Chapter 12 Questions

Question 1

This is the term used to describe the techniques and technology that make it possible to deal with very large volumes of information that are created and stored for analysis.

Data warehouse

Database

Big data

Data analytics

Business intelligence

Answer 1

Big data

Question 2

All of the following are components of business analytics EXCEPT for:

A data repository

Software tools

Project stakeholders

Data driven environment

A skilled workforce

Answer 2

Project stakeholders

Question 3

To support the analytical needs of an organization, data warehouses need to be all of the following EXCEPT:

Scalable

Compatible with the IT infrastructure

Agile to support changing requirements

Secure

Inaccessible

Answer 3

Inaccessible

Question 4

Data is more important than knowledge.

True
False

Answer 4

False

Question 5

This allows individuals to own their creativity and innovation in a way similar to owning physical property.

Intellectual property

Open source license agreement

Economies of scale

Intellectual capital

Patents

Answer 5

Intellectual property

Question 6

More human contribution goes into creating information than knowledge.

True
False

Answer 6

False

Question 7

Companies that use big data and analytics can be helped by making information more hidden, and making sure to avoid experimentation (which can become reckless).

True
False

Answer 7

False

Question 8

This is an ad-hoc codification system that manages tags for annotating and categorizing content.

Collaborative data store

Folksonomy

Data mart

Socio-content

Social Network

Answer 8

Folksonomy

Question 9

All of the following are common elements of a BI system EXCEPT for:

Reporting

Dashboards

Querying

Supply chain management

Scorecards

Answer 9

Supply chain management

Question 10

By utilizing business analytics, a company can learn which one of the following?

Which products are moving slowly versus which products are moving quickly

Which products have been sold in the past 3 months

Who is likely to buy the product in a given period of time

Where each product sits (warehouse, store or factory location)

The suppliers who contributed to the manufacturing of the product

Answer 10

Who is likely to buy the product in a given period of time

Question 11

These are collections of data designed to support management decision making, and sometimes serve as repositories of organizational knowledge.

Data-marts

Data containers

Data warehouses

Data storage centers

RAID

Answer 11

Data warehouses

Question 12

All of the following are main processes of knowledge management EXCEPT:

The generation of knowledge

The capturing of knowledge

The absorption of knowledge

The codification of knowledge

The transfer of knowledge

Answer 12

The absorption of knowledge

Question 13

A company that is using statistical analysis tools to report on why something happened has achieved a higher level of analytical maturity than a company that’s using tools to predict what will happen next.

True
False

Answer 13

False

Question 14

Unlike other baseball teams at the time, the Oakland A’s used this to manage the team and carry themselves to the playoffs.

Players with lots of determination

Young players with the willingness to play

Factual data

High player salaries

High batting averages

Answer 14

Factual data

Question 15

Data is defined as simple observations of the state of the world, and it is easily captured on machines.

True
False

Answer 15

True

Question 16

Knowledge that has been identified, captured, and leveraged to produce higher-value goods or services or some other competitive advantage for the firm is called:

Information

Intellectual capital

Competitive advantage data

Business intelligence

System data

Answer 16

Intellectual capital

Question 17

________________ is hard to explain, hard to transfer, and highly personal to the source.

Data

Tacit knowledge

Implicit knowledge

Explicit knowledge

Information

Answer 17

Tacit knowledge

Question 18

The CEO-level sponsorship of and passion for analytics enabled firms like Caesars and Capital One to achieve the success they did.

True
False

Answer 18

True

Question 19

“False discoveries” are a downside to the analysis of big data.

True
False

Answer 19

True

Question 20

This company approach is one in which facts are gathered and analyzed as the first step in decision making.

Information-driven management

Hierarchical structure

Network structure

Evidence-based management

Social analytics

Answer 20

Evidence-based management

Question 21

The four main types of intellectual property are all of the following EXCEPT:

Patent

Trademarks

Designs

Data warehouse

Copyrights

Answer 21

Data warehouse

Question 22

Tacit knowledge is easy to formalize.

True
False

Answer 22

False

Question 23

Knowledge is valuable information from the human mind while information is data with relevance and purpose

True
False

Answer 23

True

Question 24

All of the following are examples of socialization EXCEPT for:

Sharing war stories

Apprenticeships

Conferences

Non-structured activities, like an office party or lunch discussion

Project management

Answer 24

Project management

Question 25

________________ is the process of analyzing data warehouses for “gems”

Data combing

Data translation

Data mining

Data searching

Data manipulation

Answer 25

Data mining

Question 26

IT is traditionally focused on _______________.

data

tacit knowledge

implicit knowledge

explicit knowledge

information

Answer 26

explicit knowledge