ITQ 13

A study by Gartner Research claims that the amount of data on corporate hard drives doubles every three years. A. True B. False

__________ is the term used to describe some form of business exchange.

In database systems, a ___________ refers to a list of data. 1) file 2) column 3) field 4) row 5) record

Data can potentially be used as a strategic asset, capable of yielding sustainable competitive advantage. Which of the items below is not a characteristic of a potentially strategic asset. 1) value 2) rarity 3) imperfect imitability 4) lead time 5) non-substitutability

__________ refers to a job title focused on directing, performing, or overseeing activities associated with a database or set of databases.

Firms that collect and resell data are known as: 1) data barons 2) data mongers 3) knowledge consultancies 4) data miners 5) data aggregators

____________ is by far the most popular language for creating and manipulating databases. 1) XML 2) HTML 3) PHP 4) Java 5) SQL

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. 1) sugging report 2) canned report 3) dashboard 4) legacy system 5) loyalty program

Why do firms need to create separate data repositories for their reporting and analytics work? 1) Most firms store their data assets offsite to insure themselves against the possibility of data damage through natural disasters. 2) Maintaining huge databases in-house can be a cost-sink for most firms. 3) Most organizations need to differentiate data derived in-house and from data aggregators. 4) Running analytics against transactional data can bog down a system 5) Reporting and analytics are two separate functions, each requiring its own separate database specifically formatted to the needs of the management team.

In database terminology, a record represents: 1) a list of data, arranged in columns and rows 2) all of the data in a given column 3) a single instance of whatever the table keeps track of 4) a field or combination of fields used to uniquely identify a file 5) one or more keys that relate separate tables in a database

OLAP technology is primarily used for transaction processing. 1) True 2) False

_________ refers to the process of combining aspects of reporting, data exploration, and ad hoc queries, and sophisticated data modeling and analysis. 1) Logisitics 2) Queritic modeling 3) Business intelligence 4) Electronic trading 5) Big data

All SQL databases are relational databases. 1) True 2) False

In database systems, a table is also known as a __________. 1) field 2) record 3) file 4) row 5) key

_________ is the process of using computers to identify hidden patterns in and to build models from large data sets. 1) Data harvesting 2) E-discovery 3) Optimization 4) Report canning 5) Data mining

Changing pricing based on demand conditions is known as _________.

Data warehouses are composed entirely of proprietary corporate data, while data marts take advantage of data purchased from third-party firms. 1) True 2) False

Which of the following is not considered an advantage of Hadoop? 1) flexibility 2) relational structure 3) scalability 4) cost effectiveness 5) fault tolerance

Data are raw facts that must be turned into information in order to be useful and valuable. 1) True 2) False

Any data-centric effort should involve input not only from business and technical staff, but from the firm's legal team as well. 1) True 2) False

Data becomes _________ when it is presented in a context so that it can answer a question or support decision making. 1) knowledge 2) information 3) a database 4) wisdom 5) a relational language

__________ is the general term used to describe the massive amount of data available to today's managers.

A(n) ______________ refers to a heads-up display of critical indicators that allow managers to get a graphical glance at key performance metrics. 1) interstitial 2) embassy 3) canned report 4) prediction interface 5) dashboard

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. 1) True 2) False

In database systems, a column is also known as a key. 1) True 2) False

In database systems, a row is also known as a _____________. 1) table 2) column 3) key 4) record 5) field

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 and services. This area of application of data mining is referred to as: 1) market basket analysis 2) expert systems 3) customer churn 4) customer segmentation 5) vertical integration

___________ is a class of computer software that seeks to reproduce or mimic human thought, decision making, or brain functions. 1) Biometrics 2) Artificial intelligence 3) Android 4) Legacy software 5) Intranet

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

____________ put(s) users in control so that they can create custom reports on an as-needed basis by selecting fields, ranges, summary conditions, and other parameters. 1) Canned reports 2) Ad hoc reporting tools 3) Dashboards 4) Data cubes 5) Online analytical processing

Which of the following conditions is essential for data mining to work? 1) The data must be collected from proprietary sources and not from data aggregators. 2) The organization must leverage standard relational databases as opposed to inferior hierarchical and analytical databases. 3) The events in the data should reflect current and future trends 4) The data mining software must necessarily incorporate ad hoc reporting tools and dashboards. 5) The data should have passed the Diehard suite of stringent tests for randomness.

