CCW331 - Business Analytics-2 marks& 16 marks QB

business analytics (Anna University)

 CCW331- Business Analytics
Question Bank
UNIT-1
PART – A

1. What is Data Science & Analytics? (Remember)

Data science is a multi-disciplinary blend that involves algorithm development, data
inference, and predictive modeling to solve analytically complex business problems.

2. What is difference between data analytics and data science? (Remember)

Data science is an umbrella term for a group of fields that are used to mine large
datasets. Data analytics software is a more focused version of this and can even be
considered part of the larger process. Analytics is devoted to realizing actionable
insights that can be applied immediately based on existing queries.

3. What is business analytics life cycle? (Remember)

The data analytics lifecycle is a circular process that consists of six basic stages that
define how information is created, gathered, processed, used, and analyzed for
business goals.

4. What are the phases of analytics? (Remember)

Descriptive, diagnostic, predictive and prescriptive.

5. What are the three types of analytics? (Remember)

There are three types of analytics that businesses use to drive their decision making;
descriptive analytics, which tell us what has already happened; predictive analytics,
which show us what could happen, and finally, prescriptive analytics, which inform
us what should happen in the future.

6. What is a business problem? (Remember)

Business problems are current or long term challenges and issues faced by a business.
These may prevent a business from executing strategy and achieving goals. In some
cases, business problems also threaten the long term survival of a firm.

7. What do you mean by data collection? (Remember)

Data collection is the process of gathering and measuring information on variables of
interest, in an established systematic fashion that enables one to answer stated
research questions, test hypotheses, and evaluate outcomes.

8. What is types of data collection? (Remember)

primary data collection, and secondary data collection methods.
9. What is data preparation process? (Remember)
 Data preparation is the process of gathering, combining, structuring and organizing
data so it can be used in business intelligence (BI), analytics and data visualization
applications.

10. How do you write a generation hypothesis? (Remember)

1. Don't just choose a topic randomly. Find something that interests you.
2. Keep it clear and to the point.
3. Use your research to guide you.
4. Always clearly define your variables.
5. Write it as an if-then statement.

11. Why is there a need to generate a hypothesis? (Remember)

A hypothesis is a statement that can be tested by scientific research. If you want to
test a relationship between two or more variables, you need to write hypotheses before
you start your experiment or data collection.

12. What is the concept of modelling? (Remember)

The act or an instance of making a model. the practice or occupation of a person who
models clothes. a technique in psychotherapy in which the therapist encourages the
patient to model his behaviour on his own.

13. What is the difference between model validation and evaluation? (Remember)
Evaluation is part of the training phase. It is done with the training data: You select an
algorithm, train it on the training data and then compare its performance to other
models.

14. Why do we use model validation? (Remember)

The purpose of model validation is to check the accuracy and performance of the
model basis on the past data for which we already have actuals.

15. What is interpretation example? (Remember)

The definition of an interpretation is an explanation of a view of a person, place,
work, thing, etc. An example of interpretation is a feminist perspective on a work of
literature.

16. What is iteration in business analysis? (Remember)

Iterative development, however, is a cyclical methodology that promotes constant
improvement. It is the nature of business analytics that once one project is complete it
often spawns an understanding of new requirements and derivative solutions that start
the iterative process once again.

17. What is business deployment plan? (Remember)

A deployment plan is a process that helps ensure a software application is ready for
distribution by giving team members information about backup plans, security and
the specific role of each employee who's involved. In deployment plans, employees
try to create a smooth client experience.

PART – B
1. What are the distinguishing features of Hypothesis Generation? Explain in Detail.
(Remember)
2. Discuss in detail about the Various Stages in Deployment and Iteration. (Create)
3. Illustrate briefly the concept of Data Collection and preparation. (Understand)
4. Discuss in detail about the steps involved in Analytics life Cycle. (Remember)
5. Write the Short Notes on
1) Modeling
2) Validation and Evaluation
6. Define the term Analysis and data Science. Write in detail notes on types of analytics.
(Remember)

PART – C

1. Explain the different types of Analytics with an example for each. (Understand)
2. Write a short note on Hypothesis generation and the factors involved in hypothesis
generation. (Understand)
3. Analyse the graph given below and write the interpretation. (6) (Create)

4. Discuss the need and relevance of Business Analytics in the present business
scenario. Explain by citing examples. (Analyze)

UNIT-II

PART – A

1. What is a data mart vs data warehouse? (Remember)

 A data mart is similar to a data warehouse, but it holds data only for a specific
department or line of business, such as sales, finance, or human resources. A data
warehouse can feed data to a data mart, or a data mart can feed a data warehouse.

