IS 303 Chapter 1 Concept Review

Which of the following are dynamic reports? (Select two) A) Available inventory report B) Daily stock market price report C) Last year's salary report D) Last year's sales report

Available inventory report and Daily stock market price report

What type of analytics is best described with a report that includes charts and graphs explaining the data?

Descriptive analytics

What is data that humans, in interaction with computers, generate?

Human-generated structured data

What refers to devices that connect directly to other devices?

Machine to machine (M2M)

Manages the process of converting or transforming resources into goods or services.

Operations management

What is data converted into a meaningful and useful context?

information

Human-generated structured data is data that humans, in interaction with computers, generate. Which two sources of data are human-generated structured data? . A) Input data B) Satellite images C) Gaming data D) Scientific atmosphere data

input data and gaming data

What function does feedback serve within a system?

Helps maintain stability

A(n) ______ is a view of data at a particular moment in time.

Snapshot

Records, measures, and reports monetary transactions.

Accounting

True or false: Analytics is the science of fact-based decision making.

True

Select the question that can be answered using only raw data.

A) What is the date, amount sold, and customer number for a sale transaction? B) Which of the perishable items used by a restaurant should be ordered first? C) What is the lowest sales per week compared with the economic interest rates? Answer: A

Select the three departments found in a typical company. A) Systems thinking B) Accounting C) Sales D) Payroll E) Chief Technology Officer F) Human resources

Accounting, sales, human recourses

Select 3 goals or objectives that a leadership plan might include to achieve a solid business strategy. A) Attracting new customers B) Decreasing costs C) Supply chain power D) Buying power E) Increasing sales

Attracting new customers, Decreasing cost, increasing sales

What is a collection of large, complex data sets, including structured and unstructured data, which cannot be analyzed using traditional database methods and tools?

Big data

Select the three generic business strategies Porter identified for entering a new market. A) Focused leadership B) Product differentiation C) Broad cost leadership D) Broad differentiation E) Focused strategy

Broad cost leadership, Broad differentiation, Focused strategy

______ analytics is the scientific process of transforming data into insight for making better decisions.

Business

What is the scientific process of transforming data into insight for making better decisions?

Business analytics

What is a standardized set of activities that accomplish a specific task, such as processing a customer's order?

Business process

What is a leadership plan that achieves a specific set of goals or objectives?

Business strategy

What is a segment of a company representing a specific business function?

Business unit

Which question can be answered using business intelligence? A) Is a salesperson on staff underperforming because of his wife's health problems? B) What were the date of a customer's order and the amount of the order? C) What was the lowest sales per week compared with the economic interest rate?

C

Select three examples of goods. A) Teaching B) Waiting tables C) Cars D) Cutting hair E) Groceries F) Clothing

Cars, Groceries, clothing

Select two examples of services. A) Groceries B) Cutting hair C) Waiting tables D) Manufacturing automobiles

Cutting hair and Waiting tables

The Internet of Things (IoT) is a world where interconnected, Internet-enabled devices or "things" can collect and share ______ without human intervention

Data

What are the raw facts that describe the characteristics of an event or object?

Data

A data ______ extracts knowledge from data by performing statistical analysis, data mining, and advanced analytics on big data to identify trends, market changes, and other relevant information.

Data Scientist

Who extracts knowledge from data by performing statistical analysis, data mining, and advanced analytics on big data to identify trends, market changes, and other relevant information?

Data Scientist

What is the ability for data to be collected, analyzed, and accessible to all users (the average end user)?

Data democratization

What uses techniques that describe past performance and history?

Descriptive analytics

The key term machine to machine (M2M) refers to devices that connect directly to other ______.

Devices

What changes automatically during creation?

Dynamic report

What is information that returns to its original transmitter (input, transform, or output) and modifies the transmitter's actions?

Feedback

Deals with strategic financial issues including money, banking, credit, investments, and assets.

Finance

Which two terms can be used interchangeably with the business unit? A) Intelligence area B) Functional area C) Knowledge area D) Department E) Business area

Functional area and Department

Maintains policies, plans, and procedures for the effective management of employees.

Human Resources

What is data converted into a meaningful and useful context? A) Business intelligence B) Facts C) Knowledge D) Information

Information

in the ___ age infinite quantities of facts are widely available to anyone who can use a computer.

