MSIS 3223 EXAM QUESTIONS WITH CORRECT ANSWERS
LATEST UPDATE
What is business analytics?
Pricing
setting prices for consumer and industrial goods, government contracts, and
maintenance contracts
customer segmentation
identifying and targeting key customer groups in retail, insurance, and credit card
industries
Merchandising
determining brands to buy, quantities, and allocations
Location
finding the best location for bank branches and ATMs, or where to service industrial
equipment
Supply Chain Design
determining the best sourcing and transportation options and finding the best delivery
routes
Staffing
ensuring appropriate staffing levels and capabilities, and hiring the right people
health care
scheduling operating rooms to improve utilization, improving patient flow and waiting
times, purchasing supplies, and predicting health risk factors
Benefits
- reduced cost
- better risk management
-profits
- better productivity
-customer satisfaction
Challenges
- lack of understanding
- competing business priorities
- insufficient analytical skills
-lack of good data
-not understanding the benefits versus perceived costs of analytics studies
Descriptive Analytics
-look at the past
-look at Current performance
- use info to make informed decision
Descriptive Analytics questions
-What was the revenue? Profit?
-What was the marketing
Predictive Analytics
LATEST UPDATE
What is business analytics?
Pricing
setting prices for consumer and industrial goods, government contracts, and
maintenance contracts
customer segmentation
identifying and targeting key customer groups in retail, insurance, and credit card
industries
Merchandising
determining brands to buy, quantities, and allocations
Location
finding the best location for bank branches and ATMs, or where to service industrial
equipment
Supply Chain Design
determining the best sourcing and transportation options and finding the best delivery
routes
Staffing
ensuring appropriate staffing levels and capabilities, and hiring the right people
health care
scheduling operating rooms to improve utilization, improving patient flow and waiting
times, purchasing supplies, and predicting health risk factors
Benefits
- reduced cost
- better risk management
-profits
- better productivity
-customer satisfaction
Challenges
- lack of understanding
- competing business priorities
- insufficient analytical skills
-lack of good data
-not understanding the benefits versus perceived costs of analytics studies
Descriptive Analytics
-look at the past
-look at Current performance
- use info to make informed decision
Descriptive Analytics questions
-What was the revenue? Profit?
-What was the marketing
Predictive Analytics
