Question 1

The purpose of a decision support system is to store data and transform data into information that is easily accessible to marketing managers.

Accepted Answer

The purpose of a decision support system is to provide information that can help managers make better decisions. It does this by collecting and storing data, analyzing it, and presenting it in a way that is easy to digest and understand. This information can be used to identify trends, spot opportunities, and make more informed decisions about marketing strategies and tactics.

Question 2

Scanner data is collected when consumers check out at stores.

Accepted Answer

Scanner data is collected at checkout when consumers purchase items from stores. This data includes information such as the product name, price, and quantity purchased, which can be used by retailers to track sales trends and make business decisions.

Question 3

Timely data are the most current data.

Accepted Answer

While the most current data are most likely the most timely and relevant,timely data can be older as well.It just can't be so old that they are not relevant.

Question 4

One way to describe marketing research is to categorize it based on the four possible functions it serves in business: foundational,testing,issues,and validation.

Accepted Answer

One way to describe marketing research is to categorize it based on the four possible functions it serves in business: foundational,testing,issues,and performance.

Question 5

Sensing systems can be used to monitor traffic flow through a mall parking lot.

Accepted Answer

Sensing systems, such as cameras or sensors, can be installed in a mall parking lot to monitor the flow of traffic and help with parking management.

Question 6

When the price of an airline ticket increases as more seats are sold,this is an example of dynamic pricing.

Accepted Answer

Dynamic pricing refers to the practice of adjusting prices based on various factors such as demand, supply, and competition. In the case of airlines, as the number of seats available for a particular flight decreases, the demand for the remaining seats increases, and the airline may increase the ticket price accordingly. Therefore, when the price of an airline ticket increases as more seats are sold, it is an example of dynamic pricing.

Question 7

A data warehouse is the multitiered computer storehouse of current and historical data.

Accepted Answer

A data warehouse is a computer storehouse that contains current and historical data organized in a multitiered structure designed to support business analysis and decision-making activities.

Question 8

Input data can come from internal sources of the organization,but not from external sources.

Accepted Answer

Input data come from both internal and external sources.

Question 9

Electronic data interchange (EDI)refers to linking computerized data sources to statistical tools that can search for predictive relationships and trends which allow more accurate predictions of consumers' opinions and actions.

Accepted Answer

This describes predictive analytics.EDI systems integrate one company's computer system directly with another company's system.

Question 10

Data are a subset of market intelligence.

Accepted Answer

Market intelligence is the subset of data and information.There is more data then information,and more information than intelligence.

Question 11

Researchers use tracking analytics by taking information from consumers' actual archived behavior along with preference data to model sales levels that can be achieved.

Accepted Answer

Researchers use predictive analytics to perform this task.

Question 12

Types of databases include statistical databases,financial databases,and video databases.

Accepted Answer

This statement is true. There are many types of databases, including those listed such as statistical, financial, and video databases. Other examples include relational databases, document databases, and graph databases.

Question 13

Proprietary marketing research is available to anyone via the Internet.

Accepted Answer

Proprietary marketing research is the gathering of new data to investigate specific problems and is otherwise not available.

Question 14

Global information systems allow management to track the whereabouts of delivery personnel.

Accepted Answer

This describes global positioning satellite (GPS)systems.

Question 15

Web tracking is illegal.

Accepted Answer

Web tracking is a legal activity in which marketing researchers monitor trends and information posted by consumers that pertains to the company's brand or products.

Question 16

An organization's salesforce frequently provides important marketing intelligence information.

Accepted Answer

Salesforce can provide valuable information about customer preferences, purchasing patterns, and market trends, which can be used in marketing strategies and decision-making.

Question 17

Data,information,and intelligence all have the potential to create value to the firm through better decision making.

Accepted Answer

Data, information, and intelligence can provide insights that can improve decision making, leading to better outcomes and ultimately creating value for the firm.

Question 18

Foxnews.com is an example of a content provider on the World Wide Web.

Accepted Answer

Foxnews.com is a website that provides news-related content and is an example of a content provider on the World Wide Web.

Question 19

Data and information can be delivered to consumers or other end users via either primary technology or secondary technology.

Accepted Answer

Data and information can be delivered via either pull technology or push technology.

Question 20

The goal of a CRM system is to describe customer relationships so that managers can access information themselves.

Accepted Answer

The goal of a Customer Relationship Management (CRM) system is to manage and analyze interactions with customers and potential customers. This includes collecting and organizing customer data, tracking customer interactions, and providing insights to better understand customer behavior and preferences. The ultimate aim is to improve customer relationships and increase customer loyalty. By having access to this information, managers can make more informed decisions about marketing, sales, and customer service strategies.

Quiz 2: Data Mining Procedures and Knowledge Systems