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Question 11

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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?

What is the time to market the software?
What is the time to market the software?
What is the total cost incurred per year?
What is the total cost incurred per year?
What is the number of customers retained over the past 3 years?
What is the number of customers retained over the past 3 years?
What is the average time for conversion?
What is the average time for conversion?
Suggested answer: D

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

asked 18/09/2024
Viswanadha Sastry Kattamuri
44 questions

Question 12

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An analytics team is interested in reviewing the results of a public opinion poll that is going to be conducted at the end of the month. One of the factors the team is interested in, is ensuring the result set is statistically significant. Why would this factor be important to the team?

To make sure the criteria for the target audience is met
To make sure the criteria for the target audience is met
Guarantee that the objectives of the poll are met
Guarantee that the objectives of the poll are met
Improve the likelihood of receiving a response rate of 100%
Improve the likelihood of receiving a response rate of 100%
Ensure that results are not biased or random
Ensure that results are not biased or random
Suggested answer: D

Explanation:

Ensuring the result set is statistically significant is important to the team because it means that the difference or relationship observed in the data is unlikely to be due to chance or sampling error. Statistical significance helps the team to assess the validity and reliability of their findings, and to draw meaningful conclusions and recommendations from the data. Statistical significance also helps the team to communicate their results with confidence and credibility to the stakeholders and decision makers12

Reference: 1: An Easy Introduction to Statistical Significance (With Examples) - Scribbr 2: Statistical Significance in Experimentation and Data Analysis - All About Circuits

asked 18/09/2024
Nael Abal
33 questions

Question 13

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The outcome from an analytics initiative has resulted in key stakeholders wanting to move forward with a project to redesign the company's website. The business analyst has called a meeting to work on drafting a plan to assess the level of effort required to complete this work. Many of the invited participants redesigned the website before and were invited so they could provide estimates using their knowledge and experience from the past. The business analyst is using which method to estimate this work?

Rolling wave
Rolling wave
PERT
PERT
Parametric
Parametric
Rough order of magnitude
Rough order of magnitude
Suggested answer: D

Explanation:

The business analyst is using the rough order of magnitude method to estimate this work. This method is based on expert opinion or experience from past projects, and it provides a quick and approximate estimate of the cost, time, or effort required for a project or a task. This method is useful when there is limited information or data available, or when a high-level estimate is needed for planning or budgeting purposes. However, this method also has a high degree of uncertainty and variability, and it should be refined as more details become available12

Reference: 1: Project Estimation Techniques Business Analysts Should Know About 2: Estimation techniques for business analysts -- The Functional BA

asked 18/09/2024
Sze Yenn Tan
36 questions

Question 14

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The analytics team has been asked to provide an estimate of the number of customers they expect to have in 12 months. They debated how accurate that figure needs to be and determined that based on the availability of good data, they could predict within + or - 10%. This is an example of a:

ROM estimate
ROM estimate
Delphi estimate
Delphi estimate
Parametric estimate
Parametric estimate
Definitive estimate
Definitive estimate
Suggested answer: A

Explanation:

A ROM estimate is a rough order of magnitude estimate that provides a quick and approximate estimate of the cost, time, or effort required for a project or a task. A ROM estimate is based on expert opinion or experience from past projects, and it usually has a large range of variation, such as + or - 10%. A ROM estimate is useful when there is limited information or data available, or when a high-level estimate is needed for planning or budgeting purposes. However, a ROM estimate also has a high degree of uncertainty and variability, and it should be refined as more details become available12

Reference: 1: Project Estimation Techniques Business Analysts Should Know About 2: Estimation techniques for business analysts -- The Functional BA

asked 18/09/2024
Yan Wei
35 questions

Question 15

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To gain traction on online sales, a retailer initiated a marketing campaign using banner ads. The company has requested their analytics team to evaluate the performance of the campaign. During the presentation, the analyst confirmed that the campaign did bring in a large number of net new customers to the website and met the target sales conversion rate. They also noted that there was a high number of repeat visitors not completing a sale. What decision would help the retailer improve sales conversion rates for repeat visitors?

Increase investment in banner ads
Increase investment in banner ads
Incentivize customers to subscribe to promotional notifications
Incentivize customers to subscribe to promotional notifications
Add additional new products to attract customers
Add additional new products to attract customers
Ensure the sales checkout process is streamlined
Ensure the sales checkout process is streamlined
Suggested answer: D

Explanation:

According to the Business Data Analytics: A Decision-Making Paradigm1, one of the key steps in the analytics process is to communicate insights and recommendations to stakeholders. The analyst should present the findings in a clear and concise manner, and provide actionable suggestions to improve the business outcomes. In this case, the analyst has identified that repeat visitors are not completing a sale, which indicates a possible issue with the sales checkout process. Therefore, the analyst should recommend the retailer to streamline the sales checkout process, which could reduce friction, increase customer satisfaction, and boost sales conversion rates for repeat visitors.

Reference: Business Data Analytics: A Decision-Making Paradigm

asked 18/09/2024
Suneth Jayalath
33 questions

Question 16

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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?

