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WorksheetsReview Exam
Total questions: 95
Worksheet time: 2hrs 35mins
What is the role of business analytics in decision-making processes?
Business analytics creates obstacles for decision-making processes.
Business analytics only provides irrelevant information for decision-making processes.
Business analytics has no impact on decision-making processes.
Business analytics provides insights and support for decision-making processes.
How can businesses use predictive analytics to improve their operations?
By relying solely on intuition and gut feeling
By ignoring historical data and focusing only on current trends
By analyzing historical data to make predictions about future trends, customer behavior, and market changes.
By randomly guessing future trends without any data analysis
Give an example of how descriptive analytics can be applied in a business setting.
Conducting a survey to measure employee satisfaction
Interviewing potential customers to gather feedback on a new product
Analyzing sales data to identify trends and patterns in customer purchasing behavior.
Reviewing financial statements to calculate profit margins
Explain the concept of prescriptive analytics and its application in business.
Prescriptive analytics is not applicable in business decision-making
Prescriptive analytics involves using data and algorithms to recommend actions that will optimize business outcomes.
Prescriptive analytics only uses historical data to make recommendations
Prescriptive analytics is a type of descriptive analytics
What are the key benefits of using business analytics in marketing strategies?
Decreased return on investment, limited decision making, and generic marketing campaigns.
Better understanding of customer behavior, improved decision making, targeted marketing campaigns, and increased return on investment.
Limited understanding of customer behavior, decreased return on investment, and random marketing campaigns.
No impact on customer behavior, decreased return on investment, and limited decision making.
Discuss the importance of data visualization in business analytics.
Data visualization is only useful for marketing purposes and not for making informed decisions.
Business analytics can be done effectively without the need for data visualization.
Data visualization in business analytics is important because it helps in understanding complex data, identifying patterns and trends, making informed decisions, and communicating insights effectively.
Data visualization in business analytics is not important as it only adds unnecessary complexity.
How can businesses use business analytics to identify and mitigate risks?
By identifying patterns, trends, and anomalies in their data to anticipate and mitigate potential risks.
By outsourcing the analysis of data to a third-party company to identify and mitigate risks.
By ignoring data and relying on intuition to identify and mitigate risks.
By randomly selecting data points and making decisions based on them to identify and mitigate risks.
Explain the concept of customer segmentation and its relevance in business analytics.
Customer segmentation is the process of dividing customers into groups based on their favorite color
Customer segmentation is irrelevant in business analytics
Customer segmentation is only used for small businesses
Customer segmentation is the process of dividing customers into groups based on characteristics such as demographics, behavior, or needs. It is relevant in business analytics as it helps businesses understand their customers better, target specific groups with tailored marketing strategies, and improve overall customer satisfaction and retention.
What are the ethical considerations that businesses need to keep in mind when applying business analytics?
Ethical implications, privacy, and security
Profit maximization, cost reduction, and market share
Employee satisfaction, customer loyalty, and brand reputation
Regulatory compliance, financial reporting, and risk management
Discuss the challenges that businesses may face in implementing business analytics solutions.
No need for integration with existing systems
Unlimited budget for implementation
Some challenges businesses may face in implementing business analytics solutions include data quality issues, lack of skilled personnel, resistance to change, and integration with existing systems.
Lack of interest in data analysis
Business analytics results in which of these?
Evidence Based Decisions
Data Driven Decisions
Better DecisionsAll of these are correct
All of these are correct
What statement below best describes why we do data analytics in business
a. Analytics improve our understanding of how the business works
b. We must show a return on the investment we make in data & analytical resources
c. We need specific insights to make business decisions
d. We have to calculate & report financial results to owners / shareholders
Areas of Analytics
a. Visualization
b. Test Analytics
c. Forecasting
d. Volume
Ares of Analytics
a. Data Mining
b. Statistics
c. Big Data
d. Optimization
Challenges of Business Analytics
a. Analytical Process
b. Environment
c. Competition
d. Customers
Business Analytics (BA) is a broad category of application programs which includes
Decision support
Data mining
OLAP
All of the mentioned
The first step in the business analytic process is
a. Determine the needs of the business
b. Collect the data
c. Predict the outcome
d. Analyze the data
Challenges of Business Analytics
a. Analytical Process
b. Environment
c. Competition
d. Customers
What is data that is grouped in evenly distributed values and measured based on the group to which the variable is attributed
a. Data
b. Nominal Data
c. Ordinal Data
d. Interval measurement
Indicate which level of measurement is being used in the given scenario. A car magazine lists the most expensive cars for 2017
a. nominal
b.ordinal
c.Interval
d.Ratio
Indicate which level of measurement is being used in the given scenario. The roster of a basketball team lists the jersey numbers for each of the players.
