BIS test 2 Study 5-8

Which of the following scenarios represents a customer acquisition cost of $100?

A company spends $100,000 on advertising and marketing in one month. They gain 1,000 new customers in that month.

Why is a target market important to businesses and organizations?

A target market is the group of consumers most likely to purchase an organization's products and services.

What is conducted in the process design step of business process management?

Activities are examined and divided into their individual components.

What is conducted in the process modeling step of business process management?

Analysts use flowcharts and other tools to depict workflow.

What is a key difference between business-to-government (B2G) transactions and other types of e-commerce?

B2G transactions involve prenegotiated contracts.

What business management system seeks to streamline an organization's activities to prevent backlogs and inefficiencies?

Business Process Management (BPM)

The use of machinery to assist in employee management began during the late 19th century when time clocks with punch _________ were developed to track employee work hours.

Cards

Which stage of the project management process involves documenting the lessons learned during the project's execution?

Closure Stage

Jose's business management system needs to meet very unique needs. He also has a very small IT department. Which business management system should Jose adopt?

Custom cloud-based Solution (PaaS or IaaS)

Which business management system typically begins by collecting customer information such as email, telephone, and social media data, and then combines this with information regarding the customer's buying habits, so that the management team can better anticipate customer desires?

Customer Relationship Management (CRM) System

The acronym for Data Governance is ________.

DG

What is gathering, storing, and searching relevant data known as?

Data Science

Social media providers include which of the following web-based platforms?

Facebook, Instagram, and Twitter

Makoto and Rebecca want to hire a nanny for their 6-month-old baby. Before allowing someone into their home to watch their child, they are planning on running a comprehensive background check, including a credit check. Which law specifies whether Makoto and Rebecca are legally allowed to access potential candidate's credit information?

Fair Credit Reporting Act

Universal Product Codes (UPC) and Radio Frequency Identification (RFID), combined with database management systems (DBMS), have greatly advanced the performance of_________ management systems.

Inventory

Which of the following is an example of a benefit to using a scroll-over feature on a Business Intelligence (BI) dashboard?

It allows the user to see the details of the project right from the screen with overall summary of the project.

What occurs during the process monitoring step of business process management?

Managers track the individual components of the process as well as the process as a whole so that the performance of the engine can be measured.

Computer chips double in computing power roughly every 18 months. This phenomenon is called:

Moore's Law

When implementing a new business management system, which option provides managers with the greatest degree of control?

On-Premises Option

OLAP software allows users to perform multidimensional analysis of a wide range of business data, complex calculations, and trend analysis, as well as data modeling. What does OLAP stand for?

Online Analytical Processing

Which phase of the project management process involves feasibility studies?

Phase 1: initiation phase

Employee compensation software at major corporations is often included as part of its enterprise resource _______ (ERP) software suite

Planning

The 2nd step of BPM involves the use of flow-charts and other tools to examine decision points and inputs. This step is called:

Process Modeling

What does the acronym RDBMS stand for?

Relational Database Management Systems

The strategic use of employees to allow organizations to operate efficiently and gain competitive advantage is referred to as human ________ management

Resource

Cloud-based ERP solutions are usually offered as

SaaS.

Which privacy law gives the government authority to prevent unfair or deceptive trade practices?

Section 5 of the Federal Trade Commission

Of the following statements, which one specifically applies to the CRM integration of platforms such as Facebook, YouTube, and TikTok?

Social media platforms provide targeted customer information.

Of the following statements, choose the one that most accurately distinguishes social media providers from social media sponsors.

Social media providers build and host website platforms and sponsors invest in these platforms to enhance their social media presence.

Cloud-based ERP systems are a form of

Software as a Service (SaaS).

When implementing a new business management system, which option provides managers with lowest initial start-up expenses.

Software-as-a-Service (SaaS) Option

Which of the following is the term for CRM analytics that provides information about where data erosion occurs and how the erosion can be minimized?

Standardized Data Collection Processes

The first two steps of the six-step process in creating a social media information system (SMIS) involve developing social media goals and setting metrics. What are the third and fourth steps of the process?

Step 3: identify the organization's target market; Step 4: determine and integrate into the SMIS design traits valued by the target market.

Popular applications used by today's organizations in web mining include Google Analytics, Data Miner, and ________.

Tableau

What is conducted in the process execution step of business process management?

The business process execution language engine is run.

A company is trying to determine why users are deleting or no longer engaging with their app on a regular basis. Which of the below is an example of how the company could use CRM to make this determination?

The company could use CRM to determine what part of the app users who deleted it were in right before the app was deleted.

How do businesses ultimately benefit from using a CRM to identify the highest revenue customers in a target market, before developing a marketing campaign?

They save time and money by targeting this precise segment of the market

Which component of a business management system can help a manager check and report on the company's current inventory?

a cloud-based software as a service (SaaS) system

Each time a user clicks or interacts on a social media website

a data point that can be analyzed is recorded.

Using a Database Management System (DBMS) increases data security by using ________ so that only authorized users can access data.

access rules

An effective social media information system (SMIS) collects and analyzes data about the organization's

activities and audience on social media and its own website(s).

Data mining is a means of ________ data that can help organizations find patterns and relationships within data sets.

analyzing

Organizations that use an on-premises business management system

are also responsible for maintaining, updating, and securing the system.

Along with their pay, HR managers often need to track employee hiring dates, marital status, number of dependents, cafeteria choices, and usage, in order to accurately manage their employees' ___ . For this reason, nearly all firms use a management system to ensure this is done correctly.

benefits packages

Many managers, particularly in smaller firms, use companies such as Zenefits and BenefitFocus to manage their employees

benefits systems.

