EXAM 2 Flashcards
TRUE/FALSE: Il Makiage uses a proactive marketing strategy and primarily aims to attract new customers
FALSE. Il Makiage implements a reactive marketing strategy that targets repeat customers.
What is a threat facing Oddity and its technological innovation?
Fast Follower Problem
How many stints has Bob Iger spent as Disney as CEO?
2
Which of these is NOT owned by Disney?
Netflix
What industry is pioneering the use of skill-based hiring?
Technology
What percentage of employers are looking for badges on candidates’ LinkedIn pages?
45%
What are the two services provided by Alteryx?
Desktop and Cloud
What is Alteryx’s company goal?
To make data-driven decisions with better outcomes
What does AWS stand for?
Amazon Web Services
In Amazon’s value chain, which stage involves transforming raw materials and components into finished products that are ready for distribution to customers?
Operations
What was the first John Deere product?
A Steel Plow
Which AI company is a John Deere subsidiary?
Blue River
Which of these is not a Fintech example?
Netflix
TRUE/FALSE: Fintech is composed of specialized software and algorithms that are used on computers and smartphones
TRUE
__________ had the best-performing stock in the S&P 500 from ______________
Netflix; 2010-2019
What was Netflix’s IPO price?
$15 per share
When did Netflix go public?
May 23, 2002
WHat did Netflix start as?
A DVD Rental Business
In 2023, how many MILLION subscribers does Netflix have?
240-245
Who is Netflix’s CEO
Reed Hastings
Netflix’s biggest competitors in 2002
Walmart and Blockbuster
Netflix dominance was due to
Leveraging technology and timing
Where was Reed Hastings appointed after his success?
Board of Directors for both Microsoft and Facebook
The Quikster Debacle
Tried to split Netflix into 2 seperate services, lost 1M customers in 3 months
How was the Quikster Debacle resolved?
Originals and Expanding Availability
How much money did Netflix lose within minutes of Disney+ announcing that they would be offering a cheaper price?
8 BILLION
Who is the largest subscription streaming service?
Netflix
Netflix’s 3 Key Mutually Reinforcing Resources:
Brand, Scale, Data Asset (Cinematch)
What are brands built on?
Customer EXPERIENCE
Netflix was in what top rankings?
ACSI and Neilsen
Blockbuster and Walmart had _______________________ but that didn’t translate to ____________________
brand awareness, industry advantage
Netflix remained segment leader, as it had
Early entry and market execution
What helped grow Netflix’s scale?
58 distribution centers that could deliver overnight to 97% of the US population
Netflix had how many DVDs compared to the average 3,000?
125,000
The Long Tail
The large number of products unavailable through conventional retail stores
2 Factors that support The Long Tail
Selection attracts, Internet offers large inventory efficiencies
Example of collaborative filtering for Netflix
Cinematch
Collaborative Filtering
Software that monitors trends and applies it to user experiences
Recommended titles were ___% of the movies users ended up watching on Netflix
60
Cinematch operational advantage
Examines inventory availability and makes recommendations
Scale economies can be attained by:
leveraging the cost of an investment to units of production
Having a bigger customer base enables firms to have better:
Cost structure, profits, pricing
Netflix leverages user data to provide
Better customer experience, build brands
Netflix’s shift to a streaming model (from atoms to bits) is limited by:
(AACLOP) Availability, Acquisition costs, Competitors, Legal/Regulatory environment, Opportunities for revenue, Potential partners
Netflix switching from DVD to Internet caused stocks to drop from
$304 to $50
Digital Products have what type of costs?
Marginal Costs
First Sale Doctrine
a firm can distribute physical copies of legally acquired copyright-protected products
First Sale Doctrine allows firms to
lend products without paying royalties
__ firms make ___% of US media
6; 90%
Title availability is hindered by:
Windowing
Windowing
Content is available to a given distribution channel for a specified time window
Content providers are the sole source for
Unique Titles
The media industry is an
Oligopoly
Since Netflix is a streaming service, they must pay consistently for:
A streaming license
Netflix costs of acquiring content
increased
43x the amount it had spent the 5 years prior
Offering ‘Originals’ is what type of integration?
Vertical
Netflix offers more programming than
Pay Channels
Netflix’s user data is used to:
Recommend, Improve design, Leverage costs, Make creative decisions, Audience Promos
Why is Netflix streaming on more devices than competitors?
They’re making their tech available to hardware firms
2 big issues with international expansion
Licensing costs, Legal requirements
Threats Netflix faces from ISPs
Bandwidth caps, Quality charging
Netflix runs on
Amazon’s Cloud servers
Netflix handles ___________, Amazon handles _____________
Software; Hardware
What type of software does Netflix have?
Open Source
Microservices Architecture
App split into little parts that have their own APIs to control
API stands for
Application Programming Interface
Codec
Technology used in media compression
Disruptive technologies create
Market shocks and growth
7 Companies that dont require a college degree
IBM, Accenture, OKTA, Bank of America, DELL, Google, Delta
Do managers typically respond to threats of disruptive tech?
