Question

Which of the following is not an application of BI in Insurance ?

Select one:

a. cherry pick customer and increase profitability

b. identify and Fraudlant claim practise

c. Assess the effect of events on market movement

d. Determining Optimal Rate plan

2-

Business intelligence can reveal which remains hidden in the millions of bytes of data however

Select one:

a. It is very time consuming process

b. some hypothesis with domain knowledge is needed.

c. It is not legal in many countries

d. All of above

3-

Which of the following is correct order of steps in evaluating the alternatives.

Select one:

a. Test, evecute, develop

b. Develop, test, exeucute

c. Develop, execute, test

d. Execute, test, develop

4-

The Goal of data warehousing is to

Select one:

a. To bring together data from a variety of sources and merge it for decision makers.

b. To select the best alternative from all available alternative.

c. None of above

d. To takes data as input process, and gives information as output.

5-

The data warehouse must be loaded regularly so that it can serve its purpose of facilitating business analysis.

Select one:

a. True

b. False

6-

For purpose of facilitating business analysis the data must be laoded

Select one:

a. regularly in the data warehouse

b. regularly in datamart

c. weekly in data mart

d. weekly in data warehouse

Answer 1

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[1] Which of the following is not an application of BI in Insurance?

[a.] Cherry-pick customer and increase profitability

[b.] Identify any fraudulent claim practice

[c.] Assess the effect of events on market movement

[d.] Determining the Optimal Rate plan

The correct answer is option [c.] i.e. assess the effect of events on market movement.

Explanation – Business intelligence utilizes data mining methods to [1.] Determine the optimal rate plans dependent on the investigation of cases and client information, [2] Forecast guarantee measures of property and clinical expenses for better business planning, [3.] Predict which clients are bound to purchase new strategies with extraordinary highlights to build profitability and cherry-pick clients, and [4.] Identify and forestall incorrect claim payments and fraudulent exercises. Thus, the abovementioned alternatives i.e. option [a], [b], and [d] are incorrect answers.

[2] Business intelligence can reveal which remains hidden in the millions of bytes of data however

[a.] It is a very time-consuming process

[b.] Some hypothesis with domain knowledge is needed.

[c.] It is not legal in many countries

[d.] All of the above

The correct answer is option [d.] all of the above.

Explanation – BI can be an exceptionally time-consuming and tedious procedure. Yet, the crude information needs bunches of preparing and taking care of before you can even move toward the outcomes. Moreover, it's basic to ensure information is gathered and shared over the entire association as some speculation with domain knowledge is required. In addition, it is exploitative and illegal in numerous nations. Thus, the abovementioned alternatives i.e. option [a], [b], and [c] are incorrect answers.

[3] Which of the following is the correct order of steps in evaluating the alternatives.

[a.] Test, execute, and develop

[b.] Develop, test, and execute

[c.] Develop, execute, and test

[d.] Execute, test, and develop

The correct answer is option [b.] i.e. develop, test, and execute.

Explanation – The steps comprise the development of alternatives, testing, and executing the alternatives, and building up extra alternatives dependent on the testing or execution. Thus, the abovementioned alternatives i.e. option [a], [c], and [d] are incorrect answers.

[4] The goal of data warehousing is to

[a.] To bring together data from a variety of sources and merge it for decision-makers.

[b.] Select the best alternative from all available alternatives.

[c.] None of the above

[d.] To takes data as an input process and gives information as output.

The correct answer is option [a.] i.e. to bring together data from a variety of sources and merge it for decision-makers.

Explanation – The goal of data warehousing is to unite information from an assortment of sources and union it for decision-makers. In this way, structuring the data warehouse implies getting information from sources. The corporate database gives the establishment of a choice warehouse. These frameworks by and large give information about a huge range of exchanges led in the ordinary business activity of an organization. Inside databases record data with respect to deals, costs, buys, forecasts, and different parts of the organization. While significant, these authorities' records of the enterprises are not adequate to help a large portion of the present decision making. Thus, the abovementioned alternatives i.e. option [b], [c], and [d] are incorrect answers.

[5] The data warehouse must be loaded regularly so that it can serve its purpose of facilitating business analysis.

[a.] True

[b.] False

The correct answer is option [a.] i.e. true.

Explanation - The data warehouse must be stacked routinely so it can fill its need to encouraging business analysis. To do this, information from at least one operational database should be separated, changed, and replicated into the warehouse. Thus, the abovementioned alternative i.e. option [b] is an incorrect answer.

[6] For the purpose of facilitating business analysis, the data must be loaded

[a.] Regularly in the data warehouse

[b.] Regularly in the data mart

[c.] Weekly in the data mart

[d.] Weekly in the data warehouse

The correct answer is option [a.] i.e. regularly in the data warehouse.

Explanation - The data warehouse must be stacked routinely so it can fill its need to encouraging business analysis. To do this, information from at least one operational database should be separated, changed, and replicated into the warehouse. Thus, the abovementioned alternatives i.e. option [b], [c], and [d] are incorrect answers.