Fundamentals of Business Analytics

Competences are the combination of a business’ knowledge, skills and technology that can give them the edge versus the competition.

• True
• False

______________ is a family of techniques relating the fields of data science and process management to support the analysis of operational processes based on event logs.

• Process management
• Process Mining
• all of the above

Cluster analysis is a class of techniques that are used to classify objects or cases into relative groups called clustered.

• True
• False

Centroid Clustering is one of the more common methodologies used in cluster analysis.

• True
• False

The purpose of Operational Management is to monitor business activities and identify and detect situations relating to inefficiencies, opportunities, and threats and provide operational solutions.

• True
• False

_________includes the computer itself, which is often referred to as the central processing unit (CPU), and all of its support equipment.

• Software
• Hardware
• Data

What type of data analytics requires no human input ?

• Descriptive
• Predictive
• Prescriptive

Business Analytics can help improve profitability of the business, increase market share and revenue and provide better return to a shareholder.

• True
• False

OLAP stands for ?

• Online Analytical Processing
• Online Analytical Process
• Online Analytical Purpose

The term hardware refers to computer programs and the manuals (if any) that support them.

• True
• False

A business process flow definition is represented as a custom entity and an instance as a process is stored as a record within that entity.

• True
• False

__________ clustering groups data points by how densely populated they are.

• distribution
• density
• cluster

_____________ intelligence is time-sensitive information that is essential when decisions are made and corresponding actions are taken quickly to avoid undesirable outcomes (Threats).

• Time
• Real-Time
• Real

_________ analytics focus on past performance to determine what happened and why.

• Diagnostic
• Predictive
• Descriptive

What is the best business intelligence tool ?

• BOTH A AND B
• SISENSE
• TABLEAU DESKTOP

____________is a data compression technique in machine learning and search algorithms that reduces the size of decision trees by removing sections of the tree that are non-critical and redundant to classify instances.

• Managing
• Proning
• Pruning

The term business process management covers how we study, identify, change, and monitor business processes to ensure they run smoothly and can be improved overtime.

• True
• False

Cluster analysis is also called ________?

• Clusters
• clustering
• clustered

An intelligence operations is the process by which governments, military groups, businesses, and other organizations systematically collect and evaluate information for the purpose of discovering the capabilities and intentions of their rivals.

• True
• False

____________is the discipline in which people use various methods to discover, model, analyze, measure, improve, optimize, and automate business processes.

• Business Process Intelligence
• Business Process Management
• Business Period Management

_________is the process of discovering patterns in large data sets involving methods at the intersection of machine learning, statistics, and database systems.

• Data Plan
• Data Mining
• Data Management

___________ is “data that provides information about other data”.

• Megadata
• Metadata
• Superdata

________ regression is a linear approach for modelling the relationship between the criterion or the scalar response and the multiple predictors or explanatory variables.

• Linear
• Polynomial
• Logistic

________ are used to design a systematic approach to optimize business processes.

• BPM tools
• both a and b
• BPP tools

______________ management is creating and optimizing the paths for data in order to complete items in a given process.

• WorkPlace
• Workplan
• Workflow

KPIs stands for ?

• Key Performance Indicator
• Key Performances Indicators
• Key Performance Indicators

The following are examples of Business Analytics. EXCEPT ONE.

• Prescriptive
• Descriptive
• Diagnostic

The following are common types of market research. EXCEPT ONE.

• interviews
• surveys
• conclusion

The following are common data types, EXCEPT ONE.

• Pros
• Boolean
• Integer

Why do we need Process Mining ?

• Process mining helps identify bottlenecks and creates full transparency on your business processes.
• Process mining helps company to compete with other companies for the higher income.
• both a and b

Self service BI allows business users to access data as per their requirements without any dependence on IT and MIS teams.

• True
• False

_____________ is a process mining tool featuring discovery and conformance checking.

• MANA
• LAN
• LANA

Process Mining is an analytical discipline for discovering, monitoring, and improving processes as they actually are, by extracting knowledge from event logs readily available in today's information systems.

• True
• False

The Real time ___________ monitors and reports agent schedule adherence in real-time using Workforce Management WFM tools.

• organizer
• analysts
• Manager

ElasticNet regression is a regularized regression method that linearly combines the penalties of the lasso and the ridge method.

• True
• False

____________intelligence focuses on providing information designed to improve shorter-term decisions, most often related with the intent of growing market share or revenues.

• Strategic
• Tactical
• Competitive

RPA stands for ROBOTIC PROCESS AUTOMATION.

• True
• False

________ Analytics describing or summarizing the existing data using existing intelligence tools to better understand what is going on or what has happened.

• Descriptive
• Diagnostic
• Predictive

Is SQL a business intelligence tool ?

• True
• False

Google real time allows you to monitor activity as it happens on your site or app.

• True
• False

_________ remove intra- and interdepartmental communication barriers through discussion forums, dynamic workspaces, and message boards.

