Question 1)

Part A) Introducing analytical decisions I) Define the purpose of business analytics and explain how their use may provide value to organisations II) Distinguish business intelligence from business analytics regarding focus of the eight analytical steps III) Describe using an applied example the four analytics components IV) Illustrate with examples four business requirements for integrating business analytics

Part B) Numeracy and data modelling I) Define statistics and explain their purpose in relation to numbers II) Explain what is meant by a hypothesis and how this concept may be used in business analytics III) Distinguish between three basic forms of numerical data and provide an example of how each may be summarised using statistics IV) Give real-world examples of positive, negative and zero correlations and explain whether these may or may not represent cause-effect relationships