IST 310 Test #2

What manages accounting data and financial processes within the enterprise with functions such as general ledger, accounts payable, accounts receivable, budgeting, and asset management?

Accounting and finance ERP component

What are mathematical formulas placed in software that performs an analysis on a dataset?

Algorithm

What company is piloting drone aircraft that could deliver a customer's package in a half hour or less?

Amazon (UPS and Fedex also experimenting)

Name just a few companies starting to use Kiva robots in their warehouses.

Amazon, Zappos, Staples

What are the two primary types of integration?

Application and data

What simulates human intelligence such as the ability to reason and learn?

Artificial intelligence

What is involved in the "analyze" step of the data analysis cycle?

Asking the right questions

What is the viewing of the physical world with computer-generated layers of information added to it?

Augmented reality

What routes inbound calls to available agents?

Automatic call distribution

What is the difference between CP and CLV?

CP- metric based on past CLV- predicts future

What are the backbones of ebusiness and integrating these applications is the key to success for many companies?

CRM, SCM, ERP

What guides users through marketing campaigns performing such tasks as campaign definition, planning, scheduling, segmentation, and success analysis?

Campaign management systems

What organizations have obtained great success through the implementation of CRM systems?

Charles Schwab and Kaiser

What is an AI program that simulates interactive human conversation by using key precalculated user phrases and auditory or text-based signals?

Chatbot

What are the two AI tools that help drive CLV?

Chatbot and intelligent virtual agent

What is a feature of web-based self-service which allows customers to click a button and talk with a representative via the Internet?

Click-to-talk

All hardware and software owned and remotely hosted by cloud vendor

Cloud ERP

What offers new ways to store, access, process, and analyze information and connect people and resources from any location in the world where an Internet connection is available?

Cloud computing

With enterprise CRM, what systems are a part of the back office/analytical CRM?

Collaborative CRM system, data warehouse, data mining

What is a key idea within data warehousing?

Collect data from multiple systems to a common location that uses a universal querying tool

What is where customer service representatives answer customer inquiries and solve problems, usually by email, chat, or phone?

Contact center/call center

What maintains customer contact information and identifies prospective customers for future sales, using tools such as organizational charts, detailed customer notes, and supplemental sales information?

Contact management CRM system

What is the primary difference between contact management and opportunity management?

Contact management- deals with existing customers Opportunity management- deals with new customers

What is raw data that has undergone processing?

Cooked data

What are traditional components included in most ERP systems and they primarily focus on internal operations?

Core ERP component

Improving the quality of business decisions has a direct impact on __________________

Costs and revenue

What provides logistics support throughout the entire system or life of the product?

Cradle-to-grave

What is involved in the "visualize" step of the data analysis cycle?

Crafting your data story

What is selling additional products or services to an existing customer?

Cross selling

What is a technique for establishing a match, or balance, between the source data and the target data warehouse that recognizes data shortfalls and issues and alerts managers to inconsistencies or helps determine the cause and effects of enterprise-wide business decisions?

Data map

What is an animated, humanlike graphical chatbot commonly displayed on website home pages and advertisement landing pages?

Intelligent virtual agent

What directs customers to use touch-tone phones or keywords to navigate or provide information?

Interactive voice response (IVR)

What is the time it takes to manufacture a product and deliver it to the retailer?

Inventory cycle time

What provides visibility across inventory levels throughout the entire supply chain- holistically?

Inventory optimization

What is the frequency of inventory replacement?

Inventory turnover

What occurs when there is a problem in the data collected that skews the data in one direction?

Measurement bias

What are the first 5 jobs robots will replace?

Middle management, salespeople, report writers/journalists/authors, accountants/bookkeepers/, doctors

What are several different types of software that sit in the middle and provide connectivity between two or more software applications?

Middleware

• Calculate risks. • Understand uncertainty. • Change variables. • Manipulate time to make decisions.

Models help managers to:

What determines a user's intentions based on what the user typed or said? Ex: search engine using this to determine what the user is searching for based on what the user typed or said

Natural language understanding

What attempts to emulate the way the human brain works?

Neural network or artificial neural network

What are the last 5 jobs robots will replace?

Preschool/elementary school teacher, pro athlete, politician, judge, mental health professional

What is the hash of the previous block in the blockchain?

