cis exam 1 module 2 practice questions

displays examples of information?

Best-selling product Worst customer

What is Amazon's product differentiation?

Customer profiling

What is a feature of a product or service that customers have come to expect and entering competitors must offer the same for survival?

Entry barrier

What is a world where interconnected Internet-enabled devices or "things" have the ability to collect and share data without human intervention?

Internet of Things

Who are individuals valued for their ability to interpret and analyze information?

Knowledge workers

How will a business estimate the impact on profits from increases or decreases in costs?

Manipulating variables

Which company is using a broad market and high cost strategy?

Neiman Marcus

three pressures that Michael Porter identified as potential profitability of a company.

New market entrants can steal potential investment capital. Substitute products can steal customers. Competition can steal customers. Influential suppliers can drive down profits by charging higher prices for supplies.

examples of data?

Order data Amount sold Customer number

Which company is using a narrow market and low cost strategy?

Payless Shoes

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

Porter's Five Forces Model

What occurs when a company develops unique differences in its products or services with the intent to influence demand?

Product differentiation

What is high when competition is fierce in a market and low when competitors are more complacent?

Rivalry among existing competitors

What is high when it is easy for new competitors to enter a market and low when there are significant entry barriers to joining a market?

Threat of new entrants

Which company is using a narrow market and high cost strategy?

Tiffany & Co.

Select the two substitutes you could choose instead of taking an airplane to attend a meeting in another country.

Virtual meetings Videoconferencing

What is the primary difference between information and business intelligence?

What is the primary difference between information and business intelligence?

What uses data about people's behaviors to understand intent and predict future actions?

behavioral analytics

_______ power is the ability of buyers to affect the price they must pay for an item.

buyer

What is the ability of buyers to affect the price they must pay for an item?

buyer power

In analyzing a business, the characteristics of an individual sale, such as the order date, are best referred to as ______.

data

Product __________ occurs when a company develops unique differences in its products or services with the intent to influence demand.

differentiation

What is a report changes automatically during creation?

dynamic report

A(n) ________ is the confirmation or validation of an event or object.

fact

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

information

What rewards customers based on their spending?

loyalty programs

machine-generated structured data?

sensor data point-of-sale data web log data

What is typically stored in a traditional system such as a relational database or spreadsheet and accounts for about 20 percent of the data that surrounds us.

structured data

What is the suppliers' ability to influence the prices they charge for supplies (including materials, labor, and services)?

supplier power

three generic business strategies Porter identified for entering a new market.

Broad cost leadership Broad differentiation Focused strategy

four core drivers of the information age.

Data, information, business intelligence, knowledge

three factors used to assess buyer power.

Number of customers Sensitivity to price Size of orders

What is high when there are many alternatives to a product or service and low when there are few alternatives from which to choose?

Threat of substitute products or services

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

Three generic business strategies

human-generated structured data?

click-stream data gaming data input data

Broad strategies reach a large market segment, while focused strategies target a niche or unique market with either _____ leadership or differentiation.

cost

unstructured data?

emails Twitter tweets text messages

two terms that represent what is confirmed or validated with a fact.

event; object

A dynamic report is created once based on data that does not change. Dynamic reports can include a sales report from last year or salary report from five years ago.

false

Rivalry among existing competitors is _____ when competition is fierce in a market and ______ when competitors are more complacent.

high; low

The threat of substitute products or services is _____ when there are many alternatives to a product or service and _____ when there are few alternatives from which to choose.

high; low

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

human-generated data

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

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

information age

What are the two primary resources knowledge workers use to make decisions?

information and intution

A ________ worker is an individual valued for his/her ability to interpret and analyze information.

knowledge

three things a supplier can do to influence an industry if it has high supplier power.

limiting quality or services shifting costs to industry participants charging higher prices

Which type of data is created by a machine without human intervention?

machine-generated data

Which of the following terms is commonly associated with the Internet of Things?

machine-to-machine (M2M)

Factors used to appraise supplier power include ________.

number of suppliers uniqueness of services availability of substitute products

A big part of business intelligence is called _____ analytics, which extracts information from data and uses it to predict future trends and identify behavioral patterns.

predictive

What extracts information from data and uses it to predict future trends and identify behavioral patterns?

predictive analytics

The impact of information technology on the global business environment is equivalent to the printing press's impact on _____ and electricity's impact on productivity.

publishing

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

snapshot

Companies can reduce buyer power with loyalty programs, which reward customers based on their _______.

spendings

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

static report

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

structured data

Supplier power is the suppliers' ability to influence the prices they charge for _____

supplies

________ costs are costs that make customers reluctant to switch to another product or service.

switching

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

time

A dynamic report changes automatically during creation. Dynamic reports can include updating daily stock market prices or the calculation of available inventory

true

A report can cover a wide range of subjects or specific subject for a certain time period or event.

true

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

true

A snapshot is a view of data at a particular moment in time.

true

Lacking data, managers often found themselves making business decisions about how many products to make, how much material to order, or how many employees to hire based on intuition or gut feelings.

true

The truth about information is that its value is only as good as the people who use it. People using the same information can make different decisions depending on how they interpret or analyze the information. Thus information has value only insofar as the people using it do as well.

true

What type of data 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

What is a data characteristic that stands for a value that changes or varies over time?

variable

Which company is using a broad market and low cost strategy?

walmart

The Internet of Things (IoT) is a world where interconnected Internet-enabled devices or "things" have the ability to collect and share data __________ human intervention.

without