CBDA practice question 9 of 25
An online retailer of men's athletic apparel is seeking to become the market leader in the industry. To deliver on this strategy, the analytics team continuously collects data on the prices of competitor products and uses this information to adjust the retailer's prices. What type of analytics is the retailer using to maintain their pricing structure?
Full set: 152 questionsPrescriptive 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 p
, and
thus achieve their strategic goal of becoming the market leader. Reference:
•
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,
Keep practicing
Take the free CBDA practice test
Ten exam-style questions with answers and explanations, plus the exam facts and study guides.
More questions
Other CBDA practice questions
- Question 1A data scientist at a consumer goods company, has been asked to do a detailed analysis on…
- Question 2The analytics team has completed analyzing a dataset and unfortunately the data didn't de…
- Question 3The analytics team is assessing the results of their analysis. They are surprised to find…
- Question 4A Human Resource manager recently learned that their competitor reduced employee attritio…
- Question 5The analytics team is struggling with which recommendation to make. Their challenge is th…
- Question 6A financial software company has growth and expansion as one of their top strategic prior…