Chapter 1 Smartbook

Which of the following are types of machine-generated structured data?

- weblog data - point-of-sale data - sensor data

business departments and their primary data types

Accounting - Transactional data Sales - Potential customer data Operations management - Manufacturing data Marketing - Promotion data Human resources - Employee data Finance - Investment data

What gives an accounting picture of property owned by a company and of claims against the property on a specific date?

Balance sheet

Which of the following are examples of information as opposed to just data? (Select all that apply)

Best customer Worst selling product Best-selling product Best selling product

What is the scientific process of transforming data into insight for making better decisions?

Business analytics

How will a business estimate the impact on profits from increases or decreases in costs?

By manipulating variables

Select the four core drivers of the information age.

Data, information, business intelligence, knowledge

Which statement accurately describes the relationships between departments in a company for making solid business decisions for the company to operate as a whole?

Departments are interdependent and need data from other departments

What uses techniques that describe past performance and history?

Descriptive analytics

What age are we currently living in when infinite quantities of facts are widely available to anyone who can use a computer?

Information age

What is the primary difference between information and business intelligence?

Information primarily focuses on internal variables. BI manipulates multiple variables including both internal and external variables.

What is a world where interconnected Internet-enabled devices or "things" have the ability to collect and share data without human intervention?

Internet of Things

What are the human, structural, and recorded resources available to the organization?

Knowledge assets

Who helps harness the wealth of knowledge in the organization?

Knowledge facilitators

A limited partnership is much like a general partnership except for one important fundamental difference; the law protects the limited partner from being responsible for all of the partnership's losses.

Limited partnership

Which of the following are confirmed or validated with a fact?

Object Event

What provides an end-to-end view of how operations work together to create a product or service?

Systems thinking

Select the three departments found in a typical company.

accounting sales human resources

__________ is the science of fact-based decision making.

analytics

Knowledge facilitators help harness the wealth of knowledge in the organization. Knowledge facilitators help acquire and catalog the knowledge __________ in an organization.

assets

A(n) _______ unit is a segment of a company representing a specific business function.

business

________ analytics is the scientific process of transforming data into insight for making better decisions.

business

What is a segment of a company representing a specific business function?

business unit

Which of the following are types of human-generated structured data?

click-stream data gaming data input data

In analyzing a business, the characteristics of an individual sale, such as the order date, are best referred to as ______.

data

What type of analytics is best described with a report that includes charts and graphs explaining the data?

descriptive

What are the three categories of analytics?

descriptive predictive prescriptive

A _________ report changes automatically during creation. Dynamic reports can include updating daily stock market prices or the calculation of available inventory.

dynamic

Which of the following are types of unstructured data?

emails Twitter tweets text messages

A(n) ________ is the confirmation or validation of an event or object.

fact

What is information that returns to its original transmitter (input, transform, or output) and modifies the transmitter's actions?

feedback

What are the written records of the financial status of the business that allow interested parties to evaluate the profitability and solvency of the business?

financial statements

What are material items or products that customers will buy to satisfy a want or need?

goods

What is data that humans, in interaction with computers, generate?

human-generated data

What reports operating results (revenues minus expenses) for a given time period ending at a specified date?

income statement

In the _________ age infinite quantities of facts are widely available to anyone who can use a computer.

information

What are the two primary resources knowledge workers use to make decisions?

information and intuition

What occurs when one business unit is unable to freely communicate with other business units making it difficult or impossible for organizations to work cross-functionally?

information silo

What includes the skills, experience, and expertise, coupled with information and intelligence, that creates a person's intellectual resources?

knowledge

_________ includes the skills, experience, and expertise, coupled with information and intelligence, that creates a person's intellectual resources.

knowledge

What are the two names for the assets that reside within the minds of members, customers, and colleagues and include physical structures and recorded media?

knowledge assets

Who are individuals valued for their ability to interpret and analyze information?

knowledge workers

What refers to devices that connect directly to other devices?

machine-to-machine (M2M)

Which of the following terms is commonly associated with the Internet of Things?

machine-to-machine (M2M)

What is a business function that moves information about people, products, and processes across the company to facilitate decision making and problem solving?

management information systems

What extracts information from data and uses it to predict future trends and identify behavioral patterns?

predictie analytics

What uses techniques that create models indicating the best decision to make or course of action to take?

prescriptive

What type of analytics takes past purchasing data as inputs into a model that recommends the best pricing strategy across all flights allowing an airline company to maximize revenue?

prescriptive analytics

The impact of information technology on the global business environment is equivalent to the printing presses impact on ____________ and electricity's impact on ___________.

publishing

Productivity is the ______ at which goods and services are produced based upon total output given total inputs.

rate

What is a document containing data organized in a table, matrix, or graphical format allowing users to easily comprehend and understand information?

report

An information __________ occurs when one business unit is unable to freely communicate with other business units making it difficult or impossible for organizations to work cross-functionally.

silo

What summarizes sources and uses of cash, indicates whether enough cash is available to carry on routine operations, and offers an analysis of all business transactions, reporting where the firm obtained its cash and how it chose to allocate the cash?

statement of cash flows

What has a defined length, type, and format and includes numbers, dates, or strings such as Customer Address?

structured data

What is typically stored in a traditional system such as a relational database or spreadsheet and accounts for about 20 percent of the data that surrounds us.

structured data

What is a way of monitoring the entire system by viewing multiple inputs being processed or transformed to produce outputs while continuously gathering feedback on each part?

system thinking

A variable is a data characteristic that stands for a value that changes or varies over __________.

time

A(n) _______ is an exchange or transfer of goods, services, or funds involving two or more people.

transaction

What type of data is not defined and does not follow a specified format and is typically free-form text such as emails, Twitter tweets, and text messages?

unstructured data

A(n) ________ is a data characteristic that stands for a value that changes or varies over time.

variable

The Internet of Things (IoT) is a world where interconnected Internet-enabled devices or "things" have the ability to collect and share data __________ human intervention.

without