MARK4265 - CRM Final Exam (Chapters 7-12)

The purpose of building models in the AutoML process is to

extract insights from data.

Individuals on social media, who initiate or actively engage others in conversation and are often well-connected to others in the network, are referred to as ________.

influencers

The common adage that people use when referring to ________ data is "garbage in, garbage out."

invalid and unreliable

The two most common techniques of cluster analysis discussed in the chapter are ________ and ________.

k-means clustering; hierarchical clustering

In the preprocessing step of text analytics, the words "best" and "writing" were reduced to "good" and "write." This is an example of ________.

lemmatization

A lift value of ________ indicates a negative relationship in which two or more products in an itemset are unlikely to be purchased together.

less than 1

The Jaccard's coefficient approach of measuring similarity between observations

makes calculations based on how dissimilar two observations are from each other.

The Matching coefficient approach of measuring similarity between observations

measures the similarity between two observations with values that represent the minimum differences between two points.

In market basket analysis, ________ measures the number of transactions that include the items of interest divided by the total number of transactions.

support

Which of the following statements is true of the clustering process?

It enables marketers to identify hidden structures in data.

Which of the following is true of earned digital media?

It is organic, not initiated or paid for by a company.

Identify a true statement about unstructured data.

It requires further processing before it can be used for statistical methods.

Which of the following is true of AutoML?

The AutoML platform is typically capable of analytical discovery of relationships actually present in the dataset.

Which of the following measures of centrality is based on the number of edges that are connected to a node?

degree centrality

All of the four measurement approaches for determining clusters when applying hierarchical clustering can be illustrated using a ________.

dendogram

Which of the following social network measures calculates the extent to which the edges are connected in a network and also indicates how fast information is transmitted?

density

The first step in the k-means clustering algorithm is ________.

determining the initial k clusters

Noora created a Facebook account specifically to connect with her family. She added her parents, siblings, aunts, and cousins to her network. In the context of social network analysis, the relationships in Noora's account are termed ________.

edges

Which of the following behavior analysis measures involves the rate at which users are able to see and interact with the website content?

site speed

Marsha, a 30-year-old woman, is shopping online for clothes and adds a blouse to her cart. Based on this information, identify an example of a promotional message that uses item to item collaborative filtering.

"Customers who bought a shirt also bought a scarf."

Ben, age 65, is shopping for groceries online and adds a pack of pancake mix to his cart. Based on this information, identify an example of a promotional message that uses item to item collaborative filtering.

"Customers who bought pancake mix also bought maple syrup."

Identify an example of sentiment opposite polarity.

"I enjoyed my coffee, but the barista was rude."

A typical silhouette score ranges between ________.

+1 and -1

Which age group of customers is most likely to research products online via social networks?

16 to 24

Based on the popularity of social networks, it is estimated that by ________, there will be about 3.43 billion users worldwide.

2023

A person from the age group of ________ is most likely to buy a product if, while researching it on social media, a "buy" button is present.

25 to 34

Approximately ________ of all social media users say social media referrals influence their purchasing decisions.

71 percent

Which of the following is true of the supervised model of analytics?

A supervised model is one that consists of a defined target variable.

Which of the following companies had a major disruptive influence on traditional brick-and-mortar retailers?

Amazon

Identify a true statement about an unsupervised model.

An unsupervised model has no target variable.

Which of the following is true of the agglomerative clustering approach?

At the end of the process, all observations are included in a single cluster.

Identify a true statement about AutoML.

AutoML facilitates accurate decision making for users with limited coding and modeling experience.

Which of the following companies spent $50 million remodeling stores and training staff according to identified consumer segments, labeled as Buzz, Jill, and Barry, to enhance in-store customer experiences, resulting in a 10 percent growth in sales?

Best Buy

________ network structures are characterized by independent participants that might share information about a popular topic or brand but do not interact much with each other.

Brand cluster

In the k-means clustering algorithm, what happens after observations are randomly assigned to a cluster?

Cluster centroids are determined.

In market basket analysis, the measure of confidence is represented as ________.

Confidence = Support of transactions that includes both antecedent and consequent/Support of transactions that includes antecedent only.

According to the text, chatbots at ________ manage about 30 percent of the incoming volume, whereas the chatbots at ________ can manage almost 70 percent of customers' questions.

Dish Network; Avis

Practitioner Marc Smith likens social media networks to the ________ application that helps answer the three basic questions: "Where am I?", "Where do I want to be?", and "How do I get there?"

Google Maps

Which of the following is true of structured data?

It can be stored in a database or spreadsheet format.

The ________ approach of measuring similarity between observations is also referred to as the "City Block" distance measure.

Manhattan distance

As soon as Paula types in "The best coffee" in her search engine query box, the words "near me" and "recipe" appear as suggestions. The search engine uses the ________ technique to make such real-time recommendations possible.

