Which Of These Are Examples Of Business Analytics
Question: An online retailer uses complex data-mining software to evaluate the preferences and buying habits of its customers and makes decisions based on these findings. This is an example of the use of ______ in the decision-making process.
Answer: analytics
Question: A _____ is a choice made from available alternatives.
Answer: decision
Question: According to psychologist Daniel Kahneman, System 1 thinking is _____.
Answer: intuitive and largely unconscious
Question: The _____ bias occurs when people’s positive feelings about their own decision-making ability is greater than their objective accuracy.
Answer: overconfidence
Question: Which model of decision making explains how managers should use logic to determine the optimal means of furthering the organization’s best interests?
Answer: The rational model
Question: Which of the following are examples of what can function as the first stage in rational decision making by managers?
Answer: Sales shortfalls
Poor product quality
Customer complaints
Question: An AI application that learns from human inputs in order to assist humans in making better decisions is known as
Answer: augmented intelegence
Question: When Kendra’s manager asked the team to come up with new ideas for attracting people to their trade show booth, Kendra suggested installing a video game in the booth. Which part of the rational decision making process does Kendra’s idea exemplify?
Answer: Think up alternative solutions.
Question: Which of the following questions would you use to evaluate alternatives in the third stage of the rational model of decision making.
Answer: Is it ethical/ultimately effective/feasible
Question: Successful implementation of major decisions requires which of the following?
Answer: Sensitivity to those affected by the decision
Careful planning