exam 2 mis
internet protocol
(IP) specific software used by the Internet to communicate. An IP address is a number assigned to all connection devices.
Internet Service Provider (ISP)
(ISP) provides IP address, access to the resources on the Internet and ISP pays for access to the Internet (money is collected, portion of it is paid to access to Internet) common methods for connecting to Internet: wired and wireless LANs Wired LANs connect via fiber optic cable/Ethernet...wireless access incl. access points that transform wired LANs to wireless ones THREE important functions 1. provides IP address 2. Provides access or a gateway to the resources on the Internet 3.pays for access to Internet
Internet of Things (IoT)
(IoT) combines connected devices with automated systems that gather data, analyze the data, and convert the data into usable information...allows billions of devices to be connected to internet apple watch, smart fridge, driverless vehicles, heating+cooling systems, smart cities
cloud computing characteristics 5 from Nat INstit of Standards and Tech
-on-demand self-service: consumer can unilaterally provision computing capabilities, such as server time and network storage, as needed automatically w/out req human interaction w/service provider Broad Network access: capabilities avail over network access and accessed through stndrd mechanisms that promote use by heterogenous think/thick platforms (mobile phones, tablets, laptops, work stations) Resource pooling: provider's computing resources pooled to serve mult consumers using a multi-tenant model...w/diff phys and virt resources dynamically assigned according to consumer demand Rapid Elasticity: can be elastically provisioned and released (automatically) to scale rapidly outward and inward with demand measured service: automatically control and optimize resource use by leveraging a metering capability at some level of abstraction apropriate to the type of service
Gartner IT Services company predicts that by 2021, customer relationship management systems will be the single largest revenue area of spending in Multiple Choice market segmentation. corporate social media. inventory control .enterprise software.
.enterprise software.
Steps of proper communication over internet
1. assemble data packet 2.correct domain name identified 3. look up IP address, DNS used to simplify 4. IP address added to packet 5.TCP ensures delivery 6. message is sent/shipped using a variety of diff carriers (ISPs) "hop" or move from one network to another
4 factors to consider in customer segmentation
1. integration-cust seg software shld be able to efficiently link data from variety of sources 2. data collection and analytical tools: data access, ease of use, and ease of data interpretations 3. flex/scalability-work well in current environment, but scalable for growth 4.cost-shld provide enough info w/out spending more money than is needed to accomplish desired results
Select the potential applications/benefits of 5G networks. More than one answer may be selected. 5G connectivity will greatly improve what businesses and individuals can do with connected devices. 5G networks may eventually allow for autonomous vehicles to safely interact with each other and their environment. 5G connectivity has the potential to create truly connected cities. 5G connectivity will allow for faster communications, even faster than fiber optic connections.
5G connectivity will greatly improve what businesses and individuals can do with connected devices. 5G networks may eventually allow for autonomous vehicles to safely interact with each other and their environment. 5G connectivity has the potential to create truly connected cities.
According to Harvard Business School professor Clayton Christensen, there are over 30,000 new products introduced every year, and % of these products fail.
95
Which of the following are true statements about cryptocurrencies? More than one answer may be selected. A cryptocurrency only exists on a computer. You can create new cryptocurrency using a process called mining. Cryptocurrencies are controlled by the World Bank rather than countries. A financial institution is needed to transfer cryptocurrencies.
A cryptocurrency only exists on a computer. You can create new cryptocurrency using a process called mining.
Benefits of Collaboration Software
Better Communication: People from across the organization, regardless of their physical location, can share content in real-time including documents, spreadsheets, videos, and messages. Project Management Capabilities: Collaboration software allows project leads the ability to create the plan and schedule and share this with all members of the team. Improved Engagement:Engaging remote employees can be a challenge. Collaboration software helps to create engagement by allowing remote and organization-based employees the ability to exchange and interact. Streamlined Workflow:Scheduling activities can easily be added and updated in the software. Remote team members are actively engaged in workflow, duties, and processes due to the real-time nature of the software.
Created in 2008, BLANK remains the most widely traded and respected cryptocurrency. No one truly knows who created it, but the creator of the cryptocurrency goes by the pseudonym Satoshi Nakamoto.
