Business Information test 2

What benefits does customer relationship management software (CRM) provide to an organization? More than one answer may be correct.

-Identify and attract potential customers. -Determine ways to sell additional products and services to existing customers

Which two of the following statements describe key benefits of an integrated computer-assisted design (CAD) module within an ERP system?

-Managers can track processes that use computer-assisted design throughout an entire manufacturing cycle. -Managers can monitor the use of materials, machines and labor, and level of completion within CAD processes

From the following list, select all the primary considerations when developing the goals for a social media information system (SMIS).

-The organization's larger goals for its mission -The organization's purposes for using social media

Commonly used techniques to gain information in web mining include ________, ________,and ________.

-WCM -WSM -WUM

RDBMS (Relational Database Management System) elements include features that maintain data ________, accuracy, integrity, and ________.

-security -consistency

List steps organizations who employ a CRM system can take to protect customer data. More than one answer may be correct.

-server security -proper CRM administration -CRM software updates

SoSQL (non-relational databases) are also useful for querying the data generated by ________ sites, ________ apps, and other emerging digital content sources.

-social media -mobile

From the following list, select the two resources that organizations can track using accounting management software.

-tangible assets -intangible assets

Of the following benefits, which two can managers access through an integrated HRM software module included in an ERP system?

-the ability to retrieve and analyze human resources data in a centralized location -a presentation that supports decision making through the efficient use of employee data

Data analysts are likely to have achieved what education level when beginning their career?

Bachelor's degree

The phenomenon in which computer chips double in computing power roughly every 18 months is called

Moore's Law.

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).

Which of the following is a popular data analytics program that offers business intelligence as well as data visualization?

Tableau

What is the term for a CRM that tracks the type of sale that is most likely to make a person purchase an item that they have previously viewed on an e-commerce site?

User Experience

What is a Gantt chart

a visual timeline of project phases and tasks

Managers have the greatest degree of control over a new business management system that is implemented as

an on-premises solution.

What is the first step in the six-step process of creating an SMIS?

create system goals that align with the goals of the organization

The 3-step data visualization process consists of exploring the data sets for pattern, then planning for visuals, and finally

creating your visuals.

The information needed to calculate share of customer is provided, in large part, by

customer relationship management systems.

A cloud database infrastructure integrates computer hardware and operating system in an internet-based ________.

datacenter

Trying to answer questions such as "what happened?" or "what is occurring?" or "what was the ROI?" is the role of

descriptive analytics.

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

in the first half of 2020.

Data marts are used to track ________, purchase transactions, and the supply chain.

inventories

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.

What is the second step in the six-step process of creating an SMIS?

outline measurements of success

In the business landscape, social media information systems are

relatively new and increasing in importance

Data-driven decision making (DDDM) can be facilitated through a six-step processes of Ask, Prepare, Process, Analysis, Share, and Act. Which of these steps refers to creating visualizations and presentations for key stakeholders?

share

A social media information system (SMIS) is composed of three parts, which are

social media strategies, social media presence, and user engagement.

Which program is typically limited to one user at a time?

spreadsheet

In computer programming, a set of rules and guidelines that define a specific computer language is referred to as the language's

syntax

A common SQL term used in queries is FROM. FROM allows the user to choose the _____ of the database in which the query is located.

table

Michelle runs a shop on Etsy. One month, she spends $2,800 to promote her shop on Etsy and other social media sites. In that month, she gains 50 new customers. What is her customer acquisition cost for that month?

$56

Select three of the following examples that show the relationship between inventory management and business success.

-A California grocery store reduces prices on several varieties of summer fruit. -A New York electronics retailer limits the number of niche smartphones it orders. -A Chicago hardware store runs out of snow shovels in January to the frustration of its customers.

Describe what is known about relatively recent data breaches. More than one answer may be correct.

-According to research, there were 2037 publicly reported data breaches in the first half of 2020. -In the first half of 2020, data breaches exposed over 27 billion records of information. -The main reason most data breaches occur is due to misconfigured databases and services.

Which of the following statements about the revenues of global e-commerce companies are correct?

-Amazon has had revenues of over $280 billion. -Alibaba has had revenues of over $56 billion. -JD.com's revenues have eclipsed $70 billion.

Describe how business-to-business (B2B) e-commerce transactions work. More than one answer may be correct.

-Business-to-business (B2B) e-commerce is the selling of good and services between businesses. -B2B transactions often involve orders placed on a recurring basis. -B2B purchases often occur in large quantities and are directly shipped from one business to another.

Describe how business-to-government (B2G) e-commerce transactions work. More than one answer may be correct.

