CIS Final Exam
Data mining is leveraged by firms to determine which products customers buy together, and how an organization can use this information to cross-sell more products or services. This area of application of data mining is referred to as:
market basket analysis.
Heuristics can be explained as ___________.
mental shortcuts that allow people to solve problems and make judgments quickly and efficiently, at the cost of occasionally sending them off course
Users who edit Wikipedia content in a manner that is biased and opinionated are said to be violating Wikipedia's stated policy of:
neutral point of view.
A prediction market involves:
polling a diverse crowd and aggregating opinions to form a forecast of an eventual outcome.
The halo effect
"Sasha scores an 'A' on every one of her tests. I bet she could be a good student leader." This is an example of:
Emotional state
A person's _________ can affect the degree of influence of the halo effect.
Collaborative consumption can be described as:
A system that enables customers to obtain and provide resources via a platform
Operating at lower costs and having various pricing models or both
According to Porter's five forces model, __________ is most important to achieve a competitive advantage.
A Worm is a software that ___________.
Actively transmits itself over a network to infect other computers
The Halo Effect can be explained as ____________.
An effect in which an observer may tend to bend their judgement based on a specific characteristic
It depends on available information
An important aspect of the representativeness heuristic which distinguishes it from other decision-making heuristics is that _____
When dealing with children, Parents can handle the halo effect by:
Appreciating their children's' existing talents and encouraging development of new talents (Correct)
The top technology companies FAANG and BAT are focussing on implementing and incorporating various applications by embedding ____________ into all of their products.
Artificial Intelligence
_____ applications can overlay real data on top of images from a GPS and compass-equipped smart phone
Augmented reality
Cash Cow
Cash cow is business jargon for a business venture that generates a steady return of profits that far exceed the outlay of cash required to acquire or start it.
Which of the following is an example of a one-sided market?
Cell phone networks
Which of the following is not an example of the Halo effect?
Choosing a restaurant based on the reviews by food bloggers instead of choosing a place based on how beautiful its pictures look online
A system that enables customers to obtain and provide resources via a platform
Collaborative consumption can be described as:
Artificial Intelligence will impact Porter's five force framework. The framework that would experience its impact more slowly than others would be:
Competition in the industry
Which of the following factors prevents social networking sites from monetizing advertising effectively?
Content adjacency
A research scientist with a major pharmaceutical firm in New Jersey is caught passing on sensitive information, worth millions of dollars, regarding the composition and test results of his firm's latest drug to a rival company. What crime is he being held responsible for?
Corporate espionage
Building predictive analytics and clustering data into meaningful segments
Data mining can be defined as:
Network effects are characterized by a positive-feedback loop, where the biggest networks continue to grow bigger. What implication does this positive-feedback loop have on network markets?
Early, fierce competition between rivals
A person's _________ can affect the degree of influence of the halo effect.
Emotional state
Select one or more appropriate ways to prevent someone from hacking your computer.
Enter passwords after verifying the authenticity of a website Use 2-factor authentication Avoid rooting mobile devices
What can managers expect to learn from Facebook's feeds fiasco?
Firms should engage users on new initiatives and take steps to protect user privacy.
___________ occurs when the choice made by a person is affected by how the information about an item is presented.
Framing effect
In the global IT competition between the major platforms, the winning firms would be the ones with _____________ and _______________.
Great network effects; Good platform management
_________ hackers do technically commit crimes without causing damage by participating in unethical activities, whereas ___________ hackers find vulnerabilities and expose them to improve network security.
Grey hat, White hat
False
Having backward compatibility means entering a market where there is an install-base of zero and the entering firm gives up the switching costs incurred by prior customers.
mental shortcuts that allow people to solve problems and make judgments quickly and efficiently, at the cost of occasionally sending them off course
Heuristics can be explained as ___________.
Representativeness; Base rate
In a survey, students were given the base rate information that is either consistent or inconsistent with the 'typical doctor'. To decide whether a particular person is a doctor indeed, the students would tend to use information pertaining to the _________ and ignore the _________ information.
Great network effects; Good platform management
In the global IT competition between the major platforms, the winning firms would be the ones with _____________ and _______________.
Inventory Style
Information Security should start with ___________ auditing and risk management.
She has probably read up on the toxicity and adverse effects of consuming mushrooms
Jane believes that its mushrooms are more toxic to the human body as compared to peanuts. What would the availability heuristic tell us about Jane?
Unclean data
Limits to data mining includes which one of the following?
False
Most modern supercomputers use massive sets of microprocessors working independently.
A friend asks you to pick a coin from a box full of 1 cent, 10 cents and 25 cents coins and asks you the probability of picking a 10 cents coin. What information from the following would help you in avoiding the base rate fallacy and correctly determining the required probability?