Bitcoin
Common methods to connect a LAN to the Internet include which of the following? Multiple select question. Fiber optic cables Satellite signals Coaxial cables Ethernet cables
CABLES!!! Fiber optic cables Coaxial cables Ethernet cables
Which of the following statements about how CRM systems assist businesses in targeting a market segment are true? Multiple select question. CRM systems are used to collect data from customer transactions. This data is used for target market identification. CRM systems provide a variety of analytical tools, including those used to identify and understand the target market.* While CRM software is useful, target market identification is relatively simple to conduct without it. Reason: Organizations must precisely identify their target markets so they best utilize resources when marketing to potential and existing customers.*
CRM systems are used to collect data from customer transactions. This data is used for target market identification. CRM systems provide a variety of analytical tools, including those used to identify and understand the target market.* Organizations must precisely identify their target markets so they best utilize resources when marketing to potential and existing customers.*
Which of the following statements about CRM systems use in customer acquisition are true? Customers can be acquired using a number of approaches including social media, search, affiliate, referral, and email marketing. * CRM software supports businesses in identifying all prospective leads. Organizations often track customer acquisition using a lead generation funnel CRM software systems track prospective customers (and current customers) through the various stages of the funnel
Customers can be acquired using a number of approaches including social media, search, affiliate, referral, and email marketing. * Organizations often track customer acquisition using a lead generation funnel CRM software systems track prospective customers (and current customers) through the various stages of the funnel
Risks of storing cust data:
Data Breach!! in the first half of 2020, Risk Based Secuirty reported 2037 breaches to prevent:firewalls, proper crm administration (staff who interact), consistent crm software updates
Select what's true about how businesses use CRM systems to develop relationships with customers. Multiple select question. Data collected by CRM systems includes customers' likes and dislikes, what content they engage with, and what they post about competitors.* Information from CRM systems can be efficiently and intelligently used to make informed business decisions and to develop relationships with their customers. CRM systems provide organizations a clear overview of their customers. CRM is a type of enterprise system that is expected to decline in use due to the lack of customer interaction tools.
Data collected by CRM systems includes customers' likes and dislikes, what content they engage with, and what they post about competitors.* Information from CRM systems can be efficiently and intelligently used to make informed business decisions and to develop relationships with their customers. CRM systems provide organizations a clear overview of their customers.
Which privacy law governs the transfer of personal data outside of the geographic location the law was written in? Multiple Choice the Gramm Leach Bliley Act Section 5 of the Federal Trade Commission California Consumer Privacy Act Europe's General Data Protection Regulation
Europe's General Data Protection Regulation
T or F Digital currencies that only exist on computers and are transferred between peers without an intermediary such as a bank are called digicurrencies. Group starts
F
Cambridge Analytica scandal
Facebook; the firm paid Facebook to acquire its users' personal data. It is estimated that over 87 million people were affected by this activity. (third parties)
T Or F: A global positioning system is focused on the capture, analysis, use, and management of spatial location information. It integrates different types of data to create visualizations using maps and 3D scenes.
False...GIS
various components of WWW:
Hypertext transfer protocol (HTTP): protocol for transmission of hypermedia docs (such as html) and was designed for comms btwn web browsers and servers, governs tranfer of data betwn client + server computer Uniform Resource locator (URL): type of URI (generic term for all types of names/addresses that refer to objects + content on web) but URL is address of doc or other content or resource found on web Hypertext Markup Lang (HTML): commonlu used format for publishing web docs and content, hyperlinks to link or connect various resources on web...words, phrases, or images user can click on to move to a new page or doc
IP Address formats
IPv4: 4 decimal notation (182.124.7.9), 4 billion addresses IPV6: now being adopted...uses crazy format...accommodates 340 undecillion addresses
key features of Web 2.0
Interactivity: content that is dynamic and responsive to user input...user can click image and find out more info Folksonomy: user collectively determines the classification of info. Example, tagging of websites, images, videos, links User Participation: two-way info flow btwn sites and site users vis eval, reviews, + online commenting...ex Yelping fav restaurant Software as a Service: Web 2.0 sites developed application programming interfaces (APIs) that serve a sinterface btwn diff parts of a computer software program to allow automated usage (mashup sites)
OLAP (online analytical processing)
KEY ADVANCED tech behind many BI applications, used for data discovery and analysis including predictive what-if analysis, report gen, and forecasting
Select the true statements about sending information on the Internet. Modems and routers are connected to the Internet via an Internet Service Provider (ISP). Internet Service Providers (ISPs) are not needed to bridge communications between devices on the Internet. Devices connect to the Internet or a network using network cables or wireless technologies. Each device connecting to the Internet or a network must have a network interface card (NIC) installed.
