Learn Decision Making - Business Quiz
A decision can be defined as a course of action purposely chosen from a set of alternatives to achieve organizational or managerial objectives or goals. Decision making process is continuous and indispensable component of managing any organization or business activities.
Learn Decision Making in this Business Quiz
- 1.
The Next-Best-Action recommendation for a customer is re-evaluated when _______________. (Choose Three)
- A.
The service representative completes a task
- B.
The marketer retires an offer
- C.
A customer changes the call context
- D.
The service representative is in the middle of completing a task
- E.
A customer responds to an offer
Correct Answer(s)
A. The service representative completes a task
C. A customer changes the call context
E. A customer responds to an offerExplanation
The Next-Best-Action recommendation for a customer is re-evaluated when the service representative completes a task because completing a task may provide new information or insights that could affect the recommendation. Additionally, a customer changing the call context can also trigger a re-evaluation as it may indicate a shift in their needs or preferences. Lastly, a customer responding to an offer can lead to a re-evaluation as their response may indicate a change in their interests or priorities.Rate this question:
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- 2.
What type of information is used by the Customer Decision Hub to determine the Next-Best-Action recommendations? (Choose Two)
- A.
Customer profile.
- B.
Call context.
- C.
Number of customers waiting in the call queue.
- D.
Service representative’s profile.
Correct Answer(s)
A. Customer profile.
B. Call context.Explanation
The Customer Decision Hub uses the customer profile and call context to determine the Next-Best-Action recommendations. The customer profile provides information about the customer's preferences, past interactions, and behavior, which helps in understanding their needs and preferences. The call context includes real-time information about the customer's current situation, such as the reason for the call, their mood, and any previous interactions during the call. By considering both the customer profile and call context, the Customer Decision Hub can generate personalized and relevant recommendations for the next best action to be taken.Rate this question:
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- 3.
In an organization, many propositions are applicable to various business issues. What do you think is the best way to organize your propositions (Select two)?
- A.
Into a simple flat list including all propositions
- B.
Into business issues such as: Sales, Retention, Service
- C.
Into a three level hierarchy: Business issue -> Group -> Proposition
- D.
Into any hierarchical structure that meets the business needs
Correct Answer(s)
C. Into a three level hierarchy: Business issue -> Group -> Proposition
D. Into any hierarchical structure that meets the business needsExplanation
The default proposition organisation hierarchy that ships with Pega Decision Management is: Business issue -> Group -> Proposition
The default proposition organisation hierarchy is: Business issue -> Group -> Proposition. This hierarchy can be customized to have a more generic structure, such as Area -> Group -> Sub Group -> Proposition.Rate this question:
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- 4.
Another decision component is the Results component. Each strategy always contains one of this component which defines the output of the decision strategy How many propositions do you think this strategy will output?
- A.
0
- B.
1
- C.
2
Correct Answer
C. 2Explanation
The Results component of a decision strategy defines the output of the strategy. Since the question states that each strategy always contains one Results component, it can be inferred that this particular strategy will output 2 propositions.Rate this question:
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- 5.
U+, wants the Price of all offered Propositions to be dynamic. If the Customer value is higher than 60 he/she will get a 10% discount.
- A.
Set the value of the Price based on Customer Value
- B.
Add new propositions with discounted Price
Correct Answer
A. Set the value of the Price based on Customer ValueExplanation
The correct answer is to set the value of the price based on the customer value. This means that the price of the propositions will vary depending on the customer's value. If the customer value is higher than 60, they will receive a 10% discount on the price. This approach allows for dynamic pricing, where the price can be adjusted to match the customer's value and provide discounts if necessary.Rate this question:
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- 6.
U+, a telecom company, would like to offer the most profitable proposition to is customers. Profit is calculated based on Price and Cost proposition properties. How would you enhance this strategy to meet the new requirement?
- A.
Add a new decision component
- B.
Modify the Results component
Correct Answer
A. Add a new decision componentExplanation
To meet the new requirement of offering the most profitable proposition to its customers, adding a new decision component would be the best strategy. This new component can consider factors such as customer preferences, market trends, and competitor analysis to determine the most profitable proposition. By incorporating this additional decision-making element, U+ can ensure that their offerings are tailored to maximize profit while also meeting customer needs and staying competitive in the market.Rate this question:
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- 7.
