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Chapter10 Testbank
Chapter10:MarketingAnalytics
MultipleChoice
Datathatarehighlyorganizedandcanberepresentedastablesmadeupofrows(observationsforasingleunitofthepopulation)andcolumnsissaidtobe_____.
a. orderly
b. normal
c. demographic
d. structured
e. Noneofthese
Answer:d
Thediscovery,interpretation,andcommunicationofmeaningfulpatternsindataiscalledmarketing_____.
a. research
b. analysis
c. patterns
d. database
e. analytics
Answer:e
Therearefour“act”mightbeconsideredpartofthemarketinganalyticsprocess.Whichofthefollowingisnotoneofthem?
a. Getthedata
b. Cleanthedata
c. organizeandmergethedata
d. Analyze
e. Act
Answer:b
Big____istheaccumulationandanalysisofmassivequantitiesofinformationthatforourpurposesinmarketingisgenerallyrelatedtohumanbehaviorandinteractions.
a. research
b. information
c. plans
d. data
Answer:d
BigdatahasthethreeVs.Whichofthefollowingisnotoneofthese?
a. Verification
b. Volume
c. Variety
d. Velocity
Answer:a
In2005anopen-source(availableforfreetoeveryone)frameworkcalled_____wasdevelopedtoanalyzebiddatabyanonprofitcalledApacheSoftwareFoundation.
a. Cloud
b. Hadoop
c. ArtificialIntelligence
d. IBMWatson
e. DeepVision
Answer:b
Dataanalyticsisclassifiedintothreetypes.Whichofthefollowingisnotoneofthosetypes?
a. Descriptive
b. Analytical
c. Predictive
d. Prescriptive
Answer:b
Inthistypeofanalytics,wesummarizedatainrudimentaryformstodiscernpatterns.
a. Descriptive
b. Analytical
c. Predictive
d. Prescriptive
Answer:a
Crosstabulationiswhichtypeofanalytics?
a. Descriptive
b. Analytical
c. Predictive
d. Prescriptive
Answer:a
Thisformofanalyticsusesmorepowerfultoolstoprovidemoreinsightandmorerobustdecision-makingtools.
a. Descriptive
b. Analytical
c. Predictive
d. Prescriptive
Answer:c
Amoreadvancedformofanalyticsthatpredictswhatcustomersorpotentialcustomerswilldoinresponsetovariousmarketingprogramsorclassifythemintomarketsegmentsorothersubgroups.
a. Descriptive
b. Analytical
c. Predictive
d. Prescriptive
Answer:d
Anumbrellatermforanalytictechniquesthatfacilitatefastpatterndiscoveryandmodelbuilding,particularlywithlargedatasets.
a. Datamining
b. Neuralnetwork
c. Artificialintelligence
d. Machinelearning
e. Deeplearning
Answer:a
Amodelingtechniquethatmimicstheprocessesofthehumanbrainandiscapableoflearningfromexperiencetofindpatternsindata.
a. Datamining
b. Neuralnetwork
c. Artificialintelligence
d. Machinelearning
e. Deeplearning
Answer:b
Wheremachinescanlearnbyexperienceandacquireskillswithouthumaninvolvement.
a. Datamining
b. Neuralnetwork
c. Artificialintelligence
d. Machinelearning
e. Deeplearning
Answer:d
Asubsetofmachinelearningwhereartificialneuralnetworks,algorithmsinspiredbythehumanbrain,learnfromlargeamountsofdataasinmachinelearningbutnowweaddbackpropagationwheremachineslearnfromtheirmistakes.
a. Datamining
b. Neuralnetwork
c. Artificialintelligence
d. Datalearning
e. Deeplearning
Answer:e
Thestudyof"intelligentagents":anydevicethatperceivesitsenvironmentandtakesactionsthatmaximizeitschanceofsuccessfullyachievingitsgoals.
a. Datamining
b. Neuralnetwork
c. Artificialintelligence
d. Machinelearning
e. Deeplearning
Answer:c
Throughaprocesscalled_____,theneuralnetworkmakesadjustmentstoimprovefuturepredictionsandisthuscapableoflearningandadjusting.
a. backpropagation
b. selectiveediting
c. recursiveanalysis
d. regressiontothemean
e. dataediting
Answer:a
_____targetingistheuseofonlineandofflinedatatounderstandaconsumer’shabits,demographics,andsocialnetworksinordertoincreasetheeffectivenessofonlineadvertising.
a. Analytical
b. Predictive
c. Prescriptive
d. Behavioral
e. Artificial
Answer:d
_____pricingisapricingstrategyinwhichbusinessesvarypricesforproductsorservicebasedoncurrentlevelofdemandordemandatthespecificmoment.
