Business Intelligence and Analytics Flashcards

What is the role of data governance in BI?

Answer: Establishing policies and standards for data quality, security, and usage

Data governance establishes the policies, standards, processes, and accountabilities for managing data as a strategic asset across the organization.

Big Data is often characterized by the original '3 Vs' which include:

Answer: Volume, Velocity, and Variety

The original '3 Vs' of Big Data — Volume (massive scale), Velocity (speed of generation), and Variety (diverse data types) — were defined by Doug Laney at Gartner.

Which BI tool capability allows users to explore data freely without predefined reports?

Answer: Ad hoc analysis / self-service analytics

Ad hoc analysis or self-service analytics empowers business users to create their own queries and reports without relying on IT to build predefined reports.

What is a balanced scorecard in the BI context?

Answer: A strategic management framework measuring performance across four perspectives

The balanced scorecard measures organizational performance across four perspectives — financial, customer, internal processes, and learning/growth — for balanced strategic monitoring.

In business analytics, regression analysis is primarily used to:

Answer: Understand the relationship between variables and predict numerical outcomes

Regression analysis examines the relationship between dependent and independent variables to understand how changes in predictors affect outcomes and make numerical predictions.

What does 'data literacy' mean in an organizational context?

Answer: The ability to read, understand, and work with data effectively

Data literacy is the ability to read, understand, analyze, and communicate with data effectively — a critical skill for employees in data-driven organizations.