What does the Results component of the strategy contain?
- iPhone (Price: 150; Cost: 100)
- Galaxy (Price: 250; Cost: 150)
- Xperia (Price: 250; Cost: 100)
- A.
![Learn Decision Making - Business Quiz - Quiz]()
- B.
![Learn Decision Making - Business Quiz - Quiz]()
- C.
![Learn Decision Making - Business Quiz - Quiz]()
Correct Answer
C.Explanation
The Results component of the strategy contains the list of smartphones with their respective prices and costs. It provides information about the iPhone, Galaxy, and Xperia smartphones, including their prices and costs.Rate this question:
- 8.
What does the Results component of the strategy contain?
- iPhone (Price: 150; Cost: 100)
- Galaxy (Price: 250; Cost: 150)
- Xperia (Price: 250; Cost: 100)
- A.
![Learn Decision Making - Business Quiz - Quiz]()
- B.
![Learn Decision Making - Business Quiz - Quiz]()
- C.
![Learn Decision Making - Business Quiz - Quiz]()
Correct Answer
B.Explanation
The Results component of the strategy contains the information about the different smartphones and their respective prices and costs. It provides a comparison of the iPhone, Galaxy, and Xperia models, showing their prices and costs.Rate this question:
- 9.
U+, a telecom company, always offers the proposition with the highest profit to its customers. They have observed that the proposition presented are not relevant to many customers. Acceptance rate (Acceptance rate is the ratio of the number of propositions accepted to total number of propositions offered. A high acceptance rate for a propositions means that many customers accept it.) (and therefore profit) is going down. How can U+ resolve this situation?
- A.
Continue offering the most profitable proposition for the company
- B.
Offer the proposition that is most likely to be accepted by a customer
- C.
Randomly switch between option A and B for every customer
- D.
Select proposition that balances business objective with customer needs
Correct Answer
D. Select proposition that balances business objective with customer needsExplanation
U+ can resolve the situation by selecting propositions that balance their business objectives with the needs of their customers. This means considering both the profitability of the proposition for the company and its relevance to the customers. By offering propositions that align with the customers' needs, U+ can increase the acceptance rate and ultimately maximize their profit. This approach ensures that the propositions are not only profitable but also valuable and attractive to the customers, leading to higher acceptance rates and overall business success.Rate this question:
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- 10.
This is the decision strategy U+ currently uses to select the proposition with the highest profit. How would you enhance this strategy to balance customer needs with business objectives?
- A.
Add a new decision component to determine customer interest
- B.
Change the prioritization formula
- C.
Both: and a new component and change the prioritization expression
Correct Answer
C. Both: and a new component and change the prioritization expressionExplanation
To enhance the strategy to balance customer needs with business objectives, adding a new decision component to determine customer interest would allow for a better understanding of what customers value. This component could consider factors such as customer feedback, preferences, and market research to gauge customer interest accurately. Additionally, changing the prioritization formula would help in incorporating customer needs into the decision-making process. By assigning weights or scores to customer-centric factors, the strategy can be adjusted to give more importance to propositions that align with customer needs while still considering profitability.Rate this question:
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- 11.
Assume a different strategy designer received the same assignment but he reversed the Adaptive Model with the Set Property component. As a result, he built the following decision strategy: Which of the following statements do you think it is true?
- A.
This solution is incorrect. Profit is not computed correctly.
- B.
This solution is incorrect. Propensity is not computed correctly.
- C.
This solution is correct. Strategy will result in the same output.
Correct Answer
C. This solution is correct. Strategy will result in the same output.Explanation
The given solution is correct because reversing the Adaptive Model with the Set Property component does not affect the output of the strategy. The order in which these components are placed does not change the computation of profit or propensity. Therefore, the strategy will still result in the same output regardless of the order of these components.Rate this question:
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- 12.
U+, a telecom company, wants customers with high churn risk to receive a retention offer (Churn is when customers leave an organization, usually for a competitor). How do you change the following strategy to meet this requirement?
- A.
Access past interactions with similar customers to predict a customer's churn risk, and make retention offer if the risk is high.
- B.
Detect high churn risk customers using a predictive model and run this strategy in batch mode for those customers.
