TEST BANK
Introduction to Business Analytics
Vernon J. Richardson
1st Edition
,Table of Contents
1. Chapter 1: Specify the Question: Using Business Analytics to Address Business
Questions
2. Chapter 2: Obtain the Data: An Introduction to Business Data Sources
3. Chapter 3: Analyze the Data: Basic Statistics and Tools Required in Business
Analytics
4. Chapter 4: Analyze the Data: Exploratory Business Analytics (Descriptive Analytics
and Diagnostic Analytics)
5. Chapter 5: Analyze the Data: Confirmatory Business Analytics (Predictive Analytics
and Prescriptive Analytics)
6. Chapter 6: Report the Results: Using Data Visualization
7. Chapter 7: Marketing Analytics
8. Chapter 8: Accounting Analytics
9. Chapter 9: Financial Analytics
10.Chapter 10: Operations Analytics
11.Chapter 11: Advanced Business Analytics
12.Chapter 12: Using the SOAR Analytics Model to Put It All Together: Three Capstone
Projects
,Chapter 1
(ANSWERS AT THE END OF EVERY CHAPTER)
Student name:
TRUE/FALSE - Write 'T' if the statement is true and 'F' if the statement is false.
1) A business process is a coordinated, standardized set of activities conducted by both people
and equipment to accomplish a specific business task.
⊚ true
⊚ false
2) A business analyst is a data scientist who collects data to help an organization make
effective business decisions.
⊚ true
⊚ false
3) Data is defined as information organized in a meaningful way to be useful to the user.
⊚ true
⊚ false
4) Information is defined as being data organized in a meaningful way to be useful to the user in
a given context.
⊚ true
⊚ false
5) A data scientist is a liaison between decision makers and business analysts.
⊚ true
⊚ false
6) Operations analytics uses business analytics to measure and improve the efficiency and
effectiveness of the company’s operations.
⊚ true
⊚ false
, 7) The third step in the SOAR analytics model is to Access the data.
⊚ true
⊚ false
8) Exploratory data visualization is used to communicate results of the analysis to decision
makers and other stakeholders.
⊚ true
⊚ false
CHECK ALL THE APPLY. Choose all options that best completes the statement or
answers the question.
9) A visualization may be used to help with which component of the SOAR model?
A) Specify the Question
B) Obtain the Data
C) Analyze the Data
D) Report the Results
MULTIPLE CHOICE - Choose the one alternative that best completes the statement or
answers the question.
10) The difficulty a person faces in understanding a problem and making a decision as a
consequence of having too much data.
A) Data Complexity
B) Data Overload
C) Analytics Mindset
D) Data Challenges
11) Which step of the SOAR model would usually involve computing an average?
A) Specify the Question
B) Obtain the Data
C) Analyze the Data
D) Report the Results
12) Which step of the SOAR model most appropriately addresses the skill mentioned by EY’s
analytics mindset of “extract, transform and load relevant data”?
A) Specify the Question
B) Obtain the Data
C) Analyze the Data
D) Report the Results
Introduction to Business Analytics
Vernon J. Richardson
1st Edition
,Table of Contents
1. Chapter 1: Specify the Question: Using Business Analytics to Address Business
Questions
2. Chapter 2: Obtain the Data: An Introduction to Business Data Sources
3. Chapter 3: Analyze the Data: Basic Statistics and Tools Required in Business
Analytics
4. Chapter 4: Analyze the Data: Exploratory Business Analytics (Descriptive Analytics
and Diagnostic Analytics)
5. Chapter 5: Analyze the Data: Confirmatory Business Analytics (Predictive Analytics
and Prescriptive Analytics)
6. Chapter 6: Report the Results: Using Data Visualization
7. Chapter 7: Marketing Analytics
8. Chapter 8: Accounting Analytics
9. Chapter 9: Financial Analytics
10.Chapter 10: Operations Analytics
11.Chapter 11: Advanced Business Analytics
12.Chapter 12: Using the SOAR Analytics Model to Put It All Together: Three Capstone
Projects
,Chapter 1
(ANSWERS AT THE END OF EVERY CHAPTER)
Student name:
TRUE/FALSE - Write 'T' if the statement is true and 'F' if the statement is false.
1) A business process is a coordinated, standardized set of activities conducted by both people
and equipment to accomplish a specific business task.
⊚ true
⊚ false
2) A business analyst is a data scientist who collects data to help an organization make
effective business decisions.
⊚ true
⊚ false
3) Data is defined as information organized in a meaningful way to be useful to the user.
⊚ true
⊚ false
4) Information is defined as being data organized in a meaningful way to be useful to the user in
a given context.
⊚ true
⊚ false
5) A data scientist is a liaison between decision makers and business analysts.
⊚ true
⊚ false
6) Operations analytics uses business analytics to measure and improve the efficiency and
effectiveness of the company’s operations.
⊚ true
⊚ false
, 7) The third step in the SOAR analytics model is to Access the data.
⊚ true
⊚ false
8) Exploratory data visualization is used to communicate results of the analysis to decision
makers and other stakeholders.
⊚ true
⊚ false
CHECK ALL THE APPLY. Choose all options that best completes the statement or
answers the question.
9) A visualization may be used to help with which component of the SOAR model?
A) Specify the Question
B) Obtain the Data
C) Analyze the Data
D) Report the Results
MULTIPLE CHOICE - Choose the one alternative that best completes the statement or
answers the question.
10) The difficulty a person faces in understanding a problem and making a decision as a
consequence of having too much data.
A) Data Complexity
B) Data Overload
C) Analytics Mindset
D) Data Challenges
11) Which step of the SOAR model would usually involve computing an average?
A) Specify the Question
B) Obtain the Data
C) Analyze the Data
D) Report the Results
12) Which step of the SOAR model most appropriately addresses the skill mentioned by EY’s
analytics mindset of “extract, transform and load relevant data”?
A) Specify the Question
B) Obtain the Data
C) Analyze the Data
D) Report the Results
