Exam 13: Data Analytics

At the cross-section of descriptive and diagnostic analytics, there lies a place where analysts create a whole picture. The two types of data analytics accomplish different objectives but can also work together to create better analyses. Which of the following is an appropriate suggestion for improving your ability to communicate what your data is saying using data visualizations?

Cynthia has been working at her current job for a little more than two years as a customer service representative. She has expressed interest in obtaining more job responsibilities and is seeking out ways that she could be promoted to a management role. She knows one thing she could do would be to assist with a new marketing campaign. If the campaign targets attracting new customers, then what would her best source of data be?

One of the areas where data analytics helps organizations with is Strategy Formation. Companies will typically spend significant time, energy, and resources in this area as they lay out plans for the future. What type of data analytics is best suited to help in this area, and why?

Jordan is an economics student entering their senior year of college, and they are compiling data about their time in school. Jordan requested their transcript and needs to determine the best way to present their academic data. If Jordan wishes to calculate the number of A-grade they received during their time in college, which formula function would be the most appropriate?

Companies that collect data from their users must do so with great care and consideration before proceeding. Failure to exercise due care can have strongly negative consequences for companies who neglect this responsibility. Which of the following is an example of a company who violated the privacy of its users?

As companies integrate data analytics and shift their focus towards the future, they will need to utilize predictive analytics. This kind of analytics uses both historical data and statistical models to predict future outcomes. If a company is interested in looking more closely at its sales department, then what is an appropriate question to answer using predictive analytics?

Alec is a manager for Baldwin Inc., and he is in charge of compiling data and producing analysis for various aspects of the business. Alec's most recent undertaking involves looking into what to expect in the upcoming year. Alec would like to focus on what their expected production volume may be for next year. Which type of analytics would Alec want to use, and what are some challenges and constraints to consider?

As data is gathered and collected, organizations must determine how to make the best use of this vast resource. When left in its raw state, this data might remain unusable but would continue to consume storage space at an exponential rate. Within the data, there exists both structured and unstructured data. Which of the following is an example of structured data?

Companies doing business in the modern era often look for ways to maximize the resources they have at their disposal. This can vary in the way it is executed and will look different from company to company. Which of the following represents an effective way for individual employees to add to their personal data analytics skillset?

Data analytics has been increasing in popularity as businesses realized these techniques provide unique insights that they would otherwise be unlikely to see. There are four main categories of data analytics each with its own benefits, complexities, and corresponding levels of insight provided to users. Which of the following is the most likely reason a company would choose to use predictive analytics?

Tara oversees materials acquisition for an HVAC company, and she has raised concerns about their year-to-year increases in direct materials cost, and they would like to use analytics to help determine why this happened. What question could Tara ask first to help her start the analysis?

Although the field of data analytics is not perfect, it contains useful tools for management. What are three challenges and three opportunities for the use of data analytics?

Dan is the Chief Information Officer for Humphrey Company, and he is reviewing security-related policies for the organization. Humphrey Company collects a wide array of data from its customers and understands the importance of it. Which of the following is an example of an inappropriate policy or practice in the context of the three principles of proper data usage?

Windows R Us is a nationwide producer and wholesaler of residential windows. They are analyzing some financial data from their most recent year and compiled the information in this table: Their accountant is putting together a presentation to demonstrate their performance during the year. Which single month showed the largest magnitude of change in Net Income (up or down)?

As new aspects of technology work their way into normal business practices, professionals in various fields must adjust. One of the largest adjustments requires learning new terminology in both large and small regards. Which of the following represents the difference between data analytics and big data?

Dan is the Chief Information Officer for Humphrey Company, and he is reviewing security-related policies for the organization. Humphrey Company collects a wide array of data from its employees and understands the importance of it. Which of the following is an example of an appropriate policy or practice based on the principles of proper data usage?

Rhoades Corp. is a law firm. They continue to bring on new associates because they continue to attract new clients and cases. Their accounting department compiled the following information for the three years they have been in operation: What is the percent change in service revenue from Year 1 to year 2?

Houz Inc. is a regional furniture manufacturer who specializes in new midcentury replicas at affordable prices. The management and decision makers at Houz gathered data from past years and are performing some analysis. If the company wants to address why their southern region recently experienced a decrease in customer orders, then what type of data analysis would be most appropriate for this, and why?

Carson is the marketing manager at a local travel publication. He is working with department heads to get some data to help him in his efforts to attract new clients and investigate aspects of their existing clientele. Why would Carson choose to use descriptive analytics?

Data analytics has four broad categories that range in value and complexity. Each of the four category types strives towards answering questions that assist decision makers in their efforts to gather relevant data. Which of the following is an example of a question answered by diagnostic data analytics?