a. Natural
b. Monopoly
c. Surge
d. Variable
e. Artificial
Answer:c
Graphictoolsthatmakedataunderstandabletoawideraudiencethanjustanalystsanddatascientists.
a. Infographics
b. Datavisualization
c. Artificialintelligence
d. Videoanalysis
Answer:b
Acollectionofimagery,charts,andminimaltextthatgivesaneasy-to-understandoverviewofatopic.
a. Infographics
b. Datavisualization
c. Artificialintelligence
d. Videoanalysis
Answer:a
Therearethreetypesofmarketingdashboards.Whichofthefollowingisnotoneofthem?
a. Strategic
b. Detailed
c. Tactical
d. Operational
Answer:b
_____dashboardsmonitorperformancetowardshigh-levelgoals.
a. Strategic
b. Detailed
c. Tactical
d. Operational
Answer:a
_____dashboardsusepastdatatoidentifytrendsthatcanimpactfutureplans.
a. Strategic
b. Detailed
c. Tactical
d. Operational
Answer:c
_____dashboardsarethemostspecificandareoftenusedtotracktheperformanceofadepartment—say,manufacturingorsales—withinacompany.
a. Strategic
b. Detailed
c. Tactical
d. Operational
Answer:d
Thisiswhereformsharvestonlineconversationsandcollectpersonaldetailsfromsocialnetworkingsites,resumesites,andonlineforums,wherepeoplemightdiscusstheirlives.
a. Harvesting
b. Mining
c. Scraping
d. Hacking
e. Alloftheabove
Answer:c
The“righttobe_____”allowsindividualstohaveinformation,videos,orphotosaboutthemselvesdeletedfromInternetrecordssothattheycan’tbefoundbysearchenginesorotherInternetprograms.
a. erased
b. bypassed
c. uncounted
d. forgotten
e. private
Answer:d
True/False
StructureddatacanbeshowninanExcelspreadsheet.
Answer:True
Unstructureddataiswidelyusedbymarketingresearchers.
Answer:False
Bigonlinesellershaveextensiveinformationaboutyou.
Answer:True
Datageneratedbythesetraditionalmeansremainextremelyimportantforaddressingthe“why”thatbigdatatypicallydonotdeliver.
Answer:True
Predictiveanalyticsfindthebestcourseofactioninagivensituation.
Answer:False
Machinelearningisanumbrellatermforanalytictechniquesthatfacilitatefastpatterndiscoveryandmodelbuilding,particularlywithlargedatasets.
Answer:False
Thereisnothingnewaboutdatamining.
Answer:True
Surge,dynamic,demand,andtime-basedpricingareallnamesforthesamething.
Answer:True
Datavisualizationacollectionofimagery,charts,andminimaltextthatgivesaneasy-to-understandoverviewofatopic.
Answer:False
Marketingspreadsheetsaredesignedtoprovideteamswithareal-timewindowintomarketingperformance.
Answer:False
Whatisthedownsidetobigdata?
Answer:Thedownsidetobigdataistheassociatedlossofprivacy.Bigdataalmostassuredlyincludesdetailedinformationaboutthebehaviorandactivitiesofspecific,identifiableindividuals.
EssayQuestions
Discusstheadvantagesofbeingabletoanalyzethehugeorsmallervolumesofdataavailabletocompanies.
Answer:Beingabletoanalyzethehugeorsmallervolumesofdataavailabletocompaniespaysbigrewardsbasedonbetterconsumertargeting,betterexperiencesfortheircustomersandbetterdecisionsregardingallelementsofthemarketingmix,ultimatelyresultinginincreasedrevenuesandprofits.
Wewishtoestimatethelikelihoodthatanindividualwillbuyornotbuyournewproductorservicebasedontheirpersonalcharacteristics.Discusshowthismightbeapproached.
Answer:Astatisticaltool,suchasdiscriminantanalysis,canbeusedforthispurpose.Themodelwouldbedevelopedwithdataonthecharacteristicsofactualbuyersandnon-buyersoronthecharacteristicsofthoseexpressingdifferentlevelsoflikelihoodtopurchasethenewproductinsurveyresearch.
Describemachinelearning.
Answer:Machinelearningiswheremachinescanlearnbyexperienceandacquireskillswithouthumaninvolvement.AccordingtoMuellerandMassaron“Machinelearningreliesonalgorithmstoanalyzehugedatasets.Currently,machinelearningcan'tprovidethesortofAIthatthemoviespresent.Eventhebestalgorithmscan'tthink,feel,presentanyformofself-awareness,orexercisefreewill.Whatmachinelearningcandoisperformpredictiveanalyticsfa
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