Exam 2 Study questions 2

Question 1

Secondary Data is

Answer 1

information not gathered fro the immediate study but previously gathered for some other purpose. Typically gives good background info.

Question 2

Primary Data is

Answer 2

Data that you collect for the purposes of the investigation at hand

Question 3

Advantages of secondary data

Answer 3

-possible to save lots of time and money

• help to better understand the problem being investigated
• suggest imporved methods or further data that should be collected
• Provide comparative data that can help interpret primary data if such data are eventually collected.

Question 4

Disadvantages of secondary data

Answer 4

• they dont often fit the current problem very well.

- they are sometimes no accurate.

Question 5

decision support systems

Answer 5

a combination of database, analytical models, and dialog system that allows managers to develop and acess customized information

Question 6

A good DSS has two key outputs

Answer 6

• standardized up-to-the-minute reports needed for day-to-day operations and
• custom reports that can easily be produced by managers when needed.