Advanced Business Analytics - Power of Predictive Modeling
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Questions and Answers

What is the main focus of advanced business analytics?

  • Data collection and management (correct)
  • Dashboard tools for business reporting
  • Web analytics and marketing research
  • Survival analysis and drug development

    • Why is data considered an asset for a company?

  • It is used primarily for marketing campaign management
  • It relies solely on the Analytical department
  • It impacts the competitiveness, services, and profits of the company (correct)
  • It requires extensive management and resources

    • Which of the following is NOT an example of the scope of advanced business analytics?

  • Marketing campaign management
  • Customer retention
  • Survival analysis
  • Dashboard tools for business reporting (correct)

    • What is equally important in advanced business analytics as the analytical methods?

    <p>Data quality</p> Signup and view all the answers

    What aspect does advanced business analytics cover, according to the given text?

    <p>Data collection, statistical modeling, and reporting</p> Signup and view all the answers

    Which topic is covered in the class schedule of Advanced Business Analytics?

    <p>Data management and data quality</p> Signup and view all the answers

    What is the focus of the topic 'Mixed models for longitudinal data'?

    <p>Analyzing data from different time points for the same subject</p> Signup and view all the answers

    What is the purpose of 'Quantile regression' in business analytics?

    <p>To model the relationship between predictors and specific quantiles of the response variable</p> Signup and view all the answers

    What does 'Adaptive regression for longitudinal data' aim to achieve?

    <p>Detecting outliers and shifts in time series using regression techniques</p> Signup and view all the answers

    What is the primary focus of 'Lifetime Value Models with Data Mining Approach'?

    <p>Estimating the value of a customer over their entire relationship with a business using data mining techniques</p> Signup and view all the answers

    What is the main focus of advanced business analytics?

    <p>Integration of various data sources and addressing forward-looking business questions</p> Signup and view all the answers

    Why is data considered an asset for a company?

    <p>All of the above</p> Signup and view all the answers

    Which topic is covered in the class schedule of Advanced Business Analytics?

    <p>All of the above</p> Signup and view all the answers

    What does 'Adaptive regression for longitudinal data' aim to achieve?

    <p>Predictive modeling only</p> Signup and view all the answers

    What is equally important in advanced business analytics as the analytical methods?

    <p>Quality of data</p> Signup and view all the answers

    What is the key focus of 'Quantile regression' in the context of the class schedule?

    <p>Modeling the median of a dependent variable</p> Signup and view all the answers

    What is the primary purpose of 'Adaptive regression for longitudinal data' as discussed in the class schedule?

    <p>Modeling shifts in the mean of a dependent variable across time periods</p> Signup and view all the answers

    What is the significance of 'Mixed models for longitudinal data' in the field of business analytics?

    <p>Incorporating both fixed and random effects in longitudinal analysis</p> Signup and view all the answers

    What does 'Likelihood-based approach to missing data' primarily aim to achieve in business analytics and predictive modeling?

    <p>Imputing missing values using maximum likelihood estimation</p> Signup and view all the answers

    How does 'Segmentation models' contribute to advanced business analytics and predictive modeling?

    <p>Identifying clusters and subgroups within a dataset based on demographic information</p> Signup and view all the answers

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