WorksheetsRetail Analytics & Business Performance Quiz II
Total questions: 40
Worksheet time: 20mins
What is the main objective of customer segmentation in business analytics?
Identifying and targeting key customer groups.
Determining brands to buy, quantities and allocations.
Ensuring the appropriate staffing levels and capabilities.
Determining the best sourcing and transportation options.
Which of the following statements about primary data collection is incorrect?
It is also known as raw data.
It is usually structured and easy to interpret.
It is collected directly from the original source.
Researchers are first to interact and draw conclusions from it.
Which of the following data collection methods involves the MOST interaction between the researcher and the participants?
Interview.
Closed ended questions.
Opened ended questions.
Observational and data collection.
What is the primary purpose of data cleaning?
Analysing data structure.
Mapping data for warehousing.
Removing irrelevant data from the dataset.
Converting data from one format to another.
What is ONE of the benefits resulting from having clean data?
Greater client frustration.
More challenges in monitoring errors.
Increase error rates in decision making.
More efficient business practices and quicker decision making decision.
Which characteristic of quality data refers to “the degree to which the data conforms to defined business rules or constraints”?
Validity.
Accuracy.
Consistency.
Completeness.
What is this method used to check data accuracy?
Excel sheet for data entry.
Repetitively analysing data.
Checking the data with another source.
Integrating the data with Python or SAS software.
What can be a cause of data inaccuracy?
Data decay.
Data standardisation.
Lack of manual data entry.
Well-caliberated equipment.
You need to interpret massive data collected for your business. In order for you to pitch your business to potential investors and you needs to
Collect raw data.
Present data to potential investors.
Help make sense of numerical data.
Code number before it can be analysed.
Which of the following is NOT a defining characteristics of norminal variable?
The median and mode can be analysed.
The numbers are used to categorise identify objects.
The numbers can be divided into 2 or more categories.
The numbers are exclusively qualitative with no use of numbers.
What is the purpose of the second step, "Develop your findings," in interpreting data?
To gather all relevant data.
To visually represent data in graphs or charts.
To observe data thoroughly and identify trends or patterns.
To recommend a line of actions or call for more research to be conducted.
What is the key consideration related to data confidentiality that you need to address if you are dealing with Customer Database?
Promoting the use of public information.
Ensuring data is widely shared and accessible.
Protecting data against unintentional, unlawful or unauthorised access.
Encouraging the exposure of information beyond its intended audience.
Which of the following is ONE of the guidelines recommended as part of managing data storage?
Manage data utilisation.
Acquire all sensitive data.
Dispose of data, device and paper record in recycling bins.
Secure devices from misuse or theft by storing them in cupboards.
Which of the following is NOT a tip for developing a logical folder structure?
Adhere to existing procedures.
Structure folders hierarchically.
Name folders after individual researchers.
Be consistent with the chosen naming scheme.
Which of the following is NOT an example of embedded documentation?
Code, field, and label descriptions.
Descriptive headers or summaries.
Final project reports and publications.
Record information in the Document Properties function of a file.
You want to conduct an analysis comparing the satisfaction levels of customers enrolled in the loyalty program with those who are not enrolled. What is this analysis called?
Text analysis.
Predictive analysis.
Inferential analysis.
Descriptive Analysis
Which of the following statement best describes a business dashboard?
A device installed in vehicles to display real-time traffic information.
A physical tool used in automobiles to monitor engine performance.
A tool used for data encryption and security management in businesses.
An information management tool used to track business KPIs and metrics.
Which of the following statements accurately distinguishes between a dashboard and a report?
Dashboard is static, while reports are interactive.
Dashboard has comprehensive datasets while report uses visuals.
Dashboard uses visual design, while a report has narrative passages.
Dashboard presents historial data while report uses charts and graphs.
Identify ONE key metrics that you should track on its operational dashboard to monitor real-time performance effectively.
Measure the company spending habits.
Monthly, quarterly, or yearly fiscal performance.
Website performance metrics like new users or bounce rate.
Understand the increase in daily active users over a period of time.
Which of the following is NOT an advantage of using a bar graph for data visualisation?
Can be easily understood.
Can be easily manipulated.
It helps to summarise a large dataset.
Estimation of key values can be made at a glance.
Which of the following options is NOT an example of such a business decision?
