BUSINESS ADMINISTRATION
BUSINESS ANALYTICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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When There’s No Data
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When There’s No Precedent
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When the Decision Maker Has Considerable Experience
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When the Variables Can’t Be Measured
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Detailed explanation-1: -Business intelligence (BI) is a technology-driven process for analyzing data and delivering actionable information that helps executives, managers and workers make informed business decisions.
Detailed explanation-2: -Business analytics is used for data-driven or fact-based decision making, which is often seen as more objective than other alternatives for decision making."
Detailed explanation-3: -Data quality management is a set of practices that aim at maintaining a high quality of information. It goes all the way from the acquisition of data and the implementation of advanced data processes, to an effective distribution of data. It also requires a managerial oversight of the information you have.
Detailed explanation-4: -Descriptive analytics are useful because they allow us to learn from past behaviors, and understand how they might influence future outcomes. The vast majority of the statistics we use fall into this category. (Think basic arithmetic like sums, averages, percent changes.)