Systems that record a transaction (some form of business-related exchange), such as a cash register sale, ATM withdrawal, or product return are referred to as __________.

In many organizations, the majority of available data is not exploited to advantage. 1) True 2) False

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. 1) True 2) False

Advantages based on capabilities and data that others can acquire are long-lived. 1) True 2) False

In database systems, a ___________ defines the data that a table can hold. 1) row 2) key 3) record 4) file 5) field

E-discovery refers to: 1) identifying and retrieving relevant electronic information to support litigation efforts 2) something that a firm does not account for int is archiving and data storage plans 3) older information systems that are often incompatible with other systems, technologies, and ways of conducting business 4) collecting and reselling data 5) rewards and usage incentive, typically in exchange for a method that provides a more detailed tracking and recording of consumer activity

___________ refers to software for creating, maintaining, and manipulating data. 1) Extranet 2) ROM 3) RAM 4) DBMS 5) Internet 2

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 ____________. 1) transaction processing systems 2) point of sale terminals 3) data cubes 4) dashboards 5) loyalty cards

Enterprise software tends to be less integrated and standardized than the prior era of proprietary systems that many firms developed themselves 1) True 2) False

Firms that base decisions on hunches are said to be gambling, not managing. 1) True 2) False

The data a firm can leverage is a true strategic asset when it is imperfectly imitable. 1) True 2) False

___________ is a language used to create and manipulate databases.

A data cube refers to a: 1) secure, cloud-based off-sit location used for data storage, analysis, and reporting 2) heads-up display of critical indicators that allows managers to get a graphical glance at key performance metrics 3) special database used to store data in OLAP reporting 4) firm that collects data with the intention of reselling it to others 5) combination of fields used to uniquely identify a record, and to relate separate tables in a database

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. 1) True 2) False

Data obtained from outside sources, when combined with a firm's proprietary internal data assets, can give the firm a competitive edge. 1) True 2) False

____________ is a method of querying and reporting that takes data from standard relational databases, calculates and summarizes the data, and then stores the data in a special database called a data cube. 1) Ad hoc reporting 2) E-discovery 3) Data aggregation 4) Online analytical processing 5) Data adjacency

__________ is the term used to describe raw facts and figures. 1) Information 2) Knowledge 3) Analytics 4) Data 5) Intelligence

Skittish and untrusting managers should realize that the first findings of analytics always reveal an optimal course of action. 1) True 2) False

____________ refer to databases focused on addressing the concerns of a specific problem or business unit. 1) Data marts 2) Dashboards 3) Hadoop 4) Data aggregators 5) Data analytics

Most transactional databases are not set up to be simultaneously accessed for reporting and analysis. As a consequence: 1) navigational databases are being preferred over transactional databases 2) data is not efficiently transformed into information 3) firms prefer to outsource data mining operations to third party firms 4) analysts must also become transactional specialists 5) most firms incur additional expenditure to effectively record transactions

The acronym ____________ refers to a technology that is often used to tag objects and inventory items so that they can 'announce their presence' as they make their way along an organization's value chain.

___________ refer to older information systems that are often incompatible with other systems, technologies, and ways of conducting business. 1) Data aggregator systems 2) Loyalty card systems 3) Legacy systems 4) Transaction systems 5) Mnemonic systems

Knowledge is defined as: 1) raw facts and figures 2) the data presented in a context so that it can answer a question or support decision making 3) the insight derived from experience and expertise 4) a listing of primary data 5) the process of breaking a complex topic into smaller parts

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

Turning data into useable information is hindered by transactional databases set up to be simultaneously accessed for reporting and analysis. 1) True 2) False

While spreadsheets are popular tools, they cannot effectively be used for "what-if" analysis. 1) True 2) False