What does business-to-consumer (B2C) e-commerce replace?

brick-and-mortar store locations

What is the MOST direct way in which customer relationship management (CRM) systems can help businesses increase their sales?

by helping them identify and attract prospective customers

When data is stored in one place, it means it is ________.

centralized

A key component, and major advantage, of an ERP is its

centralized database.

What is the name of the study of how people make purchases and why they buy products and services?

consumer behavior

Parameter queries prompt the user for values in order to run/execute the query. When the value of a parameter is given, the query applies the field as a ________.

criterion

The understanding that retaining customers is more profitable than finding new ones is behind which business management system?

customer relationship management

The business management system that collects customers' email, telephone, and social media data and adds information about their buying habits is a(n)

customer relationship management system.

Share of wallet is also known as share of

customer.

When creating a database field, we set ________ for each field to decrease data input mistakes.

data types

A database management system (DBMS) is a computer program that is used to create, process, and administer a

database

Data administration tasks include the development of information policies, data planning, ________, security, and how internal-users and end-users use that data

database design

A business management system includes three main components: a decision-making information system, a predictive information system, and a

database management system.

A company has an excess of puffer jackets at the end of the season that it wants to sell quickly. In order to quickly sell this excess inventory, they send out emails to customers currently in their database. However, they want to determine what type of sale their customers find most motivating, so they send out three different emails with different discounts (BOGO free, 50% a purchase over $100, or free expedited shipping). The information gained during this campaign will be tracked, and customers who made purchases will receive similar email offers in the future. What type of CRM strategy is the company using?

demonstrating the value of CRM

Benefits administration involves the human resource (HR) function of

enrolling, maintaining, managing, and discontinuing employee benefits.

Gartner IT Services company predicts that by 2021, customer relationship management systems will be the single largest revenue area of spending in

enterprise software.

Kronos Workforce Ready, BambooHR, PerformancePro, and others, provide packages designed to meet the employee___ needs of smaller firms.

evaluation

Apple has a very high customer equity (CE) value. Apple has gained this high CE value due to

extreme customer loyalty.

One benefit of using a CRM system to segment a market (rather than another type of market segmentation tool) is that a good CRM tool

facilitates using the company's own, collected data about customers

What must be integrated into an organization's enterprise resource management solution to allow it to create and maintain regulatory and compliance information from a centralized location?

financial management systems software

While ERP systems offer many competitive advantages to users, particularly those in upper management, a significant disadvantage is their

high costs.

According to research by Risk Based security, there were 2037 publicly reported data breaches

in the first half of 2020.

Which stage of the project management process involves meetings with project stakeholders to ensure everyone understands their role in the project?

initiation

A hybrid data mart ________ data from a data warehouse as well as other data collection systems. It incorporates a top-down approach, end-user inputs, and enterprise-level integration.

integrates

Calculating reordering points and order quantity levels are key advantages of modern

inventory management systems.

The difference between a company's fundamental value and its total value is that

its fundamental value is what customers and stakeholder's value about its product or service, while its total value includes the value added by other aspects of the business.

Descriptive data about a customer includes categories such as

lifestyle and career.

Managers should opt for a system that integrates easily with existing business management software, and that will take the shortest training time for employees that need to provide sale's or usage quantity inputs when choosing an inventory________solution.

management

Database administrators ________ and troubleshoot the database (if needed) to ensure it is stable and usable when needed.

monitor

Databases maintain data and information about various types of data ________.

objects

E-commerce ________ includes creating marketing messages that contain the individual's name, appeal to his/her interests, and take their purchase behavior into account.

personalization

Which of the following uses algorithms to determine likely outcomes given a set of inputs?

predictive analysis

The organizations likely to benefit the most from the global reach of e-commerce are those that

previously depended on foot traffic into one physical store to sell their products.

In the fourth step in business process management, managers track the individual components of the process as well as the process as a whole so engine performance can be measured. This step is called

process monitoring.

Software used by social media information systems websites include

programs that analyze data.

Areas covered in digital governance include data architecture, data ________, data modeling, data warehousing, and data security.

quality

Because we can create relationships in Microsoft Access, this program is considered to be a(n) ________ database.

relational

One reason to create database policies is to specify the ________ used in database design (how the data is structured)

rules

Hubspot CRM, Zoho CRM, and Freshsales CRM aim to meet the needs of

smaller businesses

Adding a dedicated group to your Facebook account allows you to meet online and keep in touch with others who share your interest. You can post relevant media, such as photos, articles, and videos. Which role in a social media information system (SMIS) does your group fit into?

social media community

SQL is used to communicate with a database. According to ANSI (American National Standards Institute), it is the ________ language for relational database management systems.

standard

What object is used to store information when creating a database?

tables

The e-commerce company with the highest revenue is based in which country?

the United States

Decision making management information systems became necessary because

the amount of information available far exceeds any manager's ability to take advantage of this increased information.

Decision-making management information systems are necessary because

the amount of information available far exceeds any manager's ability to use it.

Why is the meeting between all project stakeholders and key players scheduled as the final step in the planning phase?

the budgets and timelines need to be finalized before stakeholders and key players can understand the scope of the projects and their role within the project

In addition to the probable outcome, what other information does modern business intelligence software provide?

the degree of likelihood of the outcome

The concept of "share of customer" focuses on getting

the most business from the most customers.

What do most companies use as their main conduit for reaching and connecting with customers?

their website

The use of web mining by organizations can lead to improved website visibility, ________, and ________.

usability, accessibility

Online content that has been created and posted by unpaid contributors such as customers or fans of a product or service is referred to as

user-generated.

It is especially important for startup companies to create and follow a well-designed e-commerce strategy. Which of the following is the first phase in a well-designed strategy?

web planning

On an e-commerce presence map, what is presence?

websites, email, social media sites, and offline media