Question 1

Turning data into useable information is hindered by transactional databases that are set up to be simultaneously accessed for reporting and analysis.

Accepted Answer

A) True 
 B)False

Question 2

Conventional reports look more like a spreadsheet, with the various dimensions of analysis in rows and columns, with summary values at the intersection.

Accepted Answer

A) True 
 B)False

Question 3

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

Accepted Answer

The answer of What are data warehouses and data marts?...

Question 4

Systems that record a transaction (some form of business-related exchange), such as a cash register sale, ATM withdrawal, or product return are referred to as _____.

Accepted Answer

The answer of Systems that record a transaction (some form...

Question 5

A study by Gartner Research claims that the amount of data on corporate hard drives doubles every eighteen months.

Accepted Answer

A) True 
 B)False

Question 6

_____ refers to the ratio of a company's annual sales to its inventory.

Accepted Answer

The answer of _____ refers to the ratio of a...

Question 7

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

Accepted Answer

A) True 
 B)False

Question 8

Firms that collect and resell data are known as:

Accepted Answer

A)  data harvesters. 
B)  data mongers. 
C)  knowledge consultancies. 
D)  data miners. 
E)  data aggregators.

Question 9

Which of the following is often considered a defensible source of competitive advantage?

Accepted Answer

A)  Data 
B)  Technology 
C)  Infrastructure 
D)  Market capital 
E)  Profits

Question 10

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.

Accepted Answer

A)  sugging report 
B)  canned report 
C)  dashboard 
D)  legacy system 
E)  loyalty card

Question 11

Data miners should realize that first findings of analytics always reveal an optimal course of action.

Accepted Answer

A) True 
 B)False

Question 12

_____ is a method of querying and reporting that takes data from standard relational databases, calculates and summarizes the data, and then stores the data in a special database called a data cube.

Accepted Answer

A)  Ad hoc reporting 
B)  E-discovery 
C)  Data aggregation 
D)  Online analytical processing 
E)  Data adjacency

Question 13

Data obtained from outside sources, when combined with a firm's internal data assets, can give the firm a competitive edge.

Accepted Answer

A) True 
 B)False

Question 14

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 15

A publicly held company is said to be _____ if its outstanding shares are purchased by an individual or by a small group of individuals who wish to obtain complete ownership and control.

Accepted Answer

The answer of A publicly held company is said to...

Question 16

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

Accepted Answer

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

Question 17

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

Question 18

Why do firms need to create separate data repositories for their reporting and analytics work?

Accepted Answer

A)  Most firms store their data assets offsite to insure themselves against the possibility of data damage through natural disasters. 
B)  Maintaining huge databases in-house can be a cost-sink for most firms. 
C)  Most organizations need to differentiate data derived in-house and from data aggregators. 
D)  Running analytics against transactional data can bog down a system. 
E)  Most firms derive their data in a combined and reformatted form.

Question 19

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 20

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

Accepted Answer

A)  Data marts 
B)  Dashboards 
C)  Data miners 
D)  Data aggregators 
E)  Data analytics

Exam 12: The Data Asset: Databases, Business Intelligence, Big Data, and Competitive Advantage

Turning data into useable information is hindered by transactional databases that are set up to be simultaneously accessed for reporting and analysis.

Conventional reports look more like a spreadsheet, with the various dimensions of analysis in rows and columns, with summary values at the intersection.

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

Systems that record a transaction (some form of business-related exchange), such as a cash register sale, ATM withdrawal, or product return are referred to as _____.

A study by Gartner Research claims that the amount of data on corporate hard drives doubles every eighteen months.

_____ refers to the ratio of a company's annual sales to its inventory.

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

Firms that collect and resell data are known as:

Which of the following is often considered a defensible source of competitive advantage?

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.

Data miners should realize that first findings of analytics always reveal an optimal course of action.

_____ is a method of querying and reporting that takes data from standard relational databases, calculates and summarizes the data, and then stores the data in a special database called a data cube.

Data obtained from outside sources, when combined with a firm's internal data assets, can give the firm a competitive edge.

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

A publicly held company is said to be _____ if its outstanding shares are purchased by an individual or by a small group of individuals who wish to obtain complete ownership and control.

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

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

Why do firms need to create separate data repositories for their reporting and analytics work?

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.

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