Information

What age are we currently living in when infinite quantities of facts are widely available to anyone who can use a computer?

Information age

Which of the following are classified as static report types? (Select two) A) Daily stock market price report B) Last year's sales report C) Last year's salary report D) Available inventory report

Last years sales report and Last years salary report

What is created by a machine without human intervention?

Machine-generated data

What is the primary purpose of data democratization?

Make data accessible to all users

Supports sales by planning, pricing, and promoting goods or services.

Marketing

Machine-generated data is created by a machine without human intervention. Which two sources represent machine-generated data? A) Text messages B) Point-of-sale data C) E-mail messages D) Sensor data

Point-of-sale data and Sensor data

What analyzes the competitive forces within the environment in which a company operates to assess the potential for profitability in an industry?

Porters Five Forces Model

What is the process where a business takes raw materials and processes them or converts them into a finished product for its goods or services?

Production

What is the rate at which goods and services are produced based upon total output given total inputs?

Productivity

Productivity is the ______ at which goods and services are produced based upon total output given total inputs.

Rate

Structured data has a defined length, type, and format and includes numbers, dates, or strings such as Customer Address. Which two sources typically store structured data? A) Text messages B) Relational database C) Twitter tweets D) Spreadsheet

Relational database and Spreadsheets

What is a document containing data organized in a table, matrix, or graphical format allowing users to easily comprehend and understand information?

Report

What evaluates an organization's strengths, weaknesses, opportunities, and threats to identify significant influences that work for or against business strategies?

SWOT analysis

Performs the function of selling goods or services

Sales

What are two sources of unstructured data? A) Satellite images B) Point-of-sale data C) Gaming data D) Social media data

Satellite imagines and Social media data

What are tasks performed by people that customers will buy to satisfy a want or need?

Services

What is a view of data at a particular moment in time?

Snapshot

What is created once based on data that does not change?

Static report

A report is a document containing data organized in a table, matrix, or graphical format allowing users to easily comprehend and understand information. What are the two common types of reports? A) Business intelligence reports B) Static reports C) Data reports D) Dynamic reports

Static reports and Dynamic reports

What has a defined length, type, and format and includes numbers, dates, or strings such as Customer Address?

Structured data

Business intelligence (BI) is information collected from multiple sources that analyzes patterns, trends, and relationships for strategic decision making.

Suppliers, customers, competitors, partners, and industries

A (n) ______ is a collection of parts that link to achieve a common purpose.

System

What is a collection of parts that link to achieve a common purpose?

System

What is a way of monitoring the entire system by viewing multiple inputs being processed or transformed to produce outputs while continuously gathering feedback on each part?

Systems thinking

What provides an end-to-end view of how operations work together to create a product or service?

Systems thinking

A world where interconnected, internet-enabled devices or "things" can collect and share data without human intervention is known as ___.

The Internet of Things (IoT)

What are the strategies for entering a new market including broad cost leadership, broad differentiation, and focused strategy?

Three generic business strategies

True or false: Big data is a collection of large, complex data sets, including structured and unstructured data, which cannot be analyzed using traditional database methods and tools.

True

What is not defined and does not follow a specified format and is typically free-form text such as emails, Twitter tweets, and text messages?

Unstructured data

A(n) Blank______ is a data characteristic that stands for a value that changes or varies over time.

Variable

Which big data term describes different forms of structured and unstructured data?

Variety

Which big data term describes the analysis of streaming data as it travels around the Internet? A) Veracity B) Velocity C) Volume D) Variety

Velocity

Select two terms that represent what is confirmed or validated with a fact. A) Event B) Perception C) Object D) Belief

an Event and an object

A(n) SWOT ______ evaluates an organization's strengths, weaknesses, opportunities, and threats to identify significant influences that work for or against business strategies.

analysis

What is the science of fact-based decision making?

analytics

Production is the process where a business takes raw materials and processes or converts them into finished ______ or services.

goods

What are material items or products that customers will buy to satisfy a want or need?

goods

Porter's Five Forces Model analyzes the competitive forces within the environment in which a company operates to assess the potential for profitability in a(n) ______.

industry

A business ______ is a standardized set of activities that accomplish a specific task, such as processing a customer's order.

process

A variable is a data characteristic that stands for a value that changes or varies over _____

time