2. What is the difference between data warehouse VS data mart vs data mining?
(Remember)
Data Warehouse is the type of database which is data-oriented in nature. while Data
Mart is the type of database which is the project-oriented in nature.

3. What is knowledge management in data analytics? (Remember)

Data and knowledge management (DKM) systems collect, manage, and provide
controlled access to data and knowledge resources. These systems may also provide
critical analytical and visualization capabilities to support research and decision
processes. Data within the DKM may be at any stage of its lifecycle.

4. What is business analytics and business intelligence solutions? (Remember)

Analytics and business intelligence (ABI) is an umbrella term that includes the
applications, infrastructure and tools, and best practices that enable access to and
analysis of information to improve and optimize decisions and performance.

5. How is business analytics used in decision-making? (Remember)

Business analytics help organizations to reduce risks. By helping them make the right
decisions based on available data such as customer preferences, trends, and so on, it
can help businesses to curtail short and long-term risk.

6. How does analytics influence decision-making? (Remember)

Increases consistency. The use of data in decision-making processes ensures that the
business agrees on results. This approach helps people understand how decisions are
made. They can determine the implications of the data being collected and analyzed,
and take appropriate action.

7. What is the process of business analytics? (Remember)

Business analytics is the process of inspecting the gigantic and motley data sets,
commonly known as “Big Data”, to divulge the varied connections, correlations,
trends, partnerships, customer behavior, statistical patterns, and other meaningful
interferences that aid organizations to make better business decisions.

8. What are the four phases of the business analytics process? (Remember)
Descriptive, Diagnostic, Predictive, and Prescriptive.

9. What are the various tools used to support business analytics? (Remember)

 SAS Business Analytics (SAS BA)

 QlikView.
 Board.
 Splunk.
 Sisense.
 Microstrategy.
  KNIME.
 Dundas BI.
 Power BI
 Tableau
 Google Analytics

10. List the three main components of business analytics. (Remember)

There are three types of analytics that businesses use to drive their decision making;
descriptive analytics, which tell us what has already happened; predictive analytics,
which show us what could happen, and finally, prescriptive analytics, which inform
us what should happen in the future.

11. What is the difference between data science and business intelligence?
(Remember)
Business Intelligence (BI) and data science are both data-focused processes, but there
are some key differences between the two. In general, business intelligence focuses on
analyzing past events, while data science aims to predict future trends.

12. Why analytics is important in business? (Remember)

Business analytics help organizations to reduce risks. By helping them make the right
decisions based on available data such as customer preferences, trends, and so on, it
can help businesses to curtail short and long-term risk.

13. What is OLAP and OLTP? (Remember)

OLAP is designed to analyze multiple data dimensions at once, helping teams better
understand the complex relationships in their data.

14. Give an example for OLTP . (Understand)

An OLTP system is a common data processing system in today's enterprises. Classic
examples of OLTP systems are order entry, retail sales, and financial transaction
systems.

15. Mention the types of analytic function. (Remember)

The analytic function is classified into two different types, such as real analytic
function and complex analytic function. Both the real and complex analytic functions
are infinitely differentiable.

16. How do you know if a function is analytic? (Understand)

A function f(z) is said to be analytic in a region R of the complex plane if f(z) has a
derivative at each point of R and if f(z) is single valued. A function f(z) is said to be
analytic at a point z if z is an interior point of some region where f(z) is analytic.