Nominal
Ordinal
Interval
Ratio
Is the following qualitative or quantitative data? Favorite foods of statistics class.
a. Qualitative
b. Quantitative
Ages of students in a statistics class
Nominal
Ordinal
Interval
Ratio
A qualitative variable
A.Always refers to a sample
B. Is not numeric
C.Has only two possible outcomes
D.All of the above
Indicate which level of measurement is being used in the given scenario. A meteorologist compiles a list of temperatures in degrees Celsius for the month of May.
a.nominal
b. ordinal
c. ratio
d. Interval
Determine the level of measurement. Weight of walleye caught on Lake Erie
Nominal
Ordinal
Interval
Ratio
Birth order
Nominal
Ordinal
Interval
Ratio
Ideal Volume
Nominal
Ordinal
Interval
Ratio
A qualitative variable
Always refers to a sample
Is not numeric
Has only two possible outcomes
All of the above are correct
Data consists of numbers representing counts or measurements
Mathematical data
Categorical data
Quantitative Data
Population data
Big data Analytics is done with
Hadoop
Conventional Method
Using your machine
None of Above
What is data
Information
facts and statistics collected together for reference or analysis
processed collection of content
all of the above
Business Intelligence has replaced Business Analytics
True
False
Which is not one of the 4 v's of Big Data
Velocity
variety
volume
Volatile
which of the following is true about Big Data
is a field that treats ways to analyze, systematically extract information from, or otherwise deal with data sets that are too large or complex to be dealt with by traditional data processing application software.
include capturing data, data storage, data analysis, search, sharing, transfer, visualization, querying, updating, information privacy and data source.
described as a large volume of data, both structured and unstructured.
All of these
Which characteristic of Big Data will the below problem have?
Clustering cars into a tree structure based on the data given about each car.Please note that while classifying the cars you have to compare each car against the rest.
Volume
variety
Velocity
None
The recommendations generation of an e-commerce global leader on huge data as well as real-time data represent which characteristic of Big Data?
Velocity - since we might have to generate the recommendations in real time
Volume - since we will have to record the behaviour of many users
Variety - since computation of recommendations is complex and might require processing data in various forms
All of the above
Structured Data Requires Less Storage. True Or false
True
False
Cant Say
--------- helps to find a numerical value expressing the relationship between variables
Regression
Correlation
Random variable
z-value
The value of the coefficient of correlation lies between
0 to 1
0 to -1
-1 to 1
1 to -1
In regression analysis, the variable that is being predicted is the
Dependent variable
Independent variable
Intervening variable
None of the above
The scientific process of transforming data into insights for the purpose of making better decisions refers to ....
Business Intelligence
Data Warehousing
Cloud Computing
Business Analytics
Internet of Things
Creating a model which can predict the user's future intention can be considered as an example of?
Descriptive Analytics
Predictive Analytics
Prescriptive Analytics
Diagnostic Analytics
Analytics is used in
Human Resourse
Finance
Operations management
All of Above
Which of the following activities is LEAST likely to be found in the majority of present-day human resource departments?
Compensation
Risk management
Recruitment
Employee relations
Human resources is not the ultimate decider of whether an individual is discharged.
True
False
What of the following is a reason why an employee candidate selects a company?
A)
B)
C)
E)
Company culture
Career progression after hire
Benefits
D) All of these are correct.
None of these is correct.
The benefits of providing job candidates a realistic job preview include a genuine understanding of which of the following?
Role(s) that will be performed
Daily activities of the job
Requirements of the position
Significant understanding of the position
E) All of these are correct.
Human resources decisions need to be strategic because of:
increasing competition among HSOs.
the need to analyze jobs.
trends in using incentive compensation.
All of these are correct.
The highest percentage growth in forecasted health occupations employment by 2022 is for which of the following occupations?
Physician assistants
Registered nurses
Physicians and surgeons
Medical and health services managers
The National Labor Relations Board provides guidance for HR in addressing:
unions and collective bargaining.
employee retirement plans.
recruitment.
equal opportunity regulations.
Best practices of high-performing organizations include all of the following focal areas, except:
staff engagement.
staff acquisition and development.
employee empowerment in decision making.
highest levels of compensation for staff.
All of these are examples of best practices.
Predictive analytics or human resource analytics are used by human resources managers to identify:
employee needs.
factors that affect staff retention.
employee satisfaction levels and issues affecting satisfaction.
actual instances of staff engagement in addition to perceptions of staff engagement.
All of these are correct.
It is legal for an HSO to pay a woman less than a man for the same work if she married and her spouse works, too, because she does not really need the money.
True
False
Which one among the following is not part of the 4 V’s of Data?
Volume
Variety
Velocity
Vagueness
Which among the following is key to robust analysis?
