IIBA CBDA Practice Test - Questions Answers, Page 2
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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?
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?
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?
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:
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?
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?
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:
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?
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?
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:
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