QUESTIONS AND CORRECT ANSWERS
Random Errors - CORRECT ANSWER Error in measurement caused by unpredictable
statistical fluctuations
Information Bias - CORRECT ANSWER A prejudice in the data that results when either the
respondent or the interviewer has an agenda and is not presenting impartial questions or responding
with truly honest responses, respectively
Ratio Data - CORRECT ANSWER Similar to interval data in that the data is ordered within a
range and with each data point being an equal interval apart, also has a natural zero point which
indicates none of the given quality
Data Set - CORRECT ANSWER A collection of related data records on a storage device.
Nominal Data - CORRECT ANSWER Sometimes called categorical data or qualitative data,
this data type is used to label subjects or data by name
Reliable Data - CORRECT ANSWER Data that is consistent and repeatable
Davenport-Kim Three Stages Model - CORRECT ANSWER A decision-making model
developed by Thomas Davenport and Jinho Kim that consists of three stages:
Framing the problem
Solving the problem
Communicating the problem
Blind study - CORRECT ANSWER A study performed where the participants are not told if
they are in the treatment group or control group
Double-Blind Study - CORRECT ANSWER A study performed where neither the treatment
allocators nor the participant knows which group the participant is in
,Measurement Bias - CORRECT ANSWER A prejudice in the data that results when the sample
is not representative of the population being represented.
Analytics - CORRECT ANSWER The discovery, analysis, and communication of meaningful
patterns in data.
Data Management - CORRECT ANSWER The management, including the cleaning and
storage, of collected data
Triple-Blind Study - CORRECT ANSWER A study performed where neither the treatment
allocator nor the participant nor the response gatherer knows which group the participant is in
Omission Error - CORRECT ANSWER An error because something ( for example, data or
survey responses) is missing.
Relational Database - CORRECT ANSWER A database structured to recognize relations
among stored items of information
Ordinal Data - CORRECT ANSWER Data that places data objects into an order according o
some quality with higher order indicating more of that quality
Discrete Data - CORRECT ANSWER Data that can only take on whole values and has clear
boundaries
Interval Data - CORRECT ANSWER Data that is ordered within a range and with each data
point being an equal interval apart
Valid Data - CORRECT ANSWER Data resulting from a test that accurately measures what it
is intended to measure
Big Data - CORRECT ANSWER A catch-phrase that describes a massive volume that is so
large that it's difficult to process using traditional database software techniques
, Systematic errors - CORRECT ANSWER Errors in measurement that are constant within a
data set, sometimes caused by faulty equipment or bias.
Benchmarks - CORRECT ANSWER Standards or points of reference for an industry or sector
that can be used for comparison and evaluation.
Continuous Data - CORRECT ANSWER Data that can lay along any point in a range of data
Statistics - CORRECT ANSWER The science that deals with the interpretation of numerical
facts or data though theories of probability. Also, the numerical facts or data themselves.
Decision Tree Analysis - CORRECT ANSWER The diagram of possible alternatives and their
expected consequences in order to formulate passible courses of action in order to make decisions
Expected Monetary Value (EMV) Analysis - CORRECT ANSWER A statistical technique that
calculates the average outcome when the future includes scenarios that may or may not happen.
Response Rates - CORRECT ANSWER The number of people who respond to a marketing
offer (often expressed as a percentage of the number of responses divided by the number of people
that ere targeted mail, email etc.)
Click-through rates - CORRECT ANSWER A common metric to measure the success of an
email campaign. Total number of clicks on a hotlink(s) in an email divided by the number of emails
sent. Includes multiple clicks by a unique user.
Open Rate - CORRECT ANSWER The number of email message recipients who opened an
email, usually as a percentage of the number of emails sent or delivered. The open rate is considered a
key metric for judging an email marketing campaign.
Transactional Data - CORRECT ANSWER Data that records a time and relevant reference data
needed for a particular transaction record; can be financial, involving everything from a purchase to
shipping status to a product return.
Response Bias - CORRECT ANSWER When respondents to a survey say what they believe
the questioner wants to hear. This bias can occur as a result of the wording of a question.