Quiz 3
What are business analytics?
A) The scientific process of transforming data into insight for making better decisions.
B) Techniques that describe past performance and history.
C) Techniques that extract information from data and use it to predict future trends and identify behavioral patterns.
D) Techniques that create models indicating the best decision to make or course of action to take.
A) The scientific process of transforming data into insight for making better decisions.
Who is responsible for ensuring the ethical and legal use of information within a company?
A) Chief technology officer (CTO).
B) Chief security officer (CSO).
C) Chief privacy officer (CPO).
D) Chief knowledge officer (CKO).
C) Chief privacy officer (CPO).
Which of the following would not be considered part of the accuracy characteristic of high-quality information?
A) Is the name spelled correctly?
B) Is there an incorrect value in the information?
C) Is the dollar amount recorded properly?
D) Is aggregate information in agreement with detailed information?
D) Is aggregate information in agreement with detailed information?
⊚ true
⊚ false
⊚ true
Information integrity issues occur when the same data element has different values.
⊚ true
⊚ false
⊚ false
What is a collection of large complex data sets that cannot be analyzed using traditional database methods and tools?
A) Knowledge
B) Big data
C) Snapshot
D) Internet of things
B) Big data
What evaluates industry attractiveness?
A) SWOT Analysis
B) The Five Forces Model
C) Value Chain Analysis
D) Three Generic Strategies
B) The Five Forces Model
Which of the following are examples of transactional information?
A) Airline tickets, sales receipts, and packing slips
B) Trends and sales statistics
C) Product sales results, grocery receipts, and growth projections
D) Airline tickets and sales growth spreadsheets
A) Airline tickets, sales receipts, and packing slips
How can a company minimize the cost of shipping products from plants to customers?
A) Descriptive Analytics
B) Predictive Analytics
C) Prescriptive Analytics
C) Prescriptive Analytics
With the Five Forces Model, companies should watch the forces in the market. If the forces are weak, competition generally increases, and if the forces are strong, competition typically decreases.
⊚ true
⊚ false
⊚ false
When a company is the first to market with a competitive advantage, it gains a particular benefit known as competitive intelligence.
⊚ true
⊚ false
⊚ false
Which of the following is not a primary trait of information?
A) Governance
B) Type
C) Timeliness
D) Quantity
D) Quantity
Which of the following is not a typical Customer Relationship Management (CRM) metric?
A) Sales metrics
B) Service metrics
C) Marketing metrics
D) Inventory metrics
D) Inventory metrics
What is the science of fact-based decision-making?
All of the following are common tools used in industry to analyze and develop competitive advantages, except _________.
A) Five Forces Model
B) Three Generic Strategies
C) Competitive analysis model
D) Value chain analysis
E) None of the above
C) Competitive analysis model