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