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IIBA CBDA Exam - Topic 2 Question 21 Discussion

Actual exam question for IIBA's CBDA exam
Question #: 21
Topic #: 2
[All CBDA Questions]

A 3rd party is marketing an application for financial institutions to use for credit scoring. This application is an example of what type of analytics?

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Suggested Answer: B

by Paris at Sep 19, 2024, 01:22 AM

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Wilda
4 months ago
Sounds like a mix of different types, not just one.
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Dexter
4 months ago
Really? I’m surprised it’s not descriptive.
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Truman
4 months ago
I thought it was inferential analytics at first.
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Willard
4 months ago
Totally agree, it helps make better decisions.
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Rolande
5 months ago
This is definitely prescriptive analytics!
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Amber
5 months ago
From what I studied, prescriptive analytics helps in decision-making, so I lean towards that option. It seems to align with how financial institutions use credit scores.
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Eve
5 months ago
I'm a bit confused. Is credit scoring more about describing past data or predicting future outcomes? I thought it might be descriptive analytics.
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Rory
5 months ago
I remember a practice question about different types of analytics, and I think prescriptive was about recommending actions. So, this could fit that description.
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Hyun
5 months ago
I think this might be prescriptive analytics since it involves making decisions based on credit scoring data, but I'm not entirely sure.
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Meaghan
5 months ago
I'm a bit confused by the options here. Exploratory and inferential analytics don't seem to fit the description of the credit scoring application. I'll have to review my notes on the different types of analytics to make sure I understand the distinctions before answering this.
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Lucy
5 months ago
Okay, I've got this. Prescriptive analytics is the type that uses techniques like optimization and simulation to generate and evaluate different scenarios and outcomes. That sounds like what the question is asking about, with the credit scoring application. I'm confident this is the right answer.
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Stephane
5 months ago
Hmm, I'm a bit unsure about this one. The question mentions credit scoring, so I'm wondering if it could be related to descriptive analytics that summarizes and describes the data. But I'll have to think it through more carefully.
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Avery
6 months ago
This looks like a question on the different types of analytics. I think the key is to identify the type of analytics that provides recommendations or suggestions for optimal actions based on data analysis.
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Annice
6 months ago
I'm not completely sure, but wasn't there something about configuring a common DNS server too? That seems like it could be important for communication.
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Malinda
1 year ago
Prescriptive analytics, eh? Sounds like it's going to tell me how to live my life... or at least how to run our credit scoring business.
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Cheryl
1 year ago
A: Exactly, it helps us make the best loan offers and manage risk effectively.
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Graham
1 year ago
B: So it's like having a personal advisor for our credit scoring decisions.
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Rosendo
1 year ago
A: Yeah, prescriptive analytics is all about giving us recommendations based on data analysis.
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Marvel
1 year ago
I'm not sure, but I think it could also be inferential analytics.
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Amie
1 year ago
Prescriptive analytics, huh? I wonder if it can also prescribe the perfect outfit for our credit analysts. That would be a real game-changer!
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Jaleesa
1 year ago
D: Inferential
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Jeanice
1 year ago
C: Exploratory
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Ettie
1 year ago
B: Prescriptive analytics
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Torie
1 year ago
A: Descriptive analytics
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Cory
1 year ago
I agree with you, prescriptive analytics provides recommendations based on data analysis.
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Buck
2 years ago
Hmm, I'm not sure if this is the right type of analytics. Doesn't it feel a bit too 'prescriptive' for our financial institution?
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Kerry
1 year ago
D: It could be, but prescriptive analytics can help us make better loan offers and manage risk.
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Valentin
1 year ago
C: But do you think it might be too 'prescriptive' for our financial institution?
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Sherly
1 year ago
B: I agree, prescriptive analytics provides recommendations for optimal actions based on data analysis.
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Altha
1 year ago
A: I think this application falls under prescriptive analytics.
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Val
2 years ago
Prescriptive analytics? That's the one that gives me recommendations, right? Sounds like exactly what we need for our credit scoring app.
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Shawna
2 years ago
Absolutely, prescriptive analytics uses techniques like optimization and simulation to generate optimal actions. It's ideal for determining loan offers and managing risk.
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Merilyn
2 years ago
Yes, prescriptive analytics provides recommendations based on data analysis. It would be perfect for our credit scoring app.
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Tiera
2 years ago
I think the application is an example of prescriptive analytics.
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