• collaboration tools
• business analytics
• content management

The four main kinds of analytics are DESCRIPTIVE, DIAGNOSTIC, PREDICTIVE and PRESCRIPTIVE.

• True
• False

__________regression estimates the parameters of a logistic model and is form of binomial regression.

• Linear
• Polynomial
• Logistic

Business Management (BM) is a technology-driven process for analyzing data and delivering actionable information hat helps executives, managers and workers make informed business decisions.

• True
• False

What type of data analytics has the most value ?

• Prescriptive
• Diagnostic
• Predictive

_______regression is used for fitting regression models with predictive models.

• Ridge
• Stepwise
• Polynomial

An information service (IS) is any organized system for the collection, organization, storage and communication of information.

• True
• False

The following are important types of Business Intelligence. EXCEPT ONE.

• Managing
• Reporting
• Dashboards

The main types of scientific model are visual, mathematical and computer models.

• True
• False

Why is BPM is used ?

• BPM is used on an outgoing basis for business process improvement.
• BPM is used on an ongoing and outgoing basis for business process improvement.
• BPM is used on an ongoing basis for business process improvement.

Is Python a data mining tool ?

• True
• False

What is the process of business Intelligence ?

• gathering data and organizing it through reporting
• turning it into meaningful information through analysis
• both a and b

___________ is the systematic computational analysis of data or statistics.

• Analytics
• Data Management
• Data analytics

Interviews are one-on-one conversations with members of your target market.

• True
• False

________are facts that are used by programs to produce useful information.

• Software
• Data

__________a robust platform for modeling and executing process-based applications, including business rules.

• Business Analytics
• Content management
• Process engine

Business __________ refers to the skills, technologies, and practices for continuous iterative exploration and investigation of past business performance to gain insight and drive business planning.

• Plan
• Management
• Analytics

We can say that data mining is mining knowledge from data.

• True
• False

____________ comprises the strategies and technologies used by enterprises for the data analysis of business information.

• Business Intelligent
• Business Marketing
• Business Intelligence

What are the3 basic functions of business organizations ?

• Operations, finance and marketing
• Operations, finance and Analytics
• Operations, Management and finance

__________ is the process of determining the viability of a new service or product through research conducted directly with potential customers.

• Company research
• Market Research
• Marketplace Research

Trend analysis is an analysis of macro environmental factors in the external environment of a business, also called PEST analysis.

• True
• False

A business process flow is a way of visualizing and documenting the steps in business process.

• True
• False

Data discovery tools and cloud data services are examples of Data Intelligence.

• True
• False

The primary objective of SWOT analysis is to help organizations develop a full awareness of all the factors involved in making a business decision.

• True
• False

________ are a connecting system that allows diverse computers to distribute resources.

• Networks
• Hardware
• Database

RCA stands for ?

• Root Cause Analytics
• Root Cause Analysis
• Rooted Cause Analysis

Is EXCEL a data mining tool ?

• True
• False

Data analytics is the science of analyzing raw data in order to make conclusions about that information.

• True
• False

____________ provides a system for storing and securing electronic documents, images, and other files .

• collaboration tools
• business analytics
• content management

__________ analytics is a type of predictive analytics that is used to recommend one or more course of action on analyzing the data.

• Predictive
• Diagnostic
• Prescriptive

______________ is used for curvilinear data.

• Polynomial
• linear
• logistic

__________ is employed to task with business analytics problems and derive analytical models.

• Data Management
• Datasets
• Data analytics

Prescriptive analytics is the third and final phase of business analytics, which also includes descriptive and predictive analytics.

• True
• False

________ regression is a regression analysis method that performs both variable selection and regularization.

• stepwise
• Lasso
• Ridge

______________are the commands for combining the components above to process information and produce the preferred output.

• Hardware
• Procedures
• Database

__________ is used in many areas of business and research, including sales and marketing, product development, healthcare, and education.

• Descriptive
• Data Mining
• Prescriptive

Databases are the gathering of programs containing related data.

• True
• False

_________ clustering identifies the probability that a point belongs to a cluster.

• distribution
• density
• cluster

BAM stands for BUSINESS ACTIVITY MONITORING.

• True
• False

__________ analytics emphasizes on predicting the possible outcome using statistical models and machine learning techniques.

• Predictive
• Prescriptive
• Diagnostic

_____________is a method of problem solving used for identifying the root causes of faults or problems.

• Root Cause Analysis
• Root Cause Analyzed
• Root Cause Analytics

Prescriptive analytics are used to determine customer responses or purchases, as well as as promote cross-sell opportunities.

• True
• False

________ regression is a technique for analyzing multiple regression data.

• Lasso
• stepwise
• Ridge

__________ analysis refers to a method of mathematically sorting out which variables may have an impact.

• cluster
• diagnostic
• regression

A __________ tree is a structure that includes a root node, branches, and leaf nodes.

• Decision
• Data
• Data mining

________ analytics encompasses a variety of statistical techniques from data mining, predictive modelling , and machine learning, that analyze current and historical facts to make predictions about future or otherwise unknown events.