Number of 1 cent, 10 cents and 25 cents coins in the box
_____________ is an important tool for understanding the forces that shape the competition within an industry.
Porter's five forces analysis
Which of the following statements is a valid reason for chip manufacturers to carry minimal inventory?
Products with a significant chip-based component rapidly fall in value and can cause huge losses when overproduced.
Which one of the following is NOT a good example of the framing effect?
Profit for the year 2018 decreasing by $2000
Many firms use _____ for managing information overload, opting to distribute content virally rather than via e-mail.
RSS feeds
Which amongst the following is an outcome of the modern social media platform?
SEO, Wikis, Social Engagement
Switching costs Network effects
Select all that apply. Facebook's key resources for competitive advantage are:
Geo location Geo Tagging
Select all that apply. ____________occurs when computer systems identify a user's physical location for the purpose of delivering tailored ads or other content.
Enter passwords after verifying the authenticity of a website Use 2-factor authentication Avoid rooting mobile devices
Select one or more appropriate ways to prevent someone from hacking your computer.
A chatbot
Select the one feature that is not a typical feature of a Social Network?
True
Social networks have supplanted the traditional employee directory with online profiles that provide for a living digital identity.
Which one of the following is NOT known as one of data's orientations?
Suggestive Analytics
a mental shortcut that relies on immediate examples that come to a given person's mind when evaluating a specific topic, concept, method or decision
The Availability heuristic can be described as ____________
An effect in which an observer may tend to bend their judgement based on a specific characteristic
The Halo Effect can be explained as ____________.
The availability heuristic may lead to incorrect conclusions to certain problems. Why does it happen?
The availability heuristic does not make judgements about the frequency of events.
switching costs
The concept of staying power is directly related to:
Which of the following factors is responsible for the possibility of Moore's Law?
The distance between pathways inside silicon chips gets smaller with each successive generation.
"Sasha scores an 'A' on every one of her tests. I bet she could be a good student leader." This is an example of:
The halo effect
Artificial Intelligence
The top technology companies FAANG and BAT are focussing on implementing and incorporating various applications by embedding ____________ into all of their products.
Proxy Servers
Third-party computers that pass traffic to and from a specific address without revealing the address of the connected users are known as:
_____ are served by ad networks or other customer profiling firms to identify users and record behavior across multiple Web sites.
Third-party cookies
persistence
This key feature means that posts are indefinitely maintained at locations accessible by permanent links:
Which of the following are not a part of Porter's five forces analysis model?
Threat of losses
Which of the following is another name for 'data lake'?
Unstructured data
True
Users leverage bit.ly or other URL-shortening services that don't reveal the web site they link to in their URL.
Which of the following would be a situation where the halo effect is irrelevant?
Waiting for an outcome that depends on an act of nature
Data Warehouse
What do we call a set of databases designed to support decision making in an organization that It is structured for fast online queries and exploration?
Transaction Processing System
What type of system is used to keep track of a customer's monetary exchanges?
Appreciating their children's' existing talents and encouraging development of new talents (Correct)
When dealing with children, Parents can handle the halo effect by:
Financial stake
Which amongst the following does NOT account towards the vulnerability of an organization? Select one from the following options.
SEO, Wikis, Social Engagement
Which amongst the following is an outcome of the modern social media platform?
Unstructured data
Which of the following is another name for 'data lake'?
Choosing a restaurant based on the reviews by food bloggers instead of choosing a place based on how beautiful its pictures look online
Which of the following is not an example of the Halo effect?
Waiting for an outcome that depends on an act of nature
Which of the following would be a situation where the halo effect is irrelevant?
Profit for the year 2018 decreasing by $2000
Which one of the following is NOT a good example of the framing effect?
A Web Log
Which social media tool is used to share ideas, obtain feedback, and mobilize a community?
complexities of the modern value chain vagaries of international law nefarious actions of those willing to put profits above principle
Why is it difficult to address the problem of Electronic Waste
Grey hat, White hat
_________ hackers do technically commit crimes without causing damage by participating in unethical activities, whereas ___________ hackers find vulnerabilities and expose them to improve network security.
Genetic Algorithms
___________ are model building techniques where computers examine many potential solutions to a problem, iteratively modify (mutating) various mathematical models, and comparing the mutated models to search for a best alternative.
Framing effect
___________ occurs when the choice made by a person is affected by how the information about an item is presented.
The Availability heuristic can be described as ____________
a mental shortcut that relies on immediate examples that come to a given person's mind when evaluating a specific topic, concept, method or decision
Display ads sold on a cost per thousand impressions basis often focus on:
creating awareness of an advertiser's brand.
It should be evident from the TJX example that:
information security must be a top organizational priority.
If a customer pays a retailer in cash, he is likely to remain a mystery to the retailer because his name is not attached to the money. Retailers can tie the customer to cash transactions and track the customer's activity if they can convince the customer to use a _____.
loyalty cards
