Business Analytics Quiz1

During a strategy session, Alisha analyzed the results of their recent marketing efforts. She emphasized the importance of using these results to forecast future trends and behaviors. What type of analytics is Alisha discussing?

• Descriptive Analytics

• Predictive Analytics

• Prescriptive Analytics

• Diagnostic Analytics

A subscription service is looking to analyze user behavior to minimize cancellations and identify effective retention strategies. Which types of analytics would be most beneficial for them?

• Descriptive and Predictive

• Predictive and Prescriptive

• Only Descriptive

• Descriptive and Prescriptive

During her research, Tisha encounters various forms of data. Which of the following represents structured data?

• Images stored in a folder

• Product listings in an online store

• Social media posts

• Emails in an inbox

Which of the following is NOT typically considered a phase in the Data Analysis Process?

• Data Exploration

• Data Preparation

• Data Interpretation

• Data Storage

What is a significant ethical issue that arises in the field of Business Analytics?

• Data Accuracy

• Data Security

• Market Analysis

• Data Visualization

What is the primary purpose of implementing data governance in an organization?

• To enhance data visualization techniques

• To ensure compliance with data regulations

• To reduce data storage costs

• To automate data entry processes

Tarun wants to enhance his online store's customer engagement. Which of the following is an example of predictive analytics that he could implement to achieve this?

• Analyzing customer feedback trends

• Determining the best time to launch a marketing campaign

• Calculating the average order value

• Reviewing past customer purchase history

Which of the following best describes a structured data source?

• A collection of emails

• A set of XML files

• A relational database

• A folder containing images

During a finance class, Shaan presented a case study on how companies use data to make informed decisions. He asked his classmates, "Which of the following is an example of business analytics in the finance sector?"

• Optimizing marketing campaigns

• Predicting stock market trends

• Reducing employee turnover

• Increasing customer engagement on social media

What is a significant benefit of utilizing business analytics in supply chain management?

• Cost reduction

• Market analysis

• Employee satisfaction

• Sales forecasting