NO
Disruptive Innovation Goals
Challenge and Create
Sustaining Innovation Goals
Improve and Build
Value Network
Internal/External Connections an organization interacts with
Does technology alone create disruption?
NO, must also have strong business model
2 Threatening Characteristics of Disruptive Tech
Are not valued, Invades established markets
What shift brought about disruptive technologies?
Shift from analog to digital
Techniques used to better recognize disruptive technologies
External convos w pioneers, Internal convos with engineers
What encourages new market and technology development?
Having innovation separated from core businesses
When did Kodak go bankrupt?
2002
(Disruptive Tech) Big Firms should do these things
Invest in startups and internal efforts
“Creosote Bush” Effect
Prioritizing the work of good engineers on immediate work, not future-plannings
Piloting a firm through disruptive innovation is
extremely difficult
When a firm undergoes disruptive innovation, they may see:
Lower margins and compressed revenues
Bitcoin
open source, decentralized payment system
Bitcoin operates in a
Peer-to-peer environment without bank or central authority
Blockchain Technologies
A distributed and decentralized ledger that records and verifies transactions and ownership.
Jobs that will become more automated
Anything that uses processes or simple problem-solving
Jobs that will remain dominated by humans
Anything relational or problems that require complex solutions (ex. Crisis Management)
Top 4 Barriers to AI Adoption
(MFSC) Maturity, Fear, Starting-Point, Complexity
Data
Raw facts and figures that can be turned into info
Information
Data to answer a question or support decision-making
3 V’s of Big Data
Volume, Variety, Velocity
Big Data
(CSA) The collection, storage, and analysis of extremely large data to generate insights
Business intelligence (BI)
Reporting, data exploration,
and sophisticated data
modeling/analysis
Analytics
statistical and quantitative analysis, explanatory and predictive models, and fact-based management to drive decisions and actions
The amount of data being created doubles every
2 Years
Advantages based on capabilities and data that others can acquire will be
SHORT LIVED
Data helps build
Competitive Advantage
DBMS is also known as
Database Software
Most common database standard
Relational Database Management Systems
Most popular standard for relational database systems
SQL
RDBS Chain
Data Fields -> Data Records -> Data File -> Database
Database
A collection of related tables
Table
A list of data, arranged in columns and rows
Record
A single instance of whatever the
table keeps track of
Field
A column in a database table
Primary Key
Field(s) that uniquely identify a record
Foreign Key
A field in common between 2 tables
Column
Each category of data contained in a
record
Managing database servers can be given to
Third Parties like DevOps
By using DevOps, the programmer need only
Write the code and the vendor will manage the system, it’s security and hardware provisioning
Data that is inaccessible is often referred to as being
Siloed
Structured Query Language (SQL)
A language used to create and
manipulate databases
Threats of Data Aggregators
Identity theft, Incorrect data, Privacy Concerns
What type of systems limit data utilization since they were not built to be shared?
Legacy Systems
What types of databases were not set up to run reporting AND analysis?
Transactional Databases
Large Data Warehouses disadvantages
Costly, Timely, Complex
Data Warehouses and Data Marts hold
Transactional data waiting to be reported/analyzed
Data Lakes
Storage and access technologies used in Big Data
Hadoop
(SEC) open-source tools managing data for storage, extraction, and computation
Advantages of systems like Hadoop
(FSCF) Flexible, scalable, cost-effective, fault-tolerant
Canned Reports
Regular summaries of information in a predetermined format
ad hoc reporting tools
Users control custom reports on an as-needed basis by selecting fields, ranges, summary conditions, and other parameters
Dashboards
Display of critical indicators to get key performance metrics
online analytical processing (OLAP)
Takes data from relational databases, calculates and summarizes the data, and then stores the data in a data cube
Data Cube Location
Width
Data Cube Product
Height
Data Cube Time
Length
Data Cube Cell
Piece
Data mining is used to addess issues relating to
Segmentation, Marketing, Targeting and Filtering
Over-engineering can lead to
Bad results
Will analytics always find a solution?
NO, sometimes they just find patterns
A competent business analytics team should possess three critical skills:
Info technology, Stats, Business Knowledge
AI can still possess
Unintended bias, discrimination, and violations of privacy
What helps make tech more ethical?
Hire ethicists, Code of Ethics, Training, Remedies
Pre-reqs for data mining to work
Clean data, Reflect Trends
3 Components to a Human-Centered Design Approach
(DVF) Desirability, Viability, Feasibility
Design Challenge Pathway
(PERIPT) Plan, Empathize, Reframe, Ideate, Prototype, Test
Land O Lakes Question
Persona: Land O Lakes Executives
Goal: Maximize Market Share
Problem: Aggressive Competition
Solution: Using technology to analyze their competitor’s marketing strategies and improving theirs based on suggestions found in analysis
