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CBDA: Certification In Business Data Analytics
IIBA
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A real estate broker is tracking monthly sales between two of its teams. The results have been visualized. What insights can be drawn from the chart?
Explanation:
The chart visualizes monthly sales data for two teams over a year, divided into quarters. By analyzing the data, it is evident that November (part of Q4) had the lowest monthly sales in the year, making option C correct. There isn't enough information to verify the performance of individual teams in each quarter as per Business Data Analytics (IIBA- CBDA) objectives and resources.
Reference:
* [Business Analysis Certification in Data Analytics, CBDA | IIBA], CBDA Competencies, Domain 4: Interpret and Report Results
* [Understanding the Guide to Business Data Analytics], page 9
* [CERTIFICATION IN BUSINESS DATA ANALYTICS HANDBOOK - IIBA], page 8, CBDA Exam Sample Questions and Self-Assessment, Question 7
An analyst is doing a clinical study on the value of analyte among a large population of healthy people. The analyst is going to use a Gaussian Distribution to share the results. Which of the following represents a Gaussian Distribution?
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As the organization looks to advance its analytics practices, the topic of provisioning access to executive dashboards and visualizations is under discussion. Establishing standards and implementing role based logins to executive dashboards will address:
An analyst is doing a clinical study on the value of analyte among a large population of healthy people. The analyst is going to use a Gaussian Distribution to share the results. Which of the following represents a Gaussian Distribution? (IMAGE TAKEN)
Explanation:
Explanation: As explained in the previous question, a Gaussian Distribution, also known as a normal distribution, is represented by a symmetrical bell-shaped curve. The mean, median, and mode of the distribution are equal and are at the center of the distribution. This type of distribution is characterized by its mean and standard deviation. The curve is symmetrical around the mean. In the image, the curve labeled A is the only one that matches this description. The other curves are either skewed or irregular.
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?
Explanation:
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.
Reference:
* Business Analysis Certification in Data Analytics, CBDA | IIBA, CBDA Competencies, Domain 5: 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
A data scientist at a consumer goods company, has been asked to do a detailed analysis on customer profiles. The Data Scientist has identified an external data source that carries valuable additional information on their customers. The data scientist also identifies the address column as the most reliable column to join the internal data source with the external data source. Addresses may appear in different formats for example:
File A = '13 Smith St'
File B = 'Unit 7, 13 Smith Street'
Which of the following techniques would be useful in this situation?
Explanation:
Probabilistic linkage is a technique that uses statistical methods to match records from different data sources based on the similarity of key variables, such as name, address, date of birth, etc1.Probabilistic linkage can handle variations, errors, or missing values in the data, and assign a score or probability to each potential match2. Probabilistic linkage would be useful in this situation, as the address column may have different formats, spellings, or abbreviations in the internal and external data sources, and a deterministic linkage (which requires exact matches) might miss some valid matches or create false matches.
Deterministic linkage is a technique that uses predefined rules or criteria to match records from different data sources based on the exact agreement of key variables, such as identifiers, codes, or hashes3. Deterministic linkage would not be useful in this situation, as the address column may not have consistent or unique values in the internal and external data sources, and a probabilistic linkage (which allows for some variation or uncertainty) might find more accurate matches or avoid false matches.
Genetic linkage is a term used in genetics to describe the tendency of genes or DNA sequences that are located close together on a chromosome to be inherited together4. Genetic linkage is not relevant to this situation, as it has nothing to do with matching records from different data sources based on the address column.
Cuff linkage is a term used in sewing to describe the process of attaching a cuff to a sleeve by stitching or fastening.Cuff linkage is not relevant to this situation, as it has nothing to do with matching records from different data sources based on the address column.
Insights based on the data collected indicate that a multi-national company could increase its sales of a mature product by reducing its price by 20% which would result in increased revenues of 2% over a 6-month period. The team recommends this as an appropriate goal for its organization. This is considered a good goal because:
Explanation:
A well-defined objective is one that is specific, measurable, achievable, relevant, and time-bound (SMART)1. The goal of increasing sales of a mature product by reducing its price by 20% which would result in increased revenues of 2% over a 6-month period meets all these criteria, as it clearly states what the desired outcome is, how it will be measured, whether it is realistic and attainable, how it aligns with the organization's strategy, and when it will be achieved2.
Reference: 1: Guide to Business Data Analytics, IIBA, 2020, p. 192: SMART Goals: How to Make Your Goals Achievable, MindTools, 2021, 1.
An insurance company would like to develop a range of insurance products for different types of customers. The analytics team is asked to conduct some research and share their insights with senior management. Which technique would be useful to divide the customer base into groups?
Explanation:
K-means clustering is a technique that partitions a set of data points into a predefined number of clusters, based on their similarity or distance. This technique can be useful to divide the customer base into groups that have similar characteristics, preferences, or behaviors, and then design insurance products that cater to each group's needs and expectations. K-means clustering can also help identify outliers or anomalies in the customer data that may require further investigation or attention.
A large retail chain has asked their analytics team to complete a study on their customers' purchasing patterns. The analyst assigned to the study has decided to draw further insight by grouping customers based on their purchasing habits. This clustering approach is an example of:
A small business has recently launched their website and wants to understand how the website is being used. In particular, there is interest in identifying which areas of each page receive the most attention. The analyst has decided to communicate this information by displaying the top pages overlaid with colours denoting the volume of clicks. What type of visualization technique is being used here?
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