights.

Question 5

Business intelligence cannot be used to improve decision making and business performance.

Accepted Answer

Business intelligence involves collecting and analyzing data to provide insights and support decision making. It can help organizations identify patterns, trends, and areas for improvement, ultimately leading to better business performance. Therefore, it can be used to improve decision making and business performance.

Question 6

________ provide information for tactical, semi-structured decisions and was a predecessor of today's intelligence tools.

Accepted Answer

The answer of ________ provide information for tactical, semi-structured decisions...

Question 7

The purpose of integrating quantitative and qualitative factors in the decision making process is to

Accepted Answer

Integrating both quantitative and qualitative factors helps to improve the quality of the decision by providing a more holistic view of the situation, taking into account both objective data and subjective insights. While organizing the decision making process and bringing order to the environment may be benefits of this integration, the primary purpose is to enhance the quality of the decision. Analyzing why customers buy a certain product or service may be one factor in the decision making process, but it is not the overall purpose of integrating quantitative and qualitative factors.

Question 8

Which of the following is an example of a routine business decision?

Accepted Answer

Using the most cost effective shipping procedure is a routine business decision as it involves regular operations and cost management. A, C, and D are strategic business decisions as they involve major changes to the business model or significant investments.

Question 9

Decision support systems provided support for strategic decisions.

Accepted Answer

Decision support systems are designed to support semi-structured and unstructured decisions, which are typically tactical or operational in nature, not strategic.

Question 10

What are the three main functions of an accounting system?

Accepted Answer

The answer of What are the three main functions of...

Question 11

Which one of the following is NOT a predecessor of today's tools used for data analysis?

Accepted Answer

The answer of Which one of the following is NOT...

Question 12

Business intelligence answers questions such as

Accepted Answer

The answer of Business intelligence answers questions such as
...

Question 13

Tactical decisions are

Accepted Answer

Tactical decisions are typically short term in nature and impact one year or less. Recurring decisions relate to ongoing business operations, while long term decisions are strategic in nature and involve planning for the future. Tactical decisions can be structured or unstructured depending on the situation, but they are typically made in response to immediate needs or challenges.

Question 14

________ uses mathematical algorithms to find patterns, trends, and relationships among data, such as customer purchasing patterns.

Accepted Answer

The answer of ________ uses mathematical algorithms to find patterns,...

Question 15

Which business intelligence tool is more likely to identify a credit card transaction from a stolen credit and not from the cardholder?

Accepted Answer

Data mining is a business intelligence tool that can be used to identify patterns and trends in data. This can be useful for identifying fraudulent transactions, as it can help to identify transactions that are unusual or that do not fit the normal pattern of spending for a particular cardholder.

Question 16

________ systems provided information for routine, operational decisions.

Accepted Answer

The answer of ________ systems provided information for routine, operational...

Question 17

Which business intelligence tool is more likely to identify the next "must have" children's toy?

Accepted Answer

Predictive modeling uses historical data to make predictions about the future. In the case of identifying the next "must have" children's toy, predictive modeling can analyze past trends in toy popularity, consumer behavior, and market demand to make a prediction about what toy will be the most popular in the future. This is more likely to be effective than other business intelligence tools such as shadow data or interactive decision models, which may not be as focused on predicting future trends. Data mining can also be useful in identifying patterns and trends, but it may not necessarily lead to a prediction about the future like predictive modeling can.

Question 18

________ uses mathematical algorithms to predict future trends, such as future customer purchases.

Accepted Answer

The answer of ________ uses mathematical algorithms to predict future...

Question 19

________ are IT tools suited for storing data, but have limitations for analyzing data.

Accepted Answer

The answer of ________ are IT tools suited for storing...

Question 20

Which of the following is an example of a strategic decision?

Accepted Answer

The answer of Which of the following is an example...

Quiz 7: Accounting and Business Intelligence