- C.
Use a decision component that can access and run a predictive model from within the strategy, in real-time.
Correct Answer
C. Use a decision component that can access and run a predictive model from within the strategy, in real-time.Explanation
The given correct answer suggests using a decision component that can access and run a predictive model from within the strategy in real-time. This means that instead of running the strategy in batch mode for high churn risk customers, the strategy will be able to detect high churn risk customers in real-time and make retention offers immediately. By accessing and running the predictive model in real-time, U+ can proactively identify customers at risk of leaving and offer them retention incentives promptly, increasing the chances of retaining them.Rate this question:
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- 13.
How does a predictive model help in proactive retention?
- A.
The model suggests the best retention offer based on a customer's churn risk
- B.
The model predicts a customer's churn risk, which can be used in the strategy to select a suitable retention offer
- C.
The model looks into all retention offers made in the past and selects the most successful one
Correct Answer
B. The model predicts a customer's churn risk, which can be used in the strategy to select a suitable retention offerExplanation
A predictive model helps in proactive retention by predicting a customer's churn risk. This information can then be used to develop a strategy for selecting a suitable retention offer. By understanding which customers are at a higher risk of leaving, the company can tailor their offers and incentives to effectively retain those customers. This allows for a more proactive approach to customer retention, as the company can take action before the customer actually decides to leave.Rate this question:
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- 14.
Select the strategy pattern that will choose a proposition based on the output of a predictive model.
- A.
![Learn Decision Making - Business Quiz - Quiz]()
- B.
![Learn Decision Making - Business Quiz - Quiz]()
- C.
![Learn Decision Making - Business Quiz - Quiz]()
Correct Answer
B.Explanation
The correct answer is the Decision Strategy Pattern. This pattern allows for the selection of a proposition based on the output of a predictive model. It involves using a set of predefined rules or conditions to determine the appropriate proposition to choose. This pattern is commonly used in decision-making processes where the outcome is based on the prediction of a model.Rate this question:
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- 15.
What does a churn predictive model need to predict the propensity of customer churn?
- A.
Proposition properties
- B.
Customer properties
- C.
Strategy properties
Correct Answer
B. Customer propertiesExplanation
A churn predictive model needs customer properties to predict the propensity of customer churn. Customer properties refer to the characteristics and behavior of the customers, such as demographics, purchase history, engagement level, and customer satisfaction. By analyzing these customer properties, the model can identify patterns and indicators that suggest a higher likelihood of churn. This information can then be used to develop strategies and interventions to prevent or reduce customer churn.Rate this question:
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- 16.
U+, a high street bank, wants to offer a new credit card to all their customers who are currently studying. How would you enhance this strategy to ensure that only students are offered the Student Card?
- A.
Add a new decision component
- B.
Modify the proposition component
Correct Answer
A. Add a new decision componentExplanation
Adding a new decision component would enhance the strategy to ensure that only students are offered the Student Card. This new component could involve verifying the customer's student status through documentation such as a valid student ID or enrollment certificate. By implementing this additional step, the bank can ensure that only customers who are currently studying are eligible for the Student Card, thereby targeting the intended audience accurately.Rate this question:
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- 17.
Which of the following business requirements should be implemented using the Filter component?
- A.
Select a proposition with the highest profit
- B.
Calculate profit for each proposition
- C.
Select propositions with a profit higher than 60$
- D.
Select a proposition with the lowest profit
Correct Answer
C. Select propositions with a profit higher than 60$Explanation
The Filter component should be implemented to select propositions with a profit higher than $60. The Filter component is designed to filter and select specific data based on certain criteria. In this case, the requirement is to select propositions with a profit higher than $60, so the Filter component would be the appropriate choice to filter out and select only those propositions that meet this criteria.Rate this question:
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- 18.
In Filter component, which condition should you use to remove anyone who is 18 or over?
- A.
.Age < 18
- B.
Primary.Age < 18
- C.
RemoveOver18.Age < 18
- D.
.Age >= 18
Correct Answer
B. Primary.Age < 18Explanation
The correct answer is "Primary.Age < 18". This condition will remove anyone who is 18 or over because it checks if the age in the "Primary" field is less than 18. If the age is less than 18, the condition will evaluate to true and the person will be removed. If the age is 18 or over, the condition will evaluate to false and the person will not be removed.Rate this question:
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- 19.
