Page 165 - CITP Review

9.
a. Correct. Reporting tools can be classified as general purpose, not single purpose. The
general purpose tools include OLAP, DSS, EIS, and dashboards.
a. Incorrect. Visualization reporting tools include OLAP, EIS, and dashboards.

b. Incorrect. Strategic reporting tools include BPM, dashboards, and balanced scorecards.
c. Incorrect. Performance management reporting tools include BPM, dashboards, and
balanced scorecards.

10.
a. Incorrect. EIS is a visual tool that summarizes a specified area of data into a single
visual.

b. Incorrect. OLAP is a visual tool that uses the cube method, providing results that are
natural subjects for visualization.

c. Incorrect. MS BI is a dashboard, which is particularly suited for visualization.
d. Correct. Information lifecycle management (ILM) is not a visual tool. It is an important
component of data management.

11.
a. Incorrect. Financial forecasting is focused on producing financial estimates.

b. Incorrect. Financial modeling is focused on constructing an abstraction of an actual
financial situation.
c. Incorrect. Prescriptive analytics is an element of business analytics focused on
determining the best course of action for a given situation.
d. Correct. Predictive analytics provides forward-looking (predictive) insights on a wide
variety of issues.

12.
a. Correct. Weather predictions based on historical patterns on projected oil production is
an example of where predictive analytics could be used for Sunny Day Corp. in preparing
forward-looking insights.
b. Incorrect. Combining (manipulating) is not of predictive value in and of itself, but the
resulting data may prove useful in subsequent predictive analytics.
c. Incorrect. A flux analysis (horizontal analysis) assesses fluctuations in account balances
from one period to another.
d. Incorrect. Merely reviewing the data does necessarily include the element of analysis to
extract useful predictive data to aid in value added organizational decision-making.

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