Types of Analytics

A retail company wants to enhance its marketing strategy using data analytics.

1. They have a dataset with customer demographics, purchase history, website interactions, and feedback. Which type of analytics helps summarize total sales revenue and customer demographics?

• descriptive analytic

• prescriptive analytic

• diagnostic analytic

• predictive analytic

A healthcare provider wants to analyze patient data to improve treatment outcomes. They have access to medical records, lab results, and patient feedback. Which type of analytics helps summarize patient demographics and overall treatment effectiveness?

• Descriptive Analytics

• Diagnostic Analytics

• Predictive Analytics

• Prescriptive Analytics

An e-commerce platform wants to understand why some customers abandon their shopping carts before completing a purchase. They have data on browsing behavior, cart contents, and checkout processes. Which type of analytics would help identify reasons for cart abandonment, such as website usability issues or unexpected costs?

• Descriptive Analytics

• Diagnostic Analytics

• Predictive Analytics

• Prescriptive Analytics

A financial institution aims to predict which customers are most likely to default on their loans. They have historical data on loan applications, credit scores, and repayment history. Which type of analytics would be useful for forecasting the likelihood of loan defaults based on past customer behavior?

• Descriptive Analytics

• Diagnostic Analytics

• Predictive Analytics

• Prescriptive Analytics

A transportation company wants to optimize its delivery routes to minimize fuel costs and delivery times. They have data on past delivery routes, traffic patterns, and vehicle capacities. Which type of analytics would recommend specific actions to optimize delivery routes, such as suggesting alternate routes based on real-time traffic data?

• Descriptive Analytics

• Diagnostic Analytics

• Predictive Analytics

• Prescriptive Analytics

Which phase of the CRISP-DM methodology involves understanding the project objectives, requirements, and constraints from a business perspective?

• Data Preparation

• Data Understanding

• Business Understanding

• Modeling

During which phase of the CRISP-DM methodology are data collected, formatted, cleaned, and transformed into a usable format for analysis?

• Data Preparation

• Data Understanding

• Modeling

• Evaluation