Data-driven Decision Making Coursera Quiz Answers

All Weeks Data-driven Decision Making Coursera Quiz Answers

Data-driven Decision Making Week 1 Quiz Answers

Quiz 1: Week 1 Quiz

Q1. What is the correct definition of data analytics?

  • Collecting of information so that it can be easily accessed, managed and updated
  • Interpreting customer reactions to a given product or initiative
  • Examining raw data in order to draw conclusions about the information
  • Organizing and implementing policies, procedures and standards for effective use of data

Q2. How is the current huge volume of structured and unstructured data sets impacting organizations?

  • It is causing organizations to spend more money on data storage
  • It is overwhelming the current technology available to organizations
  • It is providing organizations with the ability to gain insights once technologically impossible or economically impractical

Q3. What does data and analytics give organizations the ability to do?

  • Identify growth opportunities and drive innovation
  • Identify growth opportunities and operate more efficiently
  • Drive innovation, operate more efficiently, reduce amount of unstructured data
  • Identify growth opportunities, drive innovation and operate more efficiently

Q4. What are the four steps organizations use to solve problems?

  • Implementation, Measurement, Analytics, and Course Correction
  • Planning, Implementation, Measurement, and Course Correction
  • Planning, Predictive, Descriptive, and Prescriptive
  • Volume, Velocity, Variety, and Veracity

Q5. Over the past year, sales of your client’s product have decreased by 35% in South America, but have grown by 15% in all other parts of the world. At what phase of the business problem solving process would you use analytics to build future state scenarios?

  • Planning
  • Implementation
  • Analysis
  • Course correction

Q6. By blending the art of leadership and judgment with the science of analytic excellence, what can organizations do?

  • Perform predictive analysis
  • Make better and faster decisions
  • Increase their profit margin
  • Decrease the amount of data in their organization

Q7. .Why do we have a data and analytics framework?

  • It allows organizations to move through data analysis in an organized way
  • It allows people to use different approaches
  • it is required by regulatory agencies
  • It lets organizations start with data before determining required business outcomes

Q8. What are the aspects of the data and analytics framework?

  • Planning, Implementation, Measurement, Course Correction
  • Discovery, Insights, Actions, Outcomes
  • Planning, Actions, Measurement, Course Correction
  • Discovery, Actions, Planning, Outcomes

Q9. An organization needs to understand why things are happening in their organization. What type of analytics should they use?

  • Descriptive analytics
  • Diagnostic analytics
  • Prescriptive analytics
  • Predictive analytics

Q10. An organization is trying to determine if they should increase the production of their product. To help answer the  of how much their customers are likely to buy in the future, what type of analytics should this organization perform?

  • Descriptive analytics
  • Predictive analytics
  • Diagnostic analytics
  • Prescriptive analytics

Q11. What does Adaptive and Autonomous analytics do?

  • Builds a real-world model, takes actions and learns from the environment
  • Helps you understand the current state of affairs
  • Allows you to determine the right course of action needed to take today in order to solve a future problem
  • Predicts what could happen in the future based on evidence

Data-driven Decision Making Week 2 Quiz Answers

Quiz 1: Week 2 Quiz

Q1. What is the term used to describe data sets that are so large and complex that they become difficult to process using traditional data processing applications?

  • Unstructured data
  • Big data
  • Quantitative data
  • Open source data

Q2. A client presents you with data sets for analysis. These sets are well defined and include customers names, ages, and other identifying data. What type of data is this?

  • Structured
  • Unstructured
  • Semi-structured

Q3. The client presents you with another set of data. This data is a compilation of all of the comments made on their social media page for the last six months. What type of data is this?

  • Structured
  • Unstructured
  • Semi-structured

Q4. The client gives you all the email communication they have received in the last six months that have included the words “complaint,” “manager,” or “dissatisfied.” What type of data is this?

  • Structured
  • Unstructured
  • Semi-structured

Q5. How can an organization help ensure that they are using social media data properly?

  • By making sure they are gathering data from more than one social media platform
  • By having a strategy that ties the data back to other relevant data sets to validate findings
  • By using predictive modeling to look at what might happen in the future

Q6. What are 3 major business implications of technology advancements?

  1. Customers are changing the way they choose products and services
  2. Supply chains are more complex and diverse
  3. There is more feedback generated by social media
  1. Competitors are faster and nimbler
  2. Supply chains are more complex and diverse
  3. There is more feedback generated by social media
  1. Supply chains are more complex and diverse
  2. Time to market products and services has increased
  3. There is more feedback generated by social media
  1. Customers are changing the way they choose products and services
  2. Competitors are faster and nimbler than ever before
  3. Supply chains are more complex and diverse

Q7. What are the business benefits from advanced data and analytics? Select all that apply.

  • Increased revenues and profits as companies look at hyper-targeting customers
  • Decreased costs and enhanced productivity as more automation takes over from human decision making
  • Better customer experience as the omni-channel interactions provides the convenience for customers and the low cost for providers
  • Reduced risk and better quality as standardization and automation become the norm.

