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 🗸

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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

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.

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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 🗸

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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.

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. 🗸

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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

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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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