Data Science: Financial Wellness Quiz

What do you need to write to create an automated process?

• A correlation

• A customer segmentation

• An algorithm

• An A/B test

In process improvement, an algorithm is commonly used to create _________.

• an automated process

• a manual workflow

• a static report

• a random sequence

Which is an example of an automated process?

• When sentiment analysis tells you what customers think of a new service.

• When a data analyst uses data mining.

• When a data analyst reviews A/B testing results.

• When a program sends messages to specific customers based on data.

A financial institution wants to do A/B testing, with messages about linking checking and savings accounts. If their A group is customers who have both a checking and savings account, what should be their B group?

• Former customers of the institution.

• Customers who have high transactions.

• Customers who have only checking or savings.

• Customers who have more money in checking than savings.

A financial institution did A/B testing, sending messages advertising a new type of savings account. Group A were customers who had few transactions per month. Group B had many transactions per month. What are they trying to learn?

• Whether customers with more savings are more likely to use the new type of savings account.

• Whether customers who make more transactions each month are more likely to use the new type of savings account.

• Whether customers who use a new type of savings account are more likely to have more savings.

• Whether customers who use a new type of savings account are more likely to make more transactions each month.

Tags

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CCSS.HSS.MD.B.7

A financial institution sent messages about strong financial habits to two groups. Group A received the messages via email on a weekday morning. Group B received the messages via the bank's app when they signed in. What was the institution trying to determine with their A/B testing?

• The best method to reach their customers about financial habits.

• How many customers already had good financial habits.

• Whether a customer who used a banking app was likely to have strong financial habits.

• How many customers use email.

How can sentiment analysis be used to improve customer experience?

• By identifying customer emotions and feedback

• By increasing product prices

• By reducing customer service hours

• By ignoring customer complaints

It can provide qualitative data about customers' preferences.

• It can provide qualitative data about customers' preferences.

• It can provide quantitative data about customers' preferences.

• It can help automate processes for customers.

• It can provide correlations between customers and types of products used.

What method can provide qualitative data about customers' experiences to help an organization improve?

• Data mining

• Customer segmentation

• Correlation

• Sentiment analysis

What kind of data can an institution gather from sentiment analysis to improve customer experience?

• Quantitative data

• Qualitative data

• Data mining

• Correlations