Previous hash

With proof-of-work and proof-of-stake, their purposes are the same but their _________ are different

Processes

What is the purchasing of goods and services to meet the needs of the supply chain?

Procurement (McDonald's french fries)

What are the 3 components of supply chain management?

Procurement, logistics, and materials management

What is an algorithm that is a way to validate transactions and achieve a distributed consensus?

Proof-of-stake

What is a requirement to define an expensive computer calculation, also called mining, that needs to be performed in order to create a new group of trustless transactions (blocks) on the distributed ledger or blockchain?

Proof-of-work

What uses electronic tags and labels to identify objects wirelessly over short distances and supports logistics?

RFID

What promotes serialization or the ability to track individual items by using the unique serial number associated with each RFID tag?

RFID's electronic product code

What is data that has not been processed for use?

Raw data

What are the features included in a microcontroller?

Read and write, expansion (for memory), ease of use

• Inconsistent Data Definitions • Lack of Data Standards • Poor Data Quality • Inadequate Data Usefulness • Ineffective Direct Data Access (photo in album for more detail)

Reasons business analysis is difficult due to operational systems/databases

What focuses on creating artificial intelligence devices that can move and react to sensory input and supports materials management?

Robotics

What automates each phase of the sales process, helping individual sales representatives coordinate and organize all of their accounts?

Sales management CRM systems

New Customers, Open Leads

Sales metrics

What are 3 ways to measure CRM success?

Sales metrics, customer service metrics, marketing metrics

With enterprise CRM, what systems are a part of the front office/operational CRM?

Sales systems, marketing systems, customer service systems

Since competitors are now only a click away, firms are switching from _______________ to __________________

Sales-focused business strategies, customer-focused business strategies

What is using incorrect training data to train the machine?

Sample bias

Who introduced the blockchain?

Satoshi Nakamoto with Bitcoin in 2009

Why does the customer now have more power than ever?

The Internet

T/F: Organizational data contains structured data in a database AS WELL AS unstructured data such as voice mail, phone calls, text messages, and video clips

True

T/F: Organizational data is difficult to access

True

What leading industrial services firm grew from $300 million in sales to $800 million thanks to the implementation of an ERP system? (the project was named Interplan)

Turner Industries

Domino's Pizza marketing campaign Dutch engineer Alec Momont invented one to bring defibrillators to heart attack patients Agriculture ones

Types of drones

What occurs when a machine learning model has poor predictive abilities because it did not learn the complexity in the training data?

Underfitting

What are two types of machine learning problems?

Underfitting and overfitting

What occurs in situations in which no procedures or rules exist to guide decision makers toward the correct choice?

Unstructured decisions

What produces graphical displays of patterns and complex relationships in large amounts of data?

Visualization

What occurs when a website has stored enough data about a person's likes and dislikes to fashion offers more likely to appeal to that person?

Website personalization

Who introduced word robotics?

Writer Isaac Asimov

Most EISs/digital dashboards offer the following capabilities:

• Consolidation. • Drill-down. • Slice-and-dice. • Pivot.

What are the four steps in the data analysis cycle?

1. Collect 2. Analyze 3. Communicate 4. Visualize

What are the three layers of a data warehouse?

1. ETL/Integration layer 2. Data warehouse layer 3. Data mart layer

What are three marketing operational CRM technologies?

1. List generator. 2. Campaign management system. 3. Cross-selling and up-selling.

What are the 6 steps of the decision-making process?

1. Problem identification. 2. Data collection. 3. Solution generation. 4. Solution test. 5. Solution selection. 6. Solution implementation.

What are the sales and operational CRM technologies a sales department can adopt?

1. Sales management CRM system. 2. Contact management CRM system. 3. Opportunity management CRM system.

What are the two primary goals of proof-of-work?

1. To verify the legitimacy of a transaction, or avoid the so-called double-spending 2. To create new digital currencies by rewarding miners for performing the previous task

What are the 4 quantitative models used by decision support systems (the DDS techniques)?

1. What-if analysis. 2. Sensitivity analysis. 3. Goal-seeking analysis. 4. Optimization analysis.

What is a process that builds layer by layer in an additive process a three dimensional solid object from a digital model that also supports procurement?

3D printing

What is additive manufacturing that prints objects capable of transformation and self-assembly?

