SPREADSHEET MODELING AND DECISION
ANALYSIS A PRACTICAL INTRODUCTION TO
BUSINESS ANALYSIS 2026 EXAM PREPARATION
WORKBOOK COMPREHENSIVE QUESTIONS
AND ANSWERS HIGH SCORE A+
◉ Data. Answer: Raw facts and figures that can be analyzed to
produce information.
◉ Information. Answer: Data that has been processed and organized
so it becomes meaningful and useful.
◉ Big Data. Answer: Extremely large datasets that can be analyzed
to reveal patterns, trends, and associations.
◉ Business Decision Making. Answer: The process managers use to
choose the best action based on available information.
◉ SOAR Model. Answer: A framework used in business analytics to
analyze problems using data.
, ◉ SOAR. Answer: Specify the question, Obtain the data, Analyze the
data, Report the results.
◉ Specify the Question. Answer: The step where the business
problem is clearly defined before analysis begins.
◉ Why specifying the question is important. Answer: If the wrong
question is asked, the analysis will produce useless results.
◉ Example of specifying the question. Answer: Instead of asking
'Why are profits low?' ask 'Did marketing spending affect sales in
Q3?'
◉ Obtain the Data. Answer: Collecting relevant data needed to
answer a business question.
◉ Sources of Data. Answer: Sales records, surveys, customer
databases, website analytics, and financial reports.
◉ Internal Data. Answer: Data collected from within the
organization such as sales data or employee records.
◉ External Data. Answer: Data that comes from outside the
organization such as market research or industry reports.
ANALYSIS A PRACTICAL INTRODUCTION TO
BUSINESS ANALYSIS 2026 EXAM PREPARATION
WORKBOOK COMPREHENSIVE QUESTIONS
AND ANSWERS HIGH SCORE A+
◉ Data. Answer: Raw facts and figures that can be analyzed to
produce information.
◉ Information. Answer: Data that has been processed and organized
so it becomes meaningful and useful.
◉ Big Data. Answer: Extremely large datasets that can be analyzed
to reveal patterns, trends, and associations.
◉ Business Decision Making. Answer: The process managers use to
choose the best action based on available information.
◉ SOAR Model. Answer: A framework used in business analytics to
analyze problems using data.
, ◉ SOAR. Answer: Specify the question, Obtain the data, Analyze the
data, Report the results.
◉ Specify the Question. Answer: The step where the business
problem is clearly defined before analysis begins.
◉ Why specifying the question is important. Answer: If the wrong
question is asked, the analysis will produce useless results.
◉ Example of specifying the question. Answer: Instead of asking
'Why are profits low?' ask 'Did marketing spending affect sales in
Q3?'
◉ Obtain the Data. Answer: Collecting relevant data needed to
answer a business question.
◉ Sources of Data. Answer: Sales records, surveys, customer
databases, website analytics, and financial reports.
◉ Internal Data. Answer: Data collected from within the
organization such as sales data or employee records.
◉ External Data. Answer: Data that comes from outside the
organization such as market research or industry reports.
