Question 1

Darden Restaurants' Check-Level Analytics system __________ and ultimately _______.

Accepted Answer

Darden Restaurants' Check-Level Analytics system collects information about patrons from the time they arrive until they settle the bill, which has saved the company at least $20 million.

Question 2

___________ is used in the data management stage of the business analytics process to clean the data prior to entry in the data warehouse.

Accepted Answer

ETL (Extract, Transform, Load) is used in the data management stage to clean and transform the data before loading it into the data warehouse. This process involves extracting data from various data sources, transforming it into a consistent format, and loading it into a data warehouse or data lake. DLAP (Data Load Automation Platform) and DSS (Decision Support System) are not specifically used for data cleaning, and No SQL is a database technology that is not necessarily tied to the data management stage.

Question 3

You are looking to buy a new car, but you are on a tight budget. You assume you will get an interest rate of 4%. You would use the ____________ analysis to predict how much you can spend on a car if the interest rate is actually higher.

Accepted Answer

The answer of You are looking to buy a new...

Question 4

______________ analytics are the first step in data reduction.

Accepted Answer

Descriptive analytics involve organizing and summarizing data in order to gain a better understanding of what has happened in the past. This is typically the first step in the data analysis process and can help to identify patterns and trends that can inform future decision-making. Delineative analytics is not a commonly used term in data analytics, while predictive and prescriptive analytics involve making projections about future outcomes and identifying actions to take based on those projections, respectively.

Question 5

The Management Cockpit is a special kind of _________ for _______ managers.

Accepted Answer

The Management Cockpit is a special kind of dashboard designed for top-level managers. It provides a quick overview of the company's key performance indicators and allows for quick decision making based on real-time data. ERPs are enterprise resource planning systems which are larger and more complex systems used by mid-level managers for company-wide planning and control.

Question 6

____________ analytics are the second step in data reduction.

Accepted Answer

Descriptive analytics are the first step in data reduction, where data is summarized and aggregated to provide an overview of past performance. Predictive analytics, on the other hand, use statistical algorithms and machine learning techniques to analyze historical data and make predictions about future events or trends. Therefore, predictive analytics are the second step in data reduction.

Question 7

In the Management Cockpit, the color ___________ measures market performance.

Accepted Answer

The color red typically represents negative performance or a decrease in performance, so it makes sense that it would be used to measure market performance.

Question 8

Dashboards evolved from ___________.

Accepted Answer

Dashboards evolved from Executive Information Systems (EIS), which were first developed in the 1980s to provide senior executives with a consolidated view of key business metrics and trends. Dashboards build upon this concept by providing quick, at-a-glance views of key performance indicators and metrics across multiple areas of an organization in real-time.

Question 9

__________ is the most popular business analytics tool.

Accepted Answer

Excel is the most widely used business analytics tool due to its versatility, ease of use, and widespread availability. While data mining and OLAP are also popular methods for analyzing business data, they require more specialized skill sets and software. OLTP, on the other hand, is not an analytics tool, but a type of database system designed for transaction processing.

Question 10

____________ analytics summarize what has happened in the past and allow decision makers to learn from past behaviors.

Accepted Answer

Descriptive analytics provide insight into past events and behaviors to inform decision making about the present and future. They do not predict or prescribe actions, but rather provide an understanding of what has already occurred. Option A (Delineative) is not a commonly used term in analytics. Option C (Predictive) refers to the use of statistical models and machine learning to make predictions about future events or behaviors. Option D (Prescriptive) suggests a more advanced stage of analytics in which data-driven insights are used to recommend actions or interventions.

Question 11

You are the CEO of Widget Inc. and are looking at your daily-provided dashboard. You see John Smith's European division isn't doing well and want more details. When you click on John Smith's division to get more information on each European country, you would be using the _________ capability of your dashboard.

Accepted Answer

The drill down capability allows the user to get more detailed information on a specific area by clicking on it. In this scenario, clicking on John Smith's division to get more information on each European country requires the drill down capability. Critical success factor, key performance indicator, and trend analysis are all important metrics and capabilities of a dashboard, but they do not apply to this specific situation.

Question 12

Harrah's Entertainment is an example of company that _____________.

Accepted Answer

Harrah's Entertainment is an example of a company that uses business analytics to support organizational transformation.

Question 13

_____________ analysis focuses on the desired level of output.

Accepted Answer

Goal-seeking analysis is used to determine the inputs required to achieve a desired output level. It involves adjusting the input variables until the desired output is reached. Therefore, it focuses on the desired level of output. The other options listed are types of analysis but do not specifically focus on desired output level.

Question 14

Esurance frequently uses the business practice of ___________ to get customers to add towing to their policies.

Accepted Answer

Esurance is using upselling to encourage customers to add towing to their policies. Upselling refers to convincing customers to purchase additional products or services beyond what they initially intended to buy. In this case, Esurance is trying to get customers to add towing to their policy, which is an additional service beyond the primary insurance coverage.

Question 15

3M is an example of a company that ____________.

Accepted Answer

3M has developed an infrastructure to support enterprisewide analytics, which includes a variety of analytics tools and techniques applied across the organization.

Question 16

From the textbook cases, which of the following companies did NOT use descriptive analytics?

Accepted Answer

Both Esurance and Fandango used descriptive analytics to analyze data and improve their business operations, while UPS used it to optimize its logistics and supply chain management. Simpa Networks, on the other hand, did not use descriptive analytics as it is a case about predictive analytics and how the company used it to determine creditworthiness of potential customers in rural India.

Question 17

Twiddy & Company implemented _________; this system ___________.

Accepted Answer

Twiddy & Company implemented SAS, which is a software suite used for advanced analytics, business intelligence, and data management, allowing them to analyze data on trends, provide property information, and suggest optimal prices.

Question 18

Business analytics applications typically provide users with a view of ___________; data mining helps to explain ____________.

Accepted Answer

Business analytics applications provide users with insights into what has happened in the past and the present, while data mining helps to identify patterns and explain why certain events occurred, offering insight into why it is happening.

Question 19

______________ analytics recommend one or more courses of action and show the likely outcome of each decision.

Accepted Answer

Prescriptive analytics recommend specific courses of action and show the likely outcome of each decision.

Question 20

The purpose of predictive analytics is _______ decision makers what will happen in the future because predictive analytics are based on ________.

Accepted Answer

The answer of The purpose of predictive analytics is _______...

Quiz 5: Business Analytics

Darden Restaurants' Check-Level Analytics system ____ and ultimately _.