PART – B

1. Explain about Data Warehousing and Data Mart. (Understand)

2. Discuss in detail about Knowledge management. (Remember)
3. Briefly write in detail about Decision Making Process. (Understand)
 4. Explain about Decision support Systems. (Understand)
5. Write a short notes on OLAP. (Remember)
6. Discuss in briefly about Business Intelligence. (Understand)

PART – C

1. How Business Analytics impact decision making in business and its types.
(Analyse)
2. Explain Logistic Regression with an example. How does it differ from Linear
Regression? (Analyse)

UNIT-III

PART – A

1. What are the types of business forecasting? (Remember)

There are two main methods for business forecasting: market surveys and formulas
and analysis of past and present data. When a business doesn't have enough past data
to create a prediction, business leaders may instead conduct market research through
surveys, focus groups, polling, and observation.

2. What are the three types of forecasting? (Remember)

There are three basic types—qualitative techniques, time series analysis and
projection, and causal models.

3. Define predictive analytics. Give an example. (Remember)

 Predictive analytics models may be able to identify correlations between sensor
readings. For example, if the temperature reading on a machine correlates to the
length of time it runs on high power, those two combined readings may put the
machine at risk of downtime. Predict future state using sensor values.

4. What kinds of problems can be solved by predictive analytics? (Remember)

Predictive Analytics for Business reduces uncertainty. Also, it gives you a better view
of the situation. Furthermore, it can predict certain outcomes so that businesses can
make correct decisions. Businesses use predictive analytics to forecast whether
customers are likely to switch to a competitor, what customers are likely to buy and
how.

5. What is difference between prediction and forecasting? (Remember)

The only difference between forecasting and prediction is the explicit addition of
temporal dimension in forecasting. Forecast is a time-based prediction i.e. it is more
appropriate while dealing with time series data.

6. How accurate is predictive analytics? (Remember)

According to a report by KPMG, most do not. More than half of the CEOs “less
confident in the accuracy of predictive analytics compared to historic data,” according
to the report, 2018 Global CEO Outlook.

7. What are logic driven models? (Remember)

A logic-driven is based on experience, knowledge and logical relationships of variable
and constants connected to the desired performance outcome. To help conceptualize
the relationships inherent in a system, diagramming methods are useful.

8. What is the difference between first principle models and data driven models?
(Remember)
In terms of simulation, first-principle models provide extrapolation in addition to the
interpolation provided by data-driven models. But they also can be used for
monitoring, control and optimization.

9. What are data driven predictive model? (Remember)

Data-driven predictive models can help companies solve long-standing problems in
new ways. Equipment manufacturers, for example, can find it hard to innovate in
hardware alone. Product developers can add predictive capabilities to existing
solutions to increase value to the customer.

10. What is data mining and predictive Modeling? (Remember)

Predictive modelling is a commonly used statistical technique to predict future
behavior. Predictive modelling solutions are a form of data-mining technology that
works by analyzing historical and current data and generating a model to help predict
future outcomes.

11. Give an example for predictive modeling examples. (Remember)

 Examples include using neural networks to predict which winery a glass of wine
originated from or bagged decision trees for predicting the credit rating of a borrower.
Predictive modeling is often performed using curve and surface fitting, time series
regression, or machine learning approaches.

12. Why data mining is essential tool for prediction applications? (Remember)
It helps businesses make informed decisions. It helps detect credit risks and fraud. It
helps data scientists easily analyze enormous amounts of data quickly. Data scientists
can use the information to detect fraud, build risk models, and improve product safety.

13. What are the two types of predictive modeling? (Remember)

Regression and neural networks are two of the most widely used predictive modelling
techniques. Other techniques include time series data mining, decision trees, and
Bayesian analysis.

14. Is machine learning is used for predictive analytics? (Understand)

Machine learning is a quick primer. Predictive Analytics (PA) and Machine Learning
(ML) are powerful tools for uncovering insights in large volumes of data. Many
organizations use machine learning for personalizing consumers' website experiences
and predictive analytics for forecasting outcomes of campaigns.

15. Which kind of data is used in by predictive algorithms? (Remember)

Predictive algorithms use one of two things: machine learning or deep learning. Both
are subsets of artificial intelligence (AI). Machine learning (ML) involves structured
data, such as spreadsheet or machine data.

