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WorksheetsBusiness Analytics - Chapter 1
Total questions: 20
Worksheet time: 20mins
Which of the following best defines Business Analytics?
The process of storing business data in databases
The use of data analysis, statistical models, and predictive methods to aid decision-making
A method of collecting customer feedback
The application of intuition and experience in business decision-making
Which of the following is NOT a type of Business Analytics?
Descriptive Analytics
Diagnostic Analytics
Predictive Analytics
Transactional Analytics
What is the primary purpose of descriptive analytics?
To forecast future trends
To summarize past data and identify patterns
To determine the root cause of past events
To recommend actions based on predictions
Which of the following best describes structured data?
Data organized in tables, such as databases and spreadsheets
Unformatted data, including emails and social media posts
A mix of structured and unstructured data
Data stored in image and video formats
Which type of analytics answers the question, “Why did this happen?”
Descriptive Analytics
Diagnostic Analytics
Predictive Analytics
Prescriptive Analytics
Which of the following is an example of a strategic decision in business?
Adjusting inventory levels for seasonal demand
Deciding to launch a new product line
Scheduling employee shifts for next week
Resolving a customer complaint
What is the main goal of prescriptive analytics?
To describe what has happened
To analyze why something happened
To predict what might happen
To recommend the best course of action
What type of data includes customer purchase history, sales records, and payment transactions?
Time-Series Data
Geospatial Data
Transactional Data
Metadata
Which of the following is an example of geospatial data?
Customer feedback on a survey
A company’s profit and loss statement
GPS coordinates of a delivery truck
A company’s employee records
Predictive analytics can determine the best course of action for a business based on data insights.
True
False
Semi-structured data contains elements of both structured and unstructured data.
True
False
Time-series data is collected over a period of time and analyzed to identify trends and patterns.
True
False
Tactical decisions focus on daily operations and short-term problem-solving.
True
False
Metadata provides additional context and information about other data.
True
False
A bank wants to determine the best loan interest rates for customers by analyzing past repayment behaviors and market conditions. Which type of analytics should they use?
Descriptive Analytics
Diagnostic Analytics
Predictive Analytics
Prescriptive Analytics
A retail company notices a decline in sales for a particular product line over the past three months. Which type of analytics should they use to understand the reason behind this decline?
Descriptive Analytics
Diagnostic Analytics
Predictive Analytics
Prescriptive Analytics
A logistics company wants to forecast delivery demand for the next six months to optimize fleet management. Which type of analytics should they use?
Descriptive Analytics
Diagnostic Analytics
Predictive Analytics
Prescriptive Analytics
A marketing team reviews last year’s campaign performance to identify patterns in customer engagement. Which type of analytics are they using?
Descriptive Analytics
Diagnostic Analytics
Predictive Analytics
Prescriptive Analytics
A hospital wants to analyze patient records to identify risk factors for a particular disease and prevent future outbreaks. Which type of analytics is most appropriate?
Descriptive Analytics
Diagnostic Analytics
Predictive Analytics
Prescriptive Analytics
Machine learning and statistical modeling are commonly used in predictive analytics.
True
False
