Two Sections 5 short answer questions and a multiple choice questions.

Two Sections 5 short answer questions and a multiple choice questions.

.

study guide

1.Define “data analytics” and “business analytics”

2.Discuss the growing role of data analytics in business

3.Explain how data analytics is improving business decision-making

4.Define “big data”

5.Discuss the growing role of and importance of big data in business

6.Explain the methods through which big data is collected

7.Discuss the ethics of big data

8.List and define basic tools used to organize, analyze, and visualize business data

9.List and define basic statistics (e.g., mean, standard deviation, correlation)

10.Calculate basic statistics in Excel

11.Explain how software and statistics can be combined to answer business questions

12.List and define the four types of data analytics

13.Discuss examples of business analytics

14.Explain the difference between correlation and causation

.

The 5 short answer questions are:

Question 1

Explain the difference between business reporting and actionable insights, then relate this to the progression of “What? So What? Then What?”

Question 2

Explain why data visualization is a key method for communicating the results of data analytics. Use at least one example from one of the business cases in the course.

Question 3

Big data collected on the internet can come with both benefits and ethical concerns for customers. Consider online shopping at Amazon. List as many benefits as you can think of for the big data collected by Amazon. Then list as many ethical concerns as you can think of for the big data collected by Amazon.

Question 4

Describe an example of how business analytics could be used to increase business revenue. Provide as much detail as possible.

Question 5

Describe an example of how business analytics could be used to reduce business expenses. Provide as much detail as possible.