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Business Analytics Final Exam questions & answers.
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Business Analytics Final Examquestions & answers.
T or F: Business Intelligence is a subset of Business Analytics ANS - false
T or F: Today, business analytics are data driven rather than business driven. ANS - false
T or F: Analytics can help a company hire, retain, and promote the best people. ANS - true
T or F: According to some experts, analytics has become important for companies these days because
many products are becoming commodities and there is minimal differentiation in products and services.
ANS - true
T or F: The four basic building blocks of business analytics are technology, data, process, and people.
ANS - True
All of the following is correct except one when describing the present day analytics. ANS - data driven
Insight provides the following benefit except:
Help us understand cause and effect
Helps us understand and solve problems
Tells us what happened in the past
Provides us foresight ANS - Tells us what happened in the past
WNBA scouts research UA basketball star Rachel Tecca's college scoring history to estimate how much
they would blow away other teams if she signed with them. This is an example of ANS - predictive
analysis
, These are the reasons why companies use analytics except:
Geographic advantages does not exist anymore
Getting difficult to differentiate based on products, services, or use of IT among companies today
Government regulations protect companies
Proprietary technologies are copied ANS - Government regulations protect companies
Which data asset is an example of unstructured data? ANS - news article text
T or F: The CRISP-DM process model aims to make large data mining projects, less costly, more reliable,
more repeatable, more manageable, and faster. ANS - true
T or F: A model's accuracy rate on the training data set is a better measure of the model's predictive
ability than its accuracy rate on the validation set. ANS - false
T or F: CRISP-DM is a statistical analysis for testing a hypothesis. ANS - false
T or F: Data mining is a complex process requiring various tools and different people. ANS - true
T or F: Data mining should be viewed as a process. ANS - true
The following business question- What factors influence customers to churn? - can be answered by
building a ____________ DM model. ANS - classification
Managers want to know by next week whether deployment will take place. Therefore, analysts meet to
discuss how useful and accurate their model is. Identify the CRISP-DM phase for this task. ANS - Phase 5
Data has been collected on visitor's viewing habits at a bank's website. Which technique is used to
identify pages commonly viewed during the same visit to the website? ANS - association
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