Exam 1: Introduction

The decisions concerning an organization's goals and future plans are called

Which of the following sources of big data is not publicly available?

_________ analytics are techniques that use models, constructed from past data, to predict the future or to ascertain the impact of one variable on another.

Simulation optimization helps

Advanced analytics generally refers to

Data-driven decision making tends to decrease a firm's

A retail store owner offers a discount on product A and predicts that the customers would purchase products B and C in addition to product A. Identify the technique used to make such a prediction.

A __________ decision involves higher-level issues and is concerned with the overall direction of the organization, defining the overarching goals and aspirations for the organization's future.

Which of the following is not an approach to making decisions?

Which one of the following is used in predictive analytics?

The extraction of information on the number of shipments, how much was included in each shipment, the date each shipment was sent, and so on from the manufacturing plant's database exemplifies

Utility theory is the study of the __________ or relative desirability of a particular outcome that reflects the decision maker's attitude toward a collection of factors, such as profit, loss, and risk.

__________ analytics use techniques that take input data and yield a best course of action.

In order to manage an organization's human resource activities, such as hiring employees, tracking, and influencing employee retention, HR personnel use

A __________ decision is concerned with how the organization should achieve the goals and objectives set by its strategy.

Data dashboards are a type of _________ analytics.

Which of the following analytical techniques helps us arrive at the best decision?

Corporate-level managers use ______ to summarize sales by region, current inventory levels, and other company-wide metrics all in a single screen.

__________ assigns values to outcomes based on the decision maker's attitude toward risk, loss, and other factors.

__________ is the most critical step of the decision-making process.