-Business-to-government (B2G) is e-commerce where the selling of goods and services from a business to a governmental organization takes place via online platforms. -B2G often includes prenegotiated contracts between a business and governmental organization. -In B2G transactions, governmental organizations often issue a request for proposal (RFP) that outlines the goods or services needed.

Select all true statements about CRM analytics from the following. More than one answer may be correct.

-CRM analytics provides insights into customer behavior that can be used to make informed business decisions. -Data is gathered from point-of-sale, e-commerce technology, and customer interactions. -CRM analytics can be considered a form of online analytical processing.

Describe how customer relationship management (CRM) systems help businesses develop relationships with customers. More than one answer may be correct.

-CRM systems provide organizations a clear overview of their customers. -Information from CRM systems can be efficiently and intelligently used to make informed business decisions and to develop relationships with their customers -Data collected by CRM systems includes customers' likes and dislikes, what content they engage with, and what they post about competitors.

Describe benefits of cloud-based ERP systems over on-premises ERP solutions. More than one answer may be correct.

-Cloud-based ERP systems allow organizations to access reports from remote locations. -Cloud-based ERP systems have lower IT infrastructure expenses. -Organizations using cloud-based ERP systems have reduced IT labor expenses.

Which of the following is an example of a company using social media during the marketing research process? More than one answer may be correct.

-Collect data and information -Analyze data and information

Which of the following statements explain why data and procedures are studied as one social media information system (SMIS) component? More than one answer may be correct.

-Data and procedures are work together to keep SMISs functioning. -Procedures help providers properly collect, direct, protect, and regulate the use of data.

From the following list, select all the reasons why organizations should identify their target markets when creating a social media information system (SMIS).

-Different social media platforms attract and cater to different markets. -Social media marketing is more cost-effective if it targets specific markets.

Which statement accurately describes the global reach of e-commerce? More than one answer may be correct.

-E-commerce allows organizations to reach consumers across the globe. -Using e-commerce, organizations can reach the largest number of potential and existing customers, thus increasing their global influence. -E-commerce technology creates a global marketplace across cultural and national boundaries far more effectively than traditional commerce options.

Of the following, select the reasons why up-to-date inventory management systems are highly efficient. More than one answer may be correct.

-Estimates of reordering points are highly accurate. -Forecasts of order quantity levels are much improved.

Common database field names for a Members table would include which fields?

-FirstName -LastName -CellPhone

Why is it important for managers to seek buy-in from stakeholders when implementing new business intelligence (BI) software? More than one answer may be selected.

-In order for BI software to be worthwhile, users need to understand the process. -If users find the BI software to cumbersome to use, the data that it generates will lead managers to make suboptimal decisions.

What is the benefit of Facebook's Audience Insights tool providing information about users who are already connected to an event hosted by your organization? More than one answer may be correct.

-People who do not frequently interact with your brand may have attended your event; additional information allows you to target them for higher engagement with your organization. -People who have attended an event hosted by your organization already have a connection to the organization; more information about those people can help strengthen the connection they feel to the organization

Why are social media sites, such as Facebook, TikTok, and LinkedIn, valuable sites for companies looking to purchase third-party data? More than one answer may be correct.

-Social media users willingly share personal information on these sites that companies can use to specifically target advertisements and promotions. - Few social media users read the terms of service and understand how their data is being used.

Sally runs a shop on Etsy that has become quite popular after one of her Instagram posts went viral. She'd like to capitalize on her viral fame and is considering purchasing CRM software to assist with this. What are some of the ways a CRM would help Sally achieve this goal? More than when answer may be correct.

-The CRM could target new customers that have a similar profile to her existing customers. -The CRM could inform her existing customers of additional, similar products available in her shop.

From the following list, select all the statements that correctly characterize or define e-commerce ubiquity.

-The term refers to the degree an organization has gained access to consumers, thus increasing the likelihood of product or service adoption. -It is the ability of an organization to create a strong presence among consumers in many places, with minimal time constraints, to sell the products and services they offer. -It gives customers the ability to purchase products and services regardless of time or location.

Which of the following is an example of how the project communications piece of project management software could be used when integrated with enterprise resource planning software? More than one answer may be correct

-The visual project completion map is automatically updated as phases are completed. -The client is able to access information about all phases of the project in one place, reducing the need for individual status reports.

From the following list, select all the ways in which CRM systems assist businesses in targeting a market segment.

-They are used to identify a target market and provide insights into the profiles of these customers. -They help identify the common characteristics of target market members, including geographic location, demographic and psychographic backgrounds, and income level. -They provide analysis of customer characteristics, which is an important part of the target market identification process.

Using an inventory management system that integrates easily with an existing system is important for which of the following reasons? More than one answer may be correct.