U+, a telecom company, has a contact center to handle incoming customer calls. U+ wants to offer either a retention (a retention offer is made to customer who intent to leave as an incentive for them to remain) or sales offer (a sales offer is made to motivate the customer to make a purchase) depending on the customer intent. Select the two most appropriate strategies U+ should use to execute on this strategy.
- A.
Make a retention offer when the customer calls in to cancel their contract
- B.
Always make a sales offer regardless of the call reason
- C.
Randomly make a retention or sales offer to ensure customer satisfaction
- D.
Make an appropriate sales offer if the customer inquires about certain products.
Correct Answer(s)
A. Make a retention offer when the customer calls in to cancel their contract
D. Make an appropriate sales offer if the customer inquires about certain products.Explanation
The two most appropriate strategies for U+ to execute on this strategy are to make a retention offer when the customer calls in to cancel their contract and to make an appropriate sales offer if the customer inquires about certain products. These strategies are effective because they are tailored to the specific situations in which the offers are made. Offering a retention offer when a customer calls in to cancel their contract shows that U+ values their customers and wants to retain them. Making a sales offer when a customer inquires about certain products shows that U+ is proactive in meeting the customer's needs and providing them with relevant options.Rate this question:
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- 20.
This strategy below contains an error. Examine the strategy carefully. What do the Results of the strategy contain if the Call reason is: Inquire Xperia?
- A.
1.) Xperia
- B.
1) Galaxy 2) Xperia
- C.
1) Galaxy
Correct Answer
C. 1) GalaxyExplanation
The strategy contains an error because the expected result for the call reason "Inquire Xperia" should be "Xperia" and not "Galaxy". However, the strategy mistakenly lists "Galaxy" as the result for this specific call reason.Rate this question:
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- 21.
Assume the strategy has been corrected. What does the Result of the strategy contains if the Call reason is: Inquire Nokia?
- A.
No offer
- B.
Nokia
- C.
IPhone
Correct Answer
C. IPhoneExplanation
The result of the strategy contains "iPhone" if the call reason is "Inquire Nokia". This suggests that the strategy is designed to provide information about different phone models based on the call reason. In this case, the strategy is indicating that there is no offer for Nokia, but there is information available about iPhones.Rate this question:
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- 22.
Assume this is the property panel of the Switch component: What is the output of the strategy in the Call_intent is "Inquire products"?
- A.
No offer, sales offer
- B.
Sales offer
- C.
No offer
Correct Answer
C. No offerExplanation
The output of the strategy in the Call_intent is "Inquire products" is "No offer".Rate this question:
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- 23.
This is an alternative decision strategy. Details info - Does this strategy satisfy the original use case requirements? Requirements: Implement a strategy so that it: 1) Select the "Retention Offer" if the customer intent is "Cancel contract" 2) Select the "Sales Offer" if the customer intent is "Inquire products" 3) outputs "No offer" in any other case
- A.
No, the strategy sometimes output two propositions.
- B.
No, the strategy sometimes outputs the wrong offer.
- C.
Yes, this is a correct alternative strategy
Correct Answer
B. No, the strategy sometimes outputs the wrong offer.Explanation
The given correct answer is "No, the strategy sometimes outputs the wrong offer." This is because the strategy does not always select the correct offer based on the customer intent. It may output the wrong offer in some cases, which means it does not satisfy the original use case requirements.Rate this question:
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- 24.
What can you do to access a proposition's Interaction History?
- A.
Use a Data Import component to import the Interaction History
- B.
Nothing, the Interaction History is always available
- C.
Enable the interaction History strategy property
- D.
Use the Interaction History component
Correct Answer
D. Use the Interaction History componentExplanation
To access a proposition's Interaction History, you can use the Interaction History component. This component is specifically designed to provide access to the Interaction History. It allows you to retrieve and analyze the historical data related to customer interactions. By using this component, you can gain valuable insights into the customer's past interactions, which can help in making informed decisions and personalizing the customer experience.Rate this question:
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- 25.
What is the purpose of the Interaction History component?
- A.
To determine which propositions are available for selection
- B.
To determine if a proposition has been offered before.