16. Which ML algorithm is best for prediction? (Remember)

Naive Bayes is a simple but surprisingly powerful algorithm for predictive modeling.
The model consists of two types of probabilities that can be calculated directly from
your training data: 1) The probability of each class; and 2) The conditional probability
for each class given each x value.

PART – B
:
1. Explain in detail about Business forecasting and Predictive analytics Methods.
(Remember)
2. Discuss in detail about Logic and Data Driven Models. (Understand)
3. Write in detail about Data Mining Methods. (Remember)
4. Explain about Predictive Analysis Modeling methods. (Remember)
5. Explain about Machine Learning for Predictive analytics. (Understand)

PART – C

1. Toys Unlimited Ltd., must forecast sales for a popular adult computer game to avoid
stock outs or excessive inventory charges during the upcoming Christmas season. In
percentage terms,
thecompanyestimatesthatgamesalesfallatdoubletherateofpriceincreasesandthatthey
 grow at triple the rate of customer traffic increases. Furthermore, these effects seem to be
independent

A. Write an equation for estimating the Christmas season sales, using the variables S =
sales, P = price, T = traffic, and t = time.

B. Forecast this season’s sales if Toys Unlimited sold 10,000 games last season at
$15each this season’s price is anticipated to be $16.50, and customer traffic is expected to
rise by 15% over previous levels . (Analyse)

UNIT-IV
PART – A

1. What is the role of HR in supply chain management? (Remember)

To ensure that the employee will be able to offer high-quality work, the HR needs
to assess the supply chain knowledge of the employee. For that, the HR team often
spends some time understanding about the services and products that are released in
the market.

2. How can HR analytics ensure value addition to an HR department? (Remember)

HR Analytics helps to make predictive analysis better and prevents them from making
mistakes, as it can assist the HR professionals recruit better candidates. It helps them
to learn more about the candidates and their background through the available online
data and social media channels.

3. What is recruitment and planning? (Remember)

A recruitment plan is a properly defined strategy for attracting, hiring, and on
boarding the right talent. A strategic recruitment plan will typically cover: Your
recruitment goals. Headcount planning. Ideal candidate profiles.

4. What is recruitment strategy? (Remember)

 A recruitment strategy is a clear-cut hiring plan that defines the roles your company
plans to recruit for, when and where those job opportunities will be posted, and the
evaluation strategies through which you'll identify top candidates.

5. What are the five processes in training and development? (Remember)

Training can be viewed as a process comprised of five related stages or activities:
assessment, motivation, design, delivery, and evaluation.

6. What is the role of training and development program? (Remember)

Training and development programs provide a host of benefits. They enhance
employee performance, boost employee productivity, reduce employee turnover, and
improve company culture. Explore the importance of training and development
programs for employees and employers by pursuing a career in human resources.

7. What are the four training steps? (Remember)

 Skills Gap Analysis. Before getting started, it's crucial to identify key areas
that need attention.
 Set Objectives & Define Your Strategy.
 Invest in the Right Resources.
 Test, Measure, and Repeat

8. What is meant by supply chain network? (Remember)

A supply chain is a network between a company and its suppliers to produce and
distribute a specific product to the final buyer. This network includes different
activities, people, entities, information, and resources.

9. What are the difference between supply chain and supply network? (Remember)
A supply chain is a special instance of a supply network in which raw materials,
intermediate materials and finished goods are procured exclusively as products
through a chain of processes that supply one another.

10. What is planned demand? (Remember)

Demand planning is a supply chain management process that enables a company to
project future demand and successfully customize company output — be it products
or services — according to those projections.

11. What is demand planning vs forecasting? (Remember)

Demand forecasting is an exercise to determine what is likely to happen, while
demand planning is the operationalization to make it happen. It's taking that forecast
and ensuring that each segment of the supply chain operates accordingly, with the
most efficiency and least cost.

12. What is supply and inventory management? (Remember)

Inventory management controls all stock within a company. Supply chain
management manages the process from supplier to delivering the product to the
customer. Warehouse management is a part of inventory control and focuses on stock
in a specific location.

