Exam 2: Harnessing Big Data Into Better Decisions

Information that is accurate, valid, and reliable is said to be of high ____________________.

____________________ refers to linking computerized data sources to statistical tools that can search for predictive relationships and trends, allowing for more accurate prediction of consumers' opinions and actions.

Relevant data are facts about things that cannot be changed.

Most companies use a private data network that uses Internet standards and technology, but only allows those individuals whom the organization deems as appropriate participants to access data.This is an example of a(n)____.

Information that is provided when a marketing manager needs it to make an important decision is said to be ____________________.

The process that allows important day-to-day operational data to be stored and organized for simplified access is called ____.

When a marketing manager has sufficient information to make a good decision, the information is said to be ____________________.

Data, information, and intelligence all have the potential to create value to a firm through better decision making.

Which part of the decision support system addresses exchanges between the firm and its customers?

Which characteristic is LEAST important in evaluating the value of information?

A data warehouse is the multitiered computer storehouse of current and historical data.

____________ are small data files that record a user's Web usage history.

Scanner data refers to the accumulated records resulting from point of sale data recordings.

Numerical, text, voice, and image data that enter a decision support system are known as ____________________.

The DIALOG catalog is a useful source for finding lists of university libraries.

Market dynamism represents the rate of change in environmental and competitive factors.

Wal-Mart transmits information electronically each day to Wrangler jeans about unit sales of this product in its retail outlets so that Wrangler can replenish Wal-Mart's inventory on an as-needed basis.What term describes this function?

Retailers use ______ technology both to offer customers uniquely tailored promotions and to keep track of customers' shopping behavior through a small microchip used to communicate with data systems.

A computer-based system that helps marketing managers to solve problems through interaction with databases is known as a(n)____________________.

Which source of input data is represented when a company conducts marketing research to identify the characteristics of its customers?