Question 1

Identify a valid difference between descriptive analytics and predictive analytics.

Accepted Answer

A)   Descriptive analytics predicts new needs and opportunities, whereas predictive analysis reinforces existing beneficial practices.
B)   Descriptive analytics mimics human-like intelligence, whereas predictive analytics identifies the best optimal decision.
C)   Descriptive analytics can identify patterns in data, whereas predictive analytics can recognize objects from an image.
D)   Descriptive analytics uses data to explain the past, whereas predictive analytics uses data to explain the future.

Question 2

Discuss the importance of knowledge of marketing analytics when an individual is searching for a job.

Accepted Answer

Knowledge of marketing analytics is cruc...

Question 3

Google Dataset Search is useful in helping data enthusiasts find available data sources.

Accepted Answer

A) True 
 B)False

Question 4

Which of the following is true about the fifth principle in the SMART analytics principles?

Accepted Answer

A)   The project should be trackable and the outcomes measurable.
B)   The project should solve the analytics problem and align with the business objectives.
C)   The project should be completed in a timely manner.
D)   The project's goals should be specific and clearly defined.

Question 5

In supervised learning, the testing dataset is used to

Accepted Answer

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

Question 6

The Department of Agriculture is a source of secondary data on ________.

Accepted Answer

A)   consumer complaints regarding government's financial products and services
B)   population, economy, housing, and geography
C)   demographic characteristics such as gender, ethnicity, and citizenship
D)   fruit and vegetable prices for over 153 commonly consumed products

Question 7

In which step of the 7-step marketing analytics process are the unit of analysis and the target and predictor variables identified?

Accepted Answer

A)   data understanding and collection
B)   model development
C)   model evaluation and interpretation
D)   data preparation and feature selection

Question 8

When the target variable is categorical, supervised learning is called prediction.

Accepted Answer

A) True 
 B)False

Question 9

In the context of questions that help identify a business problem, asking "What factors continue to drive this problem?" will help determine the outcome of the ________.

Accepted Answer

A)   stakeholder
B)   impacted unit
C)   root-cause analysis
D)   timeline

Question 10

In the context of the 7-step marketing analytics process, which of the following steps should be followed after completing model evaluation and interpretation?

Accepted Answer

A)   model deployment
B)   model and results communication
C)   business problem understanding
D)   data preparation and feature selection

Question 11

Discuss how a business can use supervised and unsupervised learning together to gain more insights about a problem it is facing.

Accepted Answer

Supervised and unsupervised learning are...

Question 12

A marketing analyst at a gaming company is studying the effect of school holidays on sales of video games. In this study, what type of variable is school holidays?

Accepted Answer

A)   a target variable
B)   a dependent variable
C)   an outcome variable
D)   an independent variable

Question 13

In the context of defining the right business problem, list the questions that need to be asked to determine context.

Accepted Answer

1. What is the specific issue or challen...

Question 14

The goal of unsupervised learning is to model the underlying structure and distribution in the data to discover and confirm patterns in the data.

Accepted Answer

A) True 
 B)False

Question 15

In the context of variable types in data measurement, explain the difference between numerical and categorical variables.

Accepted Answer

Numerical variables are those that repre...

Exam 1: Introduction to Marketing Analytics

Discuss how a business can use supervised and unsupervised learning together to gain more insights about a problem it is facing.

Correct Answer
Answered by ExamLex AI
Supervised and unsupervised learning are...
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In the context of questions that help identify a business problem, asking "What factors continue to drive this problem?" will help determine the outcome of the ________.

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In the context of the 7-step marketing analytics process, which of the following steps should be followed after completing model evaluation and interpretation?

Correct Answer
verified

In which step of the 7-step marketing analytics process are the unit of analysis and the target and predictor variables identified?

Correct Answer
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In supervised learning, the testing dataset is used to

Correct Answer
verified

Discuss the importance of knowledge of marketing analytics when an individual is searching for a job.

Correct Answer
Answered by ExamLex AI
Knowledge of marketing analytics is cruc...
View Answer

Google Dataset Search is useful in helping data enthusiasts find available data sources.

Correct Answer
verified

Which of the following is true about the fifth principle in the SMART analytics principles?

Correct Answer
verified

The goal of unsupervised learning is to model the underlying structure and distribution in the data to discover and confirm patterns in the data.

Correct Answer
verified

The Department of Agriculture is a source of secondary data on ________.

Correct Answer
verified

In the context of defining the right business problem, list the questions that need to be asked to determine context.

Correct Answer
Answered by ExamLex AI
1. What is the specific issue or challen...
View Answer

A marketing analyst at a gaming company is studying the effect of school holidays on sales of video games. In this study, what type of variable is school holidays?

Correct Answer
verified

Identify a valid difference between descriptive analytics and predictive analytics.

Correct Answer
verified

When the target variable is categorical, supervised learning is called prediction.

Correct Answer
verified

In the context of variable types in data measurement, explain the difference between numerical and categorical variables.

Correct Answer
Answered by ExamLex AI
Numerical variables are those that repre...
View Answer

Exam 1: Introduction to Marketing Analytics

Discuss how a business can use supervised and unsupervised learning together to gain more insights about a problem it is facing.

Correct AnswerAnswered by ExamLex AISupervised and unsupervised learning are...View AnswerShow Answer

In the context of questions that help identify a business problem, asking "What factors continue to drive this problem?" will help determine the outcome of the ________.

Correct AnswerverifiedShow Answer

In the context of the 7-step marketing analytics process, which of the following steps should be followed after completing model evaluation and interpretation?

Correct AnswerverifiedShow Answer

In which step of the 7-step marketing analytics process are the unit of analysis and the target and predictor variables identified?

Correct AnswerverifiedShow Answer

In supervised learning, the testing dataset is used to

Correct AnswerverifiedShow Answer

Discuss the importance of knowledge of marketing analytics when an individual is searching for a job.

Correct AnswerAnswered by ExamLex AIKnowledge of marketing analytics is cruc...View AnswerShow Answer

Google Dataset Search is useful in helping data enthusiasts find available data sources.

Correct AnswerverifiedShow Answer

Which of the following is true about the fifth principle in the SMART analytics principles?

Correct AnswerverifiedShow Answer

The goal of unsupervised learning is to model the underlying structure and distribution in the data to discover and confirm patterns in the data.

Correct AnswerverifiedShow Answer

The Department of Agriculture is a source of secondary data on ________.

Correct AnswerverifiedShow Answer

In the context of defining the right business problem, list the questions that need to be asked to determine context.

Correct AnswerAnswered by ExamLex AI1. What is the specific issue or challen...View AnswerShow Answer

A marketing analyst at a gaming company is studying the effect of school holidays on sales of video games. In this study, what type of variable is school holidays?

Correct AnswerverifiedShow Answer

Identify a valid difference between descriptive analytics and predictive analytics.

Correct AnswerverifiedShow Answer

When the target variable is categorical, supervised learning is called prediction.

Correct AnswerverifiedShow Answer

In the context of variable types in data measurement, explain the difference between numerical and categorical variables.

Correct AnswerAnswered by ExamLex AINumerical variables are those that repre...View AnswerShow Answer

Correct Answer
Answered by ExamLex AI
Supervised and unsupervised learning are...
View Answer

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
verified

Correct Answer
Answered by ExamLex AI
Knowledge of marketing analytics is cruc...
View Answer

Correct Answer
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Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
Answered by ExamLex AI
1. What is the specific issue or challen...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
Answered by ExamLex AI
Numerical variables are those that repre...
View Answer