Question 1

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.

Accepted Answer

A) True 
 B)False

Question 2

_____ is the term used to describe some form of business exchange.

Accepted Answer

The answer of _____ is the term used to describe...

Question 3

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:

Accepted Answer

A)  market basket analysis. 
B)  expert systems. 
C)  customer churn. 
D)  customer segmentation. 
E)  vertical integration.

Question 4

A(n) _____ refers to a heads-up display of critical indicators that allow managers to get a graphical glance at key performance metrics.

Accepted Answer

A)  interstitial 
B)  embassy 
C)  canned report 
D)  prediction interface 
E)  dashboard

Question 5

A(n) _____ is an AI system that examines data and hunts down and exposes patterns, in order to build models to exploit findings.

Accepted Answer

A)  Hadoop 
B)  canned report 
C)  data aggregator 
D)  neural network 
E)  e-discovery

Question 6

OLAP technology is primarily used for transaction processing.

Accepted Answer

A) True 
 B)False

Question 7

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

Accepted Answer

The answer of _____ is the general term used to...

Question 8

The acronym_____ refers to a technology that is often used to tag objects and inventory items so that they can 'announce their presence' as they make their way along an organization's value chain.

Accepted Answer

The answer of The acronym_____ refers to a technology that...

Question 9

Having too much inventory or insufficient inventory is known as a retailer's "twin nightmares."

Accepted Answer

A) True 
 B)False

Question 10

What is Wal-Mart's motivation for sharing data with its supply partners?

Accepted Answer

A)  Creating switching costs for suppliers 
B)  Lowering prices of products 
C)  Achieving maturity in the American market 
D)  Countering the accusations of union activists 
E)  Deflecting criticism for ruining local mom-and-pop stores

Question 11

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

Accepted Answer

A) True 
 B)False

Question 12

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

Accepted Answer

The answer of What are the issues to be addressed...

Question 13

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.

Accepted Answer

A) True 
 B)False

Question 14

Data can potentially be used as a strategic asset, capable of yielding sustainable competitive advantage. Which of the items below is not a characteristic of a potentially strategic asset?

Accepted Answer

A)  value 
B)  rarity 
C)  imperfect imitability 
D)  lead time 
E)  non-substitutability

Question 15

How is The EchoNest (part of Spotify) leveraging big data for a better music experience?

Accepted Answer

The answer of How is The EchoNest (part of Spotify)...

Question 16

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?

Accepted Answer

The answer of The San Francisco Giants leverage business analytics...

Question 17

_____ is the term used to describe raw facts and figures.

Accepted Answer

A)  information 
B)  knowledge 
C)  analytics 
D)  data 
E)  intelligence

Question 18

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

Accepted Answer

The answer of What is data mining? What are the...

Question 19

Inventory turnover ratio is:

Accepted Answer

A)  the ratio of a company's annual sales to its inventory. 
B)  the ratio of a company's variable cost to its inventory. 
C)  the ratio of a company's fixed cost to its inventory. 
D)  the ratio of a company's annual cost to its inventory. 
E)  the ratio of a company's fixed assets to its inventory.

Question 20

_____ is by far the most popular language for creating and manipulating databases.

Accepted Answer

A)  XML 
B)  HTML 
C)  PHP 
D)  Java 
E)  SQL

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

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.

_____ is the term used to describe some form of business exchange.

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:

A(n) _____ refers to a heads-up display of critical indicators that allow managers to get a graphical glance at key performance metrics.

A(n) _____ is an AI system that examines data and hunts down and exposes patterns, in order to build models to exploit findings.

OLAP technology is primarily used for transaction processing.

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

The acronym_____ refers to a technology that is often used to tag objects and inventory items so that they can 'announce their presence' as they make their way along an organization's value chain.

Having too much inventory or insufficient inventory is known as a retailer's "twin nightmares."

What is Wal-Mart's motivation for sharing data with its supply partners?

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

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

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.

Data can potentially be used as a strategic asset, capable of yielding sustainable competitive advantage. Which of the items below is not a characteristic of a potentially strategic asset?

How is The EchoNest (part of Spotify) leveraging big data for a better music experience?

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?

_____ is the term used to describe raw facts and figures.

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

Inventory turnover ratio is:

_____ is by far the most popular language for creating and manipulating databases.