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SDS Problem identification and data readiness

Written by Saad Rahman (ACCA)

7 ACCA New at Strategic Professional level questions with answers and explanations.

Printable worksheet with answer key

All questions with answers
  1. In a data science project, the first stage of CRISP-ML is:

    • 1 Monitoring
    • 2 Business and data understanding
    • 3 Deployment
    • 4 Modelling
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    Correct answer: Business and data understanding

    The project starts by defining the problem and checking whether suitable data exists.

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  2. Which statement describes a well-scoped data science problem?

    • 1 It starts with the choice of algorithm
    • 2 It has no stakeholders
    • 3 It states a specific decision, a measure of success and the data available
    • 4 It says 'use AI to improve results'
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    Correct answer: It states a specific decision, a measure of success and the data available

    A well-scoped problem links to value and can be measured.

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  3. A data quality audit would check completeness, accuracy, consistency and:

    • 1 The server brand
    • 2 The number of users
    • 3 Timeliness and validity
    • 4 The colour of the charts
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    Correct answer: Timeliness and validity

    These are standard dimensions of data quality, and uniqueness is also commonly tested.

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  4. A model is built on five years of customer data collected only from branch customers, and will be used for online customers. The main concern is:

    • 1 The model is too fast
    • 2 The users are too many
    • 3 The data may not be representative
    • 4 The data is too clean
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    Correct answer: The data may not be representative

    Models perform poorly when training data differs from the population to which it is applied.

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  5. A deployed model's accuracy falls over time because customer behaviour has changed. This is called:

    • 1 Underfitting
    • 2 Data leakage
    • 3 Model drift
    • 4 Overfitting
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    Correct answer: Model drift

    Models need monitoring and maintenance after deployment.

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  6. Early stakeholder engagement in a data science project is important mainly because it:

    • 1 Reduces the need for data
    • 2 Allows the team to avoid documentation
    • 3 Ensures that the work addresses a real need and increases the chance the result is used
    • 4 Avoids all risk
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    Correct answer: Ensures that the work addresses a real need and increases the chance the result is used

    Poor engagement leads to models that are never adopted.

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  7. Which of these is a data preparation task?

    • 1 Handling missing values and encoding categories
    • 2 Presenting results to the board
    • 3 Monitoring drift
    • 4 Agreeing the problem
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    Correct answer: Handling missing values and encoding categories

    Preparation makes the data suitable for modelling.

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