Business Analytics Foundations: Descriptive, Exploratory, and Explanatory Analytics

Course link: https://www.linkedin.com/learning/business-analytics-foundations-descriptive-exploratory-and-explanatory-analytics

Business Analytics Foundations Chapter Quiz 1

Question 1 of 4

Why would a business use analytics?

  • to determine the profitability of its past performance
  • to gain insights into issues that affected its past performance 🗸
  • to calculate measures of past performance

Question 2 of 4

You observe a rapid increase in sales over the last six months across all customer demographics. What would be your starting point in determining the reason for the increase?

  • Use explanatory analytics.
  • Use exploratory analytics. 🗸
  • Use descriptive analytics.

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Question 3 of 4

How does business analytics differ from data engineering and business intelligence?

  • It utilizes dashboards and exploratory analytics.
  • It involves integrating data sources and building data pipelines.
  • It incorporates statistical modeling and machine learning. 🗸

Question 4 of 4

What activities are solely part of business analytics?

  • integrating data sources
  • creating dashboards and reports
  • building statistical models 🗸

Business Analytics Foundations Chapter Quiz 2

Question 1 of 4

How does descriptive analytics work?

  • Users drive the views they want from the descriptive data they are interested in examining.
  • Predefined reports are bundled into software products, and users execute the reports to view them. 🗸
  • Summaries of data are exported in various formats, and then distributed to users by email or hard copies.

Question 2 of 4

When you are performing descriptive analytics, what is important to keep in mind about key metrics?

  • When you create your reports, you want to include as many metrics as possible.
  • You want everyone in your organization to receive information about the key metrics.
  • If you include too many metrics, you might unintentionally hide key trends. 🗸

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Question 3 of 4

Which scenario is an example of aggregation in descriptive analytics?

  • sales data by age group for April 2022 and July 2022, and the percentage change
  • sales data by age group, and total monthly sales for each age group 🗸
  • sales data by age group, segmented by adding different data columns
See also  Managing Teams 2018

Question 4 of 4

A salesperson approaches you with customized descriptive analytics software to replace the prepackaged software your small company is currently using. What should you consider in making a decision?

  • Custom software will be more expensive than what you need. 🗸
  • Your existing prepackaged software cannot be customized.
  • All the key metrics can only be captured with custom software.

Business Analytics Foundations Chapter Quiz 3

Question 1 of 4

Hakim is interested in determining the buying patterns for his company’s organic food products by age group. Which EDA technique will he use as his starting point?

  • segmentation 🗸
  • graphical tools
  • statistics

Question 2 of 4

How is a hypothesis involved in exploratory analytics?

  • It is a pattern discovered with exploratory analytics.
  • It is the goal when conducting explanatory analytics.
  • It is the starting point for exploratory analytics. 🗸

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Question 3 of 4

Of the various best practices in exploratory analytics, which should be first?

  • Have a specific problem you want to solve. 🗸
  • Leave your mind open for what you might find.
  • Proceed with a desired result in mind.

Question 4 of 4

When you are conducting exploratory analytics, why is it important that you know when to stop?

  • so you can take the reasons you have found in the data and present them to your managers
  • so you know when you have found all the relevant data that you can possibly find
  • so you do not continue exploring when there is no more relevant data to explore 🗸

Business Analytics Foundations Chapter Quiz 4

Question 1 of 5

Why should an analyst have better presentation skills when working with explanatory analytics than when working with the other types of analytics?

  • They must use charts and visuals when presenting the findings.
  • They must guide the audience into accepting the findings. 🗸
  • They must present findings orally in language that the audience understands.
See also  Introduction to Business Analytics (2020)

Question 2 of 5

Of the various best practices in a presentation of exploratory analytics findings, which should be first?

  • Understand the question being answered.
  • Know the audience, their backgrounds, and their skill levels. 🗸
  • Ensure that the presentation flows from the question to the answer.

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Question 3 of 5

The sales conversion rate for your online retail company dropped dramatically in September. Where should you hunt until you find something that appears to be the root cause?

  • in customer demographics
  • in product offerings
  • in multiple data segments 🗸

Question 4 of 5

As Iris presents her findings, a manager asks a question prompted by a fact in the data that is unrelated to the presentation. What should Iris do?

  • Set it aside and investigate the question in a separate project. 🗸
  • Stop the presentation, examine that data, and then finish at a later date.
  • Pivot from her presentation to address the new question.

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Question 5 of 5

How does explanatory analytics differ from exploratory analytics?

  • You try to find why something happened with explanatory analytics, versus finding what happened with exploratory analytics.
  • You try to find patterns with explanatory analytics, versus recommending actions with exploratory analytics.
  • You try to find a root cause with explanatory analytics, versus finding patterns with exploratory analytics. 🗸

Business Analytics Foundations FINAL EXAM

Question 1 of 10

Which type of data source is included in business analytics?

  • mobile
  • RDBMS
  • all of these answers 🗸
  • social media

Question 2 of 10

Which of the following is not a tool used during explanatory analytics?

  • presentation skills
  • statistical analysis 🗸
  • fishbone diagram
  • drill downs

Question 3 of 10

If you want to see how various business segments perform across different periods, what type of descriptive analytics should you use?

  • prepackaged reports
  • time range comparisons 🗸
  • aggregation
See also  Data Analytics for Business Professionals (2018)

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Question 4 of 10

ABC Co. offered an email discount to all its customers. It found that some sales conversion rates were lower than without the discounts. What action should ABC take as a result of the data?

  • Perform further analysis. 🗸
  • Profile its customers by demographics.
  • Discontinue the discounts program.

Question 5 of 10

Which items are graphical EDA tools? (find 3) A. pie charts

B. Venn diagrams

C. bar charts

D. scatter plots

E. wishbone diagrams

  • A, D, E
  • A, C, D 🗸
  • B, C, D
  • A, B, C

Question 6 of 10

You have sales data by customer age, geographic location, and marital status. What types of analytics can you perform?

  • exploratory analytics
  • descriptive analytics 🗸
  • explanatory analytics

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Question 7 of 10

Which of the following is not a best practice for Exploratory Data Analytics?

  • Don’t sidetrack based on findings.
  • Use standard reports. 🗸
  • Review results frequently.
  • Have a goal or problem to solve.

Question 8 of 10

Which activities are included in business analytics? (find 3) A. Creating sidetrack models

B. Building data pipelines

C. Building dashboards/reports

D. Statistical modeling

E. Compiling business recommendations

  • B, D, E
  • C, D, E 🗸
  • B, C, D
  • A, B, C

Question 9 of 10

What type of business analytics is intended to answer the question, “What happened?”

  • explanatory analytics
  • descriptive analytics 🗸
  • exploratory analytics

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Question 10 of 10

Too many reports and too many metrics will _____.

  • create more database load
  • improve usability of the reports
  • dilute the focus 🗸                                                              
  • not have any impact on business outcomes

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Business Analytics Foundations
Business Analytics Foundations Linkedin Learning answers

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