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Welcome to the Advanced Data Analytics for Business MCQs Page

Dive deep into the fascinating world of Advanced Data Analytics for Business with our comprehensive set of Multiple-Choice Questions (MCQs). This page is dedicated to exploring the fundamental concepts and intricacies of Advanced Data Analytics for Business, a crucial aspect of Big Data Computing. In this section, you will encounter a diverse range of MCQs that cover various aspects of Advanced Data Analytics for Business, from the basic principles to advanced topics. Each question is thoughtfully crafted to challenge your knowledge and deepen your understanding of this critical subcategory within Big Data Computing.

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Check out the MCQs below to embark on an enriching journey through Advanced Data Analytics for Business. Test your knowledge, expand your horizons, and solidify your grasp on this vital area of Big Data Computing.

Note: Each MCQ comes with multiple answer choices. Select the most appropriate option and test your understanding of Advanced Data Analytics for Business. You can click on an option to test your knowledge before viewing the solution for a MCQ. Happy learning!

Advanced Data Analytics for Business MCQs | Page 1 of 15

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Q1.
What is the potential impact of Big Data on market domination?

a.

Big Data has no significant impact on market domination.

b.

Market domination is driven by companies that use the best data the fastest.

c.

Big Data primarily affects economic forecasting.

d.

Market domination is driven by companies that conduct surveys.

Discuss
Answer: (b).Market domination is driven by companies that use the best data the fastest. Explanation:The potential impact of Big Data on market domination is that companies that absorb and use the best data the fastest may dominate the market.
Q2.
What is the definition of Business Intelligence (BI) according to Davenport and Harris (2007)?

a.

The use of computing to gain insights from data

b.

A set of technologies and processes that use data to understand and analyze business performance

c.

The extensive use of data, statistical and quantitative analysis, explanatory and predictive models

d.

Fact-based management to drive decisions and actions

Discuss
Answer: (b).A set of technologies and processes that use data to understand and analyze business performance Explanation:Business Intelligence (BI) is defined as "a set of technologies and processes that use data to understand and analyze business performance," as per Davenport and Harris (2007).
Q3.
What is the main factor behind the growth of business analytics?

a.

Availability of enormous amounts of data

b.

Advanced analytics techniques

c.

The use of computing to gain insights from data

d.

Digitized data from transaction systems

Discuss
Answer: (a).Availability of enormous amounts of data Explanation:The growth of business analytics is primarily driven by the availability of enormous amounts of data.
Q4.
What does the term "business analytics" refer to in the information technology industry?

a.

The use of computing to gain insights from data

b.

Fact-based decision-making

c.

The use of advanced analytics techniques

d.

A specific method or application

Discuss
Answer: (a).The use of computing to gain insights from data Explanation:In the information technology industry, "business analytics" refers to the use of computing to gain insights from data.
Q5.
What type of data sources can be used in business analytics?

a.

Only data from a company's internal sources

b.

Only data from public sources

c.

Data from a company's internal sources, third-party data providers, and public sources

d.

Only data from automated business processes

Discuss
Answer: (c).Data from a company's internal sources, third-party data providers, and public sources Explanation:Business analytics can utilize data from a company's internal sources, third-party data providers, and public sources.
Q6.
What is the focus of advanced analytics in organizations?

a.

Restricting the ability of analysts to explore data

b.

Identifying fraud after transactions have occurred

c.

Supporting fact-based decision-making

d.

Maintaining predictable performance of production platforms

Discuss
Answer: (b).Identifying fraud after transactions have occurred Explanation:Advanced analytics in organizations focuses on identifying fraud before transactions occur.
Q7.
What is the challenge faced by organizations with good enterprise data management practices when it comes to operational analytics?

a.

Inability to explore and transform data

b.

Lack of demand-driven processes

c.

Restricting the ability of analysts to explore data

d.

Maintaining predictable performance without limiting exploration

Discuss
Answer: (d).Maintaining predictable performance without limiting exploration Explanation:Organizations with good enterprise data management practices may struggle to maintain predictable performance without limiting the exploration and transformation of data in operational analytics.
Q8.
What does advanced analytics require in terms of a process?

a.

Demand-driven, forward-looking, flexible, exploratory process

b.

A highly structured and rigid process

c.

A process that restricts exploration and transformation of data

d.

A backward-looking, inflexible process

Discuss
Answer: (a).Demand-driven, forward-looking, flexible, exploratory process Explanation:Advanced analytics requires a demand-driven, forward-looking, flexible, and exploratory process.
Q9.
Which of the following is NOT a common functional category for business analytics?

a.

Customer analytics

b.

Supply chain analytics

c.

Finance analytics

d.

Fraud and risk analytics

Discuss
Answer: (c).Finance analytics Explanation:There are various functional categories for business analytics, including customer analytics, supply chain analytics, and fraud and risk analytics.
Q10.
What does "SCA" stand for in the context of business analytics ?

a.

Social Customer Analytics

b.

Supply Chain Analytics

c.

Service Center Analytics

d.

Strategic Customer Analytics

Discuss
Answer: (b).Supply Chain Analytics Explanation:"SCA" stands for Supply Chain Analytics in the context of business analytics.
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