4D printing

What fully capitalizes on connectivity, system integration, and the information-producing capabilities of smart devices and includes IoT devices, advanced robotics, and the advanced analytics of big data?

A digital supply chain

What is a key component to big data and blockchain technologies?

A distributed computing environment that shares resources ranging from memory to network to storage

What did Harley Davidson Canada implement to improve their company?

A financial ERP system

A hotlist of KPIs, refreshed every 15 mins A running line graph of planned versus actual production for the past 24 hours A table showing actual versus forecasted product prices and inventories A list of outstanding alerts and their resolution status A graph of stock market prices

A list of potential features in a dashboard for a manufacturing team

What occurs when the user goes into an emotional state of overanalysis/overthinking a situation so that a decision or action is never taken, in effect paralyzing the outcome?

Analysis paralysis

What supports back-office operations and strategic analysis and includes all systems that do not deal directly with the customers?

Analytical CRM

______________________ relies heavily on data warehousing technologies and business intelligence to glean insights into customer behavior. These systems quickly aggregate, analyze, and disseminate customer information throughout an organization.

Analytical CRM

What encompasses all organizational information (transactional info, market info, industry info), and its primary purpose is to support the performance of managerial analysis or semistructured decisions?

Analytical information

What is the integration of a company's existing management information systems?

Application integration

What enables organizations to clarify their vision and strategy and translate them into action and views the organization from four perspectives (Learning and growth, Internal business process., Customer, Financial)?

Balanced scorecard

What is a chart or graph that presents grouped data with rectangular bars with lengths proportional to the values that they represent?

Bar chart

Who was a corporate creator, and keynote speaker, who specialized in data warehousing, i.e, the father of data warehouses?

Bill Inmon

What is a: -type of distributed ledger, consisting of blocks of data that maintain a permanent and tamper-proof record of transactional data -a type of distributed computing -a ledger of facts at a specific point in time?

Blockchain

What is formed by linking together blocks, data structures containing a hash, previous hash, and data?

Blockchain

What is the difference between a blockchain and a database?

Blockchain- you can only create and read Database- you can CRUD create read update and delete

What occurs when distorted product-demand information ripples from one partner to the next throughout the supply chain?

Bullwhip effect

What track corporate metrics such as critical success factors and key performance indicators and include advanced capabilities such as interactive controls allowing users to manipulate data for analysis?

Business intelligence dashboard

Decision making at the strategic level requires both ___________ and __________ to support the uncertainty and complexity associated with business strategy.

Business intelligence, knowledge

What was collecting data like before the Information Age?

Businesses would collect data from nonautomated sources and would lack the resources to then analyze the data and would have to make commercial decisions based on intuition

What is a method whereby new problems are solved based on the solutions from similar cases solved in the past?

Case-based reasoning

What allows every department of a company to store and retrieve information in real-time, allowing information to be more reliable and accessible?

Common data repository

• Automatic call distribution. • Interactive voice response. • Predictive dialing.

Common features included in contact centers

What can compare two or more datasets to identify patterns and trends?

Comparative analysis

What refers to a company keeping tabs of its competitors' activities on the web using software that automatically tracks all competitor website activities such as discounts and new products?

Competitive monitoring

What uses software used by architects, engineers, drafters, artists, and others to create precision drawings or technical illustrations?

Computer-aided design (CAD)

What are the two primary methods in 3D printing?

Computer-aided design (CAD) Computer-aided manufacturing (CAM) Design with CAD, print with CAM

What uses software and machinery to facilitate and automate manufacturing processes?

Computer-aided manufacturing (CAM)

What is the aggregation of data from simple rollups to complex groupings of interrelated information? Ex: data for different sales reps can be rolled up to office/state/regional sales level

Consolidation

Automatic call distribution, interactive voice response (IVR), and predictive dialing are _________________

Contact center services

What is a metric in marketing that represents the total net profit a company makes from any given customer?

Customer lifetime value

What is the agreed-upon time between the purchase of a product and the delivery of the product?

Customer order cycle time

What measures the customer's worth over a specific period of time?

Customer profitability

What involves managing all aspects of a customer's relationship with an organization to increase customer loyalty and retention and an organization's profitability?

Customer relationship management (CRM)

Analytical CRM provides ___________________, which divides a market into categories that share similar attributes, such as age, location, gender, habits, and so on.