A pie chart to compare the number of tickets coming in versus tickets being processed each month, over the past year
A pie chart to compare the number of tickets coming in versus tickets being processed each month, over the past year
A column chart to compare the number of tickets coming in versus tickets being processed each month, since June
A column chart to compare the number of tickets coming in versus tickets being processed each month, since June
A line chart to show the widening gap between the number of tickets being processed against the number coming over the past year
A line chart to show the widening gap between the number of tickets being processed against the number coming over the past year
A waterfall chart to show the number of tickets coming in are a lot higher than those being processed as of year to date
A waterfall chart to show the number of tickets coming in are a lot higher than those being processed as of year to date
Suggested answer: C

Explanation:

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.

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 18

* 16 Best Types of Charts and Graphs for Data Visualization [+ Guide]

asked 18/09/2024
Alejandro Rodriguez
32 questions

Question 17

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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:

Complete market research
Complete market research
Assess risks for each option
Assess risks for each option
Vote to choose the recommendation
Vote to choose the recommendation
Seek management guidance
Seek management guidance
Suggested answer: B

Explanation:

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.

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

* CERTIFICATION IN BUSINESS DATA ANALYTICS HANDBOOK - IIBA, page 8, CBDA Exam Sample Questions and Self-Assessment, Question 12

asked 18/09/2024
Przemysław Doczkal
39 questions

Question 18

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Based on the results of a recently completed analytics initiative, the Human Resource department for a major department store implemented a change to its hiring practice to address the attrition rates of its sales associates. The new policy stated that candidates applying for sales positions must possess at least 3 years of relevant sales experience to be considered. After implementing the change, attrition rates are 10% higher and management is frustrated. Which of the following could result in this outcome?

The results of analysis have been incorrectly interpreted
The results of analysis have been incorrectly interpreted
Sales experience is not a relevant skill
Sales experience is not a relevant skill
Analytics is not helpful given this situation
Analytics is not helpful given this situation
The change proposed is not aligned to company strategy
The change proposed is not aligned to company strategy
Suggested answer: D

Explanation:

The change proposed is not aligned to company strategy, because it may not address the root cause of the attrition problem, or it may conflict with other organizational goals or values. For example, the change may reduce the pool of qualified candidates, increase the hiring costs, or lower the diversity or customer satisfaction of the sales team. The change may also ignore other factors that influence the attrition rates, such as compensation, training, feedback, or recognition. Therefore, the change may not achieve the desired outcome of reducing attrition, and may even worsen it.

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

* CERTIFICATION IN BUSINESS DATA ANALYTICS HANDBOOK - IIBA, page 8, CBDA Exam Sample Questions and Self-Assessment, Question 13

asked 18/09/2024
Harry Meijer
44 questions

Question 19

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A company wants to gauge the thoughts of their employees towards a new company product. On the 25th of March the interviewer makes a list of all employees who were at work on that day and then chooses a subset of those employees to interview. Which term describes the list of all employees present on March 25th?

Population of interest
Population of interest
Survey sample
Survey sample
Sampling frame
Sampling frame
Sample weights
Sample weights
Suggested answer: C

Explanation:

The sampling frame is the term that describes the list of all employees present on March 25th, because it is a technique that defines the set of elements from which a sample is drawn. The sampling frame should ideally match the population of interest, which is the group of elements that the researcher wants to study or make inferences about. In this case, the population of interest is the employees of the company, and the sampling frame is the subset of employees who were at work on a specific day. The survey sample is the technique that selects a portion of the sampling frame to participate in the survey. The sample weights are the technique that assigns different values or importance to each element in the sample, based on their representation in the population.

Reference:

* Business Analysis Certification in Data Analytics, CBDA | IIBA, CBDA Competencies, Domain 2: Source Data

* Understanding the Guide to Business Data Analytics, page 14

* CERTIFICATION IN BUSINESS DATA ANALYTICS HANDBOOK - IIBA, page 8, CBDA Exam Sample Questions and Self-Assessment, Question 14

asked 18/09/2024
ERIK BURDETT
42 questions

Question 20

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Interested in building out the analytics capability based on the positive results obtained by past analytics efforts, the Chief Marketing Officer (CMO) pitches the idea of using analytics to guide future decision making across the enterprise. Before allocating budget to build up an enterprise analytics practice, the decision makers should:

Request that a small team be assembled to brainstorm a list of capabilities to develop with any approved monies
Request that a small team be assembled to brainstorm a list of capabilities to develop with any approved monies
Identify the sponsor and a project manager who can collaborate on the development of the project charter
Identify the sponsor and a project manager who can collaborate on the development of the project charter
Oversee the completion of up-front analysis to determine how value can be achieved through an enterprise-wide analytics practice
Oversee the completion of up-front analysis to determine how value can be achieved through an enterprise-wide analytics practice
Determine if the company has the sufficient resources to build up the analytics practice
Determine if the company has the sufficient resources to build up the analytics practice
Suggested answer: C

Explanation:

Before investing in an enterprise analytics practice, the decision makers should have a clear understanding of the expected value and benefits of such a practice. This requires conducting an up-front analysis that identifies the business problems or opportunities that can be addressed by analytics, the data sources and technologies that are needed, the analytical models and methods that are appropriate, and the metrics and indicators that will measure the impact and outcomes of the analytics solutions12. This analysis will help to define the scope, objectives, and requirements of the enterprise analytics practice, as well as the resources, roles, and governance structures that are necessary to support it34. An up-front analysis will also help to prioritize the analytics initiatives based on their feasibility, alignment with the business strategy, and potential value creation

Topic 2, Exam Pool B

asked 18/09/2024
Unai M
39 questions
Total 152 questions
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