Business Data Analytics Quiz - Module 1

What is the primary role of data in business decision-making?

• To increase business uncertainty

• To reduce business uncertainty

• To replace decisionmakers

• To create new problems

Which of the following is not a type of analytics method?

• Descriptive

• Diagnostic

• Randomized

• Prescriptive

Which analytics method explores why an outcome occurred?

• Descriptive

• Diagnostic

• Predictive

• Prescriptive

What does BDA stand for?

• Business Data Analytics

• Business Decision Analysis

• Basic Data Analysis

• Business Development Analysis

In the business data analytics cycle, what is the first step?

• Data collection

• Drawing conclusions

• Asking a well-formed research question

• Implementing changes

What is the primary focus of Business Data Analytics as a set of practices and technologies?

• To perform data validation

• To establish the framework required to execute analytics initiatives

• To analyze historical data only

• To eliminate stakeholder involvement

Business data analytics helps in:

• Increasing cognitive biases

• Reducing biases in decision-making

• Eliminating the need for data

• Making decisions based solely on intuition

Which perspective of Business Data Analytics involves a management philosophy of evidence-based problem-solving?

• Capability

• Movement

• Data-Centric Activity Set

• Decision-Making Paradigm

What is the precision metric measure in a binary classification problem?

• The number of true positives

• The number of false positives

• The accuracy of the entire model

• The proportion of true positive predictions out of all positive predictions

Which technique is used to understand the business problem by systematically examining probable causes?

• Business Model Canvas

• Concept Modeling

• Root Cause Analysis

• Process Modeling