N-Gram

Noora's Facebook network has her parents, siblings, aunts, and cousins. In her network, she interacts with her father the most, followed by her cousins and aunts. Her mother rarely uses Facebook. In the context of social network analysis, the maximum edge weight in Noora's Facebook network would be between ________.

Noora and her father

In market basket analysis, the measure of support is represented as ________.

Support = Number of transactions that includes both antecedent and consequent/Total number of transactions

The eigenvector centrality measure

counts the number of links from a node and also the number of connections those nodes have.

Which of the following is true of the density of a network?

The higher the density, the faster information is transmitted in a network.

Identify a true statement regarding the divisive clustering approach of hierarchical clustering.

The process starts with a single cluster of 100 and ends up with 100 different clusters.

According to the text, which of the following companies assesses user experiences using Brand 24, a social media monitoring app, to make additional improvements?

Uber

Which of the following questions would be asked during multivariate testing on a website?

Which combination of text, images, and colors in a webpage leads to the highest conversion?

Sean has an Instagram account that he uses to connect with like-minded people. He follows several people and likes sharing moments from his life regularly. Which element of a social network analysis is Sean?

a node

In the k-means clustering analysis, the silhouette score is calculated ________.

after the cluster algorithm has assigned each observation to a cluster

In the ________ method of linking individual observations both within and between clusters, similarity is defined by the group average of observations from one cluster to all observations from another cluster.

average linkage

Which of the following measures of centrality is based on the number of times a node is on the shortest path between other nodes?

betweenness centrality

According to market basket analysis, which of the following products should be placed next to each other?

bread, beer, and salty snacks

The New York Times releases a message on Twitter. This message is disseminated in a hub-and-spoke manner where The New York Times is the central anchor and spokes of people repeat the message. This is an example of the ________ structure.

broadcast network

Based on the concept of market basket analysis, a customer who purchases bread should have immediate and easy access to ________.

butter

Which of the following measures of centrality shows the proximity of a node to all other nodes in a network?

closeness centrality

The ________ network structure represents groups that are large and connected, but also have quite a few independent participants.

community cluster

In the ________ method of linking individual observations both within and between clusters, similarity is defined by the maximum distance between observations in two different clusters.

complete linkage

In market basket analysis, ________ measures the conditional probability of the consequent actually occurring given that the antecedent occurs.

confidence

In market basket analysis, the measure of ________ indicates the percentage of times the association rule is correct.

confidence

Which of the following range of values indicates the closest percentage of people who begin product searches through digital touchpoints?

over 85 percent

In the context of network structures, ________ groups are separate and represent different conversations with little connection between them.

polarized crowd

Which of the four key steps in the AutoML process involves handling missing data, outliers, variable selection, data standardization, and data transformation to maintain a common format?

preparing data

Identify the correct sequence of the four key steps in the AutoML process.

preparing data, building models, creating ensemble models, recommending models

The step of creating ensemble models in the AutoML process allows us to

reduce the generalization error of the prediction.

The boosting process in the creating ensemble models step in the AutoML process serves the purpose of

reducing error in the model.

Sasha enters an electronics website after clicking on a link on another website. In Google Analytics, this type of a channel is termed a(n) ________.

referral

In cluster analysis, a market is segmented using ________.

shared traits

In which of the following methods of linking individual observations both within and between clusters is similarity defined as the shortest distance from an object in a cluster to an object from another cluster?

single linkage

Leroy created an account on a social media website and promptly forgot all about it. He did not add anyone to his network. In the context of social network analysis, Leroy is a(n) ________.

singleton

In which of the four steps of text analytics is a corpus of text data defined?

text acquisition and aggregation

Which of the following is the first step of text analytics?

text acquisition and aggregation

In which of the following functions is the distance measured equivalent to the true straight line distance between two points?

the Euclidean distance

In hierarchical clustering, approaches such as ________ are most often used when numerical variables are analyzed.

the Euclidean distance or the Manhattan distance

In the Manhattan distance approach of measuring similarity between observations

the distance between two points is a path with right turns as if one is walking a grid in a city.

On Twitter, the ________ network structure indicates the topics that are all highly interconnected by similar conversations.

tight crowd

A text analytics computer program separated the phrase "I like cake" into three sections: "I," "like," and "cake." This is an example of ________ within the text preprocessing step.

tokenization

In the context of digital marketing analytics measures, which of the following is an acquisition analysis measure?

traffic source

The term "organic channel" used by Google Analytics means that a user has landed on a webpage through _________.

unpaid search results on search engines such Google, Yahoo, Bing, or Baidu.

Social network analysis results in ________ that trace connections in the population and ultimately represent the structure and size of the networks.

visual maps