EXAM 2 Flashcards
1
Q
TRUE/FALSE: Il Makiage uses a proactive marketing strategy and primarily aims to attract new customers
A
FALSE. Il Makiage implements a reactive marketing strategy that targets repeat customers.
2
Q
What is a threat facing Oddity and its technological innovation?
A
Fast Follower Problem
3
Q
How many stints has Bob Iger spent as Disney as CEO?
A
2
4
Q
Which of these is NOT owned by Disney?
A
Netflix
5
Q
What industry is pioneering the use of skill-based hiring?
A
Technology
6
Q
What percentage of employers are looking for badges on candidates’ LinkedIn pages?
A
45%
7
Q
What are the two services provided by Alteryx?
A
Desktop and Cloud
8
Q
What is Alteryx’s company goal?
A
To make data-driven decisions with better outcomes
9
Q
What does AWS stand for?
A
Amazon Web Services
10
Q
In Amazon’s value chain, which stage involves transforming raw materials and components into finished products that are ready for distribution to customers?
A
Operations
11
Q
What was the first John Deere product?
A
A Steel Plow
12
Q
Which AI company is a John Deere subsidiary?
A
Blue River
13
Q
Which of these is not a Fintech example?
A
Netflix
14
Q
TRUE/FALSE: Fintech is composed of specialized software and algorithms that are used on computers and smartphones
A
TRUE
15
Q
__________ had the best-performing stock in the S&P 500 from ______________
A
Netflix; 2010-2019
16
Q
What was Netflix’s IPO price?
A
$15 per share
17
Q
When did Netflix go public?
A
May 23, 2002
18
Q
WHat did Netflix start as?
A
A DVD Rental Business
19
Q
In 2023, how many MILLION subscribers does Netflix have?
A
240-245
20
Q
Who is Netflix’s CEO
A
Reed Hastings
21
Q
Netflix’s biggest competitors in 2002
A
Walmart and Blockbuster
22
Q
Netflix dominance was due to
A
Leveraging technology and timing
23
Q
Where was Reed Hastings appointed after his success?
A
Board of Directors for both Microsoft and Facebook
24
Q
The Quikster Debacle
A
Tried to split Netflix into 2 seperate services, lost 1M customers in 3 months
25
How was the Quikster Debacle resolved?
Originals and Expanding Availability
26
How much money did Netflix lose within minutes of Disney+ announcing that they would be offering a cheaper price?
8 BILLION
27
Who is the largest subscription streaming service?
Netflix
28
Netflix's 3 Key Mutually Reinforcing Resources:
Brand, Scale, Data Asset (Cinematch)
29
What are brands built on?
Customer EXPERIENCE
30
Netflix was in what top rankings?
ACSI and Neilsen
31
Blockbuster and Walmart had _______________________ but that didn't translate to ____________________
brand awareness, industry advantage
32
Netflix remained segment leader, as it had
Early entry and market execution
33
What helped grow Netflix's scale?
58 distribution centers that could deliver overnight to 97% of the US population
34
Netflix had how many DVDs compared to the average 3,000?
125,000
35
The Long Tail
The large number of products unavailable through conventional retail stores
36
2 Factors that support The Long Tail
Selection attracts, Internet offers large inventory efficiencies
37
Example of collaborative filtering for Netflix
Cinematch
38
Collaborative Filtering
Software that monitors trends and applies it to user experiences
39
Recommended titles were ___% of the movies users ended up watching on Netflix
60
40
Cinematch operational advantage
Examines inventory availability and makes recommendations
41
Scale economies can be attained by:
leveraging the cost of an investment to units of production
42
Having a bigger customer base enables firms to have better:
Cost structure, profits, pricing
43
Netflix leverages user data to provide
Better customer experience, build brands
44
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
45
Netflix switching from DVD to Internet caused stocks to drop from
$304 to $50
46
Digital Products have what type of costs?
Marginal Costs
47
First Sale Doctrine
a firm can distribute physical copies of legally acquired copyright-protected products
48
First Sale Doctrine allows firms to
lend products without paying royalties
49
__ firms make ___% of US media
6; 90%
50
Title availability is hindered by:
Windowing
51
Windowing
Content is available to a given distribution channel for a specified time window
52
Content providers are the sole source for
Unique Titles
53
The media industry is an
Oligopoly
54
Since Netflix is a streaming service, they must pay consistently for:
A streaming license
55
Netflix costs of acquiring content
increased
43x the amount it had spent the 5 years prior
56
Offering 'Originals' is what type of integration?
Vertical
57
Netflix offers more programming than
Pay Channels
58
Netflix's user data is used to:
Recommend, Improve design, Leverage costs, Make creative decisions, Audience Promos
59
Why is Netflix streaming on more devices than competitors?
They're making their tech available to hardware firms
60
2 big issues with international expansion
Licensing costs, Legal requirements
61
Threats Netflix faces from ISPs
Bandwidth caps, Quality charging
62
Netflix runs on
Amazon's Cloud servers
63
Netflix handles ___________, Amazon handles _____________
Software; Hardware
64
What type of software does Netflix have?
