Exam 1: Introduction

_____________________ refers to the technology that allows data, collected from sensors in all types of machines, to be sent over the Internet to repositories where it can be stored and analyzed.

___________________ may be used to develop an optimal strategy when a decision maker is faced with several decision alternatives and an uncertain set of future events.

Business analytics is the __________________________ process of transforming data into insight for making better decisions.

A mathematical model that gives the best decision, subject to the situation's constraints, is an a(n) _________________.​

____________________ analytics is the analysis of online activity, such as visits to websites or social media.

Advanced analytics generally refers to

In the financial sector, ___________________________ are used to construct financial instruments such as derivatives.

Which one of the following is used in predictive analytics?

A forecast that helps direct police officers to areas where crimes are likely to occur based on past data is an example of

A data __________________ is trained in both computer science and statistics and knows how to effectively process and analyze large amounts of data.

Which of the following best exemplifies big data?

A better understanding of consumer behavior through analytics directly leads to

Data dashboards are a type of _________ analytics.

Simulation optimization helps

The use of analytical techniques for better understanding patterns and relationships that exist in large data sets is ______________.​

Tactical decisions define

The U.S. Internal Revenue Service uses _____________ to identify patterns that distinguish questionable annual personal income tax filings.

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 data ______________ is a request to obtain information with certain characteristics from a database.​

One of the 4 Vs of big data that refers to uncertainty due to data inconsistency and incompleteness, ambiguities, latency, deception, and model approximations is _________.