Business Intelligence and Database Administration Quiz
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Questions and Answers

What is the next step after formulating initial hypotheses in a data analytics project?

  • Data preparation and assessment (correct)
  • Building the model
  • Stakeholder consultation
  • Preliminary data exploration
  • What is the primary objective of Yoyodyne Bank in the provided text?

  • Increase Net Present Value (NPV)
  • Improve customer retention rate (correct)
  • Launch a new product line
  • Expand into new markets
  • What is the main goal of a churn prediction model for Yoyodyne Bank?

  • Expand customer base
  • Increase customer churn rate
  • Reduce customer churn rate (correct)
  • Maintain existing customer base
  • What action should be taken after gathering good quality data when starting to build a model?

    <p>Begin learning the data</p> Signup and view all the answers

    In the context of a data science project, who typically has the final say on the project direction?

    <p>Stakeholders</p> Signup and view all the answers

    What is the purpose of scoping the kind of data needed for a specific problem in data modeling?

    <p>To establish data requirements</p> Signup and view all the answers

    Which phase of the Data Analytics Lifecycle involves aggregating sources for previewing the data and providing a high-level understanding of the data?

    <p>Model Planning</p> Signup and view all the answers

    What immediate action should be taken if a data modeling attempt fails?

    <p>Refine analytic plan</p> Signup and view all the answers

    What is the key objective of establishing an effective marketing campaign targeting customers for Yoyodyne Bank?

    <p>Reduce the churn rate by at least five percent</p> Signup and view all the answers

    What is the significance of preliminary data exploration in a data analytics project?

    <p>To inform discussions with stakeholders during hypothesis forming</p> Signup and view all the answers

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