Open Source
65
Microservices Architecture
App split into little parts that have their own APIs to control
66
API stands for
Application Programming Interface
67
Codec
Technology used in media compression
68
Disruptive technologies create
Market shocks and growth
69
7 Companies that dont require a college degree
IBM, Accenture, OKTA, Bank of America, DELL, Google, Delta
70
Do managers typically respond to threats of disruptive tech?
NO
71
Disruptive Innovation Goals
Challenge and Create
72
Sustaining Innovation Goals
Improve and Build
73
Value Network
Internal/External Connections an organization interacts with
74
Does technology alone create disruption?
NO, must also have strong business model
75
2 Threatening Characteristics of Disruptive Tech
Are not valued, Invades established markets
76
What shift brought about disruptive technologies?
Shift from analog to digital
77
Techniques used to better recognize disruptive technologies
External convos w pioneers, Internal convos with engineers
78
What encourages new market and technology development?
Having innovation separated from core businesses
79
When did Kodak go bankrupt?
2002
80
(Disruptive Tech) Big Firms should do these things
Invest in startups and internal efforts
81
“Creosote Bush” Effect
Prioritizing the work of good engineers on immediate work, not future-plannings
82
Piloting a firm through disruptive innovation is
extremely difficult
83
When a firm undergoes disruptive innovation, they may see:
Lower margins and compressed revenues
84
Bitcoin
open source, decentralized payment system
85
Bitcoin operates in a
Peer-to-peer environment without bank or central authority
86
Blockchain Technologies
A distributed and decentralized ledger that records and verifies transactions and ownership.
87
Jobs that will become more automated
Anything that uses processes or simple problem-solving
88
Jobs that will remain dominated by humans
Anything relational or problems that require complex solutions (ex. Crisis Management)
89
Top 4 Barriers to AI Adoption
(MFSC) Maturity, Fear, Starting-Point, Complexity
90
Data
Raw facts and figures that can be turned into info
91
Information
Data to answer a question or support decision-making
92
3 V's of Big Data
Volume, Variety, Velocity
93
Big Data
(CSA) The collection, storage, and analysis of extremely large data to generate insights
94
Business intelligence (BI)
Reporting, data exploration,
and sophisticated data
modeling/analysis
95
Analytics
statistical and quantitative analysis, explanatory and predictive models, and fact-based management to drive decisions and actions
96
The amount of data being created doubles every
2 Years
97
Advantages based on capabilities and data that others can acquire will be
SHORT LIVED
98
Data helps build
Competitive Advantage
99
DBMS is also known as
Database Software
100
Most common database standard
Relational Database Management Systems
101
Most popular standard for relational database systems
SQL
102
RDBS Chain
Data Fields -> Data Records -> Data File -> Database
103
Database
A collection of related tables
104
Table
A list of data, arranged in columns and rows
105
Record
A single instance of whatever the
table keeps track of
106
Field
A column in a database table
107
Primary Key
Field(s) that uniquely identify a record
108
Foreign Key
A field in common between 2 tables
109
Column
Each category of data contained in a
record
110
Managing database servers can be given to
Third Parties like DevOps
111
By using DevOps, the programmer need only
Write the code and the vendor will manage the system, it's security and hardware provisioning
112
Data that is inaccessible is often referred to as being
Siloed
113
Structured Query Language (SQL)
A language used to create and
manipulate databases
114
Threats of Data Aggregators
Identity theft, Incorrect data, Privacy Concerns
115
What type of systems limit data utilization since they were not built to be shared?
Legacy Systems
116
What types of databases were not set up to run reporting AND analysis?
Transactional Databases
117
Large Data Warehouses disadvantages
Costly, Timely, Complex
118
Data Warehouses and Data Marts hold
Transactional data waiting to be reported/analyzed
119
Data Lakes
Storage and access technologies used in Big Data
120
Hadoop
(SEC) open-source tools managing data for storage, extraction, and computation
121
Advantages of systems like Hadoop
(FSCF) Flexible, scalable, cost-effective, fault-tolerant
122
Canned Reports
Regular summaries of information in a predetermined format
123
ad hoc reporting tools
Users control custom reports on an as-needed basis by selecting fields, ranges, summary conditions, and other parameters
124
Dashboards
Display of critical indicators to get key performance metrics
125
online analytical processing (OLAP)
Takes data from relational databases, calculates and summarizes the data, and then stores the data in a data cube
126
Data Cube Location
Width
127
Data Cube Product
Height
128
Data Cube Time
Length
129
Data Cube Cell
Piece
130
Data mining is used to addess issues relating to
Segmentation, Marketing, Targeting and Filtering
131
Over-engineering can lead to
Bad results
132
Will analytics always find a solution?
NO, sometimes they just find patterns
133
A competent business analytics team should possess three critical skills:
Info technology, Stats, Business Knowledge
134
AI can still possess
Unintended bias, discrimination, and violations of privacy
135
What helps make tech more ethical?
Hire ethicists, Code of Ethics, Training, Remedies
136
Pre-reqs for data mining to work
Clean data, Reflect Trends
137
3 Components to a Human-Centered Design Approach
(DVF) Desirability, Viability, Feasibility
138
Design Challenge Pathway
(PERIPT) Plan, Empathize, Reframe, Ideate, Prototype, Test
139
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
