Question 1

_____ is a language used to create and manipulate databases.

Accepted Answer

Structured...

Question 2

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 storesF) C) and D)
G) A) and D)

Question 3

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 4

Data becomes _____ when it is presented in a context so that it can answer a question or support decision making.

Accepted Answer

A)   knowledge
B)   information
C)   a database
D)   wisdom
E)   a relational languageF) A) and B)
G) C) and D)

Question 5

The three Vs of "Big Data" are _____,_____, and ______; characteristics that distinguish it from conventional data analysis problems and require a new breed of technology.

Accepted Answer

volume, ve...

Question 6

Describe how L.L. Bean's Big Data efforts have changed and improved firm interactions with customers.

Accepted Answer

Automated tools were also developed to l...

Question 7

Wal-Mart supplements its huge data assets with additional data provided by information brokers like Information Resources and ACNielsen.

Accepted Answer

A) True 
 B)False

Question 8

A data cube refers to a:

Accepted Answer

A)   secure, cloud-based off-site location used for data storage, analysis, and reporting.
B)   heads-up display of critical indicators that allow managers to get a graphical glance at key performance metrics.
C)   special database used to store data in OLAP reporting.
D)   firm that collects data with the intention of reselling it to others.
E)   combination of fields used to uniquely identify a record, and to relate separate tables in a database.F) A) and D)
G) B) and E)

Question 9

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

Accepted Answer

EchoNest s...

Question 10

The term ____________ refers to a technology that sends messages to smartphones and other devices using a low-energy Bluetooth signal.

Accepted Answer

The answer of The term ____________ refers to a technology...

Question 11

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

Accepted Answer

Data mining is the process of using comp...

Question 12

_____ refers to software for creating, maintaining, and manipulating data.

Accepted Answer

A)   Extranet
B)   ROM
C)   RAM
D)   DBMS
E)   Internet 2F) A) and C)
G) A) and E)

Question 13

Data warehouses are composed entirely of proprietary corporate data, while data marts take advantage of data purchased from third-party firms.

Accepted Answer

A) True 
 B)False

Question 14

Systems that can absorb any type of data, structured or not, from any type of source are often called ____________.

Accepted Answer

The answer of Systems that can absorb any type of...

Question 15

Knowledge is defined as:

Accepted Answer

A)   raw facts and figures.
B)   the data presented in a context so that it can answer a question or support decision making.
C)   the insight derived from experience and expertise.
D)   a listing of primary data.
E)   the process of breaking a complex topic into smaller parts.F) C) and E)
G) A) and B)

Question 16

Skittish and untrusting managers should realize that the first findings of analytics always reveal an optimal course of action.

Accepted Answer

A) True 
 B)False

Question 17

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

Accepted Answer

A) True 
 B)False

Question 18

Firms that collect and resell data are known as:

Accepted Answer

A)   data barons.
B)   data mongers.
C)   knowledge consultancies.
D)   data miners.
E)   data aggregators.F) None of the above
G) A) and C)

Question 19

While spreadsheets are popular tools, they cannot effectively be used for "what-if" analysis.

Accepted Answer

A) True 
 B)False

Question 20

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

Accepted Answer

A)   The data must be collected from proprietary sources and not from data aggregators.
B)   The organization must leverage standard relational databases as opposed to inferior hierarchical and analytical databases.
C)   The events in the data should reflect current and future trends.
D)   The data mining software must necessarily incorporate ad hoc reporting tools and dashboards.
E)   The data should have passed the Diehard suite of stringent tests for randomness.F) C) and D)
G) B) and E)

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

Systems that can absorb any type of data, structured or not, from any type of source are often called ____________.

Correct AnswerverifiedShow Answer

A data cube refers to a:

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Skittish and untrusting managers should realize that the first findings of analytics always reveal an optimal course of action.

Correct AnswerverifiedShow Answer

While spreadsheets are popular tools, they cannot effectively be used for "what-if" analysis.

Correct AnswerverifiedShow Answer

Knowledge is defined as:

Correct AnswerverifiedShow Answer

Describe how L.L. Bean's Big Data efforts have changed and improved firm interactions with customers.

Correct AnswerverifiedAutomated tools were also developed to l...View AnswerShow Answer

Data becomes _____ when it is presented in a context so that it can answer a question or support decision making.

Correct AnswerverifiedShow Answer

The term ____________ refers to a technology that sends messages to smartphones and other devices using a low-energy Bluetooth signal.

Correct AnswerverifiedShow Answer

Firms that collect and resell data are known as:

Correct AnswerverifiedShow Answer

Data warehouses are composed entirely of proprietary corporate data, while data marts take advantage of data purchased from third-party firms.

Correct AnswerverifiedShow Answer

_____ is a language used to create and manipulate databases.

Correct AnswerverifiedStructured...View AnswerShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedEchoNest s...View AnswerShow Answer

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

Correct AnswerverifiedData mining is the process of using comp...View AnswerShow Answer

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.

Correct AnswerverifiedShow Answer

_____ refers to software for creating, maintaining, and manipulating data.

Correct AnswerverifiedShow Answer

The three Vs of "Big Data" are _____,_____, and ______; characteristics that distinguish it from conventional data analysis problems and require a new breed of technology.

Correct Answerverifiedvolume, ve...View AnswerShow Answer

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

Correct AnswerverifiedShow Answer

Wal-Mart supplements its huge data assets with additional data provided by information brokers like Information Resources and ACNielsen.

Correct AnswerverifiedShow Answer

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Automated tools were also developed to l...
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Structured...
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EchoNest s...
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Data mining is the process of using comp...
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The three Vs of "Big Data" are ___,_, and ____; characteristics that distinguish it from conventional data analysis problems and require a new breed of technology.

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volume, ve...
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Correct Answer
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Correct Answer
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