Modems and routers are connected to the Internet via an Internet Service Provider (ISP). Devices connect to the Internet or a network using network cables or wireless technologies Each device connecting to the Internet or a network must have a network interface card (NIC) installed.
Select what is true about computer networks. More than one answer may be selected. Multiple select question Networks range in size from small home networks to the Internet, which is the world's largest network Only selected types of computer networks can be linked together and supported by the Internet A network is a group of two or more devices/computers connected together Computer networks support many different software applications
Networks range in size from small home networks to the Internet, which is the world's largest network A network is a group of two or more devices/computers connected together Computer networks support many different software applications
sales qualified leads
S for solidified for sales a lead that has been qualified and is ready to make a purch
most widely used CRM platform?
Salesforce.com provides variety of analytical tools (monitor, track, trend analysis of cust aqusit) 58% of marketers track cust acquisition rates
T OR F According to research by Risk Based security, there were 2037 publicly reported data breaches in the first half of 2020.
T
What is occurring when a call placed on a cellular network is "dropped?" More than one answer may be correct. The call was unable to be relayed from the tower it initially connected with to a network of other cell towers. The mobile switching station that your phone connected to was unable to maintain a connection with the mobile switching station of the person you're calling. .Analog sound waves were unable to be converted to a digital signal. .The mobile phone was unable to convert a person's voice to an electrical signal. Correct
The call was unable to be relayed from the tower it initially connected with to a network of other cell towers. The mobile switching station that your phone connected to was unable to maintain a connection with the mobile switching station of the person you're calling.
Select all of the characteristics of that explain how the Internet works. The connections points in the Internet are called nodes. Data on the Internet is usually stored on specialized computers called servers. Data is transferred from one network to another network through hardware called routers. Information sent over the Internet is transferred in small groupings called segments.
The connections points in the Internet are called nodes. Data on the Internet is usually stored on specialized computers called servers. Data is transferred from one network to another network through hardware called routers.
Europe's General Data Protection Regulation (GDPR)
This governs data protection and privacy in the European Union and European Economic Area. Additionally, it governs the transfer of personal data outside the European Union.
T or F To communicate, or send/receive information, on the Internet, both the sending and receiving devices must follow the TCP/IP system of rules for communicating with each other.
True
Gramm-Leach-Bliley Act
US law that governs personal info collected by financial institutions
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
network
a group of two or more devices or computers connected together for the exchange of information and for the sharing of resources. range small home networks to the Internet (world's largest internet); may support many diff software apps and services...allow access to World Wide Web, digital vid/audio, storage, application servers, email +more 4 basic types of networks: PAN, LAN, WAN, internets
Internet Protocol (IP) address
a number assigned to all info tech connection devices (router, modem) that identifies the device and allows it the ability to communicate w/other devices on a computer network, including the Internet...like home address can be assigned permanently..static addresses--used for email server, businesses, permanent home addresses + more OR dynamic--comes from pool of avail IP addresses that are assigned by your ISP each time you connect to Internet
Which of the four criteria is occurring when a network confirms that a transaction has not yet occurred on the blockchain? Multiple Choice a transaction is stored a transaction is verified a transaction occurs a hash is added to the block
a transaction is verified
internet backbone
a vast complex of hardware connected by large fiber optic bundles.
