Business Analytics Quiz

How does business analytics help in making data-driven decisions?

• By increasing subjective opinions

• By using historical data to guide decisions

• By replacing managerial decisions with algorithms

• By eliminating human intuition

Which of the following is NOT an advantage of real-world business analytics?

• Improved decision-making

• Enhanced competitive advantage

• Increased operational efficiency

• Reduced need for data collection

Which feature of Excel® is useful for performing correlation and regression analysis in business analytics?

• Analysis ToolPak

• Solver Add-in

• Power Query

• PivotTables

What is the main advantage of descriptive analytics?

• It summarises past data to identify patterns

• It automates data collection

• It optimises decision-making

• It predicts future trends

What are the 4 V of Big Data

• Value, Velocity, Variety, Vulnerability

• Variety, Viscosity, Velocity, Volatility

• Volume, Variety, Velocity, Veracity

• Volume, Value, Veracity, Velocity

Why is the MapReduce tool important in big data processing?

• It compresses large files for storage

• It visualises data trends

• It processes data using distributed computing

• It stores data in clusters

What is the primary benefit of marketing analytics?

• To increase customer satisfaction

• To optimise advertising spend

• To predict customer behaviour

• To reduce marketing budgets

Which of the following is a key advantage of web analytics?

• It automates customer service

• It helps in sales forecasting

• It analyses financial performance

• It tracks website performance and user behaviour

Which of the following is a numerical summary measure?

• Mode

• Skewness

• Median

• Outlier

How does predictive analytics benefit businesses?

• By forecasting future outcomes based on past data

• By providing historical data

• By eliminating human error in decision-making

• By reducing operational costs