Customer segmentation

What is a part of operational CRM that automates service requests, complaints, product returns, and information requests?

Customer service and support (CSS)

Cases Closed, Service Calls

Customer service metrics

What is one of a firm's most valuable assets, and what is a key competitive advantage?

Customers, quality customer relationships

Who coined the term robot?

Czech playwright Karl Capek in play Rossum's Universal Robots

What is the integration of data from multiple sources, which provides a unified view of all data?

Data integration

What is a storage repository that holds a vast amount of raw data in its original format until the business needs it?

Data lake

What contains a subset of data warehouse data?

Data mart

What is an individual item on a graph or a chart?

Data point

Many firms complete ___________ to determine the accuracy and completeness of its data.

Data quality audits

Many organizations find themselves in the position of being ______. Even in today's electronic world, managers struggle with the challenge of turning their ________________________.

Data rich and information poor, business data into business intelligence

Over the coming years, smaller markets will begin to enter the big data scene and our everyday lives will improve from the insights big data is going to share with us about our social relationships, habits, and careers. Because of this, the need for ______________________ will start to dramatically increase.

Data scientists and data artists

What is one solution to analysis paralysis, as it is a growing problem in this time of Big Data?

Data visualization (helps people make decisions faster)

What moves beyond Excel graphs and charts into sophisticated analysis techniques such as pie charts, controls, instruments, maps, time-series graphs, and more and can help uncover correlations and trends in data that would otherwise go unnoticed?

Data visualization tools

What is a logical collection of data - gathered from many different operational databases - that supports business analysis activities and decision-making tasks?

Data warehouse

What extend the transformation of data into information?

Data warehouses

What provided the ability to support decision-making without disrupting the day-to-day operations?

Data warehouses

What is an approach to business governance that values decisions that can be backed up with verifiable data (can also help gain competitive advantage)?

Data-driven decision management

What is an organized collection of data?

Dataset

In the 1990's, executives became less concerned with the _______________ and more concerned with ________________.

Day-to-day business operations, overall business functions

What is one of the most important and challenging aspects of management?

Decision making

What models information using OLAP to support managers and business professionals during the decision-making process?

Decision support system (DSS)

What is a process that employs specialized algorithms to model and study complex datasets; the method is also used to establish relationships among data and datasets?

Deep learning

What is a common tool that supports visualization which tracks KPIs and CSFs by compiling information from multiple sources and tailoring it to meet user needs?

Digital dashboard

What is erroneous or flawed data?

Dirty data

1. Duplicate data 2. Misleading data 3. Incorrect data 4. Non-formatted data 5. Violates business rules data 6. Non-integrated data 7. Inaccurate data

Dirty data problems

What processes and manages algorithms across many machines in a computing environment?

Distributed computing

What enables users to view details and details and details of information and is the opposite of consolidation? Ex: views regional sales data and then drills down to each sale's reps office data

Drill down

What is an unmanned aircraft that can fly autonomously/without a human and supports logistics?

Drones

]-Automation: AI is building robots that can operate similarly to humans -Complex analytics: With massive amounts of data available, humans need help analyzing to find patterns -Fraud detection: Credit card companies use A I to determine if the purchase was made by the customer by analyzing and identifying unfamiliar spending patterns -Resource scheduling: From hospitals to airports, AI can schedule the use of resources to maximize efficiency

Examples of AI

Spreadsheets, invoices, time sheets, transactions, and electronic sources such as other databases

Examples of source data

What is a specialized DSS that supports senior-level executives within the organization and unstructured, long term, non routine decisions requiring judgement, evaluation, and insight?

Executive information system (EIS)

What are computerized advisory programs that imitate the reasoning processes of experts in solving difficult problems?

Expert systems

What is the most common type of AI in the business arena?

Expert systems, because they fill the gap when human experts are too difficult to find or expensive

What are extra components that meet the organizational needs not covered by the core components and primarily focus on external operations?

Extended ERP component

Business intelligence, CRM, SCM, E-business (E-logistics and E-procurement)

Extended ERP components

What is a process that extracts data from internal and external databases, transforms the data using a common set of enterprise definitions, and loads the data into a data warehouse?