-Using a system that employees are familiar with will probably reduce training time. -Employees' familiarity with a system should help reduce stress.

From the following list, select the companies that are leaders in the re-commerce market.

-Yerdle Re-commerce -thredUp -The RealReal

From the following list, select the major components that business management systems need in order to provide the services expected today.

-a database management system (DBMS) -a predictive information system -a decision-making information system

Customer acquisition costs associated with e-commerce activities include all of the sales and marketing costs associated with reaching and engaging potential customers and encouraging these customers to make an initial purchase. Which of the following are considered advertising and marketing expenses? More than one answer may be selected.

-a promoted tweet that will run on Twitter for seven days -a jingle that will run on the morning show of a local radio station -the analysis that shows which social media platform generated the most new revenue during a campaign

From the following list, select ways in which CRM systems are used for customer acquisition.

-acquiring customers using social media, search, affiliate, referral, and email marketing -tracking customer acquisition using a lead generation funnel -tracking prospective and current customers through all stages of the funnel

Which of the following is a benefit to integrating CRM software into an existing ERP? More than one answer may be correct.

-better visibility of customer relationships -faster billing -faster data access times

A manufacturer's latest smartphone has become extremely popular. How can the manufacturer use its ERP system to ensure that its retailers are able to keep the phone in stock? More than one answer may be correct.

-by obtaining CRM data about customer demand -by analyzing BI data about its supply chain

A cost-benefit analysis is a useful tool used to analyze the costs associated with implementing a project or set of activities and the benefits that can be achieved as a result of the implementation. Which of the following would be considered costs when conducting a cost-benefit analysis? More than one answer may be selected.

-capital outlay -time commitment costs

In which of the following areas can e-commerce technologies help to reduce an organization's operating costs? More than one answer may be correct.

-communication -information collection -information processing

What are the names of some forms of e-commerce that involve the consumer providing a product or service? More than one answer may be correct.

-consumer-to-consumer -consumer-to-business -consumer-to-administration

Basic DBMS functions allow users to ________, read, ________, and ________ data.

-create -update -delete

On which of the following business sectors has m-commerce had notably large impacts?

-financial services -health care -retail sales

From the following list, select the additional benefits of integrating ERP systems with financial management systems to provide centralized access and management of financial data.

-improved visibility -structured compliance architecture -the ability to generate financial reports

When a business is selecting a customer segmentation tool, what factor or feature does Salesforce.com recommend the business consider? More than one answer may be correct.

-integration -data collection tools -cost

Of the following categories, which are identity data? More than one answer may be correct.

-name and address -date of birth

What are characteristics of business-to-business (B2B) transactions? More than one answer may be correct.

-often transpire on a recurring basis -generally involve large quantities -often include direct shipment between businesses

OLAP is used to support businesses in a wide range of areas including

-performance management -financial reporting -simulation model

A cost-benefit analysis is a useful tool used to analyze the costs associated with implementing a project or set of activities and the benefits that can be achieved as a result of the implementation. Which of the following would be considered benefits when conducting a cost-benefit analysis? More than one answer may be selected.

-potential return on investment -potential costs averted -brand exposure

Information in a database table is made up of ________ called records or objects, and ________ called fields.

-rows -columns

An appropriate and consistent compensation plan is necessary for which of the following categories of employees? More than one answer may be correct.

-salaried workers -hourly workers contact workers

From the following list, select the primary responsibilities or duties of a human resources manager that can be accomplished using a human resource management system

-scanning the environment to determine future HR needs -recruiting, hiring, training, retaining, compensating, appraising, promoting, reassigning, and firing employees -managing employee grievances, absences, sick days, and paid-time-off days

Which three of the following advantages for managers are realized through integration of a transaction processing system (TPS) with an enterprise resource planning (ERP) system?

-time savings -less human error -reduced costs of labor

Which of the following are areas that are covered on an e-commerce presence map? More than one answer may be selected.

-type of presence -the platform -the activity

From the following list, select all the customer characteristics that are commonly analyzed by a CRM and used to create an ideal customer profile.

-where customers are located -what customers buy and how often -why customers make their purchase

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

.....

What type of field is used in both tables to create a relationship?

.....

Of the listed methods of collecting demographic information, which is the most effective for organizations defining their target market?

.......

Data centralization means that data is centralized in ________ place(s).

1

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 type of software can be integrated with ERP software to record ledger journaling and billing in the same platform as other, related data?

Accounting

Which View lets you change database table Field Names and Field Properties?

Design View

Which stage of the project management process involves constantly monitoring the progress of the project and the project's resources?

Execution Stage

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

ERP software integrates several software packages into a single platform. Which of the following software packages stores employee compensation and performance information?