From the following list, select ways in which CRM systems are used for customer acquisition. Check All That Apply acquiring customers using social media, search, affiliate, referral, and email marketing tracking customer acquisition using a lead generation tracking prospective and current customers through all stages of the funnel serving as the sole means of identifying all prospective leads
acquiring customers using social media, search, affiliate, referral, and email marketing tracking customer acquisition using a lead generation tracking prospective and current customers through all stages of the funnel
descriptive data
addtional demographic data ab cust (family status, lifestyle, education, career)
identity data
aka demographic data...customer's name, address, genfer, dob, phone #, email
Share of Customer (Wallet)
aka share of wallet: focuses on getting as much business as possible from fewer customers... bc it costs less $ to retain existing cust than to acquire new
Domain Name System (DNS)
allows IP addresses to be translated into recognizable words that are much easier to remember, aka 64.233....is actually google.com
cloud service providers
amazon kamatera Salesforce Google
crm systems
assist in the management of the critical relationships orgs have developed w/their cust ultimatley inc sales, attract, maintain cust engagement + relationships used to track purchases and record purch info through various stages of the funnel helps org identify who is MQL vs SQL
Geographic Information Systems (GISs)
built on the foundation provided by the Global Positioning System (GPS)!..capture, analysis, use, and mgmt of spatial loc info permits orgs and users to store, view, and analyze geographic data in the form of multidimensional charts + maps, allows for the analysis of spatial data (identifies geographic features found on Earth), ....incl geospatial data and geographic info, used for more informed decision making traditionally for mapping and cartography
Manufacturers of computers and other electronic devices follow the IEEE 802.3 protocol to ensure that their products....
can be used to create a standard ethernet connection.
Wide area network (WAN)
connects a avriety of devices between 2 or more geographic locations ex...connecting POS devices in retail stores in two diff geographic locations is a WAN facilitates comms and sharing of info across cities, countries, the globe used by large org to facilitate data/info exchange across mult locations provided by WAN vendors: Cisco Systems and VMware (assist setup, execution, and software)
Local area network (LAN)
connects a variety of devices at a a single site such as an office or retail store usually no more than half a mile, all devices housed at a location controlled by org responsible for the LAN devices connected by bluetooth or wifi..Institute for Electrical + Electronics Engineers creates and publishes protocols that support LANS..always start w/802!!!!
Personal area network (PAN)
connects devices located around an individ device; laptops, tablets, smartphones...when you share smartphone's Internet connection to other devices, such as tablet, you create a PAN
Instant messaging + chat
conversations based on Internet
businesses use CRM analytics for:
cust seg: grouped into homogenous segments where behavior can more easily be analyzed. cust value + profitability: Identification of which customers create the highest revenue is made. personalization:Customized marketing is created based on individual customer behavior. predictive modeling: Prior information is used to assist in the determination of the success or failure of future endeavors.
From the following options, select three sources of information that a CRM system uses to collect data about current customers. Check All That Apply customer surveys social media monitoring procurement methods smartphones
customer surveys social media monitoring procurement methods
Electronic funds transfer (EFT)
digitized bank transactions
World Wide Web
display, format, retrieve data (WWW or web)...interconnected system of web pages accessible through Internet...one of many apps supported by internet (Tim Berners-Lee)
cloud comput limitations
downtimes secuirty limited control: owned managed controlled by service prov vendor agreements: make switiching btwn servies difficult
cloud computing benefits
est. that 70% of global business and 93% small back up some portion of data using Cloud...96% of all US orgs use cloud in some way 1. Flexibility: access of data, files, and prgrms off-site via web-enabled devices 2. cost savings: reduces IT expenditures and hard disc space 3. collaboration: enables orgs to communicate and share data more efficiently, mult users can share and work on files at same time 4. disaster recovery: makes data backup and recovery easier bc crit data is stored offsite at mult loc
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 makes it unnecessary to purchase additional demographic or other data. facilitates using the company's own, collected data about customers. is easily replaced when the company grows and needs larger databases. tells users what characteristics should be used to segment their market.
facilitates using the company's own, collected data about customers.