Extraction, transformation, and loading (ETL)

What are some notable companies that are currently gaining the most business insights from big data?

Facebook, Google, Netflix

What industry is a veteran of relying on neural networks?

Finance industry (Citibank, Visa, Amex, other CC, insurance companies)

Blockchain is a technology expected to reach widespread use and disrupt the global business environment in the same way the Internet did in the mid 1990s, causing a revolution that will affect the operation of a bunch of different industries such as _______________________.

Finance, news media, medical, legal, and supply chain

What is properly addressing the customer's need the first time they call, eliminating the need for the customer to follow up with a second call?

First call resolution

Robota is Czech word for _________________

Forced labor

What sends information entered into a given system automatically to all downstream systems and processes?

Forward integration

What is a mathematical method of handling imprecise or subjective information? Ex: washing machine knowing how much water to use, accountants working with clients that have subjective financial values like goodwill

Fuzzy logic

What is the first block created in the blockchain?

Genesis block

What is an artificial intelligence system that mimics the evolutionary, survival-of-the-fittest process to generate increasingly better solutions to a problem? Essentially an optimizing system, gets the best outputs for a given input and are best for when there are thousands or millions of solutions possible

Genetic algorithm

What finds the inputs necessary to achieve a goal, such as a desired level of output? The reverse of a what-if/sensitivity analysis? Ex: could determine how many customers must purchase a new product to increase gross profits

Goal seeking analysis

What is a wearable computer with an optical head-mounted display?

Google glass

What refers to the level of detail in the model or the decision-making process?

Granularity

The term data lake is often associated with ______________?

Hadoop

What uses technology allowing humans to interact with a computer though bodily sensations and movements? Ex: cellphone vibrating in your pocket

Haptic interface

What are functions that converts an input of letters and numbers into an encrypted output of a fixed length/the block's unique identifier such as a fingerprint and are the links in the blockchain?

Hash

Computers use ______ to compare things

Hashes

An organization must maintain __________ in the data warehouse

High-quality data

What is a graphical display of data using bars of different heights? It is similar to a bar chart but groups numbers into ranges

Histogram

What tracks employee information including payroll, benefits, compensation, performance assessment, and assumes compliance with the legal requirements of multiple jurisdictions and tax authorities?

Human resource ERP component

- Own Components of Hardware and Software - Host Components of Hardware and Software with Cloud Vendor

Hybrid ERP

What splits the ERP functions between an on-premises E R P system and one or more functions handled as Software as a Service in the cloud?

Hybrid ERP

What is involved in the "collect" step of the data analysis cycle?

Identifying data sources

What is the #1 advantage to a blockchain?

Immutability

What is the ability of a blockchain ledger to remain a permanent, indelible, and unalterable history of transactions?

Immutability

What are the advantages of a blockchain?

Immutability, digital trust, and Internet of Things integration

What is involved in the "communicate" step of the data analysis cycle?

Influence and persuade

Data artists use _____________ to display patterns, relationships, and trends in a visual format

Infographics

-A robot may not injure a human being, or through inaction, allow a human being to come to harm -A robot must obey the orders given it by human beings except where such orders would conflict with the first law - A robot must protect its own existence as long as such protection does not conflict with the first or second law

Isaac Asimov's 3 laws of robotics

What brand of robots does Amazon use in its warehouses?

Kiva

What is a primary component of managing a customer relationship?

Knowing when and why a customer is communicating with the company

What uses stored data to make predictions and decisions in real-time such as goal seeking analysis?

Knowledge planning

What stores large amounts of data with fast access?

Knowledge representation

Active software, Vitria Technology, Extricity

Leading vendors of EAI middleware

What records classified and summarized transactional data?

Ledger

What is an old system that is fast approaching or beyond the end of its useful life within an organization?

Legacy system

What compiles customer information from a variety of sources and segments the information for different marketing campaigns?

List generators

What includes the processes that control the distribution, maintenance, and replacement of materials and personnel to support the supply chain?

Logistics (inbound/warehouse and outbound/transport)

What is a type of artificial intelligence that enables computers to both understand concepts in the environment, and also to learn?

Machine learning

What are the 3 primary areas of AI?

Machine learning Neural networks Virtual reality

At which level are employees continuously evaluating company operations to hone the firm's abilities to identify, adapt to, and leverage change?

