Introduction to Business Analytics (2020)

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Introduction to Business Analytics 2020 Chapter Quiz 1

Question 1 of 3
Which part of business analytics utilizes dashboards and optimization models?

• data governance
• data analysis
• data-based intuition
• data-informed decisions

Question 2 of 3

What is the limitation of data visualizations?

• The visualizations are not particularly valuable.
• They are not interactive.
• They are limited to the quality of the data you provide.
• The level of data is limited to the content on the screen.

Question 3 of 3

A soccer supply store notices its sales are increasing more than usual, and assumes there is an increased interest in youth soccer. Based on only the increased sales, which error is the store making?

• The store is overly data-informed.
• The store is relying on an unquantified variable.
• The store is overly data-driven.
• The store is falling into overfitting.

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Introduction to Business Analytics 2020 Chapter Quiz 2

Question 1 of 3
Which type of data is best tracked with a tool like Google Analytics?

• cost data
• marketing data
• psychographic data
• sales data

Question 2 of 3
Which aspect of data is a challenge and not an opportunity?

• impact
• imperfect data
• time relevance
• trends

Question 3 of 3
How do pivot charts in Excel provide a way to perform quality data analysis for someone who is not a data scientist?

• by offering custom chart colors and table calculations
• by providing charts and other visuals based on the underlying data
• by “pivoting” from the least important data to the most important
• by providing fields you can use to manipulate the data

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Introduction to Business Analytics 2020 Chapter Quiz 3

Question 1 of 2
What is key when you combine different data sources to get a bigger picture of your sales data?

• focusing your efforts on demographic data
• using a unique identifier
• creating a category identifier
• looking at sales by region

Question 2 of 2
Where will your data source contain mostly qualitative data?

• in psychographic data
• in cost data
• in sales data
• in marketing data

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Introduction to Business Analytics 2020 Chapter Quiz 4

Question 1 of 3
You have an exciting video on your company’s website. You add the number of hits on your video to a visual. Which best practice for visuals are you violating if you do this?

• Keep it simple.
• Use color sparingly.
• Use the right visualization to uncover the right trends.
• Focus on the most important metrics.

Question 2 of 3
Why is interactivity advantageous when creating dashboards?

• They allow users to drill down to see more detail regarding the data.
• They allow users to decide which visuals are displayed on the dashboard.
• They allow users to send real-time messages to the dashboard’s creator.
• They allow users to determine which KPIs they would like on their data.

Question 3 of 3
Which data quality issue is often caused by poor tracking?

• overfitted data
• data collection
• system integration
• missing data

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Introduction to Business Analytics 2020 Chapter Quiz 5

Question 1 of 3
Which type of cost is a fixed cost?

• salaries for your salespeople
• inventory in your warehouse
• fuel for your delivery vehicles
• lease payments for your warehouse

Question 2 of 3
Why is it vital to include external data in your sales and marketing strategy?

• It can help you determine which products to make and sell.
• It provides insights your internal data does not have.
• It can provide you with survey data from your customers.
• It can identify gaps in the market, which you can take advantage of.

Question 3 of 3
You run television commercials in the evening in your local area. If your sales data reveals that sales are coming primarily from males in the age group of 35 to 55, how should you use this data?

• Start running commercials in other cities.
• Start running additional commercials in the afternoon and morning time slots.
• Move your commercials to air during shows that are popular with younger females.
• Focus your other sales efforts on this demographic.

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Introduction to Business Analytics 2020 Chapter Quiz 6

Question 1 of 4
You start running three different TV commercials in three different time slots, with a special phone-in offer. How can you determine which commercial brings in the most sales?

• Use Google Analytics to gather your data.
• Use a different promo code for each commercial.
• Survey your customers as to their preferred TV viewing time slot.
• Track the cost per commercial against sales.

Question 2 of 4
What is the first step you need to take when working with psychographic data?

