CH 5/6 quizzes

True

The ability to interact with the system to create customized information is the true value of a decision support system (DSS). a. True b. False

False

The element of a DSS that clearly separates it from an MIS is its model system. a. True b. False

B

When data that marketers need to make decisions already exist inside or outside the organization, it is known as a. exploratory data. b. secondary data. c. preexisting data. d. primary data.

A

Which systems approach makes the most sense for a manager in a dynamic marketing environment that needs data at irregular intervals? a. Decision support system (DSS) b. Marketing Dashboard c. A systems approach does not make sense for a manager under these conditions. d. Marketing information system (MIS)

A

Which systems approach to providing managers with the information they need produces regular, standardized reports based on data held in a database? a. Marketing information systems (MIS) b. Marketing dashboards c. Decision support systems (DIS) d. Customer relationship management systems (CRM)

C

Which type of data, when analyzed, is useful for identifying "super-influencers" who can make or break a product, brand, or service? a. Mobile data b. Structured data c. Social data d. Omni-channel transaction data

True

Because the time from data collection to data dissemination is often long, secondary data are often out of date. a. True b. False

A

Big data is multidimensional and can be described by the four Vs. Which of the following is NOT one of the four Vs? a. Visibility b. Velocity c. Volume d. Veracity

True

Big data is ultimately about establishing processes to yield insightful outcomes from analyzing large and varied data sets. a. True b. False

B

Companies that wish to gain insights through big data analysis are likely to face which challenges? a. The lack of structured and unstructured data b. The lack of employees with analytical skills to turn data into information c. The lack of technology and tools for big data analysis

D

Evidence that the research that collected secondary data was done properly involves understanding what details about the data collection process? a. Definitions b. Data collection forms c. Method of sampling d. All of the above provide evidence that research was done properly.

True

If data can be captured in the rows and columns of a spreadsheet or database, it can be structured. a. True b. False

D

Knowledge management is an effort to collect and make accessible what kind of information an organization's people possess? a. Customer information b. Product information c. Process information d. All of the above are correct.

C

Of the key challenges of big data integration within a firm, which one does the text suggest is the biggest challenge? a. Access to and retrieval of data b. Maintaining individual privacy c. Firm integration of big data d. Analytic skills

C

Of the most widely acknowledged and newest sources of data, the type that allows companies to get a 360-degree view of a customer's purchasing patterns is a. VoC data. b. mobile data. c. omni-channel transactional data. d. social data.

True

One of the challenges of accessing and retrieving data is the ability to merge unstructured and structured data. a. True b. False

D

Secondary data is typically more accurate when a. the data collection process is not disclosed. b. it comes from an anonymous, external source. c. it has been collected in support of an advocacy research effort. d. it comes from the primary source that originated the data.

True

Secondary data make up most of the data held in data systems used in marketing research. a. True b. False

True

Social media data is useful for Voice of the Customer (VOC) research to understand customer experience, likes, and dislikes. a. True b. False

A

The information on a product warranty card, such as serial number and contact information, is an example of which kind of data? a. Structured b. Omni-channel c. Unstructured d. Social

False

The prescriptive technique of big data analysis uses data mining to extract patterns from large data sets. a. True b. False

False

The usefulness of a knowledge management system depends on the willingness of customers to share information. a. True b. False

B

What approach seeks to systematically collect organizational knowledge and make it accessible to others? a. Enterprise resource planning b. Knowledge management c. Human resources management d. Customer relationship management

A

What descriptive analysis technique might a retailer use to analyze millions of transactions to understand the relationship between things in the shopping carts (market baskets) of consumers? a. Data mining b. Regression analysis c. Monte Carlo simulation d. None of these techniques are appropriate for market basket analysis.

B

What is the fifth V of big data - value - most concerned with? a. Handling the high pace of data inflows and outflows b. Increasing existing or creating new revenue streams c. Integrating the highly variable sources of data d. Developing accurate and trustworthy data sources and systems

B

What is the type of big data analysis that is designed to aid both explanatory and forecasting abilities? a. Prescriptive b. Predictive c. Descriptive d. Neural

A

What is true about Customer Relationship Management (CRM)? a. It is a system for gathering all relevant information about a company's customers. b. It's goal is to better understand sales representative needs and behaviors. c. CRM cannot be part of the larger DSS of an organization. d. All of these statements about CRM are true.

B

What source of secondary data might be useful for a company seeking to understand the type of people who use its products? a. Cost data from accounting b. Product registration card data c. An online survey of people who have purchased the products d. U.S. Census Bureau data

D

What type of analysis might a government health agency use to predict the symptoms and spread of an influenza outbreak? a. Regression analysis b. Neural network analysis c. Association rule learning d. Time series analysis

C

Which broad type of data represents the greater challenge for integration and analysis as part of big data analysis? a. Structured b. Restructured c. Unstructured d. All types are equally challenging to integrate and analyze.

A

Which component of a decision support system (DSS) has modules containing information about customers, general economic and demographic data, competitor information, and industry information such as market trends? a. Data system b. Model system c. Dialog system d. Logic system

A

Which component of a decision support system (DSS) has routines or tools for helping managers do things like make better marketing mix decisions and new product development decisions or assess alternative marketing plans? a. Model system b. Logic system c. Dialog system d. Data system

C

Which dimension of "big data" refers to the pace of data flow both into and out of a firm? a. Variety b. Volume c. Velocity d. Validity

D

Which of the following are components of a decision support system (DSS)? a. The data system b. The model system c. The dialog system d. All of these are components of a decision support system.

D

Which of the following are potential sources of unstructured data? a. Product reviews found on Amazon.com b. Instagram photos c. Text messages d. All of these are potential sources of unstructured data.

D

Which of the following is a limitation of the systems approach? a. The cost and time required to build information systems b. Different managers have different data needs. c. Managers are limited to the data available in the system. d. All of these are limitations of the systems approach

C

Which of the following is a potential disadvantage of using secondary data? a. The time required to retrieve and use it b. The cost involved in using it c. The quality of the data d. None of these are potential disadvantages.

C

Which of the following statements about "big data" is NOT true? a. Determining how to combine the variety of data types is challenging. b. Mistakes in data can breed mistakes in the information derived from analyzing data. c. The sources of big data are highly invariable. d. Finding which combinations of data are most valuable is challenging.

C

Why might omni-channel transactional data analysis be important to a retailer? a. Because it provides Voice of the Customer (VOC) data b. Because it lets you set up "geofences" to reach customers by location c. Because it lets you identify customers' paths to eventual purchase points d. All of the above are true.