Managerial

What is employees evaluate company operations to identify, adapt to, and leverage change?

Managerial decision making

What concerns how the organization should achieve the goals and objectives set by its strategy and are usually the responsibility of midlevel management?

Managerial decisions

What type of decision-making does a decision support system work with?

Managerial/semistructured

How is Walgreens differentiating itself from other national chains?

Marketing itself as a household's just-in-time supplier by developing custom websites to each household to order electronically and pick up at their convenience

Marketing Campaigns, Revenue Generated, Purchases

Marketing metrics

What are activities that govern the flow of tangible, physical materials through the supply chain such as shipping, transport, distribution, and warehousing?

Materials management

What is a simplified representation or abstraction of reality?

Model

What are the ERP system's individual application components?

Modules

Accounting and finance, production and materials management, human resource

Most common core ERP components

What is the process within a genetic algorithm of randomly trying combinations and evaluating the success (or failure) of the outcome?

Mutation

What uses language as an input that a computer system can decipher and act upon its meaning, such as Siri and Alexa?

Natural language processing

What are the 4 areas of AI primary overview?

Natural language processing Natural language understanding Knowledge representation Knowledge planning

What are the following features of? Learning and adjusting to new circumstances on their own Lending themselves to massive parallel processing Functioning without complete or well structured info Coping with huge volumes of info with many dependent variables Analyzing nonlinear relationships in info

Neural networks

The organization before ERP:

Not integrated !

What combines data from different channels into one holistic view of the customer and analyzes the data for insights on customer segmentation, demographics, spending, etc and provides customers what they want, when they want, right at the touch point?

Omnichannel analytics

Own all hardware and software, significant capital investment, complete ownership and include a server at a physical location using an internal network for internal access and firewalls for remote users' access

On-premise ERP

What are the three primary ERP implementation choices driving the next generation of business operations

On-premise ERP, Cloud ERP, Hybrid ERP

What is the manipulation of information to create business intelligence in support of strategic decision making?

Online analytical processing (OLAP)

What is the capturing of transaction and event information using technology to process the info according to defined business rules, store the info, and update existing info to reflect new info?

Online transaction processing (OLTP)

What supports traditional transactional processing for day-to-day front-office operations or systems that deal directly with the customers?

Operational CRM

What is the most common example of a TPS?

Operational accounting system such as a payroll system or an order entry system

What affects how the firm is run from day-to-day and are the domain of operations managers closest to the customer?

Operational decisions

What is employees develop, control, and maintain core business activities required to run the day-to-day operations?

Operational level decision making

What type of decision-making does a transaction processing system work with?

Operational/structured

What targets sales opportunities by finding new customers or companies for future sales?

Opportunity management CRM systems

What is an extension of goal-seeking analysis and finds the optimum value for a target variable by repeatedly changing other variables, subject to specified constraints?

Optimization analysis

What occurs when a machine learning model matches the training data so closely that the model fails to make correct predictions on new data?

Overfitting

What is a great example of infographics/data visualization/data artistry?

Periodic table of the elements

What is a type of graph in which a circle is divided into sectors that each represent a portion of the whole?

Pie chart

What rotates data to display alternative presentations of the data? Ex: swap rows and columns in report to show data in different format

Pivot/rotation

What automatically dials outbound calls and forwards answered calls to an available agent?

Predictive dialing

What is a result of training data being influenced by cultural or other stereotypes?

Prejudice bias

What handles the various aspects of production planning and execution such as demand forecasting, production scheduling, job cost accounting, and quality control?

Production and materials management ERP component

-What is the quickest way to deliver products to our customers? -What is the optimal way to place items in the warehouse for picking and packing? -What is the optimal path to an item in the warehouse? -What path should the vehicles follow when delivering the goods? What areas or regions are the trucks covering?

Questions answered by logistics

-What quantity of raw materials should we purchase to minimize spoilage? -How can we guarantee that our raw materials meet production needs? -At what price can we purchase materials to guarantee profitability? -Can purchasing all products from a single vendor provide additional discounts?

Questions answered by procurement

What is a low-cost, credit-card-sized computer that is a type of microcontroller that plugs into a computer monitor or TV and uses a standard keyboard and mouse?

