Free IIBA CBDA Practice Exam with Questions & Answers | Set: 3

According to the Guide to Business Data Analytics, a change strategy is a document that outlines the approach and plan for managing the change resulting from the data analysis and the proposed solution. A change strategy should include the following elements: the vision and objectives of the change, the scope and impact of the change, the stakeholders and their roles and responsibilities, the communication and engagement plan, the training and development plan, the transition and implementation plan, the risk and issue management plan, and the evaluation and measurement plan. A change strategy can help ensure that the change is aligned with the business goals, that the stakeholders are informed and involved, that the risks and issues are identified and mitigated, and that the benefits and outcomes are realized and sustained.

References:Guide to Business Data Analytics, page 84-85;CBDA Exam Blueprint, page 8; [Introduction to Business Data Analytics: A Practitioner View], page 26.

According to the Guide to Business Data Analytics, one of the tasks under the domain of “Identify the Research Questions” is to identify sources of business information to consider. This task involves reviewing existing business information, such as documents, reports, databases, and systems, to determine what data is available, relevant, and reliable for answering the research questions. This task also involves identifying any gaps or limitations in the existing information and proposing ways to address them.

References: Guide to Business Data Analytics, page 18-19; CBDA Exam Blueprint, page 6.

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According to the Guide to Business Data Analytics, the business analytics cycle is an iterative process that consists of four phases: identify the research questions, source data, analyze data, and interpretand report results. The cycle can be repeated as many times as needed until the business problem or opportunity is addressed or resolved. In this situation, the team was confident with the results but also surprised that the outcome was not what was expected. This means that the initial research question may not have been relevant, specific, or testable enough to provide a feasible solution for the business need. Therefore, a logical next step would be to repeat the business analytics cycle with the formation of a new research question that is more aligned with the business goal, scope, and context.

References: Guide to Business Data Analytics, page 47-48; CBDA Exam Blueprint, page 7; [Introduction to Business Data Analytics: A Practitioner View], page 15.

The analytics team found a correlation between the age of the customer and the price of the neckties purchased, meaning that as one variable changes, the other tends to change in the same direction. However, this correlation does not imply causation, meaning that one variable does not necessarily cause the other to change. There could be other factors, such as income, preference, or quality, that affect both variables and create a spurious relationship. Therefore, the team realized that they need to investigate further to determine if there is a causal link between the variables, or if the correlation is coincidental12 References: 1: Correlation vs. Causation | Difference, Designs & Examples - Scribbr 2: Correlation vs Causation: Understanding the Differences - Statistics By Jim

According to the Business Data Analytics: A Decision-Making Paradigm1, one of the key steps in the analytics process is to communicate insights and recommendations to stakeholders. The analyst should present the findings in a clear and concise manner, and provide actionable suggestions to improve the business outcomes. In this case, the analyst has identified that repeat visitors are not completing a sale, which indicates a possible issue with the sales checkout process. Therefore, the analyst should recommend the retailer to streamline the sales checkout process, which could reduce friction, increase customer satisfaction, and boost sales conversion rates for repeat visitors. References: Business Data Analytics: A Decision-Making Paradigm

The question “Given that you’re a customer, would you work at our company?” is unclear, because it is a hypothetical and subjective question that does not specify the purpose, scope, or context of the analysis. The question also does not define what constitutes a customer, or how the customer’s experience or satisfaction relates to the employee’s motivation or performance. The question needs to be refined and clarified to make it more focused, relevant, and feasible for the analytics team to answer. For example, the question could be rephrased as “How does the customer satisfaction score affect the employee retention rate in our company?” References:

•Business Analysis Certification in Data Analytics, CBDA | IIBA®, CBDA Competencies, Domain 1: Identify the Research Questions

•Understanding the Guide to Business Data Analytics, page 10-11

•CERTIFICATION IN BUSINESS DATA ANALYTICS HANDBOOK - IIBA®, page 8, CBDA Exam Sample Questions and Self-Assessment, Question 16

Prescriptive analytics is the type of analytics that the retailer is using to maintain their pricing structure, because it is a technique that uses data and models to recommend the best course of action for a given situation. Prescriptive analytics can help the retailer optimize their prices based on the data collected from the competitors, the market conditions, and the customer preferences, and thus achieve their strategic goal of becoming the market leader. References:

•Business Analysis Certification in Data Analytics, CBDA | IIBA®, CBDA Competencies, Domain 3: Analyze Data

•Understanding the Guide to Business Data Analytics, page 17

•CERTIFICATION IN BUSINESS DATA ANALYTICS HANDBOOK - IIBA®, page 8, CBDA Exam Sample Questions and Self-Assessment, Question 11

Benchmarking is a method of comparing the performance of a business with others in the same industry or with industry standards12. It helps to identify areas of improvement and best practices for superior performance34. A research question that is framed using the results from benchmarking would focus on how the company compares to its competitors or to the industry average on a specific metric or process. For example, how efficient is the company compared to its competitors? This question would require the company to measure its efficiency using a relevant indicator, such as cost per unit, time per task, or output per employee, and compare it to the same indicator for its competitors. This would help the company to identify its strengths and weaknesses, and to find ways to improve its efficiency and gain a competitive advantage

A Data Flow Diagram (DFD) is a technique that shows the flow of data among processes, data stores, and external entities in a system. DFDs can be categorized as logical or physical, depending on the level of detail and abstraction. A logical DFD focuses on the business functions and data flows, without specifying the implementation details. A physical DFD shows the actual componentsand mechanisms that are involved in the data flow, such as hardware, software, files, and network connections. References:

•10.13 Data Flow Diagrams | IIBA® - International Institute of Business …, menu, 10.13 Data Flow Diagrams

•Business Analysis Certification in Data Analytics, CBDA | IIBA®, CBDA Competencies, Domain 2: Source Data

•Introduction to Business Data Analytics: Organizational View, page 16, Figure 6: Data Flow Diagram

A scatterplot is a type of chart that shows the relationship between two variables by plotting data points on a two-dimensional plane. A scatterplot can help the professor to understand the normal tendency and outliers of exam performance results over the past 5 years by displaying the distribution, trend, and correlation of the data. For example, the professor can use the x-axis to represent the year and the y-axis to represent the exam score, and see how the scores vary over time and across different exams. Outliers can be identified as data points that are far away from the main cluster or the line of best fit12 References: 1: Scatter Plot - Statistics How To 2: Scatterplots - IIBA BABOK Guide v3