Predicting business risk.
Improving customers' waiting time in a queue.
Ensuring appropriate staffing levels and capabilities.
Determining the best locations for the ATMs in a mall.
In data collection strategy, what is the first step that you should take?
Collect the data.
Set a timeframe for data collection.
Determine her data collection method.
Determine what information she wants to collect.
Which ONE of the following statements best describes the difference between data cleaning and data transformation?
Data cleaning = securing sensitive information.
Data transformation = encrypting the dataset.
Data cleaning = aggregating multiple datasets.
Data transformation = standardising variable names.
Data cleaning = process of analysing data patterns.
Data transformation = visualising data through graphs and charts.
Data cleaning = removing inconsistencies.
Data transformation = converting data into a different format.
Explain ONE characteristic of a historical research.
It investigates past events to learn present patterns and anticipate future choices.
It looks at large subject matters and attempts to explain why a course of action progresses the way it did.
The information laces a sequence of events usually from one or two individuals to form a consistent story.
It looks at people in their cultural setting, their behaviour and words, interaction with one another and with their social and cultural environment.
Which ONE of the following options is an example of ordinal data?
Movie ratings – from poor to excellent.
Personal data – variables such as name, date of birth and gender.
IQ test – the level of an individual’s IQ will be determined by the
score.
Speed – the speed of the cars along an expressway between 7am
to 8am.
Identify ONE of the advantages of bar chart.
It can be easily understood.
It can be easily manipulated.
It may require additional explanation.
The estimations of the key values cannot be made at a glance.
In the context of data organisation, why should one include metadata?
To increase the file size.
To add context to the data.
To ensure that the data is more colourful.
To enhance the security measures of retrieving the data
This chart is an example of a
line chart with markers.
line chart for comparison.
stacked line chart with markers.
100% stacked line chart with markers.
Which one of the following options is NOT an example of catalogue data?
Affiliation.
Founder.
Keywords.
Title.
Dashboards are important because they simplify data analysis and distribution. One of the main advantages of dashboards is that
you would gain no time.
you avoid data overload.
you lose control of your processes.
you are able to reserve it for executive usage.
Which type of dashboard should you use to track Monthly KPIs?
Strategic Dashboard
Analytical Dashboard
Operational Dashboard
All the above
This data lacks
accuracy.
completeness.
consistency.
uniformity.
Which ONE of the following statements best describes accuracy in data measurement?
The ability of a system to reproduce output without any errors.
The closeness of the measured value to the standard or true value.
The process of drawing specific conclusions from a set of premises.
The degree of conformity to the true value in measuring instruments.
What does the blank center in the middle of this chart typically represent?
Average response rate.
Standard deviation of responses.
Additional, related data or statistics.
Total number of survey participants.
Which one of the following options does NOT adhere to the managing data storage guideline?
Users should authenticate their access with simple passwords and two-factor authentication.
Sensitive data, such as NRIC numbers, must be securely erased to ensure that it cannot be recovered or misused.
Paper documents containing sensitive information should be shredded rather than dumped into trash or recycling bins.
Devices that were used to store sensitive information should be destroyed or securely erased to ensure that their previous contents cannot be recovered and misused.
Which ONE of the following options is a type of data analysis?
Indicative analysis.
Repetitive analysis.
Normative analysis.
Diagnostic analysis.
Which of the following questions would NOT be a suitable question to be used in an inferential analysis?
Can flexible work arrangements improve job satisfaction?
Why is the sales for this month so low compared to other months?
What is the relationship between student attendance and academic performance?
Is there a significant difference in customer satisfaction between two different product versions?
Which ONE of the following options is an example of a data analysis tool?
KNINE.
POWER pi.
MonkeyLearn.
Microsoft Qlik.
Suggest a useful tip when designing a dashboard.
Vary the colour ratio to increase the visual appeal of the dashboard.
Decorative elements in his dashboard that do not communicate any data.
Design his dashboard with his audience in mind because an effective dashboard is one that communicates a clear message.
To include as much information as possible so that his Area Manager and Sales Executives would be able to understand everything.
Implementing business solutions after analysis does not always work because of several factors. Which ONE of the following options is an example of such factors?
Sufficient resources.
Motivated employees.
Resistance to change amongst junior staff.
Modifying organisational policies and develop trust.