HRM software

What is the goal of the process design step of business process management (BPM)?

Identify redundancies and inefficiencies in existing processes.

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

Managers adapt (modify) the process to enhance process performance.Correct

How are social media metrics and social media goals related?

Metrics that correspond to social media goals can serve as key-performance indicators (KPIs) for them.

A database record is also referred to as a ________ in the table.

Row

What is the role of social media information systems (SMIS) in consumer behavior?

SMIS provide user data and analytics tools that help inform consumer behavior researchers.

In a data warehouse, data is analyzed using business intelligence (BI) tools, ________ clients, and a variety of analytics applications designed to interpret the data.

SQL

Cloud-based ERP solutions are usually offered as

SaaS

Using the correct syntax allows the user to extract data from multiple fields found in data tables. In order to extract information from multiple tables, the ______ command is used to indicate multiple fields in conjunction with FROM and WHERE to narrow the search and get specific results.

Select

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.

Integrating a business software module into an ERP has several advantages. Which of the following business software modules includes customer payment information?

TPS software

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

a data point that can be analyzed is recorded

Someone who possesses the knowledge of processing software, business strategy, and analytical skill to deliver data and reports that guide management and executives as they create well-informed decision making is known as a data

analyst

Organizations that use an on-premises business management system

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

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

brick-and-mortar store locations

Data analysts must blend facts and data with knowledge about the

business or organization.

The Foreign Key is a ________ field between tables that is not the primary key.

common

The purpose of programs that analyze connection data is to

create information about user behavior and patterns to benefit a sponsor.

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). What type of CRM strategy is the company using?

demonstrating the value of CRM

Data redundancy is the ________ of data.

duplication

Benefits administration involves the human resource (HR) function of

enrolling, maintaining, managing, and discontinuing employee benefits.

Human resource management systems are invaluable to HR managers who lack legal expertise because the systems

ensure that HR actions comply with governmental regulations.Correct

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

Vector and raster files are

geographic data.

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

high costs

Database Management Systems (DBMS) assign users different access rules to protect the data and users from ________, data leaks, and the misuse of data.

identity theft

A new app was released providing consumers with digital coupons for products the consumer indicates they frequently purchase. The app gives different users coupons with different values and shares purchasing as well as demographic information with the product manufacturer. Under what circumstances would the information sharing with product manufacturers be ethical?

if the app's terms of service indicated who they would be sharing information with and what information would be shared

What is the overarching goal of organizations choosing to adopt an enterprise resource planning (ERP) system?

increase operational efficiency

If an organization wants to increase user engagement on social media, it wants to

increase the conversion rate of its social media posts to interactions with users.

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.

Descriptive data about a customer includes categories such as

lifestyle and career.

Some popular social media management systems are becoming more difficult to manage because

millions of diverse users across the globe are active participants.

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

mobile platform planning and implementation

Qualitative data that is not categorized is called nominal data. Qualitative data that is categorized (ranked, for example) is considered _____ data.

ordinal

RAM storage and ________ processing are two main in-memory computing components.

parallel

When data is anonymized, the PII is eliminated or encrypted. PII includes names, Social Security numbers, addresses, and more and stands for ______ identifiable information.

personally

Which of the following is a popular Microsoft data analytics program that offers business intelligence as well as data visualization?

power BI

The first step in business process management, in which analysts often "storyboard" the processes in an attempt to view the entire system prior to investigating each component is called

process design.

The third step in business process management provides managers the ability to play the "what-if" game by changing input variables (abstract) decision making. This step is called

process execution.

SQL, usually pronounced "sequel," is quite useful when working with large data sets. The Q in SQL stands for

query

In the initiation phase of project management, the client and project manager determine if the project is SMART. What does the R in SMART refer to?

realistic

Collections of related fields in a database are referred to as

records

A major trend in data analytics is the use of artificial intelligence to focus on small data which is more precise, using small datasets that are capable of impacting decisions in the present. This is known as ______ AI.

scalable

Which step in securing customer data ensures proper management of firewalls and routers?

server security

data quality audit uses ________ analysis to test data, variabilities, and outcomes against test data.

statistical

One way to visualize a data ecosystem is to apply it to the data project life cycle. The Data Science Ready project outlines the five steps of the data project life cycle. The final stage in this life cycle is

storage

SQL allows users to isolate specific information contained in a database, as well as to aid in the selection, creation, addition, and extraction of data from a database. SQL stands for ______ query language.

structured

Decision-making management information systems are necessary because

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

When selecting the right data, it is important to be aware of the source of the data. For example, data that is sold by an entity that didn't actually collect the data is considered ______ data.

third party

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