Question 1

A(n) _____ refers to a heads-up display of critical indicators that allow managers to get a graphical glance at key performance metrics.
A) interstitial
B) embassy
C) canned report
D) prediction interface
E) dashboard

Accepted Answer

A dashboard is a heads-up display of critical indicators that allow managers to get a graphical glance at key performance metrics, making it the best choice among the given options. An interstitial is a web page that appears before or after an expected content page. An embassy is a diplomatic representation of a country in another country. A canned report is a pre-defined report that is available for general use by an organization. A prediction interface is a software tool that provides predictions based on data and machine learning algorithms.

Question 2

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

Accepted Answer

The statement is false. The first findings of analytics provide initial insights and recommendations, but they may need to be tested and refined based on further analysis and real-world implementation. Skittish and untrusting managers should approach analytics with an open mind and be willing to iterate on their strategies based on new data and feedback.

Question 3

A data cube refers to a:
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.

Accepted Answer

A data cube is a special database used to store data in OLAP reporting. It allows for users to easily analyze large amounts of data from different perspectives.

Question 4

Data mining is leveraged by some firms to determine which products customers buy together, and how an organization can use this information to cross-sell more products or services. This area of application of data mining is referred to as:
A) market basket analysis.
B) expert systems.
C) customer churn.
D) customer segmentation.
E) vertical integration.

Accepted Answer

Market basket analysis is the process of identifying which products customers tend to buy together. This information can be used by organizations to cross-sell more products or services to customers.

Question 5

Which of the following is not considered an advantage of Hadoop?
A) flexibility.
B) relational structure.
C) scalability.
D) cost effectiveness.
E) fault tolerance.

Accepted Answer

Hadoop is a non-relational database system and therefore does not have a relational structure. However, this is not considered a disadvantage as the goal of Hadoop is to handle large, unstructured data sets that do not fit into traditional relational databases. The other options (flexibility, scalability, cost effectiveness, fault tolerance) are all considered advantages of Hadoop.

Question 6

_____ is a method of querying and reporting that takes data from standard relational databases, calculates and summarizes the data, and then stores the data in a special database called a data cube.
A) Ad hoc reporting
B) E-discovery
C) Data aggregation
D) Online analytical processing
E) Data adjacency

Accepted Answer

The described method is Online Analytical Processing (OLAP), which is used for multidimensional analysis and data summarization. Ad hoc reporting refers to creating one-time reports for specific needs, e-discovery is the process of identifying relevant electronic data for legal cases, data aggregation is the act of combining data from various sources into a single source, and data adjacency refers to analyzing the relationship between adjacent data points.

Question 7

Every dollar spent on technology may lead to five to seven more dollars on____________.
A) Advertising
B) consulting and other services
C) facility space
D) none of the above
E) all of the above

Accepted Answer

The answer of Every dollar spent on technology may lead...

Question 8

Addressing a data need to compete in business or address future goals is known as ____________.

Accepted Answer

The answer of Addressing a data need to compete in...

Question 9

Why would a firm choose Hadoop for a big data project instead of using conventional relationial databases?

Accepted Answer

The answer of Why would a firm choose Hadoop for...

Question 10

Addressing the data system housing, hardware and networking requirements is known as ____________.

Accepted Answer

The answer of Addressing the data system housing, hardware and...

Question 11

_____ is the process of using computers to identify hidden patterns in and to build models from large data sets.
A) Data harvesting
B) E-discovery
C) Optimization
D) Report canning
E) Data mining

Accepted Answer

Data mining is the process of using computers to identify hidden patterns in and to build models from large data sets. Data harvesting refers to the collection of data, E-discovery is the process of identifying and collecting electronically stored information for legal reasons, Optimization involves finding the best solution to a problem, and Report canning refers to the automation and standardization of report creation.

Question 12

E-discovery refers to:
A) identifying and retrieving relevant electronic information to support litigation efforts.
B) something a firm does not account for in its archiving and data storage plans.
C) older information systems that are often incompatible with other systems, technologies, and ways of conducting business.
D) collecting and reselling data.
E) rewards and usage incentive, typically in exchange for a method that provides a more detailed tracking and recording of consumer activity.

Accepted Answer

E-discovery refers to the process of identifying and retrieving relevant electronic information to support litigation efforts, such as emails, messages, documents, and other digital files. It is an essential aspect of modern legal practice, allowing lawyers to find and use electronic evidence during trials and investigations.

