test 2 lu

What are the characteristics of the NextGen SCM?

will be proactive, predictive, and prescriptive. • It will be tightly connected to data sources such as social opinion and IoT outputs and will allow close collaboration with suppliers and customers through cloud-based commerce networks that offer a high level of security.

What are the capabilities of SharePoint

• Intranet and extranet • Documents: SharePoint provides a shared space to store documents • Collaboration and BI

Explain the three types of changes needed when an enterprise system is implemented

1. Changes in how people perform their jobs 2. Redesign of business processes 3. Integration of many types of uncoupled legacy systems

How do heat maps and tag clouds convey information

A heat map is like a spreadsheet whose cells are formatted with colors instead of numbers. Tag clouds use data, typically from unstructured content, and represent the relative frequency of words and terms by their sizes

What is the purpose of an API? Provide an example of how a business might make use of an API

APIs simplify how developers integrate new application components into an existing architecture, they help business and IT teams collaborate

Each of the following is a basic functional area that is supported by information systems: manufacturing and production, ________, finance, sales and marketing, and HR. a.Administrative b.Accounting c.Quality control d.Organizational

B

Implementing an enterprise system is challenging because it requires extensive organizational changes. Which of the following is not one of the required changes? a.Redesign of business processes b.Hiring many IT staff skilled in the latest technologies c.Changes in how people perform their jobs d.Integration of many types of uncoupled legacy systems

B

Which of the following is the most complex level of data analytics? a. Predictive b. Prescriptive c. Bounded d. Descriptive

B

Identify five activities that are central to financial planning and budgeting

Budgeting• Forecasting• Financial ratio analysis• Profitability analysis• Cost control

What is BI and why is it important in an organization?

Business intelligence can help companies make better decisions by showing present and historical data within their business context

Why is data mining valuable to organizations

Businesses that utilize data mining are able to have a competitive advantage, better understanding of their customers, good oversight of business operations, improved customer acquisition, and new business opportunities

How does text mining provide value

By transforming data into information that machines can understand

. _______ is a subset of machine learning and artificial intelligence that employs artificial neural networks. These artificial neural networks are computer algorithms that loosely replicate the function of neurons in the human brain and are capable of learning from large, structured and unstructured data sets. a.Quick response (QR) b.Computer Vision (CV) c.Deep Learning d.Sensor Fusion

C

Retaining customers that generate revenues in excess of the costs of customer service, returns, promotional items, and the like are critical; and are the underlying reason for __________.

C

Which is not a characteristic of Web 2.0? a. User-controlled content b. Dynamic pages, XML, and Java c. Marketing goal: influence d. Data: multiple sources, e.g., mashups

C

Discuss how CRM impacts customer acquisition and retention.

CRM technologies help marketing managers run effective campaigns, promotions, commercials, and advertisements to attract new customers, or to increase sales to existing customers, or to do both. o Newly acquired customers are unprofitable until they have purchased enough products or services to exceed the cost to acquire and service them.o Some customers can be unprofitable so it's important to determine each customer lifetime value (CLV). o Retaining customers that generate revenues in excess of the costs is critical

Before implementing a content-based recommendation engine, what kind of information would website operators need to collect about their products

Content-based filtering recommends products based on the product features of items the customer has interacted with in the past and the similarity to other products' features.

Functional business units are also known as functional ______. a.processes b.system c.controls d.silos

D

Traditional retailers have all of these advantages over online retailers EXCEPT: a.Empowered employees b.Critical "node" in the supply chain c.Optimize shopping history data d.Deep learning and showrooming

D

______ tools attempt to extract words from questions like "How many countries are there in Europe?" and create a semantic representation of the query. a.Concept search b.Ontology-based search c.Faceted search d.Natural language search

D

_______ is scientific algorithms that identify patterns in big data to learn from the data and create insights based on the data. a. Rules-based learning b. Linear regression c. Trended computing d. Machine learning

D

Name the three data properties that an IS must have

Data security, Data validity, Data integrity

What is the relationship between data quality and the value of analytics

Dirty data degrade the value of analytics. The "cleanliness" of data is very important to data mining and analysis projects

List two sales and distribution channels.

