CBDA Exam Dumps - IIBA Business Data Analytics Questions and Answers

Variation is the degree to which the data values differ from each other or from a central tendency measure, such as the mean or median. Variation can affect the data quality across cities, as it can indicate the presence of outliers, errors, noise, or inconsistency in the data collection or processing methods. Variation can also influence the statistical analysis and interpretation of the results, as it can affect the significance, confidence, and validity of the findings12. References: 1: Guide to Business Data Analytics, IIBA, 2020, p. 302: Statistics for Business and Economics, David R. Anderson et al., 2014, p. 83.

Predictive analytics is a type of analytics that uses historical and current data, as well as statistical and machine learning techniques, to forecast future events or outcomes, such as product purchases, customer behavior, or market trends12. To answer the question ‘How many product purchases are expected this coming year given the current marketing campaign?’, predictive analytics would be performed to estimate the demand and sales based on the existing data and the marketing campaign variables. References: 1: Guide to Business Data Analytics, IIBA, 2020, p. 182: Predictive Analytics: The Power to Predict Who Will Click, Buy, Lie, or Die, Eric Siegel, 2016, p. 3.