Question 13

What are data warehouses and data marts? What is their significance in terms of data organization?

Accepted Answer

The answer of What are data warehouses and data marts?...

Question 14

OLAP technology is primarily used for transaction processing.

Accepted Answer

OLAP technology is primarily used for online analytical processing, which involves analyzing and querying large amounts of data in real-time to make strategic decisions. It is not used for transaction processing, which involves recording and processing individual business transactions.

Question 15

Random occurrences in data mining results can be detected by dividing the data and building a model with one portion and using another portion to verify the results.

Accepted Answer

This technique is known as cross-validation and helps to prevent overfitting and detect random occurrences in data mining results.

Question 16

_____ put(s) users in control so that they can create custom reports on an as-needed basis by selecting fields, ranges, summary conditions, and other parameters.
A) Canned reports
B) Ad hoc reporting tools
C) Dashboards
D) Data cubes
E) Online analytical processing

Accepted Answer

Ad hoc reporting tools allow users to create custom reports by selecting fields, ranges, summary conditions, and other parameters, putting them in control of the reporting process. Canned reports, on the other hand, are pre-built and offer little flexibility. Dashboards and data cubes are visual representations of data, while online analytical processing (OLAP) is a technology used for analyzing data in multiple dimensions.

Question 17

What are the issues to be addressed in order to design, develop, deploy, and maintain data warehouses and data marts?

Accepted Answer

The answer of What are the issues to be addressed...

Question 18

_____ refer to databases focused on addressing the concerns of a specific problem or business unit.
A) Data marts
B) Dashboards
C) Hadoop
D) Data aggregators
E) Data analytics

Accepted Answer

Data marts are designed to serve a specific business unit or functional area within the organization. They are typically subsets of larger data warehouses and contain data relevant to a particular group, such as sales or marketing. Dashboards, Hadoop, data aggregators, and data analytics are not necessarily focused on addressing the concerns of a specific problem or business unit.

Question 19

Why do firms need to create separate data repositories for their reporting and analytics work?
A) Most firms store their data assets offsite to insure themselves against the possibility of data damage through natural disasters.
B) Maintaining huge databases can be a cost-sink for most firms.
C) Most organizations need to differentiate data derived in-house and from data aggregators.
D) Running analytics against transactional data can bog down a TPS.
E) Reporting and analytics are two separate functions, each requiring its own separate database specifically formatted to the needs of the management team.

Accepted Answer

Running analytics, which involves complex calculations and analysis, against transactional data in a TPS can significantly slow down the system's performance. By creating separate data repositories for reporting and analytics, firms can improve their overall data processing and analysis capabilities. This approach also allows firms to tailor their databases to the specific needs of each function, rather than trying to fit everything into a single database.

Question 20

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

Accepted Answer

Spreadsheets can be used for "what-if" analysis by using functions such as Goal Seek, Solver, and Scenario Manager.

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

A(n) _____ refers to a heads-up display of critical indicators that allow managers to get a graphical glance at key performance metrics.

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

A data cube refers to a:

Data mining is leveraged by some firms to determine which products customers buy together, and how an organization can use this information to cross-sell more products or services. This area of application of data mining is referred to as:

Which of the following is not considered an advantage of Hadoop?

_____ is a method of querying and reporting that takes data from standard relational databases, calculates and summarizes the data, and then stores the data in a special database called a data cube.

Every dollar spent on technology may lead to five to seven more dollars on____________.

Addressing a data need to compete in business or address future goals is known as ____________.

Why would a firm choose Hadoop for a big data project instead of using conventional relationial databases?

Addressing the data system housing, hardware and networking requirements is known as ____________.

_____ is the process of using computers to identify hidden patterns in and to build models from large data sets.

E-discovery refers to:

What are data warehouses and data marts? What is their significance in terms of data organization?

OLAP technology is primarily used for transaction processing.

Random occurrences in data mining results can be detected by dividing the data and building a model with one portion and using another portion to verify the results.

_____ put(s) users in control so that they can create custom reports on an as-needed basis by selecting fields, ranges, summary conditions, and other parameters.

What are the issues to be addressed in order to design, develop, deploy, and maintain data warehouses and data marts?

_____ refer to databases focused on addressing the concerns of a specific problem or business unit.

Why do firms need to create separate data repositories for their reporting and analytics work?

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