• Prescriptive
• Predictive
• Directive

Google analytics provides an SDK that allows gathering usage data from IOS and android app, known as Google analytics for mobile apps.

• True
• False

_____________ intelligence focuses on the longer term, looking at issues affecting a company’s competitiveness over the course of a couple of years.

• Strategic
• Tactical
• Competitive

Web analytics is the measurement, collection, analysis and reporting of web data to understand and optimize web usage.

• True
• False

The entire purpose of Business Plan is to support and facilitate better business decisions.

• True
• False

AGE is frequently collected as ratio data, but can also be collected as ordinal data.

• True
• False

What are the goals of Business Activity Monitoring ?

• The goals of business activity monitoring is to provide real time information about the output of various operations, processes, and transactions.
• The goals of business activity monitoring is to provide real time information about the status and results of various operations, processes, and transactions.
• all of the above

“An information system (IS) is a group of components that interact to produce information”

• True
• False

___________lets you measure your advertising ROI as well as track your flash, video, and social networking sites and application.

• Google analytics
• Data analytics
• Internet analytics

Data mining is defined as a process used to extract usable data from a larger set of any raw data.

• True
• False

What are examples of business analytics ?

• Improving once life
• Developing marketing strategies
• Using business Management

A software framework for the evaluation of process mining algorithms has been developed at the ______________ by Wil van der Aalst and others, and is available as an open source toolkit.

• Eindhoven University of Technology
• Eindhuven University of Technology
• Eindhoven University of Technologies

The following are common functions of business intelligence. EXCEPT ONE.

• dashboard development
• data event processing
• Reporting

The following are characteristics of Data Mining. EXCEPT ONE.

• Focus on small datasets
• Prediction of likely outcomes
• Focus on large database

The term Business Activity Monitoring was originally coined by analysts at Gartner, Inc. and refers to the aggregation, analysis, and presentation of real-time information about activities inside organizations and involving customers and partners.

• True
• False

________ refers to the use of so-called "bots", to automate process steps in your company that previously required human action.

• PAR
• ARP
• RPA

The SWOT analysis is a compilation of your company's strengths, weaknesses, opportunities and _____________.

• time management
• threats
• truth

Business process management activities can be arbitrarily grouped into categories such as design, modeling, execution, monitoring, and optimization.

• True
• False

Which is the best data mining tool ?

• all of the above
• Orange
• Teradata

_________enable managers to identify business issues, trends, and opportunities with reports and dashboards and react accordingly.

• Process engine
• Business Analytics
• Content management

_________ business process management is the use of (BPM) tools that are delivered as software services (SaaS) over a network.

• Cloud management
• Business Cloud
• Cloud computing

________ is a Process Mining software offered by Gradient ECM.

• Minuet
• Minit
• Minite

Metadata means “data about data".

• True
• False

___________analysis is a set of statistical processes for estimating the relationships between a dependent variable and one or more independent variables.

• Market research
• Cluster
• Regression

SWOT analysis is also called ?

• Business process analysis
• Business Process Discovery
• Business analysis process

__________models are mathematical models that have a closed form solution , the solution to the equations used to describe changes in a system can be expressed as a mathematical analytic function.

• Management
• Mining
• Analytical

_________analysis is a method to analyze the environment in which a business operates.

• Context
• Business
• SWOT

_____________ intelligence is the action of defining, gathering, analyzing, and distributing intelligence about products, customers, competitors, and any aspect of the environment needed to support executives and managers making strategic decisions for an organization.

• Operational
• Process
• Competitive

A _______________ is a picture of the separate steps of a process in sequential order.

• Both a and b
• Graphs
• Flowchart

_______________ is software that aids in monitoring of business activities, as those activities are implemented in computer systems.

• Business activity monitored
• Business activity management
• Business activity monitoring

Connectivity clustering initially recognizes each data point as its own cluster.

• True
• False

CEP stands for COMPLEX EVENT PROCESSING.

• True
• False

___________ intelligence is a category of real-time dynamic, business analytics that delivers visibility and insight into data, streaming events and business operations.

• Operational
• Management
• Mining

Market research generally involves three different types of research : Primary, Secondary and Tertiary.

• True
• False

_________ are a data visualization tool that allow all users to understand the analytics that matter to their business, department or project.

• Dashboard
• Diagnostic analytic
• Predictive analytics

The following are Business Process Discovery Techniques. EXCEPT ONE.

• Accurate information
• Standardized result
• complete information

Real time data ____________ describes a system that reflects the state of the warehouse in a real time.

• Planning
• Warehousing
• Managing

Business Intelligence helps business leaders use data in ways that are meaningful and powerful.

• True
• False

Which software is used for data mining ?

• Excel
• Facebook
• Rapid Miner

At this stage, historical data can be measured against other data to answer the question of why something happened.

• Predictive analytics
• Diagnostic analytics

What are three types of processes ?

• Service, business, and planning
• Management, operational and service
• Operational, supporting and Management