Question 1

Most transactional databases are not set up to be simultaneously accessed for reporting and analysis. As a consequence:

Accepted Answer

A)   navigational databases are being preferred over transactional databases.
B)   data is not efficiently transformed into information.
C)   firms prefer to outsource data mining operations to third-party firms.
D)   analysts must also become transactional specialists.
E)   most firms incur additional expenditure to effectively record transactions.F) All of the above
G) None of the above

Question 2

In database systems, a _____ defines the data that a table can hold.

Accepted Answer

A)   row
B)   key
C)   record
D)   file
E)   fieldF) A) and B)
G) A) and E)

Question 3

Data obtained from outside sources, when combined with a firm's proprietary internal data assets, can give the firm a competitive edge.

Accepted Answer

A) True 
 B)False

Question 4

_____ are the most common standard for expressing databases, whereby tables (files) are related based on common keys.

Accepted Answer

Relational...

Question 5

Wal-Mart supplements its huge data assets with additional data provided by information brokers like Information Resources and ACNielsen.

Accepted Answer

A) True 
 B)False

Question 6

Dynamic pricing is considered especially tricky in situations where consumers make repeated purchases and are more likely to remember past prices, and when they have alternative choices.

Accepted Answer

A) True 
 B)False

Question 7

_____ refer to older information systems that are often incompatible with other systems, technologies, and ways of conducting business.

Accepted Answer

A)   Data aggregator systems
B)   Loyalty card systems
C)   Legacy systems
D)   Transaction systems
E)   Mnemonic systemsF) A) and B)
G) B) and C)

Question 8

How has Wal-Mart leveraged information technology to become the world's largest retailer?

Accepted Answer

Wal-Mart demonstrates how a physical pro...

Question 9

Which of the following conditions is essential for data mining to work?

Accepted Answer

A)   The data must be collected from proprietary sources and not from data aggregators.
B)   The organization must leverage standard relational databases as opposed to inferior hierarchical and analytical databases.
C)   The events in the data should reflect current and future trends.
D)   The data mining software must necessarily incorporate ad hoc reporting tools and dashboards.
E)   The data should have passed the Diehard suite of stringent tests for randomness.F) A) and D)
G) A) and E)

Question 10

The open-source project known as ____________ was created to analyze massive amounts of raw information better than traditional, highly structured databases.

Accepted Answer

The answer of The open-source project known as ____________ was...

Question 11

In many organizations, the majority of available data is not exploited to advantage.

Accepted Answer

A) True 
 B)False

Question 12

Why do firms need to create separate data repositories for their reporting and analytics work?

Accepted Answer

A)   Most firms store their data assets offsite to insure themselves against the possibility of data damage through natural disasters.
B)   Maintaining huge databases can be a cost-sink for most firms.
C)   Most organizations need to differentiate data derived in-house and from data aggregators.
D)   Running analytics against transactional data can bog down a TPS.
E)   Reporting and analytics are two separate functions, each requiring its own separate database specifically formatted to the needs of the management team.F) C) and D)
G) A) and C)

Question 13

_____ systems are often used to empower employees to track and record data at nearly every point of customer contact.

Accepted Answer

CRM or cus...

Question 14

_____ are model building techniques where computers examine many potential solutions to a problem, iteratively modifying various mathematical models, and comparing the mutated models to search for a best alternative.

Accepted Answer

A)   Expert systems
B)   Ad hoc reporting tools
C)   Iterative mutations
D)   Sampled alliterations
E)   Genetic algorithmsF) D) and E)
G) B) and E)

Question 15

A _____ is a system that provides rewards and usage incentives, typically in exchange for a method that provides a more detailed tracking and recording of consumer activity.

