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

It can be said; many organizations are data rich but information abundant.

In database systems, a column is also known as a key.

Random occurrences in data mining results can be detected by dividing the data and building a model with one portion and using another portion to verify the results.

Data mining is leveraged by some firms to determine which products customers buy together, and how an organization can use this information to cross-sell more products or services. This area of application of data mining is referred to as:

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

Knowledge is defined as:

A _____ is a system that provides rewards and usage incentives, typically in exchange for a method that provides a more detailed tracking and recording of consumer activity.

The San Francisco Giants leverage business analytics to price game tickets. What factors are considered? What are the risks associated with allowing prices to fluctuate?

Data are raw facts that must be turned into information in order to be useful and valuable.

In some instances, firms supplement operational data with additional input from _____and_________.

An integrated shopping experience and unified customer view across channels is sometimes referred to as _______________.

Why do many organizations have data that cannot be converted to actionable information? What are the hurdles faced by firms that attempt to query transactional databases?

_____ is a class of computer software that seeks to reproduce or mimic human thought, decision making, or brain functions.

_____ is a language used to create and manipulate databases.

What are the issues to be addressed in order to design, develop, deploy, and maintain data warehouses and data marts?

_____ 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.

Walmart uses_____ technology to sift through massive amounts of social media data.

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

What is data mining? What are the key areas where businesses are leveraging data mining?

Which of the following conditions is essential for data mining to work?