• Identify the key features of your ideal customer.
• Gather information about your customers’ feelings and beliefs.
• Obtain and review feedback from your customers.
• Identify the key features in your product or service.

Question 3 of 4
Of the what, where, when, and who questions, which one has the most impact on your company’s supply chain?

• when
• where
• who
• what

Question 4 of 4
Professionals agree it is easier to resell to an existing customer than to find a new customer. Which sales tracking tool will most help you identify existing customers who will buy from you again?

• Google Forms
• Google Analytics
• CRM tools, such as Salesforce
• credit card transaction data

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Introduction to Business Analytics 2020 FINAL EXAM

Question 1 of 14
In which phase of analytics will you create an optimization model?

• Predictive phase
• Data Gathering phase
• Prescriptive phase
• Descriptive phase

Question 2 of 14
How can you best describe a data silo?

• A data silo is a storehouse of data available to anyone in the organization.
• A data silo consists of data sources that are not shared between departments.
• A data silo is considered a data hierarchy, with the most important data at the top.
• A data silo is the warehouse of an organization’s data.

Question 3 of 14
How do you most effectively gather psychographic data?

• with marketing data
• with feedback forms
• with sales data
• with surveys

These are Introduction to Business Analytics 2020 Final Exam Answers

Question 4 of 14
How can you most effectively work though all your organization’s data without becoming overwhelmed by the amount of data?

• Focus on high-level numbers.
• Focus on the tools you are using.
• Focus on key performance indicators (KPI).
• Focus on the data points most relevant to your organization.

Question 5 of 14
What is the goal of business analytics?

• gathering necessary data
• sharing data
• gaining insights from data
• storing the most valuable data

Question 6 of 14
You run two email marketing campaigns simultaneously. The marketing data shows one campaign is leading to high sales, and the other to no sales at all. Which component of marketing effort is utilized?

• market channels
• market targeting
• market messaging
• market segmentation

These are Introduction to Business Analytics 2020 Final Exam Answers

Question 7 of 14
What is the primary purpose of lead generation data?

• to identify interest of potential customers
• to track which landing pages are converting
• to help you maximize the return on your investment
• to show you where your message is getting traction

Question 8 of 14
What is the primary purpose of the SUM function in Excel?

• averaging
• aggregating
• converting percentages to decimals
• totaling

Question 9 of 14
Why is a marketing cost considered a fixed cost?

• A marketing cost is deemed a fixed cost for income tax reporting.
• You can fix your marketing costs if they become too high.
• You have to invest in marketing before you start generating sales.
• Once you have a track record of sales, marketing costs can be fixed at that level.

These are Introduction to Business Analytics 2020 Final Exam Answers

Question 10 of 14
Your company is considering expanding into a highly competitive market. Which data-use strategy will most likely make your move successful, with success defined as an increase in revenue and margin?

• using internal cost data and internal sales data to determine the lowest price you can offer in the new market
• using internal cost data and external market data to determine the most advantageous selling price in the new market
• using external market data and external sales data to determine where the most customers are in the new market
• using internal historical sales data and external market data to determine how much you will sell in the new market

Question 11 of 14
What is the determining factor in the type of tool a business uses to track costs?

• the age of the business
• the type of costs the business wants to track
• the average cost per sale
• the size of the business

Question 12 of 14
If you are interested in creating social proof, which tool should you use?

• an embedded review section on your website
• an interactive dashboard of survey data
• a paid service, such as Qualtrics
• Google Forms and Google Sheets

These are Introduction to Business Analytics 2020 Final Exam Answers

Question 13 of 14
How do some large organizations avoid the problems associated with data silos?

• by having a data center of responsiveness
• by having a data center of sharing
• by having a data center of excellence
• by having a data center of communication

Question 14 of 14
You create relational databases in _.

• SQL
• Excel
• QuickBooks
• Tableau

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Introduction to Business Analytics 2020

Introduction to Business Analytics 2020 Linkedin Learning Answers

Introduction to Business Analytics 2020 Linkedin Learning Answers