The research question prompting the use of analytics is well-defined. The team obtains the results and determines that the source data did not provide reliable results. As a result of this finding, the team modifies the original question to one that can be answered by the dat
Answer(s): A
The risk that could impact the value of this analysis is that the objective of the original research may not be met, because the team modified the research question to fit the data, rather than finding the data that fits the research question. This could lead to a loss of alignment between the research question and the business problem, stakeholder needs, or analytical methods. The team may end up answering a different or less relevant question than the one they intended to answer, and thus provide less valuable insights or recommendations.
- Business Analysis Certification in Data Analytics, CBDA | IIBA®, CBDA Competencies, Domain1: Identify the Research Questions- Understanding the Guide to Business Data Analytics, page 10-11 - CERTIFICATION IN BUSINESS DATA ANALYTICS HANDBOOK - IIBA®, page 8, CBDA Exam Sample Questions and Self-Assessment, Question 10
An online retailer of men's athletic apparel is seeking to become the market leader in the industry. To deliver on this strategy, the analytics team continuously collects data on the prices of competitor products and uses this information to adjust the retailer's prices.What type of analytics is the retailer using to maintain their pricing structure?
Answer(s): D
Prescriptive analytics is the type of analytics that the retailer is using to maintain their pricing structure, because it is a technique that uses data and models to recommend the best course of action for a given situation. Prescriptive analytics can help the retailer optimize their prices based on the data collected from the competitors, the market conditions, and the customer preferences, and thus achieve their strategic goal of becoming the market leader.
- Business Analysis Certification in Data Analytics, CBDA | IIBA®, CBDA Competencies, Domain3: Analyze Data- Understanding the Guide to Business Data Analytics, page 17 - CERTIFICATION IN BUSINESS DATA ANALYTICS HANDBOOK - IIBA®, page 8, CBDA ExamSample Questions and Self-Assessment, Question 11
A financial software company has growth and expansion as one of their top strategic priorities for the year. The senior executive team would like to assess their sales performance over the last 3 years to help set sales objectives. In discussion with the business analytics manager, for a comprehensive sales report, the sales lead recommends looking into the number of contracts signed over the past 3 years and the dollar value for the signed contracts.Which other question is important to consider when evaluating sales performance?
The average time for conversion is the average number of days it takes to convert a lead into a customer. This is an important question to consider when evaluating sales performance, because it indicates the efficiency and effectiveness of the sales process. A shorter time for conversion means that the sales team can close more deals in less time, and thus increase the revenue and profitability of the company. A longer time for conversion may indicate that there are bottlenecks, challenges, or inefficiencies in the sales process that need to be addressed.
- Business Analysis Certification in Data Analytics, CBDA | IIBA®, CBDA Competencies, Domain5: Use Results to Influence Business Decision Making- Understanding the Guide to Business Data Analytics, page 9 - Business Data Analytics (IIBA®-CBDA Exam preparation) | Udemy, Section 4: Interpret and Report Results, Lecture 19: Sales Performance Metrics
With the recent departure of two of its employees, an IT helpdesk team is now understaffed and finding it difficult to keep up with the current workload. The number of tickets being received has increased as well as the number of days to resolve the tickets. The IT manager has set up a meeting with the IT director to request funding for two new helpdesk agents. To prepare for the meeting, the manager is interested in showing the tickets processed against ticket volume over the past year.What type of chart should the manager use to effectively show the change in processing rate over time?
Answer(s): C
A line chart is the type of chart that the manager should use to effectively show the change in processing rate over time, because it is a technique that displays data as a series of points connected by straight lines. A line chart can help the manager visualize the trends and patterns in the ticket volume and processing rate over the past year, and highlight the widening gap between them. A line chart can also show the seasonal variations and fluctuations in the data, and compare the performance of different categories or groups. Options A, B, and D are not suitable for showing the change in processing rate over time, because they are techniques that display data as proportions (A), comparisons (B), or accumulations (D) of different categories or groups at a single point in time or over a fixed period.
- Business Analysis Certification in Data Analytics, CBDA | IIBA®, CBDA Competencies, Domain4: Interpret and Report Results- Understanding the Guide to Business Data Analytics, page 18 - 16 Best Types of Charts and Graphs for Data Visualization [+ Guide]
The analytics team has established two equally strong potential recommendations which will deliver the desired outcomes with similar benefits to be derived from each one. On the surface there is no discernable difference in costs or schedule for either option. To help the analytics team reach a recommendation the business analysis professional recommends the team:
Answer(s): B
Assessing risks for each option is the recommendation that the business analysis professional should make to the analytics team, because it is a technique that involves identifying, analyzing, and evaluating the potential positive or negative impacts of each option on the project, the organization, or the stakeholders. Assessing risks can help the team compare the pros and cons of each option, and determine which one has the highest expected value or the lowest expected loss. Assessing risks can also help the team prepare contingency plans or mitigation strategies for the chosen option, and communicate the rationale and assumptions behind their recommendation.
- Business Analysis Certification in Data Analytics, CBDA | IIBA®, CBDA Competencies, Domain5: Use Results to Influence Business Decision Making- Understanding the Guide to Business Data Analytics, page 9 - CERTIFICATION IN BUSINESS DATA ANALYTICS HANDBOOK - IIBA®, page 8, CBDA ExamSample Questions and Self-Assessment, Question 12
Post your Comments and Discuss IIBA IIBA-CBDA exam prep with other Community members:
Our website is free, but we have to fight against AI bots and content theft. We're sorry for the inconvenience caused by these security measures. You can access the rest of the IIBA-CBDA content, but please register or login to continue.