Marketing Analytics Final Exam

Name 2 dimensions of data quality

Name 2 characteristics of big data

Identify a valid difference between descriptive analytics and predictive analytics

• Descriptive analytics uses data to explain the past, whereas predictive analytics uses data to explain the future.

• Descriptive analytics can identify patterns in data whereas predictive analytics can recognize objects from an image.

• Descriptive analytics predicts new needs and opportunities whereas predictive analysis reinforces existing beneficial practices.

• Descriptive analyticss mimics human-like intelligence, whereas predictive analytics identifies the best optimal decision.

In the SMART analytics principle, the letter "A" refers to an _______ goal-setting technique.

• accurate

• achiveable

• applicable

• acceptable

Which of the following types of data can be easily accessed and analyzed when using descriptive, predictive, and prescriptive data analytics techniques?

• categorical data

• unstructured data

• nominal data

• structured data

A marketing analyst at a gaming company is studying the effect of school holidays on sales of video games, In the study, what type of variable is school holidays?

• a target variable

• an outcome variable

• a dependent variable

• an independent variable

Which of the following statement is true about supervvised learning?

• The goal of supervised learning is to model underlying structure and distribution in the data.

• Supervised learning has no previously defined target variable

• In supervised learning, the target variable of interest is known.

• Supervised learning is used to discover and confirm patterns in the data.

In supervised learning, the training dataset is used to:

• evaluate the final selected algorithm and see how well it performs.

• assess how well the algorithm developed.

• build the algorithm and "learn" the relationship between the predictors and the target variable.

• select the model that most accurately predicts the target variable of interest

In supervised learning, whuch of the followig datasets is used for assesssing how well and algorithm estimates tje target variable?

• a validation dataset

• a training dataset

• an unlabeled dataset

• an independent dataset

____________ is a categorical variable with no meaningful order.

• ordinal

• ratio

• discrete

• nominal