qualitative data
feelings about QUALITY of prod cust's feelings/reasoning about prod/serv. attitufes (ratings + perceived value), opinions, and motivation (reasons for purch) (not categorized=NOMINAL) (categorized, ranked for ex=ORDINAL)
file sharing and messaging
file transfer protocol (FTP)
file transfer btwn computers
content delivery network (CDN)
geographically distributed network server groups that work together to deliver web content to users...more efficient delivery of Internet and web content (closer CDN is to user=faster) cache=storage loc where active data is placed to make it easier to access...CDN sotres cached version of conent in mult geographic loc (called points of presence PoPs) if website is cached but actual site is updated, user may see older version bc not updated continuously
target market
group of existing and potential customers than an org believes they can sell their prod to (geographic location,demographic, psychographic) online and traditional media strategies used by crm systems--identify where cust are located, what they buy, how often they buy, purpose of purchase...all to create ideal profile that identifies highest rev cust
In blockchain, transaction data is stored in blocks. Each block in the blockchain contains ________, which helps create secure transactions. More than one answer may be selected.
hash digital fingerprint unique identifier
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 that different users would receive different discount values if the app ensured that their targeting was not discriminatory based on race, ethnicity, gender, age, or disability if the app's terms of service indicated who they would be sharing information with and what information would be shared This scenario is never ethical.
if the app's terms of service indicated who they would be sharing information with and what information would be shared
packets
information sent over the Internet is transferred in these small groupings. sent by routers
Marketing Qualified Lead (MQL)
m for monkey..curious george...mqls are curious!; a lead (prospective cust) who has an identified interest in a brand or prod/serv offering (curious!) have intentionally engaged with a prod or service by performing actions (download content from site, re[eating visits to website, adding materials to online shopping cart)
From the following list, select all the vital functions of customer relationship management (CRM) systems for businesses. managing critical relationships helping synchronize customer interactions providing insights into customer satisfaction metrics creating accounting information
managing critical relationships helping synchronize customer interactions providing insights into customer satisfaction metrics
cust interaction strategies for crm system
monitor cust interactions-what emthods of comms are most engaging cust as individuals-record contact info, acct activity, purch history automation--gen automatic responses to cust interactions, scheduling tasks related to cust, and cust comms...less likely for tasks to be missed easier to maintain consistent comms customized communication--messages properly matched to cust..less wasted comms, more sincere comms, overall inc effectiveness
Internet (capital)
most familiar internet in the world and world's largest internet...allows for comm and exchange of many types of data and info; connection points called nodes
Customer Lifetime Value (CLV)
one of key metrics used to determine profitability of org's cust; the total amount an existing customer will spend on an organization's products or services over that customer's lifetime. used to determine how much org shld spend to acquire new cust versus how much to retain existing
over past 5 years, cost of acquiring a cust has increased by
over 50%...so use crm systems
What type of computer users are considered miners? Multiple Choice people who create new types of cryptocurrency people who work at financial institutions that act as an intermediary for cryptocurrency transactions people who validate cryptocurrency transactions on the digital ledgerCorrect people who make purchases using bitcoin
people who validate cryptocurrency transactions on the digital ledger
intranet
private internet used solely within an org and for use by people w/in org
cust aquisition
processes and strategies an org uses to obtain new cust (soc media, search, affiliate codes, referrals, email mktg)
California Consumer Privacy Act (CCPA)
provides consumers with the right to know what personal data are being collected about them and the option to say no to the sale of the information, assess correct delete info
GIS uses
proximity location: with a location specified, GIS finds targets within the defined area (gas stations, hospitals, and retail stores) route info: user has determined destination, GIS assists in providing directions Alerts: used to notify users of congestion/accidents on road..or if store is having sale Density Maps: map population densities based on standardized unit of measure (kilometers)...can assist decision making related to inc police presence or to the mapping of delivery routes Quantity maps: can provide info related to how many businesses are present in a certain geographic area, can help bus. make more informed decisions ab where to open new store
quantitative data
refers to how cust interactions w/the business: transact history, online activity, cust service history, in/outbound comms
Fair Credit Reporting Act
regulates gathering and use of credit reporting info
Research shows that qualified sales leads result in better close rates and a higher BLANK . This process can be difficult to execute without the assistance of CRM software.
return on investment
prospecting
searching and finding potential customers for a product or service; identify potent cust, designing effective mktg strat to reach them, converting from prospect to cust hubspot: 42% of sales prof rated sales prospecting hardest stage of sales process
examples of collab software
smarsheet: online project mgmt software create web froms, sheets, alerts, have discussions Slack: replace email, channels where teams can communicate Trello: organizes projects into boards, visual representation fo what is being worked on
servers
specialized computers where data on the Internet is stored.