Raspberry Pi

What is the training of machine learning models to make a sequence of decisions? Ex: Gamelike situation

Reinforcement learning

Who were the first to develop CRM systems?

Sales departments

The sales department was the first to begin developing CRM systems with ______________________, a system that automatically tracks all of the steps in the sales process.

Sales force automation

• A business with a very specific local focus: single-site or multisite within a single country or region. • A business with operations geared strongly toward a specific industry. • A newly acquired operation with a mismatch of multiple outdated, unsupported E R Ps. • A small company with no formal E R P in place.

Scenarios common in hybrid architectures of ERP

What occur in situations in which a few established processes help to evaluate potential solutions, but not enough to lead to a definite recommended decision? Examples include whether or not to build a new manufacturing plant or hire more sales reps

Semistructured decisions

What type of decision occurs at the managerial level?

Semistructured decisions

What is a special case of a what-if analysis and is the study of the impact on other variables when one variable is changed repeatedly? Ex: repeatedly changing revenue in small increments to determine its effects on other variables to help a manager

Sensitivity analysis

What are the 3 primary capabilities of drones?

Sensors, navigation, flight stabilization

What is the ability to look at information from different perspectives and is often performed along a time axis to analyze trends and find time-based patterns in the information?

Slice and dice

What modifies existing software according to the business's or user's requirements?

Software customization

What identifies the primary location where data is collected?

Source data

What is the original transaction record along with details such as the date, purpose, amount spent, canceled checks, etc?

Source document

What is a small embedded line graph that illustrates a single trend? They're often used in reports, presentations, dashboards, and scoreboards and do not includes axes/labels; context comes from related content

Sparkline

Unlike the proof-of-work, in which the algorithm rewards miners who solve mathematical problems with the goal of validating transactions and creating new blocks, with the proof-of-stake, the creator of a new block is chosen in a deterministic way, depending on its wealth, also defined as _____.

Stake

What occurs when managers develop overall strategies, goals, and objectives as part of the company's strategic plan?

Strategic decision making

What involve higher-level issues concerned with the overall direction of the organization and define the organization's overall goals and aspirations for the future?

Strategic decisions

Decision-making and problem-solving occur at each level in an organization. What are the 3 levels?

Strategic, managerial, operational

What type of decision-making does a executive information system work with?

Strategic/unstructured

What is the field of artificial intelligence that works toward providing brain like powers to AI machines; in effect, it works to make machines as intelligent as humans?

Strong AI

What are situations where established processes offer potential solutions?

Structured decisions

What type of decision occurs at the operational level?

Structured decisions

Where can one find an early reference to business intelligence?

Sun Tzu's book, The Art of War. Says that to succeed in war, you must know your own strengths and weaknesses as well as your enemy

What is training a model from input data and its corresponding labels?

Supervised machine learning

What is the management of information flows between and among activities in a supply chain to maximize total supply chain effectiveness and profitability?

Supply chain management

What defines, recommends, and sets flexible supply chain strategies based on an organization's operations and resources?

Supply chain optimization

What is the ability to view all areas up and down the supply chain in real time?

Supply chain visibility

What are the 3 parts of RFID?

Tag, reader, computer network

3D printing, robotics, drones, radio frequency identification, maker movements/maker space

Technologies reinventing the supply chain

1. Managers need to analyze large amounts of information 2. Managers must make decisions quickly 3. Managers must apply sophisticated analysis techniques, such as Porter's strategies or forecasting, to make strategic decisions

The 3 managerial decision-making challenges

-Fraud and counterfeits -Immutability -Greater interoperability (integration) -Provenance:knowing where each asset originated -Recalls: better way to handle them than status quo -Scalability- unlimited database that can be accessed about anywhere in the world -Security -Smart contracts - allow for coins to be automatically exchanged based on certain conditions -Traceability

The benefits of blockchain and supply chain

What is analyzing complex relationships among thousands or even millions of data items to discover patterns, trends, and exception conditions?

The key use associated with DSSs ex: doctor entering symptoms into system to help diagnose patient, insurance companies using DSS to see the risk of giving insurance to risky drivers

• Software. • Consulting fees. • Process rework. • Customization. • Integration. • Testing/Training.

