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Analytics and Customer Behavior Quiz

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Questions and Answers

What is the purpose of analytics in understanding customer behavior?

To tailor offerings and marketing strategies (correct)

To eliminate competition

To reduce customer satisfaction

To increase costs

What does prescriptive analytics do?

Recommends actions to achieve desired results (correct)

Analyzes historical data

Identifies market trends

Summarizes past events

Which of the following is a primary data collection method?

Social media monitoring

Web scraping

Data mining

Surveys and Questionnaires (correct)

What is the Data Privacy Act of 2012 also known as?

RA 10173 Signup and view all the answers

What is one of the obligations under the Data Privacy Act?

Adhere to data privacy principles Signup and view all the answers

What is one benefit of using analytics in businesses?

Cost savings in resource allocation Signup and view all the answers

What does predictive analytics help with?

Making predictions about future outcomes Signup and view all the answers

Which of the following is a data collection method?

Surveys and questionnaires Signup and view all the answers

What is the purpose of the Data Privacy Act of 2012?

To protect personal information Signup and view all the answers

What is one of the major types of analytics?

Descriptive Analytics Signup and view all the answers

Study Notes

Analytics and Customer Behavior

Analytics helps businesses understand customer preferences and behavior.
This understanding allows for tailoring offerings and marketing strategies to improve customer satisfaction.

Types of Analytics

Descriptive Analytics: Summarizes past events and data.
Predictive Analytics: Uses historical data to predict future outcomes.
Prescriptive Analytics: Recommends actions to achieve desired results.

Data Collection Methods

Primary Data Collection: Directly gathered from a source, like surveys or questionnaires.
Secondary Data Collection: Collected from existing sources, like web scraping or data mining.

Data Privacy Act of 2012

Also known as RA 10173
Protects personal information from unauthorized access, use, disclosure, processing, or handling.
Emphasizes consent, accountability, and data subject rights.

Benefits of Analytics

Cost savings: Optimizing resource allocation based on data-driven insights.
Improved customer satisfaction: Tailoring products and marketing to individual customer needs.

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Description

Test your knowledge on analytics and its impact on customer behavior. This quiz covers various types of analytics, data collection methods, and the Data Privacy Act of 2012. Assess how well you understand the benefits and applications of analytics in business.