- C.
To verify if the customer is eligible for an offer
- D.
Retrieve proposition properties
Correct Answer
B. To determine if a proposition has been offered before.Explanation
The purpose of the Interaction History component is to determine if a proposition has been offered before. This component allows the system to track and record all previous interactions with the customer, including any propositions that have been offered. By analyzing the interaction history, the system can determine if a proposition has already been offered to the customer, thus avoiding duplicate offers and improving the overall customer experience.Rate this question:
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- 26.
What is the simplest and most efficient method of retrieving the last 60 days of interaction history?
- A.
Add a Date component
- B.
Set the date property in the Interaction History component
- C.
Add a Filter component
- D.
Update the Interaction History component to fetch the last 60 days.
Correct Answer
D. Update the Interaction History component to fetch the last 60 days.Explanation
To retrieve the last 60 days of interaction history, the most efficient method is to update the Interaction History component. By modifying the component, it can be configured to fetch the required data within the specified time frame. This eliminates the need to add additional components or filters, streamlining the retrieval process.Rate this question:
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- 27.
Which of the statements can be translated into proposition eligibility rules? Pick three
- A.
Credit cards can only be offered to applicants over 18
- B.
U+ bank wants to offer two credit cards a Black and a Gold card
- C.
The card has no expiry date
- D.
The Gold card can only be offered to anyone with an annual income exceeding 100.000
Correct Answer(s)
A. Credit cards can only be offered to applicants over 18
C. The card has no expiry date
D. The Gold card can only be offered to anyone with an annual income exceeding 100.000Explanation
The correct answer choices are statements that can be translated into proposition eligibility rules. The first statement, "Credit cards can only be offered to applicants over 18," is an eligibility rule that sets an age requirement for applicants. The second statement, "The card has no expiry date," is a rule regarding the card's expiration policy. The third statement, "The Gold card can only be offered to anyone with an annual income exceeding 100.000," is an eligibility rule based on the applicant's annual income. These three statements establish criteria for who is eligible to receive a credit card and what conditions apply to the card.Rate this question:
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- 28.
You can use customer and proposition properties to evaluate the eligibility. Can you distinguish between customer and proposition properties? (Select all customer properties)
- A.
Age
- B.
No Fees
- C.
Income
- D.
No Expiry Date
Correct Answer(s)
A. Age
C. IncomeExplanation
The customer properties that can be used to evaluate eligibility are age and income. Age is an important factor as it can determine if a customer meets the minimum age requirement for a particular proposition. Income is also crucial as it helps assess the financial capability of a customer to afford the proposition. The other two options, "No Fees" and "No Expiry Date," are proposition properties rather than customer properties.Rate this question:
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- 29.
U+ Bank wants to ensure that the Gold Card offer is presented at most three times to a single customer. Do you need to change this strategy to implement this requirement?
- A.
No, the strategy will work just fine
- B.
Yes, add an Aggregation component
- C.
Yes, add a Set Property component
Correct Answer
B. Yes, add an Aggregation componentExplanation
Adding an Aggregation component would be necessary to implement the requirement of presenting the Gold Card offer at most three times to a single customer. The Aggregation component can be used to keep track of the number of times the offer has been presented to each customer. By setting a condition in the Aggregation component, the offer can be stopped from being presented after it reaches the maximum limit of three times.Rate this question:
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- 30.
U+ Bank is running a credit card promotion. To optimize their profits the want to offer only the credit cards that generate better than average profit (sum of card profits divided by the number of cards). How would you calculate average profit?
- A.
Use the Group By component to calculate average profit.
- B.
Use two Group By components, one to calculate the total profit and the other to count the number of cards. Then use the Set Property component to calculate the average.
- C.
Use one Group By component to calculate the total profits and to count the number of cards. Then, use the Set Property component to calculate the average.
Correct Answer
A. Use the Group By component to calculate average profit. -
- 31.
In the Group By component, which function should you use to find out the number of proposition accepted in the last 30 days?
- A.
Count
- B.
Sum
- C.
This is not possible
- D.
Proposition count
Correct Answer
A. CountExplanation
The correct answer is "Count" because the Count function is used to calculate the number of occurrences of a specific field or attribute. In this case, it can be used to count the number of proposition accepted in the last 30 days.Rate this question:
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- 32.
