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BUS 550 Final > Ch. 13B Data Assets > Flashcards

Ch. 13B Data Assets Flashcards

1
Q

Firms that base decisions on hunches are said to be gambling, not managing.

True or False?

A

True

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2
Q

The data mining operations at Caesars have revealed that most of the revenue it generates comes from ultra affluent classes of consumers (think European princes and shipping heirs) that are easily determined from postal code targeting.

True or False?

A

False.

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3
Q

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

True or False?

A

False

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4
Q

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.

True or False?

A

True

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5
Q

OLAP technology is primarily used for transaction processing.

True or False?

A

False

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6
Q

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

True or False?

A

False

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7
Q

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

True or False?

A

False.

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8
Q

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.

A

RFID

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9
Q

_____ is a language used to create and manipulate databases.

A

Structured Query Language (SQL)

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10
Q

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

A

CRM or customer relationship management

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11
Q

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

A

Neutral Networks

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12
Q

A publicly held company is said to be _____ if its outstanding shares are purchased by an individual or by a small group of individuals who wish to obtain complete ownership and control.

A

taken private

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13
Q

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

A

Relational databases

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14
Q

Walmart uses_____ technology to sift through massive amounts of social media data.

A

Hadoop

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15
Q

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

A. Biometrics
B. Artificial intelligence
C. Android
D. Legacy software
E. Intranet
A

B. Artificial intelligence

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16
Q

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

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.

A

C. The events in the data should reflect current and future trends.
The data mining software must necessarily incorporate ad hoc reporting tools and dashboards.

17
Q

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:

A. market basket analysis.
B. expert systems.
C. customer churn.
D. customer segmentation.
E. vertical integration.
A

A. market basket analysis.

18
Q

A(n) _____ is an AI system that examines data and hunts down and exposes patterns, in order to build models to exploit findings.

A. Hadoop
B. canned report
C. data aggregator
D. neural network
E. e-discovery
A

D. neural network

19
Q

_____ 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.

A. Canned reports
B. Ad hoc reporting tools
C. Dashboards
D. Data cubes
E. Online analytical processing
A

B. Ad hoc reporting tools

20
Q

_____ refers to software for creating, maintaining, and manipulating data.

A. Extranet
B. ROM
C. RAM
D. DBMS
E. Internet 2
A

D. DBMS

21
Q

What is Walmart’s motivation for sharing data with its supply partners?

A. Creating switching costs for suppliers
B. Lowering prices of products
C. Achieving maturity in the American market
D. Countering the accusations of union activists
E. Deflecting criticism for ruining local mom-and-pop stores

A

B. Lowering prices of products

22
Q

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

A. Most firms store their data assets offsite to insure themselves against the possibility of data damage through natural disasters.
B. Maintaining huge databases in-house 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 system.
E. Reporting and analytics are two separate functions, each requiring its own separate database specifically formatted to the needs of the management team.

A

D. Running analytics against transactional data can bog down a system.

23
Q

_____ 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.

A. Ad hoc reporting
B. E-discovery
C. Data aggregation
D. Online analytical processing
E. Data adjacency
A

D. Online analytical processing

24
Q

E-discovery refers to:

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.

A

A. identifying and retrieving relevant electronic information to support litigation efforts.

25
Q

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

A. table
B. column
C. key
D. record
E. field
A

D. record

BUS 550 Final (5 decks)

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