Exam 2: Harnessing Big Data Into Better Decisions

One way to describe marketing research is to categorize it based on the four possible functions that it serves in business: foundational, testing, issues, and validation.

Environmental scanning entails all information gathering designed to detect changes in the external operating environment of the firm.

UPC refers to bar-coded information containing product information that can be read by optical scanners.

Data quality reflects how accurately the gathered data actually match reality.

Big data is large quantities of data taken from a single source.

Define predictive analytics and discuss a marketing researcher's job in predictive analytics.

Data collected in an open data partnership is ____.

An example of behavioral tracking is ____.

John is using analytical tools to measure relevant data in order to better understand his company's marketing performance.This is called ________.

When researchers agree to make the information they collect available to consumers from whom they gather the information, this is called _____________________

Which is a characteristic of valuable data?

Laurie finds the perfect sweater on Talbot's Web site during its season's clearance sale, but is unable to purchase it in her size.The following year, Talbot's sends Laurie an email notifying her of a similar sweater in the same style and color.Talbot's has linked computerized data sources to statistical tools to search for relationships that will produce more effective marketing communications, which is an example of ____.

A party that maintains Web sites on the World Wide Web is called a content provider.

CompuStat, which publishes financial data, such as income statements and balance sheets, is an example of which type of database?

A(n)____________________ occurs when one company's computer system is integrated with another company's computer system.

Which term describes a subset of data and information that actually has some explanatory power to enable effective decisions to be made?

The goal of a CRM system is to describe customer relationships so that managers can access information themselves.

Amazon.com recommends books for purchase when a customer who has ordered books from Amazon previously returns to the site.This is an example of ____.

Timeliness means that the data are not more than a few years old.

Procter & Gamble regularly monitors trends and information posted about their products and brands by consumers on several Web sites.Which source of data input does this represent?