The many complex components of ERP that are expensive to purchase as well as implement

To combine/aggregate data, strategic data, throughout an organization into a single repository for decision-making purposes and business analysis

The primary purpose of a data warehouse

1. Contact center (call center). 2. Web-based self-service system. 3. Call scripting system.

Three customer service operational CRM technologies

What is a graphical representation showing change of a variable over time? They are used for data that changes continuously, such as stock prices.

Time series chart

What is AI's ultimate goal?

To build a system that can mimic human intelligence

What is one example of data aggregation?

To gather data about particular groups based on specific variables such as age, profession, or income

Direct customer feedback, comprehensive view of the customer, measure and track escalation response efficiencies (such as first call resolution), measure and track CLV

Top data analytics a company should track to ensure successful CRM deployments

What is a basic business system that serves the operational level and assists in making structured decisions?

Transaction processing system (TPS)

What are the 3 types of decision-making MIS systems?

Transaction processing system, decision support systems, executive information system

What is transferring information from one machine learning task to the other?

Transfer machine learning

What focuses on the efficient movement of products through effective transportation management by evaluating multiple transportation modes, carriers, routes, shipping strategies, and support to find the lowest cost combination? Focuses on 2 key areas: cost and service

Transportation and logistics optimization

What are examples of analytical information?

Trends, sales, product statistics, future growth projections

T/F: BI can answer tough questions- why are sales below target, why did we sell less in the west, why did X sales drop, why did customer complaints increase

True

What type of decision occurs at the strategic level?

Unstructured decisions

What is training a model to find patterns in a dataset, typically an unlabeled dataset?

Unsupervised machine learning (most common use is clustering data into groups of similar examples)

What is increasing the value of the sale?

Upselling

What is a mathematical property of an algorithm?

Variance bias

What is a computer-simulated environment that can be a simulation of the real world or an imaginary world?

Virtual reality

What is a a work environment that is not located in any one physical space?

Virtual workplace

What is machines can still make their own decisions based on reasoning and past sets of data and is most of the AI systems on the market?

Weak AI

What allows customers to use the web to find answers to their questions or solutions to their problems?

Web-based self-service systems (FedEx)

What checks the impact of a change in a variable or assumption on the model? Ex: What will happen to the supply chain if a hurricane in SC reduces holding inventory from 30% to 10%?

What-if analysis

ERP systems _____________ business processes

automate

Managerial decision-making challenges do the following:

• Analyze large amounts of information. • Apply sophisticated analysis techniques. • Make decisions quickly.

What display data graphically so it can be easily understood and present the results of data analysis, displaying the patterns, relationships, and trends in a graphical format?

Infographics

What is an unfilled customer order for a product that is out of stock?

Back order

What sends information entered into a given system automatically to all upstream systems and processes?

Backward integration

What is the collection of data from various sources for the purpose of data processing?

Data aggregation

What is the solution to organizations being data rich and information poor?

Data aggregation

What is a business analytics specialist who uses visual tools to help people understand complex data?

Data artist

What occurs when adding additional training examples by transforming existing examples?

Data augmentation

What is a process that weeds out and fixes or discards inconsistent, incorrect, or incomplete data?

Data cleansing or scrubbing

What is the common term for the representation of multidimensional data?

Data cube

What describes technologies that allow users to "see" or visualize data to transform data into a business perspective?

Data visualization

Enterprise-wide integration, real-time/near real-time operations, a common database, consistent look and feel

ERP benefits

What is a standard format for the electronic exchange of information between supply chain participants?

Electronic data interchange (EDI)

What manages the transportation and storage of goods?

Elogistics

What represents a new approach to middleware by packaging together commonly used functionality

Enterprise application integration middleware

What integrates all departments and functions throughout an organization into a single I T system (or integrated set of I T systems) so that employees can make enterprise wide decisions by viewing enterprise wide information on all business operations?

Enterprise resource planning

What is the business to business purchase and sale of supplies and services over the Internet?

Eprocurement

BI enables business users to receive data for analysis that is:

• Reliable • Consistent • Understandable • Easily manipulated

The four type of bias in machine learning include:

• Sample bias. • Prejudice bias. • Measurement bias. • Variance bias.

What are the 3 types of machine learning?

• Supervised machine learning. • Unsupervised machine learning. • Transfer machine learning.

What are the 3 supply chain optimization models?

• Supply chain optimization. • Inventory optimization. • Transportation and logistics optimization.