Exam 15: The Data Asset: Databases, Business Intelligence, Analytics, Big Data, and Competitive Advantage

In database systems, a _____ defines the data that a table can hold.

Enterprise software tends to be less integrated and standardized than the prior era of proprietary systems that many firms developed themselves.

_____ systems are often used to empower employees to track and record data at nearly every point of customer contact.

Logistics is the term that describes the extensive use of data, statistical and quantitative analysis, explanatory and predictive models, and fact-based management to drive decisions and actions.

In many organizations, the majority of available data is not exploited to advantage.

_____ refer to older information systems that are often incompatible with other systems, technologies, and ways of conducting business.

Firms that base decisions on hunches are said to be gambling, not managing.

_____ are model building techniques where computers examine many potential solutions to a problem, iteratively modifying various mathematical models, and comparing the mutated models to search for a best alternative.

_____ refer to databases focused on addressing the concerns of a specific problem or business unit.

How are increasingly standardized data, access to third-party datasets, cheap, fast computing, and easier-to-use software collectively enabling a new age of decision making?

Most transactional databases are not set up to be simultaneously accessed for reporting and analysis. As a consequence:

Describe "database," "DBMS," and "SQL."

In database systems, a _____ refers to a list of data.

It's believed that medical errors are the _____ leading cause of death in the United States.

What are data warehouses and data marts? What is their significance in terms of data organization?

_____ is the general term used to describe the massive amount of data available to today's managers.

OLAP technology is primarily used for transaction processing.

_____ put(s) users in control so that they can create custom reports on an as-needed basis by selecting fields, ranges, summary conditions, and other parameters.

Advantages based on capabilities and data that others can acquire are long-lived.

Conventional database technologies often choke when trying to sift through the massive amounts of data collected by many of today's firms, leading to the rise of Hadoop and other "Big Data" technologies.