U+ Bank wants to target all the customers who have rejected a credit card offer. Which function should you use? To get a full picture check all answers.
- A.
TRUE IF NONE
- B.
TRUE IF ALL
- C.
TRUE IF ANY
- D.
Some other method
Correct Answer
C. TRUE IF ANYExplanation
The correct answer is "TRUE IF ANY". This function will target all the customers who have rejected a credit card offer. It will return true if any of the customers have rejected the offer, allowing U+ Bank to effectively target this specific group of customers.Rate this question:
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- 33.
In a simulation configuration, the data flow rule is used to define the: (Choose One)
- A.
Strategy to be used
- B.
KPI to be used
- C.
A Visual Business Director output
- D.
Propositions to be offered
Correct Answer
A. Strategy to be usedExplanation
The data flow rule in a simulation configuration is used to define the strategy to be used. This means that it determines the specific approach or plan of action that will be followed in the simulation. The data flow rule helps in guiding the flow of data and information within the simulation, ensuring that the desired strategy is implemented accurately. It helps in defining the steps, rules, and processes that need to be followed for achieving the desired outcomes in the simulation.Rate this question:
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- 34.
Simulation results can be written to: (Choose Two)
- A.
Database via Class
- B.
Customer class
- C.
Proposition table
- D.
Visual Business Director
- E.
Database via SQL
Correct Answer(s)
A. Database via Class
D. Visual Business DirectorExplanation
The simulation results can be written to a database via a class and to Visual Business Director. Writing the results to a database via a class allows for structured storage and easy retrieval of the data. Visual Business Director is a tool that can be used to visualize and analyze simulation results, making it a suitable option for writing the results. The other options, such as Customer class, Proposition table, and Database via SQL, are not mentioned as viable options for writing the simulation results.Rate this question:
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- 35.
What can we do with Visual Business Director? (Choose One)
- A.
Examine the customer distribution
- B.
Write results of the simulation to a database table
- C.
A/B test two strategies
- D.
Compare results with external data
Correct Answer
C. A/B test two strategiesExplanation
Visual Business Director allows users to A/B test two strategies. This means that users can compare the performance and effectiveness of two different strategies by running simulations and analyzing the results. This feature helps businesses make data-driven decisions and optimize their strategies based on real-time insights.Rate this question:
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- 36.
Which statement is true when describing a simulation? (Choose One)
- A.
The only way to evaluate the results of the simulation is to examine Proposition Distribution report
- B.
A simulation can be re-executed.
- C.
We must use the same data flow rule to compare simulations
- D.
Simulations are used to write to the Actuals data source.
Correct Answer
B. A simulation can be re-executed.Explanation
A simulation can be re-executed means that it can be repeated multiple times with different inputs or parameters to observe and analyze different outcomes. This allows for testing and experimentation to understand the impact of various factors on the simulation results. Re-executing a simulation helps in gaining more insights, making improvements, and validating the accuracy and reliability of the simulation model.Rate this question:
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- 37.
Which is a dimension in Visual Business Director?
- A.
Direction
- B.
Volume
- C.
Accept
- D.
Channel
Correct Answer
D. ChannelExplanation
In Visual Business Director, "Channel" is a dimension that refers to the different distribution channels used by a business to reach its customers. This dimension helps in analyzing and understanding the effectiveness of various channels in terms of sales, customer reach, and profitability. By analyzing the channel dimension, businesses can make informed decisions about optimizing their distribution strategies and allocating resources to the most effective channels.Rate this question:
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- 38.
Which of the following statement is true regarding the Filter and Prioritization component in a decision strategy? (Choose One)
- A.
The Filter component reduces the number of incoming data elements by allowing all rows for which the condition is true.
- B.
The Filter component reduces the number of incoming data elements by allowing all rows for which the condition is false.
- C.
The Filter condition is a numeric expression similar to the Prioritization expression.
- D.
A Prioritization component cannot reduce the number of incoming data elements since it is only ranking the incoming data.
