FINAL

Question 1

Many firms attempt to enhance their network effects by creating a ______ for the development of third-party products and services that enhance the primary offering.

Answer 1

Platform

Question 2

A term used to refer to data sets that are too large or complex for traditional data processing application software to adequately deal with.

Answer 2

Big Data

Question 3

What factors can help a firm establish network effects?

Answer 3

1- Move Early Strategy 2-Subsadize Adoption 3- Backward Compatability 4- Encourage the development of complementary goods

Question 4

In ________ markets, users gain benefits from interacting with a separate, complementary class of users. This is called _______ exchange benefit.

Answer 4

two-sided; cross-side

Question 5

T or F. When network effects are present, the value of a product or service decreases as the number of users grows.

Answer 5

False

Question 6

When eBay was growing, they offered a listing service free for five months and that helped build a larger base of users. This is an example of:

Answer 6

Subsidizing Adoption

Question 7

In _______ markets, users gain benefits from interacting with a similar category of users. This is called _______ exchange benefits.

Answer 7

One-sided; same-sided

Question 8

T or F. From a strategic perspective, the trend of “cheaper and faster” technology suggests that what is impossible from a cost or performance perspective today may be possible in the future.

Answer 8

True

Question 9

Negative consequences of being a dominant firm in a network market include:

Answer 9

1- Increasing the number of users can lower the value of a product or service correct. 2- The primary target of virus hackers and malicious hackers

Question 10

How can you ensure the Halo Effect does not play into hiring decisions?

Answer 10

1- Do not base decisions on how the candidate is dressed or how they look 2-Use stress interviews 3- Have candidates interact with other employees

Question 11

refers to the portion of the telecommunications network chain that physically reaches the end-user’s premises.

Answer 11

The Last Mile

Question 12

Social media policies revolve around the “three Rs”. What are they?

Answer 12

Representation, Respect, Responsibility

Question 13

Social media provides “The Four M’s” of engagement. What are they?

Answer 13

1- Megaphone to send out messages from the firm 2- Magnet to attract inbound communication 3-Monitoring what’s happening online

Question 14

T or F. Amazon Web Services (AWS) provides on-demand cloud computing platforms to individuals, companies, and governments on a paid subscription basis. The technology allows subscribers to have at their disposal a virtual cluster of computers, available all the time, through the Internet.

Answer 14

True

Question 15

Social Media is used in business to:

Answer 15

1- Build Reputation 2- Attract clients 3- Connect with like-minded business professionals 4- Create a direct line of communication to customers

Question 16

The Internet is filled with PR seekers, the unsatisfiably disgruntled, axe grinders seeking to trap firms, dishonest competitors, and inappropriate groups of mischief makers commonly referred to as:

Answer 16

Trolls

Question 17

T or F. There are no privacy concerns related to social networks

Answer 17

False

Question 18

T or F. Location-based services are increasingly combining geolocated data with social media. Users are always in control of sharing location data, and these services pose no security or privacy issues.

Answer 18

False

Question 19

_____ is a mental shortcut that relies on the most immediate examples that might come to mind evaluating a decision. It operates on the notion that if you can recall it, it must be important.

Answer 19

The Availability Heuristic

Question 20

How can you de-bias the framing effect?

Answer 20

1-Decide how to decide up front 2-Think through how you’re going to make the decision before you go to make the decision 3- Challenge the information you get 4- Do your own analysis

Question 21

______ comes about when we make judgments about the probability of an event under uncertainty

Answer 21

Representative Heuristic

Question 22

T or F. Bob wins the lottery. Since he knows the overall probability of winning the lottery is really low, he does not bother buying another ticket. This is an example of the Base Rate Fallacy.

Answer 22

False

Question 23

Advertisers would not want their ads running alongside content that is offensive, racy, or illegal. This concern is referred to as the:

Answer 23

Content Adjacency Problem

Question 24

_____ is a free Linux-based mobile operating system

Answer 24

Android

Question 25

Facebook’s key resources for competitive advantage are ______ and _______.

Answer 25

network effects; switching costs

Question 26

Perform a search (or query) on Google or another search engine, and the results you will see are referred to by industry professionals as a _________

Answer 26

Organic Search

Question 27

What was the class action suit against Facebook and Cambridge Analytica about?

Answer 27

The unauthorized use of user data

Question 28

Facebook’s ______ allows the firm to further leverage the ________. Developers creating applications create complimentary benefits that have the potential to add value to Facebook beyond what the firm itself provides to its users.

Answer 28

platform; network effect

Question 29

_______ is a type of computer software where the source code is released under a license in which the copyright holder grants users the rights to study, change, and distribute the software to anyone and for any purpose.

Answer 29

Open-source software

Question 30

T or F. Ad ranking and cost-per-click calculations take place as part of an automated auction that occurs every time a user conducts a search. Since rates are based on auctions, top rates reflect what the market is willing to bear.

Answer 30

True

Question 31

Data sourcing pertains to which question?

Answer 31

Can we even get the data we will need? Where can this data be obtained from?

Question 32

Shutting down websites by overwhelming them with a crushing load of seemingly legitimate requests sent simultaneously by thousands of machines is called:

Answer 32

Distributed Denial of Service (DDoS) Attacks

Question 33

_____ refers simply to raw facts and figures. Alone it tells you nothing. The real goal is to turn it into ______ by presenting it in a context where it can answer a question or support decision making.

Answer 33

Data; information

Question 34

What is a customer churn model used for?

Answer 34

Determining which customers are likely to leave, and what tactics can help the firm avoid unwanted defections

Question 35

What is a Database Management System?

Answer 35

A software package designed to define, manipulate, retrieve, and manage data in a database correct

Question 36

What is spyware?

Answer 36

Software that surreptitiously monitors user actions, network traffic, or scans for files.

Question 37

What are Trojans?

Answer 37

Exploits that try to sneak in by masquerading as something they are not. The payload is released when the user is duped into downloading and installing the malware cargo.

Question 38

Data quality pertains to which questions

Answer 38

Can our data be trusted as accurate? Is it clean, complete, and reasonably free of errors?

Question 39

T or F. Since running analytics against transactional data can bog down a system, and since most organizations need to combine and reformat data from multiple sources, firms typically need to create separate data repositories for their reporting and analytics work, which is a kind of staging area from which to turn that data into information.

Answer 39

True

Question 40

What is customer segmentation?

Answer 40

Figuring out which customers are likely to be the most valuable to a firm correct