Exam 2 BIS

Michelle runs an Etsy shop. In one month, she spends $2,800 promoting her shop on Etsy and other social media sites, gaining 50 new customers. Customers purchase products that cost $100, and the cost of her buying materials is 50% of the selling price. What is the actual profit (or loss) per customer, taking into account materials and promotional costs?

$-6.00

The business management system with the lowest initial or startup expenses is

A software as a service (SaaS) option

Which of the following is an example of an organization using knowledge gained from social media to make better strategic decisions.

An organization analyzes engagement with different sponsored posts to determine which ones generate the most engagement with their target audience.

The role of a DBA is to ________Blank and maintain tables in a relational database.

Build

How do CRM systems make troubleshooting customer problems easier?

CRMs store information about customer purchases and interactions.

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

Closure Stage

Which View lets you change database table Field Names and Field Properties?

Design View

Data redundancy is the ________Blank of data.

Duplication

Data scrubbing (data cleaning) involves identifying ________Blank in data sets then duplicating these errors to ensure the data is accurate for an organization.

Errors

ERP software integrates several software packages into a single platform. Which of the following software packages stores employee compensation and performance information?

HRM software

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

High Costs

What is the main benefit of having a social media information system (SMIS) that gathers and analyzes a company's social media data?

If the data show that a social media campaign is not attracting the desired attention or level of engagement, the company can change its campaign strategies.

The stage of the project management (PM) process in which project objectives are identified and feasibility studies are conducted is the planning phase. initiation phase. design phase. modeling phase.

Intiation phase

RAM storage and ________Blank processing are two main in-memory computing components.

Parallel

What does the acronym RDBMS stand for?

Relational Database Management Systems

One of the most popular query languages is ________Blank.

SQL

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

Section 5 of the Federal Trade Commission

Of the following statements, which one specifically applies to the CRM integration of platforms such as Facebook, YouTube, and TikTok?

Social media platforms provide targeted customers information.

Of the following statements, choose the one that most accurately distinguishes social media providers from social media sponsors.

Social media providers build and host website platforms and sponsors invest in these platforms to enhance their social media presence.

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.

To remain relevant in today's e-commerce landscape, many businesses use progressive ________ applications to undertake m-commerce.

Web

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

An effective social media information system (SMIS) collects and analyzes data about the organization's

activities and audience on social media and its own website(s).

One of the ________Blank of data warehouses is their ability to provide access and analysis of information from a variety of subject areas.

advantages

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 facilitating customers' transactions with the business

A key component, and major advantage, of an ERP is its

centralized database

A business is planning on using sponsored social media content for its new product, which is appropriate for people in different age demographics. Which generation would be best targeted by sponsored posts on Instagram?

college students

Data centralization is critical for increasing data ________Blank.

common

To create a relationship between two tables, you must use a ________Blank field that is present in both tables.

common

We use a ________Blank field between the two database tables to create a relationship link.

common

Online marketplaces where one consumer sells to another consumer are called

consumer-to-consumer (C2C).

What is the first step in the six-step process of creating an SMIS?

create system goals that align with the goals of the organization

The understanding that retaining customers is more profitable than finding new ones is behind which business management system?

customer relationship management

Of these business management systems, which one is focused on how managers can develop a lasting relationship with individual customers that promotes long-term buying?

customer relationship management system

One primary purpose or function of a company's social media information system (SMIS) is to connect the company's

customers on social media with its products and services on its website.

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

employee compensation management solutions.

Smaller firms may rely on software packages such Kronos Workforce Ready, BambooHR, PerformancePro for services related to

employee evaluation.

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

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

increase sales, market share, and profit.

Data centralization is critical for increasing data ________Blank.

integrity

Calculating reordering points and order quantity levels are key advantages of modern

inventory management systems.

The difference between a company's fundamental value and its total value is that

its fundamental value is what customers and stakeholder's value about its product or service, while its total value includes the value added by other aspects of the business.

Descriptive data about a customer includes categories such as

lifestyle and career

It is especially important for startup companies to create and follow a well-designed e-commerce strategy. Which of the following is the last phase in a well-designed strategy?

mobile platform planning and implementation

In the fourth step in business process management, managers track the individual components of the process as well as the process as a whole so engine performance can be measured. This step is called

process monitoring.

The total value of a company is based on how much customers value its

products and services

What is Jira and GanttPro examples of?

project management software

Of the listed methods of collecting demographic information, which is the most effective for organizations defining their target market?

social Media

An independent data mart is a(n) ________Blank system created separate from a data warehouse and focused on specific organizational functions.

stand alone

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

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

To increase sales, a sportswear chain is designing a promotional campaign for social media. It plans to post links to coupons on its website and have its sales personnel scan the coupon redemption codes at store registers. Which are the best social media information system (SMIS) metrics to track the success of this promotion?

the sales statistics linked to the coupon redemption codes

Online content that has been created and posted by unpaid contributors such as customers or fans of a product or service is referred to as

user-generated.

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

wallet

Knowledge Discovery in Data (KDD) is also known as ________Blank.

Data Mining

What is the purpose of the Twitter report card?

It highlights high-performing tweets. Correct. Influencers are introduced to their target audience through the Twitter report card.

Relational databases use ________Blank called relationships between tables.

Links

What occurs during the process optimization step of business process management?

Managers adapt (modify) the process to enhance process performance. Correct

What occurs in the process execution step of business process management?

The business process execution language engine is run.

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.

The concept of "share of customer" focuses on getting

The most business from the fewest customers

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

Data governance policies help to ensure an organization's data is valid, understandable, complete, and ________Blank.

accessible

A company has an excess of puffer jackets at the end of the season that it wants to sell quickly. In order to quickly sell this excess inventory, they send out emails to customers currently in their database. However, they want to determine what type of sale their customers find most motivating, so they send out three different emails with different discounts (BOGO free, 50% a purchase over $100, or free expedited shipping). The information gained during this campaign will be tracked, and customers who made purchases will receive similar email offers in the future. What type of CRM strategy is the company using

demonstrating the value of CRM

Data centralization is necessary for maintaining ________Blank.

Data integrity

What occurs during the process monitoring step of business process management?

Managers track the individual components of the process as well as the process as a whole so that the performance of the engine can be measured.

How are social media metrics and social media goals related?

Metrics that correspond to social media goals can serve as key-performance indicators (KPIs) for them.

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

Data Breaches

Database administrators ________Blank and troubleshoot the database (if needed) to ensure it is stable and usable when needed.

Monitor

________ shows that the number of transistors on a computer chip doubles roughly every 18 months, a phenomenon that reflects the speed at which business management systems and other technologies can advance.

Moore's Law

OLAP software allows users to perform multidimensional analysis of a wide range of business data, complex calculations, and trend analysis, as well as data modeling. What does OLAP stand for?

Online Analytical Processing

What is the goal of the modeling step of business process management?

Provide recommendations on handling labor and supply imbalances.

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

TPS software

Decision-making management information systems are necessary because

The amount of information available far exceeds any managers ability to use it.

What is the final step in the six-step process of creating an SMIS?

analyze the collected data

Organizations that use an on-premises business management system

are also responsible for maintaining, updating, and securing the system.

A DBMS provides the ability to ________Blank, query, and store information in a database for managers and database administrators.

Monitor

An organization learns from a social media site that less than 10 percent of users who visit their page engage with the video that is pinned to the top. This is an example of what type of information?

customer interaction