Practice Quiz - Lesson 1

Which of the following IS NOT a critical challenge faced by businesses today.

• Competition and market saturation

• Consumer Behavior Changes

• Organizational Alignment

• Economic Uncertainty

• Digital Transformation and Technology Disruption

Which of the following IS NOT type of Data Analytic?

• Descriptive Analytic

• Preventive Analytics

• Diagnostic Analytic

• Prescriptive Analytic

• Predictive Analytic

Which of the following best fits the description for Data Analytic?

• Process of collecting and processing data.

• Process of collecting, processing, and analyzing data.

• Process of discovering patterns and trends.

• Process of collecting, processing, cleaning, and analyzing data to discover trends and patterns.

• Process of collecting, and analyzing data to discover trends and patterns.

1. What is the primary advantage of agility in businesses when dealing with Big Data?

• Faster processing of data

• Ability to quickly adapt to market changes

• Increased storage capacity

• Improved employee satisfaction

Which of the following best describes how Big Data contributes to business agility?

• It reduces the need for human decision-making.

• It allows businesses to react in real-time to changing conditions.

• It minimizes the volume of data that needs to be analyzed.

• It eliminates the risk of business failure.

How can Big Data analytics help businesses in making more agile decisions?

• By storing data in the cloud.

• By focusing solely on internal company data.

• By predicting future trends based on historical data.

• By reducing the amount of data available.

What is the difference between insights and foresights in the context of Big Data?

• Insights focus on understanding past data, while foresights predict future trends.

• Insights are purely theoretical, while foresights are data-driven.

• Insights are used for immediate decisions, while foresights are used for long-term strategie

• Insights focus on external data, while foresights focus on internal data.

How can businesses use foresights derived from Big Data to gain a competitive advantage?

• By replicating competitors' strategies.

• By reducing the amount of data analyzed.

• By anticipating market shifts and preparing accordingly.

• By ignoring past trends and focusing solely on future possibilities.