Retail Analytics & Business Performance

Which one of the following is NOT one of the phases in problem solving with analytics?

• Analysing a problem

• Designing a problem

• Structuring a problem

• Recognising a problem

Answer explanation

Page 10

Which one of the following data collection methods allow bias into the research which will affect the quality of the data?

• Interviews

• Focus group

• Observational data collection

• Opened ended survey questions

Answer explanation

Page 19

Which one of the following is NOT part of the 5 steps data collection strategy?

• Collect the data

• Start by formulating a plan

• Determine your data collection method

• Determine what information you want to collect

Answer explanation

Page 21

Which one of the following is an advantage of data cleaning?

• Fix non-structural errors

• Handle non-duplicated data

• Filter duplicated and wanted outliers

• More efficient business practices and quicker decision making

Answer explanation

Page 28

Determining the quality of data requires an examination of its characteristics, hence the degree to which your data conforms to defined business rules or constraint is called

• validity

• accuracy

• consistency

• completeness

Answer explanation

Page 31

Which one of the following is a tip to improve data accuracy?

• Pressurise the data entry team every month end.

• To improve the quality of data, use only one data source.

• The company do not need to set an objective for data quality.

• Do a data quality audit from time to time to find a prevalent issue like duplicate.

Answer explanation

Page 35

Identify the TWO data interpretation methods.

• Nominal and Ordinal.

• Discrete and Continuous.

• Categorical and Numerical.

• Quantitative and Qualitative.

Answer explanation

Page 43

Which one of the following is a qualitative research method?

• Grade research

• Narrative research

• Cognitive research

• Background research

Answer explanation

Page 44

Which quantitative data interpretation method is used to measure a numerical average for a set of data and is calculated by dividing the sum of values by the number of values in a dataset?

• Mean

• Median

• Standard deviation

• Frequency distribution

Answer explanation

Page 46

Which one of the following is an effective measure for managing data confidentiality?

• To whom data can be disclosed.

• Storing data in unencrypted databases.

• Sharing sensitive data without confidentiality agreements.

• Disclosing sensitive information to unauthorised individuals.

Answer explanation

Page 74