Bis Quiz 4
Describe the importance of information quality. More than one answer may be correct. Check All That Apply A staggering amount of money is lost as a result of bad data. According to the Data Management Body of Knowledge, the process of data quality management assures data is" fit for consumption and meet the needs of data consumers." To avoid costly errors, organizational decisions need to be based on high-quality information. There is little that can be done to create high-quality data.
A staggering amount of money is lost as a result of bad data. According to the Data Management Body of Knowledge, the process of data quality management assures data is" fit for consumption and meet the needs of data consumers." To avoid costly errors, organizational decisions need to be based on high-quality information. IBM estimates that the U.S. economy loses over $3.1 trillion per year because of bad data. The Data Management Body of Knowledge (DMBOK) defines data quality (DQ) as "the planning, implementation, and control of activities that apply quality management techniques to data, in order to assure it is fit for consumption and meet the needs of data consumers." To make informed business decisions and avoid costly errors, organizations need to take steps to ensure that the data they receive is of the highest quality.
Creating efficiencies by ensuring that nearly all aspects of the firm's operations coordinate with each other is why many corporations integrate a SCM system with their Multiple Choice ERP system. HRM system. PM system. ATM system.
ERP System Many corporations integrate supply chain management (SCM) software into an enterprise resource planning (ERP) suite of software.
Supply chain management systems are business computer applications that support customer preferences and relationships. True or False
False Supply chain management systems are business computer applications that support the efficient flow of goods and services from raw materials to customer distribution and receipt of payment.
How do Internet-connected, point-of-sale (POS) terminals save time for retailers and other businesses? More than one answer may be correct. Check All That Apply The availability of credit or funds is electronically verified. The transaction information is automatically recorded. The customer's identity is electronically checked against past records. The receipt information is electronically mailed to the customer.
The availability of credit or funds is electronically verified. The transaction information is automatically recorded. Since POS terminals electronically verify that funds are available and record transactions, retailers no longer have to spend time resolving problems such as denied credit cards or tracking down information for past transactions.
Which business computer application system is focused on helping managers to maintain the business's focus on the individual customer by developing a lasting relationship that promote long-term buying? employee evaluation management system customer relationship management (CRM) system human resources management (HRM) system inventory management system
customer relationship management (CRM) system Customer relationship management (CRM) systems focus on helping managers maintain the business's focus on the individual customer by developing a lasting relationship that promote long-term buying.
Which of these reports are commonly provided by Management Information Systems (MIS) to assist in making structured decisions? More than one answer may be correct. Check All That Apply exception reports production reports forecasting reports network reports
exception reports production reports forecasting reports Exception reports, production reports, and forecasting reports are provided by MIS to support structured decision making.
What type of decision-making software can identify issues and find and implement solutions at transactional speed? Multiple Choice high-velocity executive-speed expression momentum
high-velocity High-velocity decision-making software is designed to identify issues, find appropriate solutions, and implement the programs needed for these solutions at transactional speed.
Which of the following have been made nearly obsolete by business applications technology? More than one answer may be correct. Check All That Apply imprinters ("knuckle-busters") credit card verification books travelers checks mobile payments
imprinters ("knuckle-busters") credit card verification books travelers checks Modern point-of-sale stations have made imprinters, credit card verification books, and travelers checks largely things of the past.
What is the intended result for a business using customer relationship management (CRM) software? More than one answer may be correct. Check All That Apply increased sales increased market share increased profit increased production
increased sales increased market share increased profit By tracking consumer behavior, customer relationship management (CRM) software focuses on customer experience in order to retain and attract customers. The result should be increased sales, market share, and profit.
Checks are quickly processed by point-of-sale (POS) stations with the use of radio frequency identification (RFID) .near field communication (NFC). magnetic ink character recognition (MICR). light emitting diodes (LEDs).
magnetic ink character recognition (MICR). Magnetic ink character recognition (MICR) technology enables checks to be processed nearly as quickly as credit cards.
From the following list, select the technologies that are required for businesses to accept payment via Apple Pay and Google Wallet. Check All That Apply point-of-sale (POS) device near field communication (NFC) smart mobile phones radio frequency identification (RFID)
point-of-sale (POS) device near field communication (NFC) smart mobile phones A point-of-sale (POS) device, near field communication (NFC), and the customer's smartphone work together to make the use of mobile payment services such as Apple Pay and Google Wallet possible.
Which software company has expanded its credit card payment processing products to also sell point-of-sale (POS) stations? Stripe Quickbooks Square PayPal
stripe Initially, this company sold credit card processing software that could be easily integrated with existing software, such as that used by Lyft. Now it also sells POS stations as well.
What function allows managers the ability to search data sets for information that is needed for a given decision? filtering sorting analyzing data managing
Filtering The management filtering function allows users to find the specific data needed for a specific decision.
Which of the following statements correctly describe structured management decisions? Select all the correct answer options. Check All That Apply They involve tasks and choices that are routine and frequently related to operations. They are regularly made by individual employees and teams. They are made easier through the creation of defined processes and procedures. They involve complex tasks that require each decision to be treated as a new task.
They involve tasks and choices that are routine and frequently related to operations. They are regularly made by individual employees and teams. They are made easier through the creation of defined processes and procedures. Structured decisions cover routine operational decisions that are frequently executed and best made through defined processes and procedures.
SAP (software) stands for Systems, Applications, and Products in Data Processing. True or False
True One of the largest suppliers of supply chain management and enterprise resource planning software is SAP, based in Walldorf, Germany. SAP stands for Systems, Applications, and Products in Data Processing.
Structured decisions are management decisions that involve tasks and choices facilitated by prescribed and definite procedures for how they should be handled. True or False
True Structured decisions involve routine-type tasks often encountered by middle managers; defined procedures make it unnecessary for managers to waste time treating each decision as a new task.
When deciding on a solution, what criteria should a manager use when evaluating different choices? More than one answer may be selected. Check All That Apply benefits costs speed competitive analysis
benefits costs When deciding on a solution, manager should use the benefits and costs as criteria for evaluating choices.
Unstructured decisions include which of the following decisions or activities? More than one answer option may be correct. Check All That Apply capital budgeting decisions strategic goal development inventory decisions payroll and overtime decisions
capital budgeting decisions strategic goal development Many complex and unstructured decisions are involved in capital budgeting and developing strategic goals, as with the development of a marketing plan.
If a hotel restaurant is expecting a sudden influx of customers, which business software system/s would enterprise resource planning (ERP) software coordinate to not only manage the additional guests, but also maximize profits? More than one answer may be correct. Check All That Apply supply chain management human resources management customer relationship management marketing management
supply chain management human resources management customer relationship management In the event of an expected but unusual influx of guests, the hotel would rely on enterprise resource planning (ERP) software to coordinate their supply chain management, human resources management, and customer relationship management software systems. This would entail covering increased food and beverage products, employees, and general customer satisfaction.
What is the difference between production reports and forecasting reports about production? Multiple Choice Forecasting reports also fully detail current production conditions. Production reports also fully track current levels of production. Only production reports show if production goals will be met. Only forecasting reports show if future expectations will be met.
Production reports also fully track current levels of production. Both production reports and forecasting reports about production can indicate whether production goals or future expectations will be met, but only production reports track all available details about current levels of production.