Transmission Control/INternet Protocol (TCP/IP)
suite of comms protocols used to connect devices to Internet; can be used as private network comms protocol for priv networks including intra/extranets specifies how data/info are exchanged over the Internet by identifying how it should be broken into packets, addressed, transmitted, routed, and received @ intended destination 4 distinct layers (suite of protocols): 1.Datalink (Network Access Layer)--handles physical parts of sending + receiving data, can be sent via wireless networks, ethernet cable, network interface cards etc 2. Internet--controls movement of packets throughout network 3. Transport--controls movement of packets throughout network 4. Application--group of applications that req network communication and are used by people to facilitate comms. email + messaging apps
each network connected to Internet uses communication media..examples
television (coax) cable, fiber optic cable, telephone lines (DSL), cellular signals, satellite (microwave) signals
the federal trade commission section 5
the govt has authority to prevent unfair/deceptive trade practices, and FTC has ability to take legal action against org that fail to implement/maintain reasonable data security measures, fail to publish and follow privacy policy, and to provide security for personal data stored by the org
customer acquisition rates
the monitoring, tracking, and trend analysis of customer acquisition. allows org to see how effective their marketing efforts are leading to actual sales
Web 3.0
the next evolution in the web and will include many features and tools to allow better use of webpages, smartphone apps, and IoT...more widespread use of Cloud computing and SaaS in business, ubiquitous computing (everywhere at same time) 3D graphics, and AI will also be supported
5G networks
the next generation of mobile connectivity which provide faster data transfer speeds and enhanced connection reliability. Benefits: -faster connection/data transfer speeds: will support 500mbps to 10Gbps of donwl speed, which vary by loc +carrier, top end, it is more than 100x speed of 4G -greater capacity: allows for more high-demand devices to connect over a single network (more people can transmit data @ same time) -lower latency: lag time dec, reduces 4G latency by 75%
market segmentation
the process of dividing a market of both potential and existing customers into segments based on a variety of characteristics. groups share common traits, interest, needs, wants, and geographic location grouped into homogenous segments where behavior can more easily be analyzed. according to salesforce segmented mktg campaigns led to 760% inc in rev
Web 2.0
the second-generation Internet, based on interactivity and dynamic content...allows people to collab and share info online (insta, snap youtube) key features...interactivity, folksonomy, user particip, and software as a service
routers
transferred data from one network to another through this hardware. sends packet via fastest route possible moment it has been transmitted
cellular phone communication
two-way radio consisting of a transmitter and receiver base transceiver station (radio base):connected to cell tower, creates the cells by broadcasting low microwave signals mobile switching: controls transmissions btwn cellular phone towers and their base transceiver, connects calls with the mobile switch stat of person u called analog digital converter: allow smartphones to receive analog soundwave, such as person's voice, convert it to digital signal that can be processed and store in computer "sampling" digital sound processor: small ocmputer w/in phone that analyzes sounds entering phone thru analog digital converter, reduces unwnated noise, moderates speech vol, buffers signals to enhance phone qual
customer equity (CE)
value that the future lifetime revenue an org's cust will generate minus acquisition cots and cust retention costs can be individ or collective higher CE often has higher rev and is valued higher (Apple)
lead generation funnel
ways org can track cust aquisit. 1st: gain cust interest with marketing activities 2nd: org attempts to gain interest about prod/service 3rd:desire, crm software+analytics create the need, want, or desire to purchase said prod or service 4th:action, aka purchase, cust pays for prod or service
internet (lowercase)
when computer networks are linked together connects LANs, WANs, and other internets together
IEEE protocol 802.3 (LAN)
wired LAN connections (Ethernet), specifies hardware characteristics an how messages are packaged and processed for wire-based transmission over a LAN
sales prospecting crm systems ex
zoominfo (B2B) LinkedIn Sales Navigator-630 mil connections Clearbit Prospector database of 200 mil contacts