Sufficient Sample
Bench marking
Diving Deep
All of the above
Which tool is most commonly used by Analysts across the world for Video Analysis?
Sports Code
Sports Always
Longo Match
All of the above
Who pioneered Sports Analytics or the first to use data to make strategic decisions?
Micheal Lewis
Billy Beane
Shane Thomson
Jose Mourinho
Which of the following statements is an example of analytics?
Sachin Tendulkar holds the record for the most runs in Tests
Lewis Hamilton has the most Formula Race wins with 95
Roger Federer wins 33% of the points from the net through a forehand volley
Lebron James has won 4 NBA titles
Which of the following is not a stage in the Data Life-cycle?
Data Collection
Data Analysis and Reporting
Data Visualization
None of the above
Which of the following is a data type?
Primary
Structured
Unstructured
Both B and C
Which of the following is not an example of unstructured data?
Social Media
Surveys
Emails
CRM
Which of the following is not an example of a derived KPI?
Balls/ Boundary
Required Run Rate
Corners Taken
Successful Penalties taken
Which of the following is not a type of analytics?
Prescriptive
Diagnostic
Predictive
Qualitative
How can we track data in a game
Apps; someone will track an individual
Video; the game is reviewed and individual stats are tracked
Fitness wear; a fitness watch or HR monitor
Follow a player during a game and make notes
What is the point in collecting data in sport?
It is interesting and people enjoy knowing facts
It can help teams and individuals improve
It can give an opponent an advantage
My strengths are in
Being the captain of the team (leadership)
Being a player
Theory, data, analytics
Coaching
What is 'Sports Analytics'?
the use of data and advanced statistics to measure performance and make informed decisions, in order to gain a competitive sports advantage.
Goals, marks, kicks, touches
someone who watches a lot of sports and knows a lot about plays and data
unsure
What is data
Information
facts and statistics collected together for reference or analysis
processed collection of content
all of the above
Sources of collection of data
Public
Internal
External
Software
All of the above
What statement below best describes why we do data analytics in business?
Analytics improve our understanding of how the business works
We must show a return on the investment we make in data & analytical resources
We need specific insights to make business decisions
We have to calculate & report financial results to owners / shareholders
Business Analysis and Business Analytics are the terms that can be used synonymously
True
False
Tools for Business Analytics
Python
Excel
R Programming
Hadoop
Decision making is the process of
choosing the best from available alternatives
going with the opinion of the majority
both of these
none of these
Business Intelligence has replaced Business Analytics
True
False
Business Analytics can aid in efficient decision making because
various tools are used
a proper evaluation is done with required analysis
it is emerging
mangers like to use new terminology
V's of Big Data
Volume
Veracity
Velocity
Validatory
Business analytics is interdisciplinary involving
Mathematics
Statistics
Computers
Psychology
The fifth phase in Customer Life Cycle
Acquisition
Defection
Reach
Conversion
Graduation of acquired customer to actual customers is called
Acquisition
Defection
Reach
Conversion
It is a logistic system used to determine the location of goods or services from the point of origin to its ultimate destination.
delivery cycle
turnaround time
lead time
track and trace
This is a characteristic of the supply chain where the product or services has reconfigurable supply networks, online or digital statement of accounts, virtual tools used.
scalable
connected
quality
responsive
Which supply chain strategy focus on various forms such as volume, variety and customization of products and services
sustainability
flexibility
cost
quality
It consists of the different departments such as finance, planning, legal, quality management, etc. to monitor the business environment
Procurement
Technology development
Support Services
Firm Infrastructure
This model shows the profit-generating activities of the organization
stakeholder model
value chain
SCOR model
supply chain
1.__________ is the process of analyzing the behavior of visitors to a website.
Web analytics
Google analytics
Analysis
None of these
2.__________ collected through web analytics may include traffic sources, referring sites, page views, paths taken and conversion rates.
Information
Data
File
None of these
3._________ is the first step in the web analytics process is for businesses to determine goals and the end results they are trying to achieve.
Setting goal
Collection of data
Report
None of these
4.________ is a quantifiable measure to monitor and analyze user behavior on a website.
KPI
API
A/B test
None of these
5.Log file analysis, also known as _______
Log management
Time management
Space management
None of these
6. The data is collected through _______and platforms
Analytic tool
Google tool
Data tool
None of these
7.______ indicates don’t collect or report on analytics data
Ignore
Basic
Intermediate
Elite
8.traditional analytics tools was, the most reported answer across any level of _________
Maturity
Maintain
Level
None
9. _______ metrics represent value per session, revenue/AOV, leads generated
Revenue
Conversion
On page
Traffic
10.The primary role of data analyst/business analyst is compilation and __________ analysis.
Qualitative
Quantitative
Both a and b
None of these