13. What is the role of inventory in supply chain? (Remember)

 As part of the supply chain, inventory management includes several different aspects
such as controlling and overseeing purchases from suppliers and customers,
maintaining the storage of stock, controlling the amount of product for sale and order
fulfilment.

14. What you mean by logistics? (Remember)

Logistics is the process of planning and executing the efficient transportation and
storage of goods from the point of origin to the point of consumption. The goal of
logistics is to meet customer requirements in a timely, cost-effective manner.

15. Give examples for logistics. (Remember)

The definition of logistics is the act of coordinating complex movements or projects
or solving complex problems. An example of logistics is when you coordinate a
military invasion. The aspect of military operations that deals with the procurement,
distribution, maintenance, and replacement of materiel and personnel.

16. What does analytics mean in HR? (Remember)

HR analytics (also known as people analytics) is the collection and application of
talent data to improve critical talent and business outcomes. HR analytics leaders
enable HR leaders to develop data-driven insights to inform talent decisions, improve
workforce processes and promote positive employee experience.

PART – B

1. What is human Resource Planning? Explain the Significance of Planning human

resource. (Remember)
2. Elaborate various stages in the process of selection with examples. (Understand)
3. Discuss the different types of supply Chain Management. (Remember)
4. Write about the transaction risk in international supply chain management.
(Remember)
5. What are the purchasing issues in supply management? (Understand)
6. Enumerate the review and establish supply chain strategies. (Understand)

PART – C

1. Case study: Coca-Cola Amatil is the largest bottler and distributor of non-alcoholic,
bottled beverages in the Asia Pacific, and one of the largest bottlers of Coca-Cola
products in the region.
How Trax Image Recognition for Retail is being used:
 Prior to using Trax's imaging technology, Coca-Cola Amatil was relying
on limited and manual measurements of products in store, as well as
delayed data sourced from phone conversations.
  Coca-Cola Amatil sales reps used Trax Retail Execution image-based
technology to take pictures of stores shelve with their mobile devices;
these images were sent to the Trax Cloud and analyzed, returning
actionable reports within minutes to sales reps and providing more detailed
online assessments to management.
Value proposition:
 Real-time images of stock allowed sales reps to quickly identify
performance gaps and apply corrective actions in store. Reports on shelf
share and competitive insights also allowed reps to strategize on
opportunities in store and over the phone with store managers.
 Coca-Cola Amatil gained 1.3% market share in the Asia Pacific region
within five months.

Global Tech LED is a LED lighting design and supplier to U.S. and intemational
markets, specializing in LED retrofits and fixtures for commercial spaces.

How Google Analytics is being used:

 Google Analytics' Smart Lists were used to automatically identify Global
Tech LED prospects who were "Most Likely to Engage", and to then
remarket to those users with more targeted product pages.
 Google's Conversion Optimizer was used to automatically adjust potential
customer bids for increased conversions.
Value proposition:
 Remarketing campaigns triggered by Smart Lists drove 5 times more clicks
than all other display campaigns.
 The click-through rate of Global Tech LED's remarketing campaigns was
more than two times the remarketing average of other campaigns.
 Traffic to the company's website grew by more than 100%, and was able to re-
engage users in markets in which it was trying to make a dent, including South
Asia, Latin America, and Westerm Europe.
 Use of the Conversion Optimizer allowed Global Tech LED to better allocate
marketing costs based on bid potential.
Case Questions:
a. Discuss how Coca-Cola Amatil used Trax Retail Execution image-based
technology . (Evaluate)
b. Discuss the value proposition of Google's analytical platform used by Global
Tech LED . (Evaluate)
 UNIT-V
PART –
A

1. What are the 4 types of marketing strategies? (Remember)

Product, price, promotion, and place form the four Ps of the marketing mix.

