Managers Can Use BI to Answer Tough Business Questions

question 222

Multiple Choice

Managers can use BI to answer tough business questions.Which of the following describes the value of knowing where the business is now?

• A) A historical perspective offers important variables for determining trends and patterns.
• B) Looking at the current business situation allows managers to take effective action to solve issues before they grow out of control.
• C) Setting strategic direction is critical for planning and creating solid business strategies.
• D) None of these choices

Make informed decisions on whether to make or buy components based on relevant costs.

Determine the best product mix to maximize the use of a constrained resource.

Evaluate the financial advantage/disadvantage of further processing products.

Make decisions on resource allocation based on contribution margin and constrained resources.