Question 1

Which of the following types of data can be easily accessed and analyzed when using descriptive, predictive, and prescriptive data analytics techniques?

Accepted Answer

A)   structured data
B)   unstructured data
C)   nominal data
D)   categorical data

Question 2

In the context of modeling types, supervised learning is referred to as prediction when the

Accepted Answer

A)   target variable is continuous.
B)   historical dataset is continuous.
C)   historical dataset is categorical.
D)   target variable is categorical.

Question 3

In supervised learning, the validation dataset is used to "learn" the relationship between the predictors and the target variable.

Accepted Answer

A) True 
 B)False

Question 4

Which of the following offers the ability to answer the question "What should happen?" in marketing analytics?

Accepted Answer

A)   data query
B)   text recognition
C)   forecasting
D)   image recognition

Question 5

Which of the following is most helpful for a business designing a future statistics collection initiative?

Accepted Answer

A)   machine learning
B)   secondary data
C)   root-cause analysis
D)   artificial intelligence

Question 6

Which step of the 7-step marketing analytics process typically involves other key stakeholders such as information technology specialists, customer service representatives, or the sales team of an organization?

Accepted Answer

A)   model development
B)   model and results communication
C)   data preparation and feature selection
D)   model deployment

Question 7

Between 2004 and 2020, the Google Trends search volume for the term "HR analytics" has been consistently higher than that for the term "marketing analytics."

Accepted Answer

A) True 
 B)False  False

Question 8

Shop-o-maniac, an e-commerce website, is experiencing low website traffic. Based on the 7-step marketing analytics process, what should be the first step taken by the firm to develop a plan to increase its website traffic?

Accepted Answer

A)   data understanding and collection
B)   business problem understanding
C)   data preparation and feature selection
D)   model development

Question 9

Which of the following statements is true of supervised learning?

Accepted Answer

A)   In supervised learning, the target variable of interest is known.
B)   The goal of supervised learning is to model the underlying structure and distribution in the data.
C)   Supervised learning has no previously defined target variable.
D)   Supervised learning is used to discover and confirm patterns in the data. A

Question 10

Which of the following businesses would most likely determine demand for its product/service based on the season and the type of technology employed by users?

Accepted Answer

A)   a travel services website
B)   a matchmaking app
C)   a medical information website
D)   a food delivery mobile app

Question 11

In the context of determining the correct business problem, asking "What happened?" will help to determine the timeline of the problem.

Accepted Answer

A) True 
 B)False

Question 12

Which of the following types of secondary data includes ZIP code data showing tax return information by state and ZIP code level?

Accepted Answer

A)   corporate information
B)   mobile data
C)   channel partners
D)   government sources

Question 13

In the context of modeling types, supervised learning is called classification when

Accepted Answer

A)   the target variable is continuous.
B)   a testing dataset is used to evaluate the final selected algorithm.
C)   the target variable is categorical.
D)   an unlabeled dataset is used to develop an algorithm.

Question 14

In the second step of the 7-step marketing analytics process, a marketing analyst should

Accepted Answer

A)   identify where the data is stored.
B)   question whether the problem the business is presenting is, in fact, the correct problem.
C)   identify the target and predictor variables.
D)   select the method to use based on the target variable and problem. A

Question 15

A lack of marketing analytics skills can leave a company in a situation described as "information rich but data poor."

Accepted Answer

A) True 
 B)False

Question 16

In the context of questions that help identify a business problem, which of the following questions helps to determine the context of the problem?

Accepted Answer

A)   What do you think continues to drive this problem?
B)   What divisions are impacted by this problem?
C)   What is the current problem that needs solving?
D)   What are the ethical implications of the analysis?

Question 17

According to the survey by KDnuggets, which of the following is the top software used by companies for marketing analytics?

Accepted Answer

A)   Apache Spark
B)   scikit-learn
C)   Python
D)   Tableau

Question 18

In the modeling development step of the 7-step marketing analytics process, the developed algorithm is run on the validation dataset to determine how well it will predict the relevant target variable (dependent variable).

Accepted Answer

A) True 
 B)False

Question 19

In supervised learning, the training dataset is used to

Accepted Answer

A)   select the model that most accurately predicts the target value of interest.
B)   assess how well the algorithm developed using the validation dataset estimates the target variable.
C)   build the algorithm and "learn" the relationship between the predictors and the target variable.
D)   evaluate the final selected algorithm and see how well it performs.

Question 20

Secondary data can be most helpful ________.

Accepted Answer

A)   in addressing specific marketing problems
B)   in formulating ideas about how to ask the right questions
C)   since it does not rely on existing data that has been collected for another purpose
D)   in identifying customers that are unhappy

Exam 1: Introduction to Marketing Analytics

Which of the following types of data can be easily accessed and analyzed when using descriptive, predictive, and prescriptive data analytics techniques?

Correct AnswerverifiedShow Answer

In the context of modeling types, supervised learning is referred to as prediction when the

Correct AnswerverifiedShow Answer

In supervised learning, the validation dataset is used to "learn" the relationship between the predictors and the target variable.

Correct AnswerverifiedShow Answer

Which of the following offers the ability to answer the question "What should happen?" in marketing analytics?

Correct AnswerverifiedShow Answer

Which of the following is most helpful for a business designing a future statistics collection initiative?

Correct AnswerverifiedShow Answer

Which step of the 7-step marketing analytics process typically involves other key stakeholders such as information technology specialists, customer service representatives, or the sales team of an organization?

Correct AnswerverifiedShow Answer

Between 2004 and 2020, the Google Trends search volume for the term "HR analytics" has been consistently higher than that for the term "marketing analytics."

Correct AnswerverifiedFalse

Shop-o-maniac, an e-commerce website, is experiencing low website traffic. Based on the 7-step marketing analytics process, what should be the first step taken by the firm to develop a plan to increase its website traffic?

Correct AnswerverifiedShow Answer

Which of the following statements is true of supervised learning?

Correct AnswerverifiedA

Which of the following businesses would most likely determine demand for its product/service based on the season and the type of technology employed by users?

Correct AnswerverifiedShow Answer

In the context of determining the correct business problem, asking "What happened?" will help to determine the timeline of the problem.

Correct AnswerverifiedShow Answer

Which of the following types of secondary data includes ZIP code data showing tax return information by state and ZIP code level?

Correct AnswerverifiedShow Answer

In the context of modeling types, supervised learning is called classification when

Correct AnswerverifiedShow Answer

In the second step of the 7-step marketing analytics process, a marketing analyst should

Correct AnswerverifiedA

A lack of marketing analytics skills can leave a company in a situation described as "information rich but data poor."

Correct AnswerverifiedShow Answer

In the context of questions that help identify a business problem, which of the following questions helps to determine the context of the problem?

Correct AnswerverifiedShow Answer

According to the survey by KDnuggets, which of the following is the top software used by companies for marketing analytics?

Correct AnswerverifiedShow Answer

In the modeling development step of the 7-step marketing analytics process, the developed algorithm is run on the validation dataset to determine how well it will predict the relevant target variable (dependent variable).

Correct AnswerverifiedShow Answer

In supervised learning, the training dataset is used to

Correct AnswerverifiedShow Answer

Secondary data can be most helpful ________.

Correct AnswerverifiedShow Answer

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A

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