Information Systems

Question 1

4 Vs of Big Data

Answer 1

Volume
Velocity
Variety
Veracity

Question 2

Cyber security threats

Answer 2

Human threats- hackers may be able to access the firm’s internal network

Fraud- theft of funds

Deliberate sabotage - commercial espionage or malicious damage

Viruses - spread through the network to all computers

Denial of service - attempt by hackers to prevent legitimate use of service

Question 3

Benefits of data analytics for competitive advantage

Answer 3

Extract meaning from the data held (trends, patterns)
Combine data captured with external sources (e.g social media)
Better segment demand

Increased revenue from customers
Reduced costs through better inventory control
Improved customer service
Improved decision making (forecasts, planning)

Question 4

Cyber security risk management

Answer 4

Personnel security
Physical and environmental security
Systems access control
Systems development and maintenance

Business continuity plan:

• back up data
• interim premises and staff
• management of PR