Distributing products and services to customers• Order tracking • Online and mobile order processing• Online and mobile payment methods

What are the three benefits of mashup technology to the organization

Enterprise mashups improve operational efficiency, optimize the sales pipeline, enhance customer satisfaction, and drive profitability

Why are companies increasingly interested in enterprise search tools capable of handling unstructured data

Enterprise search is the way that businesses can retrieve data, both structured and unstructured, within the company. It is beneficial because it enables users to easily access organized information

What are the basic functions of an ESP

Enterprise social platform is a private, company-owned social media software app that promotes social connectivity and collaboration with an organization and enhances productivity and employee satisfaction

Why does the SEC mandate data disclosure, whereby data items are tagged to make them easily searchable?

Generate cleaner data, including written explanations and supporting notes.• Produce more accurate data with fewer errors that require follow-up by regulators.• Transmit data more quickly to regulators and meet deadlines.• Increase the number of cases and amount of information that staffers can handle

What are the five major reasons organizations migrate to enterprise systems

High maintenance costs o Inflexibility o Integration obstacles (Hardwired, predefined, process flows) o Lack of staff (qualified/trained professionals) o Cloud-based enterprise systems are lower in cost

Why are human expertise and judgment important to data analytics

Human expertise and judgment are needed to interpret the output of analytics. Data are worthless if you cannot analyze, interpret, understand, and apply the results in context.

What is a recommendation engine called that combines different methodologies to create recommendations? What are three ways these systems combine methodologies?

Hybrid recommendation engines develop recommendations based on some combination of the methodologies described (content-based filtering, collaboration filtering, knowledge-based, and demographic systems).Weighted hybrid: Results from different recommenders are assigned a weight and combined numerically to determine a final set of recommendations. Relative weights are determined by system tests to identify the levels that produce the best recommendations.Mixed hybrid: Results from different recommenders are presented alongside of each other.Cascade hybrid: Recommenders are assigned a rank or priority. If a tie occurs (with two products assigned the same recommendation value), results from the lower-ranked systems are used to break ties from the higher-ranked systems.Compound hybrid: This approach combines results from two recommender systems from the same technique category (e.g., two collaborative filters), but uses different algorithms or calculation procedures.

What are the four phases of decision-making

Intelligence Phase. Design Phase. Choice Phase. Implementation Phase.

What are the four limitations or challenges that recommendation systems sometimes face

Lack of Data · 2. Changing Data · 3. Changing User Preferences · 4. Unpredictable Items

What are some examples of user information required by recommendation engines that use collaborative filtering?

Many collaborative filtering systems use purchase history to identify similarities between customers. In principle, however, any customer characteristic that improves the quality of recommendations could be used, such as patterns of consumer behavior, interests, ratings, reviews, social media contacts and conversations, media use, financial information, and so on.

What are some ways in which traditional brick-and-mortar retailers can use mobile technology to enhance a customer's in-store shopping experience

Mobile coupons, location mapping, and express checkout are just a few of the ways that mobile apps can improve the customer service level you offer in brick and mortar stores.

What are the top innovative digital technologies impacting SCM?

Mobility and M2M technologies can improve responsiveness and customer service by providing supply chain workers with the information they need —whenever and wherever they need it

How do metadata tags facilitate more accurate search results?

Much of the world's digital information is stored in files structured so that they can only be read by the programs that created them. With metadata, the content of these files can be labeled with tags describing the nature of the information, where it came from, or how it is arranged, essentially making the Web one large database that can be read and used by a wide variety of applications.The semantic Web will make it possible to access information about real things (people, places, contracts, books, chemicals, etc.) without worrying about the details associated with the nature or structure of the data files, pages, and databases where these things are described or contained (Hendler and Berners-Lee, 2010).

Besides e-commerce websites that sell products, what are some other ways that recommendation engines are being used on the Web today

Netflix does recommendations of movies for customers similar to movies they already have watched.Pandora creates recommendations or playlists based on song attributes

Explain the four critical success factors for CRM.