Accepted Answer

A)   sugging report
B)   canned report
C)   dashboard
D)   legacy system
E)   loyalty programF) B) and C)
G) All of the above

Question 16

In database terminology, a record represents:

Accepted Answer

A)   a list of data, arranged in columns and rows.
B)   all of the data in a given column.
C)   a single instance of whatever the table keeps track of.
D)   a field or combination of fields used to uniquely identify a file.
E)   one or more keys that relate separate tables in a database.F) A) and B)
G) D) and E)

Question 17

Logistics is the term that describes the extensive use of data, statistical and quantitative analysis, explanatory and predictive models, and fact-based management to drive decisions and actions.

Accepted Answer

A) True 
 B)False

Question 18

In data warehousing projects, it is not uncommon for spending on consulting and services to cost five times or more than the cost of the technology itself.

Accepted Answer

A) True 
 B)False

Question 19

While spreadsheets are popular tools, they cannot effectively be used for "what-if" analysis.

Accepted Answer

A) True 
 B)False

Question 20

Enterprise software tends to be less integrated and standardized than the prior era of proprietary systems that many firms developed themselves.

Accepted Answer

A) True 
 B)False

Exam 15: The Data Asset: Databases, Business Intelligence, Analytics, Big Data, and Competitive Advantage

A _____ is a system that provides rewards and usage incentives, typically in exchange for a method that provides a more detailed tracking and recording of consumer activity.

Correct AnswerverifiedShow Answer

In database systems, a _____ defines the data that a table can hold.

Correct AnswerverifiedShow Answer

Wal-Mart supplements its huge data assets with additional data provided by information brokers like Information Resources and ACNielsen.

Correct AnswerverifiedShow Answer

_____ systems are often used to empower employees to track and record data at nearly every point of customer contact.

Correct AnswerverifiedCRM or cus...View AnswerShow Answer

In many organizations, the majority of available data is not exploited to advantage.

Correct AnswerverifiedShow Answer

Dynamic pricing is considered especially tricky in situations where consumers make repeated purchases and are more likely to remember past prices, and when they have alternative choices.

Correct AnswerverifiedShow Answer

How has Wal-Mart leveraged information technology to become the world's largest retailer?

Correct AnswerverifiedWal-Mart demonstrates how a physical pro...View AnswerShow Answer

_____ are model building techniques where computers examine many potential solutions to a problem, iteratively modifying various mathematical models, and comparing the mutated models to search for a best alternative.

Correct AnswerverifiedShow Answer

Logistics is the term that describes the extensive use of data, statistical and quantitative analysis, explanatory and predictive models, and fact-based management to drive decisions and actions.

Correct AnswerverifiedShow Answer

While spreadsheets are popular tools, they cannot effectively be used for "what-if" analysis.

Correct AnswerverifiedShow Answer

Why do firms need to create separate data repositories for their reporting and analytics work?

Correct AnswerverifiedShow Answer

Most transactional databases are not set up to be simultaneously accessed for reporting and analysis. As a consequence:

Correct AnswerverifiedShow Answer

The open-source project known as ____________ was created to analyze massive amounts of raw information better than traditional, highly structured databases.

Correct AnswerverifiedShow Answer

In database terminology, a record represents:

Correct AnswerverifiedShow Answer

_____ refer to older information systems that are often incompatible with other systems, technologies, and ways of conducting business.

Correct AnswerverifiedShow Answer

Data obtained from outside sources, when combined with a firm's proprietary internal data assets, can give the firm a competitive edge.

Correct AnswerverifiedShow Answer

Which of the following conditions is essential for data mining to work?

Correct AnswerverifiedShow Answer

In data warehousing projects, it is not uncommon for spending on consulting and services to cost five times or more than the cost of the technology itself.

Correct AnswerverifiedShow Answer

_____ are the most common standard for expressing databases, whereby tables (files) are related based on common keys.

Correct AnswerverifiedRelational...View AnswerShow Answer

Enterprise software tends to be less integrated and standardized than the prior era of proprietary systems that many firms developed themselves.

Correct AnswerverifiedShow Answer

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CRM or cus...
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Wal-Mart demonstrates how a physical pro...
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Relational...
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