Customer Relationship Management (CRM)
Why do CRM platforms leverage social media. For eg, Tiktok, YouTube, Facebook and the like.
Organizations use a variety of platforms to reach their target audience.
Define a LAN and a WAN and how they differ.
A LAN connects devices in a limited area, usually less than half a mile, using equipment the organization owns.
A WAN connects devices across multiple geographic locations like cities or countries and relies on leased lines from telecom carriers.
What is a DBMS and how is it different from a database?
A database is a collection of tables, relationships, and metadata.
A DBMS is the software program that organizes and administers that database.
Most companies use DBMS from vendors like Oracle, Microsoft, or IBM.
What are the three types of data analytics?
Descriptive (what happened?),
Predictive (what will happen?) uses data mining, machine learning, modeling, and
Prescriptive (what should we do?) is the most advanced form, predicts what, when, and why.
How does OLAP inform customer interactions?
For eg, Amazon uses OLAP when purchasing a book. It gives you other readings that you can purchase. You might like this book because of xyz.
What is blockchain and how does its security work?
Blockchain stores transaction data in blocks linked in a chain.
Each block has a hash which is a unique identifier.
The previous block's hash links them together so no block can be changed or inserted.
Each new block strengthens the verification of the one before it.
Why organize data into tables?
You can capture data based on specific groupings, and connect them through relationships.
What do SELECT, FROM, and WHERE do in SQL?
SELECT chooses the fields to return.
FROM chooses the tables where those fields are located.
WHERE filters for specific information.
What is the difference between customer equity, customer profitability, and CLV?
Customer equity is future lifetime revenue minus acquisition and retention costs.
Customer profitability is the profit made from a customer over a specific time period.
CLV is the total amount a customer will spend over their entire lifetime.
What are SaaS, PaaS, and IaaS?
SaaS is Software as a Service where you access software through a browser like Google Apps or Microsoft 365.
PaaS is Platform as a Service which gives developers hardware and software tools for building apps through the internet.
IaaS is Infrastructure as a Service where a cloud vendor provides processing, storage, and computing resources like Microsoft Azure.
What is a data mart vs a data warehouse?
A data warehouse is a big repository storing data from across the whole organization. A data mart is a subsection of that warehouse built for a specific department. There are three types of data marts: dependent which pulls from an existing warehouse, independent which is standalone, and hybrid which combines warehouse data with other sources.
What is the benefit of data visualization?
They tell a complex story quickly.
What is share of customer and what does high vs low mean?
Also called share of wallet. It's about getting as much business as possible from fewer customers.
High means they spend more with you than competitors.
Low means they're spending more elsewhere.
The idea is retaining customers costs less than acquiring new ones.
Name 2 benefits and 2 limitations of cloud computing.
Benefits are flexibility, cost savings, collaboration, and disaster recovery.
Limitations are dependence on internet connectivity, security concerns, limited control over infrastructure, and compliance issues.
What is OLAP and how is it used in business?
OLAP stands for Online Analytical Processing. It's the technology behind many BI applications used for report creation, forecasting, budgeting, planning, and what-if analysis.
Businesses use it for performance management, financial reporting, simulation models, and data warehouse reporting.
Why do we anonymize data and what is PII?
Data anonymization protects private or sensitive info by eliminating or encrypting it.
PII stands for Personally Identifiable Information and includes things like names, social security numbers, medical records, emails, account numbers, phone numbers, and IP addresses.
Organizations have a legal and ethical responsibility to protect it.
Name 3 laws that protect consumer data and describe each.
Gramm-Leach-Bliley Act governs personal info collected by financial institutions.
Fair Credit Reporting Act regulates gathering and use of credit reporting info.
CCPA mandates disclosure about data collection and gives people the right to access, correct, and delete their personal info.
What makes cryptocurrencies de-centralized?
There is no intermediary such as a bank or a financial institution.
The transactions are recorded on a digital public ledger.
How does a DBMS solve redundancy, inconsistency, and security?
For redundancy it centralizes storage so data is only stored once.
For inconsistency changes only need to be made in one place so there are no conflicting records.
For security it creates access constraints so only authorized users get in, with different access levels for different users.
What is SQL, why do businesses use it, and what are its pros and cons?
Language for storing, managing, and processing data in relational databases.
Pros: in demand, reliable, no coding prereq, fast, handles large volumes.
Cons: some database systems that use SQL are costly, databases can be complex to set up and manage, can't process real-time data changes, can't work with unstructured data.