Question 6 of 77
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: B

    The Business Model Canvas is a strategic management tool that helps to visualize and describe the different components of a business model. It is especially useful for understanding customer segments, customer relationships, key partnerships, and the company's value proposition. This aligns perfectly with the task force's goal of developing a shared understanding about these aspects of the business.

Question 7 of 77
Insights based on the data collected indicate that a multi-national company could increase its sales of a mature product by reducing its price by 20% which would result in increased revenues of 2% over a 6-month period. The team recommends this as an appropriate goal for its organization.
This is considered a good goal because:
    Correct Answer: A

    A good goal is one that meets all the criteria for a well-defined objective. A well-defined objective is typically specific, measurable, achievable, relevant, and time-bound. In this case, the objective of increasing revenue by reducing the price by 20% fits these criteria as it is clear, quantifiable, achievable based on the data, relevant to the company's goals, and has a specific time frame of 6 months.

Question 8 of 77
As the team discusses how to utilize the results of their data analysis to put forth a business recommendation, an analyst on the team voices concern over the current organizational culture presenting a roadblock to their ability to influence business decision making.
Which of the following would be a justifiable concern at this stage of the team’s efforts?
    Correct Answer: B

    At this stage of the team's efforts, a justifiable concern is changing the mindsets of business stakeholders to trust insights gleaned from data over experience and intuition. Organizational culture heavily influences decision-making processes, and if the stakeholders are not inclined to rely on data-driven insights, it will be challenging for the team to ensure that their recommendations are considered and implemented effectively.

Question 9 of 77
The outcome from an analytics initiative has resulted in key stakeholders wanting to move forward with a project to redesign the company’s website. The business analyst has called a meeting to work on drafting a plan to assess the level of effort required to complete this work. Many of the invited participants redesigned the website before and were invited so they could provide estimates using their knowledge and experience from the past.
The business analyst is using which method to estimate this work?
    Correct Answer: B

    The business analyst is using the Rough order of magnitude (ROM) method to estimate the work. This method involves making high-level, preliminary estimates, often based on historical data or expert judgment from previous, similar projects. In this scenario, inviting participants who have prior experience with similar projects to provide estimates aligns with using a Rough order of magnitude estimate.

Question 10 of 77
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 additional insight by indicating how the attendee performed in comparison to other attendees. Unlike the raw percentage, which only shows the individual's performance in terms of correct answers, the percentile shows the relative position among all test-takers, thereby giving a clearer picture of one's standing.