Correct Answer
A. The Filter component reduces the number of incoming data elements by allowing all rows for which the condition is true.Explanation
The Filter component in a decision strategy reduces the number of incoming data elements by allowing all rows for which the condition is true. This means that only the data elements that meet the specified condition will be included in the subsequent steps of the decision strategy. The Filter condition is different from the Prioritization expression, which is used for ranking the incoming data. Therefore, the statement that a Prioritization component cannot reduce the number of incoming data elements is not true.Rate this question:
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- 39.
What decision strategy pattern would you use to filter out all propositions having their price higher than the average product price?
- A.
Set Property - Group by
- B.
Set Property - Filter
- C.
Aggregate - Filter
- D.
Group by - Filter
Correct Answer
D. Group by - FilterExplanation
The Group by - Filter decision strategy pattern would be used to filter out all propositions having their price higher than the average product price. This pattern involves grouping the propositions based on a certain property (in this case, price), and then applying a filter to select only those propositions that meet a specific condition (in this case, having a price higher than the average). This allows for the identification and removal of propositions that do not meet the desired criteria.Rate this question:
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- 40.
What are the property types available to a Strategy Designer for building decision strategies? (Choose Two)
- A.
Customer data
- B.
Properties from the work object
- C.
Proposition properties
- D.
Propensity of a scoring model
Correct Answer(s)
A. Customer data
C. Proposition propertiesExplanation
The property types available to a Strategy Designer for building decision strategies are customer data and proposition properties. Customer data refers to the information about the customers that can be used to make decisions, while proposition properties are the attributes of a proposition that can be used in decision-making. These two types of properties provide the necessary data and information for creating effective decision strategies.Rate this question:
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- 41.
In the strategy Sales Account strategy you have used the CLV_Threshold property to ______ (Choose One)
- A.
Establish if a customer is eligible for a proposition.
- B.
Prioritize customers.
- C.
Calculate the customer CLV_Value.
- D.
Prioritize between different propositions.
Correct Answer
A. Establish if a customer is eligible for a proposition.Explanation
The CLV_Threshold property is used in the Sales Account strategy to establish if a customer is eligible for a proposition. This means that the strategy will use the CLV_Threshold value to determine if a customer meets the criteria necessary to be offered a specific proposition. The CLV_Threshold serves as a threshold or cutoff point, and if a customer's CLV_Value exceeds this threshold, they will be considered eligible for the proposition.Rate this question:
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- 42.
Which of these statements best describes the Next-Best-Action (Choose One)
- A.
Next-Best-Action selects a best offer based on business needs only.
- B.
Next-Best-Action selects a best offer based on the customer previous buying history.
- C.
Next-Best-Action is a unique mechanism of balancing customer needs and business requirements.
- D.
Next-Best-Action can only be used to determine the best sales offer.
Correct Answer
C. Next-Best-Action is a unique mechanism of balancing customer needs and business requirements.Explanation
Next-Best-Action is a unique mechanism of balancing customer needs and business requirements. This statement accurately describes Next-Best-Action as a process that takes into consideration both the customer's needs and the business requirements. It implies that the selection of the best offer is not solely based on either the business needs or the customer's previous buying history, but rather on finding a balance between the two. This approach ensures that the chosen action benefits both the customer and the business.Rate this question:
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- 43.
When does a decisioning implementation process finish? (Choose One)
- A.
When the Decisioning Hub is built
- B.
When you have developed all logic specified by the business
- C.
Never
- D.
After the first iteration.
Correct Answer
C. NeverExplanation
The correct answer is "Never". This means that a decisioning implementation process never truly finishes. Decisioning is an ongoing process that requires continuous monitoring, evaluation, and adjustment based on changing business needs and customer behavior. It is important to regularly review and update the implemented logic to ensure its effectiveness and relevance over time. Therefore, decisioning implementation is a continuous and iterative process rather than a one-time event.Rate this question:
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- 44.
Which of these should come first when implementing a decisioning project? (Choose One)
- A.
Define which propositions we should use.
- B.
Any order is fine.
- C.
Issue and Group hierarchy.
- D.
Define prioritization rules.
Correct Answer
C. Issue and Group hierarchy.Explanation
The correct answer is "Issue and Group hierarchy." When implementing a decisioning project, it is important to first establish the hierarchy of issues and groups. This helps in organizing and categorizing the different problems and their respective solutions. By defining the hierarchy, it becomes easier to prioritize issues and make decisions based on their importance. This step sets the foundation for the decision-making process and ensures a systematic approach to problem-solving.Rate this question:
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- 45.