People, technology, Processes, strategy

Describe profitability analysis

Profit contribution or profit margin of certain products and services derived from the cost accounting system

How is a recommendation engine different from a search engine

Recommendation systems make suggestions related to search history, customer profiles and inventory metadata. In short, while search engines help users find what they want, recommendation systems help users find more of what they like or relevant alternatives

Define the five traditional functional business units

Sales & Marketing, Accounting, manufacturing production, Finance, Human resources

What is the primary difference between a Web directory and a crawler-based search engine

Search engines have indices that are built up by robots or crawlers; whereas Web directories build up their indices through human editors

Define what an SOP is and give an example

Standard operating procedures (SOPs) is a set of written instructions on how to perform a function or activity. SOPs provide the framework for complex processes to be managed more effectively

What is a supply chain

Starts with the acquisition of raw materials or the procurement (purchase) of products and proceeds through manufacture, transport, and delivery—and the disposal of recycling products

Briefly describe the three evolutionary stages of the Internet?

The first stage was Web 1.0 (The Initial Web) - A Web of Pages. Pages or documents are "hyperlinked," making it easier than ever before to access connected information. The second stage was Web 2.0 (The Social Web) - A Web of Applications. Applications are created that allow people to easily create, share, and organize information. The third stage is Web 3.0 (The Semantic Web) - A Web of Data. Information within documents or pages is tagged with metadata, allowing users to access specific information across platforms, regardless of the original structure of the fi le, page, or document that contains it. It turns the Web into one giant database.

Explain why the mobile gaming market represents such a lucrative market opportunity for advertisers

The in-app environment has many of the same benefits as in-game ads: low-risk performance pricing, lower CACs, and fewer competitors. In-app remains a strong choice for marketers looking to boost brand awareness, acquire new customers, and increase revenue.

How are companies using QR codes to promote products and services to mobile consumers? Why are QR codes not as popular in the United States as they are in Asia and other parts of the world

They put them on products or menus so that customers can scan and receive extra information. Experts believe that QR codes are not popular in the US because people do not need to use them and the info provided at the link does not prove to be important enough for people to engage with.

What are benefits of dashboards

Total Visibility into Your Business. ... Big Time Savings. ... Improved Results. ... Reduced Stress. ... Increased Productivity. ... Increased Profits

Describe three different real-time search tools

Twitter, Flickr, YouTube and similar services

Why do you think dashboards must be in real time and customized for the executive or manager

Using a custom dashboard, each division of your company can monitor the metrics relevant to their department

What are the most common security risks associated with mobile banking

Using a fraudulent communication, such as an e-mail, to trick the receiver into divulging critical information such as account numbers, passwords, or other identifying information

What are the four Vs of big data

Volume, Velocity, Variety and Veracity

How has Web 2.0 changed the behavior of Internet users

Web 2.0 pushes computing power off the desktop and onto the Internet, which means less time and money spent on PC software administration

What is machine learning and why do organizations use it

a technology that helps businesses effectively gain insights from raw data

Why would a business want to create a private SNS? What are some of the challenges associated with doing this

allow a greater degree of control over the network (can monitor what is being said about them); Managing a private SNS requires considerably more time, attention, and resources than maintaining a presence on a general SNS

How are predictive analytics adding value in organizations

allows organizations to project the outcomes of current market conditions and business initiatives so leaders can make informed decisions.

Explain why omnichannel retailing provides a better shopping experience for consumers

allows retailers to achieve more availability, drive sales and traffic, and integrate digital touchpoints. An omnichannel retail strategy improves the customer experience and provides more channels for customer purchase--whether it is on mobile, web, or in stores

How does data visualization contribute to organizational learning

data into an easy-to-understand visual representation, it also allows for employees to save time and work more efficiently. In a way, data visualization also allows organizations to democratize data for everyone within an organization

What is prescriptive analytics

is the process of using data to determine an optimal course of action.

Explain the purpose of an enterprise system

large scale application software packages that supports business processes, information flows, reporting, and data analytics in complex organizations

What are the top two strategic priorities of SCM executives?

supply chain analytics and multichannel fulfillment

What are the two major barriers preventing innovation in the supply chain?

talent shortage and a continuing focus on cost reduction.

List and describe the three main flows being managed in a supply chain

the product flow, the information flow, and the finances flow

What is predictive analytics

the use of statistics and modeling techniques to determine future performance based on current and historical data

What are the two basic technologies used for mobile banking and financial services

using a mobile device for the online purchase of goods and services (e.g., ordering a book from Amazon.com), and for payment of goods and services in a traditional brick-and-mortar store.