1.How is a hypothesis involved in exploratory analytics?
It is the starting point for exploratory analytics.
2. A salesperson approaches you with customized descriptive analytics software to replace the prepackaged software your small company is currently using. What should you consider in making a decision?
Custom software will be more expensive than what you need
3. Of the various best practices in a presentation of exploratory analytics findings, which should be first?
Know the audience, their backgrounds, and their skill levels.
4. Which scenario is an example of aggregation in descriptive analytics?
sales data by age group, and total monthly sales for each age group
5. As Iris presents her findings, a manager asks a question prompted by a fact in the data that is unrelated to the presentation. What should Iris do?
Set it aside and investigate the question in a separate project.
6. Hakim is interested in determining the buying patterns for his company’s organic food products by age group. Which EDA technique will he use as his starting point?
segmentation
7. How does business analytics differ from data engineering and business intelligence?
It incorporates statistical modeling and machine learning.
8. Why should an analyst have better presentation skills when working with explanatory analytics than when working with the other types of analytics?
They must guide the audience into accepting the findings
9. You observe a rapid increase in sales over the last six months across all customer demographics. What would be your starting point in determining the reason for the increase?
Use exploratory analytics.
10. Of the various best practices in exploratory analytics, which should be first?
Have a specific problem you want to solve.
11. Why would a business use analytics?
to gain insights into issues that affected its past performance
12. When you are conducting exploratory analytics, why is it important that you know when to stop?
so you do not continue exploring when there is no more relevant data to explore
13. How does descriptive analytics work?
Predefined reports are bundled into software products, and users execute the reports to view them
14. What activities are solely part of business analytics?
building statistical models
15. The sales conversion rate for your online retail company dropped dramatically in September. Where should you hunt until you find something that appears to be the root cause?
in multiple data segments
16. How does explanatory analytics differ from exploratory analytics?
You try to find a root cause with explanatory analytics, versus finding patterns with exploratory analytics
17. When you are performing descriptive analytics, what is important to keep in mind about key metrics?
If you include too many metrics, you might unintentionally hide key trends.
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