Question 1

E-discovery refers to:

Accepted Answer

A)   identifying and retrieving relevant electronic information to support litigation efforts.
B)   something a firm does not account for in its archiving and data storage plans.
C)   older information systems that are often incompatible with other systems, technologies, and ways of conducting business.
D)   collecting and reselling data.
E)   rewards and usage incentive, typically in exchange for a method that provides a more detailed tracking and recording of consumer activity.F) B) and C)
G) A) and D)

Question 2

Briefly describe the different sources of enterprise data for firms.

Accepted Answer

For organizations that sell directly to ...

Question 3

_____ is by far the most popular language for creating and manipulating databases.

Accepted Answer

A)   XML
B)   HTML
C)   PHP
D)   Java
E)   SQLF) B) and D)
G) All of the above

Question 4

Systems that can absorb any type of data, structured or not, from any type of source are often called schema-less.

Accepted Answer

A) True 
 B)False

Question 5

Having too much inventory or insufficient inventory is known as a retailer's "twin nightmares."

Accepted Answer

A) True 
 B)False

Question 6

_____ is a class of computer software that seeks to reproduce or mimic human thought, decision making, or brain functions.

Accepted Answer

A)   Biometrics
B)   Artificial intelligence
C)   Android
D)   Legacy software
E)   IntranetF) A) and B)
G) B) and D)

Question 7

Changing pricing based on demand conditions is known as ________.

Accepted Answer

The answer of Changing pricing based on demand conditions is...

Question 8

Airbnb's "____________" feature helps by leveraging the firm's industry-leading dataset, far larger and more comprehensive than rivals, and constantly updated over time, to suggest the perfect rate.

Accepted Answer

The answer of Airbnb's "____________" feature helps by leveraging the...

Question 9

Random occurrences in data mining results can be detected by dividing the data and building a model with one portion and using another portion to verify the results.

Accepted Answer

A) True 
 B)False

Question 10

Inventory turnover ratio is:

Accepted Answer

A)   the ratio of a company's annual sales to its inventory.
B)   the ratio of a company's variable cost to its inventory.
C)   the ratio of a company's fixed cost to its inventory.
D)   the ratio of a company's annual cost to its inventory.
E)   the ratio of a company's fixed assets to its inventory.F) A) and B)
G) B) and D)

Question 11

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) B) and D)
G) All of the above

Question 12

Tesco is the planet's largest retailer.

Accepted Answer

A) True 
 B)False

Question 13

Data mining is leveraged by some firms to determine which products customers buy together, and how an organization can use this information to cross-sell more products or services. This area of application of data mining is referred to as:

Accepted Answer

A)   market basket analysis.
B)   expert systems.
C)   customer churn.
D)   customer segmentation.
E)   vertical integration.F) All of the above
G) B) and C)

Question 14

In database systems, a table is also known as a _____.

Accepted Answer

A)   field
B)   record
C)   file
D)   row
E)   keyF) B) and E)
G) C) and D)

Question 15

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

Accepted Answer

Wal-Mart demonstrates how a physical pro...

Question 16

If a customer pays a retailer in cash, he is likely to remain a mystery to the retailer because his name is not attached to the money. Retailers can tie the customer to cash transactions and track the customer's activity if they can convince the customer to use a _____.

Accepted Answer

A)   transaction processing system
B)   point-of-sale terminal
C)   data cube
D)   dashboard
E)   loyalty cardF) C) and E)
G) A) and D)

Question 17

_____ is the process of using computers to identify hidden patterns in and to build models from large data sets.

Accepted Answer

A)   Data harvesting
B)   E-discovery
C)   Optimization
D)   Report canning
E)   Data miningF) B) and E)
G) A) and D)

Question 18

The data a firm can leverage is a true strategic asset when it is valuable, rare, imperfectly imitable, and non-substitutable.

Accepted Answer

A) True 
 B)False

Question 19

The category of AI technology used by Google to recognize patterns to improve speech recognition is known as ______________.

Accepted Answer

The answer of The category of AI technology used by...

Question 20

_____ are AI systems that leverage rules or examples to perform a task in a way that mimics applied human expertise.

Accepted Answer

The answer of _____ are AI systems that leverage rules...

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

Systems that can absorb any type of data, structured or not, from any type of source are often called schema-less.

Correct AnswerverifiedShow Answer

_____ is a class of computer software that seeks to reproduce or mimic human thought, decision making, or brain functions.

Correct AnswerverifiedShow Answer

_____ are AI systems that leverage rules or examples to perform a task in a way that mimics applied human expertise.

Correct AnswerverifiedShow Answer

E-discovery refers to:

Correct AnswerverifiedShow Answer

Changing pricing based on demand conditions is known as ________.

Correct AnswerverifiedShow Answer

Inventory turnover ratio is:

Correct AnswerverifiedShow Answer

Random occurrences in data mining results can be detected by dividing the data and building a model with one portion and using another portion to verify the results.

Correct AnswerverifiedShow Answer

_____ is the process of using computers to identify hidden patterns in and to build models from large data sets.

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

Airbnb's "____________" feature helps by leveraging the firm's industry-leading dataset, far larger and more comprehensive than rivals, and constantly updated over time, to suggest the perfect rate.

Correct AnswerverifiedShow Answer

Briefly describe the different sources of enterprise data for firms.

Correct AnswerverifiedFor organizations that sell directly to ...View AnswerShow Answer

Data mining is leveraged by some firms to determine which products customers buy together, and how an organization can use this information to cross-sell more products or services. This area of application of data mining is referred to as:

Correct AnswerverifiedShow Answer

Tesco is the planet's largest retailer.

Correct AnswerverifiedShow Answer

If a customer pays a retailer in cash, he is likely to remain a mystery to the retailer because his name is not attached to the money. Retailers can tie the customer to cash transactions and track the customer's activity if they can convince the customer to use a _____.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The data a firm can leverage is a true strategic asset when it is valuable, rare, imperfectly imitable, and non-substitutable.

Correct AnswerverifiedShow Answer

The category of AI technology used by Google to recognize patterns to improve speech recognition is known as ______________.

Correct AnswerverifiedShow Answer

Having too much inventory or insufficient inventory is known as a retailer's "twin nightmares."

Correct AnswerverifiedShow Answer

In database systems, a table is also known as a _____.

Correct AnswerverifiedShow Answer

_____ is by far the most popular language for creating and manipulating databases.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Wal-Mart demonstrates how a physical pro...
View Answer

Correct Answer
verified

Correct Answer
verified
For organizations that sell directly to ...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified