G150 PHA1500 MODULE 02 QUIZ STUDY GUIDE WITH FULL SOLUTIONS 2026

G150 PHA1500 MODULE 02 QUIZ STUDY
GUIDE WITH FULL SOLUTIONS 2026

◉ What is Data Mining? Answer: Techniques that better
understanding patterns and relationships that exist in large data
sets.


◉ Which type of decision involves higher-level issues and defines
the organization's overall goals and aspirations for the future?
Answer: Strategic decisions


◉ Decision Making Phase 1 Answer: Identify and define the
problem.


◉ Decision Making Phase 2 Answer: Determine the criteria that will
used to evaluate alternative solutions.


◉ Decision Making Phase 3 Answer: Determine the set of alternative
solutions.


◉ Decision Making Phase 4 Answer: Evaluate alternatives.


◉ Decision Making Phase 5 Answer: Choose an alternative.

, ◉ What is the difference between a business goal and a data mining
goal? Answer: A business goal states objectives in business
terminology, while a data mining goal states project objectives in
technical terms


◉ What is business analytics? Answer: The scientific process of
transforming data into insight for making better decisions.


◉ What are predictive analytics? Answer: Techniques that use
models constructed from past data to predict the future or to
ascertain the impact of one variable on another.


◉ What does problem formulation in prescriptive analytics involve?
Answer: Translating the verbal statement of a problem into a
mathematical statement


◉ Which data mining goals should be done by prescriptive
analytics? Answer: - Optimize the membership program using
customer behavior and preference data.


- Optimize inventory replenishment strategies using machine
learning models.