Chapter 5 - Tech affecting business and finance Flashcards
1
Q
What are the characteristics predicted to define the 4th Industrial revolution?
A
- Fusion
- Employment
- Artificial
- Machine led manufacturing
- Improved asset management
2
Q
What are the advantages of cloud computing?
A
- Flexibility
- Scalability
- Cost efficient
- Security
- Flexible working
- Environment
3
Q
What are the disadvantages of cloud computing?
A
- Organisational change
- Contract management
- Security
- Reliance
4
Q
What are the benefits of effective data analytics?
A
- Fresh insight and understanding
- Performance improvement
- Market segmentation and customisation
- Decision making
- Innovation
- Risk management
5
Q
What 5 features should an effective data visualisation tool display?
A
- Decision making ability
- Effective infrastructure
- Integration capability
- Prompt discovery of rules and insights
- Real time collaboration
6
Q
What is the main benefit of blockchain?
A
Security
7
Q
What are the stages of a blockchain transaction?
A
- Transaction requested
- Block created
- Block sent to all nodes
- Nodes validate authenticity
- Nodes receive a reward for proof of work
- Completed authorised block added to chain
8
Q
What devices are internet of things (IoT)?
A
Any everyday device
9
Q
What are the advantages of 3D printing?
A
- Speed
- Cost effectiveness
- Customisation
- Less waste
- Confidentiality
