MIS 2101 Exam 2

Question 1

What is data visualization?

Answer 1

Data visualization is the process of representing data visually to communicate patterns and insights in the data. Data visualization can be used in a wide range of contexts, i.e. a business setting or science setting.

Question 2

What is the goal of data visualization? How does it do it?

Answer 2

To make complex data more accessible and easier to understand. It can be done with charts, graphs, maps and other visual representations of data.

Question 3

What is data analytics?

Answer 3

Data analytics is the process of examining and concluding insights from it. Can also be used in a variety of fields including business, science, and healthcare.

Question 4

How is data analytics done?

Answer 4

Data analytics utilizes the use of statistical and computational techniques to identify patterns and relationships in the data.

Question 5

What are the key differences between data visualization and data analytics?

Answer 5

The main difference is their individual purposes.
* Data visualization is focused on communicating patterns and insights within data.
* Data analytics is focused on concluding insights from the data.
* Data visualization is often used as a tool for data analytics.
* Data visualization requires experience with graphic design and visual communication.
* Data analytics requires skill in statistics, programming, and data analytics.

Question 6

Why does it matter to know the difference between data visualization and analytics?

Answer 6

It can help organizations make better use of their data and develop more effective data strategies.

Question 7

What is business intelligence (BI)?

Answer 7

Business intelligence (BI) is a set of strategies and technologies enterprises use to analyze business information and transform it into actionable insights that inform strategic and tactical business decisions.

Question 8

What do BI tools do?

Answer 8

BI tools access and analyze data sets and present analytical findings in reports, summaries, dashboards, graphs, charts, and maps to provide users with detailed intelligence about the state of the business.

Question 9

What is a more concise definition of BI?

Answer 9

A range of tools that provide quick, easy-to-digest access to insights about an organization’s current state, based on available data.

Question 10

What are some benefits of BI?

Answer 10

1. Data-driven business decisions.
2. Faster analysis and intuitive dashboards.
3. Increased organizational efficiency.
4. Improved customer experience.
5. Improved employee satisfaction.
6. Trusted and governed data.
7. Increased competitive advantage.

Question 11

What are some business intelligence examples?

Answer 11

• A co-op organization could use BI to keep track of member acquisition and retention.
• BI tools could automatically generate sales and delivery reports from CRM data.
• A sales team could use BI to create a dashboard showing where each rep’s prospects are on the sales pipeline.

Question 12

What are differences between Business Intelligence (BI) and Business Analytics (BA)?

Answer 12

• BI should be considered a subset of BA
• BI focuses on descriptive analytics, data collection, data storage, knowledge management, and data analysis to evaluate past business data and understand currently known information.

*BA is about looking forward
* BA uses data mining, data modeling, and machine learning to answer why something happened and predict what might happen in the future.

Question 13

Business Intelligence tools:

Answer 13

• Domo
• Dundas BI
• Microsoft Power BI
• MicroStrategy
• Oracle Analytics Cloud
• Qlik
• SAS
• Sisense
• Tableau
• Tibco

Question 14

Why are BI analysts necessary?

Answer 14

• BI analysts are necessary because they help manage and maintain self-service BI tools.
• They standardize reports.
• They need to make sure data is correct and consistent.

Question 15

What is the annual salary for a BI analyst?

Answer 15

• Average: $72,000; High: $97,000; Low: $53,000