Q8. Which statement most accurately describes PwC’s perspective on big data?

  • The tools we have available to us now creates a situation where we are able to analyze large amounts of data very quickly.
  • Big data is about how insights from data can drive big decisions that solve real business issues and create innovation and opportunity.
  • Big data provides so much information that organizations cannot possibly keep up unless they have the most current technology for processing data.

Q9. Why is it important to use both primary and secondary data in building strategic decisions?

  • Primary data tells you what consumers plan to do and secondary data tells you what they actually did.
  • Primary data is more reliable than secondary data since you observed it first hand, but secondary has been validated by a third party.
  • Primary data gives you user-generated content while secondary data gives you industry benchmarks.
  • Primary data is data that you have collected and secondary data is data that you obtain from an another source / study.

Data-driven Decision Making Week 3 Quiz Answers

Quiz 1: Week 3 Quiz

Q1. What type of analysis can be used to segment a population of consumers into market groups?

  • Regression analysis
  • Factor Analysis
  • Cluster analysis
  • Decision tree analysis

Q2. What type of analysis can be used to graph decisions and their possible consequences including chance event outcomes, resources costs and utility?

  • Cluster analysis
  • Decision tree analysis
  • Factor analysis
  • Regression analysis

Q3. What type of analysis can be used to analyze large number of dependent and independent variables, identifying the core set that will help gain meaningful insight?

  • Cluster analysis
  • Decision tree analysis
  • Factor analysis
  • Regression analysis

Q4. What type of analysis is a statistical process for estimating relationships between a dependent variable and one or more independent variables?

  • Regression analysis
  • Factor Analysis
  • Cluster analysis
  • Decision tree analysis

Q5. What are some of the benefits named for using Excel in a business context?

  • It is easy to use
  • It is easy to explore “what if?” scenarios
  • It automates data processing
  • All of the above

Q6. SAS has advantages for both technical and non-technical users. What are they?

  • SAS combines structured and unstructured data
  • Non-technical users can interact with the point-and-click interface while technical users can perform more complex data management
  • Non-technical users will like the social media aspect while technical users will like the way the algorithms are written

Q7. What is one of the reasons that R is a leading statistical data package?

  • It performs decision-tree modeling better than any other platform
  • It allows the import of data from multiple sources and multiple formats
  • It is crucial to Pharma Research and Development

Q8. You are working at a startup company that wants to embed analytics into their product. What tool would allow you to do this?

  • Python
  • Excel
  • SAS
  • QlikView

Q9. You have a client that needs to demonstrate that its past, present and future workforce plans were fit for purpose. Its data is in different formats, in varying degrees of accuracy and stored in multiple systems across the organization. What are your next steps to help your client quickly and easily access and understand all of this data?

  • Perform a segmentation analysis
  • Perform a decision tree analysis
  • Consolidate the data and share with the client
  • Consolidate the data and create a visualization

Q10. You have a client that has been spending months collecting and analyzing product data and is communicating the findings via basic spreadsheets and sets of powerpoint slides. The data set had become so large that these traditional approaches were not allowing users to interact and use the data at the required level of detail. What tool can connect volumes of data and visualize the data in real time?

  • SAS
  • Excel
  • QlikView
  • Python

Q11. A client is suffering a much higher rate of employee turnover than normal within its sector, including losing a significant amount of key talent. The direct cost of this (recruitment costs and lost revenue) is affecting the company’s immediate profitability. This loss of talent was a cause of long-term concern in realizing the company’s growth strategy. What two types of analysis would you perform to test a range of hypotheses to identify the most common drivers behind employees leaving the company?

  • Multivariate analysis and cluster analysis
  • Factor analysis and regression analysis
  • Multivariate analysis and regression analysis
  • Cluster analysis and decision tree analysis

Data-driven Decision Making Week 4 Quiz Answers

Quiz 1: Final course simulation quiz

Q1. WAVE Beverages is looking to launch a new product. Who is their target audience?

  • Millennials
  • University students
  • Children

Q2. What was the concern of the Director of Operations?

  • How current products are performing
  • That the time and money the distributors are investing will be worth it.
  • Whether or not the promotions being offered to retailers are effective and if the same promotions should be used with new products.

Q3. What is the key business opportunity for WAVE Beverages?

  • Determine if promotional efforts are financially beneficial
  • Develop new promotional approaches
  • Determine the viability of a new product for their target audience
  • Position a new product with both market segment and promotional approaches

Q4. What data sources are available for you to review in this simulation? (select all that apply)

  • Social Media
  • Google Analytics
  • Interviews with key stakeholders within the company

Q5. What analytics techniques would you apply to help WAVE Beverages? (select all that apply)

  • Prescriptive analytics
  • Predictive analytics
  • Descriptive analytics

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We are Team Networking Funda, a group of passionate authors and networking enthusiasts committed to sharing our expertise and experiences in networking and team building. With backgrounds in Data Science, Information Technology, Health, and Business Marketing, we bring diverse perspectives and insights to help you navigate the challenges and opportunities of professional networking and teamwork.

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