Which of these statements best describe Prioritization rules in the Next-Best-Action? (Choose One)
- A.
Prioritization rules in strategies identify the top proposition for a customer at any given moment.
- B.
Prioritization rules are simple formulas used to determine the best proposition for a customer
- C.
Prioritization rules are used to determine likelihood of product acceptance only.
- D.
Once in place prioritization rules cannot be changed.
Correct Answer
A. Prioritization rules in strategies identify the top proposition for a customer at any given moment.Explanation
Prioritization rules in the Next-Best-Action strategy are used to identify the top proposition for a customer at any given moment. These rules help determine the most suitable offer or action to present to a customer based on various factors such as their preferences, behavior, and likelihood of acceptance. By using prioritization rules, companies can optimize their customer interactions and increase the chances of delivering the most relevant and valuable proposition to each individual customer.Rate this question:
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- 46.
The hard rules usually: (Choose One)
- A.
Up-weight or down-weight different propositions in prioritization rules.
- B.
Apply to adaptive models.
- C.
Determine that the proposition has a greater relevance to the customer.
- D.
Determine that the customer is or is not eligible for a particular product
Correct Answer
D. Determine that the customer is or is not eligible for a particular productExplanation
The hard rules determine whether or not a customer is eligible for a specific product. These rules establish the criteria that a customer must meet in order to qualify for the product. If the customer meets the requirements outlined in the hard rules, they are considered eligible. If they do not meet the criteria, they are deemed ineligible. The hard rules serve as a decisive factor in determining a customer's eligibility for a particular product.Rate this question:
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- 47.
You use baseline simulations to ____________.
- A.
Verify the objectives of a marketing plan
- B.
Verify if your strategy has errors
- C.
Test the functionality of the Decision Manager portal
- D.
Execute the existing strategies against a sample population
Correct Answer
D. Execute the existing strategies against a sample populationExplanation
Baseline simulations are used to execute the existing strategies against a sample population. This allows for testing and evaluation of the strategies to determine their effectiveness and potential outcomes. By running simulations with a sample population, organizations can gain insights into the performance of their strategies and make informed decisions about their marketing plans.Rate this question:
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- 48.
In Decision Management the definition of a proposition is ____________.
- A.
A bundle.
- B.
A service offer.
- C.
A product Offered.
- D.
The proposed course of action.
Correct Answer
D. The proposed course of action.Explanation
In Decision Management, a proposition refers to the proposed course of action. This means that it is a suggestion or recommendation for a specific action to be taken in order to achieve a desired outcome or goal. It is not a bundle, service offer, or product offered, as these options do not accurately capture the concept of a proposition in Decision Management.Rate this question:
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- 49.
In Visual Business Director, when comparing the results of simulations source versus a reference data source, the red colur indicates:
- A.
There was an error during the evaluation of reference KPI.
- B.
There was an error during the evaluation of source KPI.
- C.
The KPI value in the reference simulation is smaller than the value in the source simulation.
- D.
The KPI value in the reference simulation is higher than the value in the source simulation.
Correct Answer
D. The KPI value in the reference simulation is higher than the value in the source simulation.Explanation
The red color indicates that the KPI value in the reference simulation is higher than the value in the source simulation.Rate this question:
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- 50.
In order to set-up a ‘1-to-many’ data relationship for the customer class, which of the following steps should you take?
- A.
Create a property of type “Page List“ on the customer class.
- B.
Create a property of type “Page“ on the customer class.
- C.
Define primary key-foreign key relationships in the database to join the tables.
- D.
Define the class relationships in the Decisioning -> Infrastructure landing page.
Correct Answer
A. Create a property of type “Page List“ on the customer class.Explanation
To set up a '1-to-many' data relationship for the customer class, you should create a property of type "Page List" on the customer class. This means that each customer can have multiple pages associated with them, allowing for a one-to-many relationship. This property will store a list of pages related to each customer, enabling easy access and management of the associated data.Rate this question:
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What does the Result of the strategy contains if the Call reason is: Inquire Nokia?")
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Mar 21, 2023Quiz Edited by
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Oct 15, 2018Quiz Created by
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