BIS Exam two

Which of the following is an example of data that would best be conveyed using data visualization to help a manager make a decision?

A manager at a startup wants to decide which city to target based on the percentage of a city's citizens that do not have at home internet access but do have a smartphone. The company has this information for the citizens of 15 similar-sized cities.

Of the following software packages integrated into an enterprise resource planning system, which one is used by engineers in the design process?

CAD software

Which stage of the project management process involves documenting the lessons learned during the project's execution?

Closure Stage

What is used to convey meaning from Big Data Analytics to managers who need to make decisions based on this data?

Data Visualization

What typically happens during Step 3 of business process management just before the execution process is fully automated?

Decision makers compare engine output to previous business activity.Correct

Which privacy law governs the transfer of personal data outside of the geographic location the law was written in?

Europe's General Data Protection Regulation

Cloud-based ERP solutions are usually offered as

SaaS

Which privacy law gives the government authority to prevent unfair or deceptive trade practices?

Section 5 of the Federal Trade Commission

Integrating a business software module into an ERP has several advantages. Which of the following business software modules includes customer payment information?

TPS software

A company is trying to determine why users are deleting or no longer engaging with their app on a regular basis. Which of the below is an example of how the company could use CRM to make this determination?

The company could use CRM to determine what part of the app users who deleted it were in right before the app was deleted.

How do businesses ultimately benefit from using a CRM to identify the highest revenue customers in a target market, before developing a marketing campaign?

They save time and money by targeting this precise segment of the market.

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

Troy has a customized business management system that he likes. However, it cannot easily scale up to meet his growing database storage needs, offers poor protection from hackers, and requires maintaining a large IT department. Troy should replace this system with

a custom, cloud-based solution (PaaS or IaaS).

Which type of business management system is best described as an "off-the-shelf" (OTS) or prepackaged system?

a software as a service (SaaS) system

How is quantitative data about a customer most accurately characterized?

as a record of how a customer interacts with a business

What is the MOST direct way in which customer relationship management (CRM) systems can help businesses increase their sales?

by helping them identify and attract prospective customers

Share of wallet is also known as share of

customer

What is one of the greatest risks of an organization storing customer data?

data breaches

A business management system includes three main components: a decision-making information system, a predictive information system, and a

database management system.

If a customer segmentation tool supports integration, what is it able to do?

efficiently link data from various sources and platforms

Payscale.com, Payfactors.com, and Salary.com are sites that offer

employee compensation management solutions.

Human resource management systems are invaluable to HR managers who lack legal expertise because the systems

ensure that HR actions comply with governmental regulations.

One of the benefits of using a CRM system is that data can be analyzed and provided to assist in measuring the value that the future lifetime revenue an organization's customers will generate minus customer acquisition costs and customer retention costs. This value is referred to as customer

equity.

What must be integrated into an organization's enterprise resource management solution to allow it to create and maintain regulatory and compliance information from a centralized location?

financial management systems software

While ERP systems offer many competitive advantages to users, particularly those in upper management, a significant disadvantage is their

high costs.

Because some tasks can be done concurrently while other tasks are dependent upon the completion of preceding tasks, Gantt charts are constructed using a

horizontal bar chart.

What is the overarching goal of organizations choosing to adopt an enterprise resource planning (ERP) system?

increase operational efficiency

The ultimate purpose of a customer relationship management system (CRM) is to

increase sales, market share, and profit.

Descriptive data about a customer includes categories such as

lifestyle and career.

The project management (PM) process has four phases. What is the second phase of the process?

planning phase

The first step in business process management, in which analysts often "storyboard" the processes in an attempt to view the entire system prior to investigating each component is called

process design.

The third step in business process management provides managers the ability to play the "what-if" game by changing input variables (abstract) decision making. This step is called

process execution.

The second step of business process management (BPM) involves the use of flowcharts and other tools to examine decision points and inputs. This step is called

process modeling.

Which type of software helps HR managers calculate an organization's future workforce needs by taking many different variables into account?

recruiting and hiring software

Hubspot CRM, Zoho CRM, and Freshsales CRM are designed to meet the needs of

smaller businesses.

Decision-making management information systems are necessary because

the amount of information available far exceeds any manager's ability to use it.

To calculate an organization's customer equity (CE) value we first determine

the future lifetime revenue the organization's customers will generate.Correct

What are Big Data Analytics?

the technology and processes used to gain intelligent, usable information from applicable databases across the internet

Share of customer, which focuses on getting as much business as possible from fewer customers, is also known as share of

wallet.