The results for a certification exam were revealed in percentage and percentile. The results for one of the attendees was: 75%, 90th percentile. What is the value in sharing the percentile score?
Correct Answer: C
The percentile score provides value by ranking the attendee's score among all the scores of the exam takers. A percentile score of 90 means that the attendee scored higher than 90% of the exam takers, and only 10% scored higher than the attendee. This gives a relative measure of how the attendee performed in comparison to other attendees, and how competitive or exceptional the score is. The percentile score does not depend on the average or the highest possible score of the exam, but only on the distribution of the scores of the exam takers. References: *Business Analysis Certification in Data Analytics, CBDA | IIBA®, CBDA Competencies, Domain 4: Interpret and Report Results *Understanding the Guide to Business Data Analytics, page 9 *What is a Percentile? - Statistics By Jim
CBDA Exam Question 27
An online retailer has been successful utilizing analytics to guide decisions on product placement and marketing spend. Management has requested a task force be assembled to make recommendations on how to further develop their analytics capabilities. To begin this work, the task force builds a model to develop a shared understanding about customer segments, customer relationships, key partnerships, and the company's value proposition. The team has leveraged the following model to facilitate this discussion?
Correct Answer: C
The business model canvas is the model that the task force has leveraged to facilitate the discussion, because it is a technique that describes the logic of how an organization creates, delivers, and captures value. The business model canvas consists of nine building blocks that cover the key aspects of a business: customer segments, value proposition, channels, customer relationships, revenue streams, key resources, key activities, key partnerships, and cost structure. The business model canvas can help the task force develop a shared understanding of the current state of the online retailer, and identify the opportunities and challenges for developing their analytics capabilities. References: *Business Analysis Certification in Data Analytics, CBDA | IIBA®, CBDA Competencies, Domain 6: Guide Organization-level Strategy for Business Analytics *Understanding the Guide to Business Data Analytics, page 9 *10.8 Business Model Canvas | IIBA®
CBDA Exam Question 28
An analyst is looking at a particular dataset that includes the scores across all 8th grade students, across three schools. The analyst is trying to determine which type of statistics average to use to best represent the results. On looking through the dataset, the analyst has identified a few extreme outliers. As a result, the analyst was led to use the following type of average:
Correct Answer: A
Explanation The median is the type of statistics average that the analyst should use to best represent the results, because it is a measure of central tendency that divides the data set into two equal halves. The median is the middle value of the data set when it is arranged in ascending or descending order. The median is not affected by extreme outliers, unlike the mean, which is the arithmetic average of the data set. The median can give a more accurate representation of the typical score of the 8th grade students across the three schools. Options B, C, and D are not types of statistics average, but types of statistics measures that describe other aspects of the data set. The range is a measure of dispersion that shows the difference between the highest and the lowest values of the data set. The mean is a measure of central tendency that shows the sum of the values of the data set divided by the number of values. The mode is a measure of central tendency that shows the most frequent value of the data set. References: *Business Analysis Certification in Data Analytics, CBDA | IIBA®, CBDA Competencies, Domain 3: Analyze Data *Understanding the Guide to Business Data Analytics, page 17 *Business Data Analytics (IIBA®-CBDA Exam preparation) | Udemy, Section 3: Analyze Data, Lecture 13: Descriptive Statistics
CBDA Exam Question 29
While sourcing data, an analyst runs into a situation where different business units are usingdifferent names to refer to the same data element. This lack of standardization is resulting in confusion and additional time required to properly prepare data for analysis. Which practice, if implemented would address this situation and mature the organization's business analytics practice?
Correct Answer: D
Meta data management is the practice that, if implemented, would address the situation and mature the organization's business analytics practice, because it is a technique that involves defining, documenting, and maintaining the information about the data elements, such as their names, definitions, formats, sources, and relationships. Meta data management can help the analyst resolve the inconsistencies and ambiguities in the data element names, and ensure that the data is standardized, consistent, and understandable across different business units. Meta data management can also help the analyst improve the data quality, accessibility, and usability for the analysis. References: *Business Analysis Certification in Data Analytics, CBDA | IIBA®, CBDA Competencies, Domain 2: Source Data *Guide to Business Data Analytics - Iiba - Google Books, page 14 *Business Data Analytics (IIBA®-CBDA Exam preparation) | Udemy, Section 2: Source Data, Lecture 8: Meta Data Management
CBDA Exam Question 30
Based on the financial analysis that's been completed by the analytics team, the business analysis professional reminds the team that the most financially feasible option is the one with the:
Correct Answer: B
The most financially feasible option is the one that maximizes the return on investment (ROI), the present value (PV), and the net present value (NPV), and minimizes the payback period. ROI measures the annual percentage return of an investment, PV measures the current value of future cash flows, NPV measures the difference between the PV and the initial cost of an investment, and payback period measures the time it takes to recover the initial cost of an investment. A higher ROI, PV, and NPV indicate a more profitable and valuable investment, while a lower payback period indicates a faster recovery and lower risk of an investment