BCIS 1305 - Ch1 - Questions & Answers

These three generic business strategies for entering a new market are

(1) broad cost leadership, (2) broad differentiation, and (3) focused strategy.

What is a leadership plan that achieves a specific set of goals or objectives?

Business strategy

What is the confirmation or validation of an event or object?

Fact

Human-generated structured data is data that humans, in interaction with computers, generate. Which two sources of data are human-generated structured data?

Gaming data, Input data

Porter's three generic strategies

Generic business strategies that are neither organization nor industry specific and can be applied to any business, product, or service.

Porter's Five Forces Model analyzes the competitive forces within the environment in which a company operates to assess the potential for profitability in a(n) _________.

Industry

What is data converted into a meaningful and useful context?

Information

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 refers to devices that connect directly to other devices?

Machine to machine (M2M)

What evaluates an organization's strengths, weaknesses, opportunities, and threats to identify significant influences that work for or against business strategies?

SWOT analysis

What is a world where interconnected, Internet-enabled devices or "things" can collect and share data without human intervention?

The Internet of Things (IoT)

Select the group of items that can be determined using information.

The best-selling product, best customer, and worst-selling product (The best-selling product by month compared to sports season and city team wins and losses Reason: This is an example of business intelligence. The full list of products on shelves that are about to expire. Reason: This is an example of knowledge.)

True or false: Big data is a collection of large, complex data sets, including structured and unstructured data, which cannot be analyzed using traditional database methods and tools.

True

Select the question that can be answered using only raw data.

What is the date, amount sold, and customer number for a sale transaction?

Select 3 goals or objectives that a leadership plan might include to achieve a solid business strategy.

increasing sales, decreasing costs, attracting new customers

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

information

Which big data term describes the scale of data?

volume