Question 1

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

Accepted Answer

Transactional databases are primarily designed for operations such as insert, update, delete, or retrieve data items; they are not inherently hindered in turning data into usable information for reporting and analysis. However, for complex reporting and analysis, data is often moved to specialized systems (like data warehouses) that are optimized for these tasks, but this does not mean transactional databases hinder the process.

Question 2

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

Accepted Answer

Schema-less systems, also known as NoSQL databases, are designed to store, manage, and analyze data without requiring a predefined schema, allowing them to handle both structured and unstructured data from various sources.

Question 3

In data warehousing projects, it is not uncommon for spending on consulting and services to cost five times or more than the cost of the technology itself.

Accepted Answer

In data warehousing projects, the complexity of design, implementation, and maintenance often requires specialized knowledge and skills, leading to high costs for consulting and services that can significantly exceed the cost of the technology hardware and software.

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

The open-source project known as ____________ was created to analyze massive amounts of raw information better than traditional, highly structured databases.

Accepted Answer

The answer of The open-source project known as ____________ was...

Question 6

_____ refer to older information systems that are often incompatible with other systems, technologies, and ways of conducting business.
A) Data aggregator systems
B) Loyalty card systems
C) Legacy systems
D) Transaction systems
E) Mnemonic systems

Accepted Answer

Legacy systems are older information systems that may not easily integrate with newer systems, technologies, or business processes, making them incompatible with modern requirements.

Question 7

_____ systems are often used to empower employees to track and record data at nearly every point of customer contact.

Accepted Answer

The answer of _____ systems are often used to empower...

Question 8

Briefly describe the different sources of enterprise data for firms.

Accepted Answer

The answer of Briefly describe the different sources of enterprise...

Question 9

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

Accepted Answer

Data warehouses can contain a mix of proprietary corporate data and data acquired from third-party sources, while data marts are subsets of data warehouses tailored to the specific needs of a department or function, not necessarily based on the data's origin.

Question 10

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

Accepted Answer

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

Question 11

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

The answer of The three Vs of "Big Data" are...

Question 12

In some instances, firms supplement operational data with additional input from _____and_________.

Accepted Answer

The answer of In some instances, firms supplement operational data...

Question 13

Why do many organizations have data that cannot be converted to actionable information? What are the hurdles faced by firms that attempt to query transactional databases?

Accepted Answer

The answer of Why do many organizations have data that...

Question 14

It can be said many organizations are data rich but information abundant.

Accepted Answer

Many organizations are considered data rich but information poor, meaning they have a lot of data but struggle to extract meaningful information from it.

Question 15

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

Conventional database technologies, designed for structured data and not optimized for the volume, variety, and velocity of today's data, often struggle with massive datasets. This has led to the adoption of Hadoop and similar Big Data technologies, which are better suited to handle and process large-scale, complex datasets efficiently.

Question 16

Most transactional databases are not set up to be simultaneously accessed for reporting and analysis. As a consequence:
A) navigational databases are being preferred over transactional databases.
B) data is not efficiently transformed into information.
C) firms prefer to outsource data mining operations to third-party firms.
D) analysts must also become transactional specialists.
E) most firms incur additional expenditure to effectively record transactions.

Accepted Answer

Transactional databases are primarily designed for operations such as insert, update, and delete. These operations support the day-to-day transactions of an organization. When it comes to reporting and analysis, these databases may not be optimized for such tasks, leading to inefficiencies in transforming data into actionable information. This is because the structure and indexing of transactional databases are optimized for transactional integrity and speed, not for complex queries and analysis, which are typically required for reporting and transforming data into information.

Question 17

Airbnb's "____________" feature helps by leveraging the firm's industry-leading dataset, far larger and more comprehensive than rivals, and constantly updated over time, to suggest the perfect rate.

Accepted Answer

The answer of Airbnb's "____________" feature helps by leveraging the...

Question 18

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 19

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 20

It's believed that medical errors are the _____ leading cause of death in the United States.

Accepted Answer

The answer of It's believed that medical errors are the...

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