CIS 405 FINAL MODULES 7–13 FULL STUDY
QUESTIONS AND ACCURATE ANSWERS
◉ "tell me what is likely to happen" Answer: predictive analysis
hot fairly new name, but not really
basically trying to predict the future from:
*historical and current data
*trends and trajectories
*playing the odds
ex: if we raise prices by 5%, what will that do to our market share?
overall in specific countries for specific products
if we relax our customer credit scored standards what is likely to
happen to our loan portolio
◉ "tell me what might have happened" Answer: rewriting history
usually involves scenarios, goal seeking, etc
-often uses "advanced excel"
ex:
,priced decreased by 5% for laptops in the beginning of the year how
would that have effected the market share by the end of the year
◉ Changing business environment and computerized decision
support Answer: companies are moving aggressively to
computerized support of their operations -> business intelligence
◉ business pressures- responses-support model Answer: business
pressures (result of todays competitive business climate)
responses (to counter the pressures)
support (to better facilitate the process)
◉ the business environment Answer: the environment in which
organizations operate today is becoming more and more complex
creating:
-opportunities, and problems
ex: globalization
business environment factors:
market, consumer demands, technology, and societal
◉ organizational responses Answer: -be reactive, anticipative,
adaptive, and proactive
,managers may take actions, such as:
-employing and strategic planning
-using new and innovative business models
-restructuring business alliances
-participating in business alliances
-improving corporate information systems
-improving partnerships relationships
-encouraging innovation creativity
Improving customer service and relationships.
• Moving to electronic commerce (e-commerce).
• Moving to make-to-order production and on-demand
manufacturing and
services.
• Using new IT to improve communication, data access (discovery of
information),
and collaboration.
• Responding quickly to competitors' actions (e.g., in pricing,
promotions, new
products and services).
• Automating many tasks of white-collar employees.
• Automating certain decision processes.
• Improving decision making by employing analytics.
, ◉ closing the strategy gap Answer: the gap between goals and
expectations
One of the major objectives of computerized decision support is to
facilitate closing the gap between the current performance of an
organization and its desired performance, as expressed in its
mission, objectives, and goals, and the strategy to achieve them.
◉ The benefits of BI Answer: • The ability to provide accurate
information when needed, including a real-time view of the
corporate performance and its parts
• A survey by Thompson (2004)
• Faster, more accurate reporting (81%)
• Improved decision making (78%)
• Improved customer service (56%)
• Increased revenue (49%)
• See Table 1.2 for a list of BI analytic applications, the business
questions they answer and the business value they bring.
◉ Internal Facing BI Answer: "derived from" customer activity
• Sales org. looking at sales $ and figuring out who top, bottom sales
people are
QUESTIONS AND ACCURATE ANSWERS
◉ "tell me what is likely to happen" Answer: predictive analysis
hot fairly new name, but not really
basically trying to predict the future from:
*historical and current data
*trends and trajectories
*playing the odds
ex: if we raise prices by 5%, what will that do to our market share?
overall in specific countries for specific products
if we relax our customer credit scored standards what is likely to
happen to our loan portolio
◉ "tell me what might have happened" Answer: rewriting history
usually involves scenarios, goal seeking, etc
-often uses "advanced excel"
ex:
,priced decreased by 5% for laptops in the beginning of the year how
would that have effected the market share by the end of the year
◉ Changing business environment and computerized decision
support Answer: companies are moving aggressively to
computerized support of their operations -> business intelligence
◉ business pressures- responses-support model Answer: business
pressures (result of todays competitive business climate)
responses (to counter the pressures)
support (to better facilitate the process)
◉ the business environment Answer: the environment in which
organizations operate today is becoming more and more complex
creating:
-opportunities, and problems
ex: globalization
business environment factors:
market, consumer demands, technology, and societal
◉ organizational responses Answer: -be reactive, anticipative,
adaptive, and proactive
,managers may take actions, such as:
-employing and strategic planning
-using new and innovative business models
-restructuring business alliances
-participating in business alliances
-improving corporate information systems
-improving partnerships relationships
-encouraging innovation creativity
Improving customer service and relationships.
• Moving to electronic commerce (e-commerce).
• Moving to make-to-order production and on-demand
manufacturing and
services.
• Using new IT to improve communication, data access (discovery of
information),
and collaboration.
• Responding quickly to competitors' actions (e.g., in pricing,
promotions, new
products and services).
• Automating many tasks of white-collar employees.
• Automating certain decision processes.
• Improving decision making by employing analytics.
, ◉ closing the strategy gap Answer: the gap between goals and
expectations
One of the major objectives of computerized decision support is to
facilitate closing the gap between the current performance of an
organization and its desired performance, as expressed in its
mission, objectives, and goals, and the strategy to achieve them.
◉ The benefits of BI Answer: • The ability to provide accurate
information when needed, including a real-time view of the
corporate performance and its parts
• A survey by Thompson (2004)
• Faster, more accurate reporting (81%)
• Improved decision making (78%)
• Improved customer service (56%)
• Increased revenue (49%)
• See Table 1.2 for a list of BI analytic applications, the business
questions they answer and the business value they bring.
◉ Internal Facing BI Answer: "derived from" customer activity
• Sales org. looking at sales $ and figuring out who top, bottom sales
people are