2. Give an example for marketing strategy. (Remember)

One of their best marketing strategies is how they make it easy for their customers to
share branded user-generated content. For example, GoPro's editing programs create
videos with easily recognizable start and end frames that feature GoPro's logo and
branding.
3. What is the main marketing strategy? (Remember)
A marketing strategy contains the company's value proposition, key brand messaging,
data on target customer demographics, and other high-level elements. A thorough
marketing strategy covers the four Ps of marketing: product, price, place, and
promotion.
these results, it becomes easier to make data-driven business decisions.
3. Why marketing strategy is important? (Remember)
Every business should have a marketing strategy, no exceptions. Marketing results
don't just happen by chance. Creating a strategy ensures you're targeting the right
people, with relevant content that appeals to them. The more time you spend creating
a clear strategy, the more opportunities you create to sell.

4. Give an example for marketing mix. (Remember)

Dollar Tree leverages price as a factor by pricing everything in the store at $1 or
lower. This sends a strong signal to their target consumer that they'll save money by
shopping at their stores. Another example of marketing mix is Tiffany & Co.

5. What is the role of marketing mix? (Remember)

The marketing mix is a tool used to help brands understand what elements must be
combined in order to meet their marketing goals and objectives. Ultimately, this
includes the 4 Ps of marketing: product, price, place and promotion.

6. What is meant by customer behavior? (Remember)

What Is Consumer Behavior? Consumer behavior is the analysis of how consumers
make decisions about what to buy, when to buy it, and how to do so.

7. Why consumer behaviour important is important? (Remember)

Consumer behaviour is crucial for marketers to perform their duties effectively.
Marketers should have perfect knowledge of their target customers buying behaviour.
It will help them in understanding their likes and dislikes and also the factors
influencing their buying decisions.

8. What is a selling process in marketing? (Remember)

The selling process is defined as a process by which a salesperson identifies and
locates the prospects, separates the prospects from the suspects, approaches them and
makes a sales presentation, handles their objections, and closes a sale.

9. Define effective selling (Remember)

Effective selling is the ability to lead a person or group of people toward a mutually
beneficial transaction. Salespeople are persuasive communicators who reach people
listening to them, empathizing with their needs or wants an
by actively d helping them
 solve a problem or reach a goal.

10. What is sales planning process? (Remember)

Sales planning is the process of defining sales targets and creating a strategy that
meets goals and achieves sales and marketing results. The sales plan works in
collaboration with the marketing plan and the business plan.

11. What is importance in sales planning? (Remember)

Sales planning is important because it helps your foresee potential risks so that you
can try and mitigate them beforehand. It not only helps you formulate a battle plan
but also puts you in control by helping you determine your product's current status,
where you want to take it, and how you will take there.

12. How business analytics can be used in marketing and sales? (Remember)
The more marketers know about their customers, the more they will be able to
optimize spending and improve the user experience. Using business analytics in
marketing helps companies target customer needs by focusing their messaging or
timing of a certain product or service on what is best for the consumer.

13. How might analytics be used in making and marketing a new product?
(Remember)
Marketers can use the insights garnered from data analytics to evaluate ad campaigns,
personalize content, create advertising and content strategies, develop products, and
augment business performance to improve marketing ROIs.
14. What are the types of marketing analytics? (Remember)
Descriptive analytics.
Predictive analytics.
Prescriptive analytics.

15. What is digital analytics marketing? (Remember)

Digital analytics helps you harness the power of customer data to guide product
strategy and marketing. Digital analytics is the process of collecting and analyzing
product data from multiple digital sources to inform product and marketing strategies.
 PART – B
1. (a) Explain the functions of Marketing. (6) (Understand)
(b) What are the factors to be considered under marketing environment Analysis?
Explain (10 marks) (Remember)

2. (a) Describe Nicosia Model of Consumer Behaviour. (6) (Remember)

(b) Explain the Various factors, which affect the consumer buying behaviour. (10)
(Create)
3. Explain the Steps in Marketing Planning. (16) (Understand)
4. Briefly explain the different types of pricing. (16) (Understand)
5. What is Market Segmentation? Explain the basis for segmentation.(16) (Understand)

PART – C

1. Describe marketing to the 21st Century Customers in detail. (16) (Create)

2. Explain the stages of new products Development. (16) (Understand)