Deck 1: Business Driven Technology

Question 1

A variable is a business intelligence characteristic that stands for a value that cannot change over time.

Answer 1

False

Question 2

Technology provides countless business opportunities, but can also lead to pitfalls and traps for a business.

Answer 2

True

Question 3

Knowledge workers are individuals valued for their ability to mitigate risk and implement critical human resource rules and regulations.

Answer 3

False

Question 4

Companies today are successful when they combine the power of the information age with traditional business methods.

Question 5

Information is data converted into a meaningful and useful context. 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.

Question 6

Predictive analytics is a world where interconnected, Internet-enabled devices or "things" can collect and share data without human intervention.

Question 7

The information age is the present time, during which infinite quantities of facts are widely available to anyone who can use a computer and has internet access.

Question 8

Business intelligence is information collected from multiple sources such as suppliers, customers, competitors, partners, and industries that analyzes patterns, trends, and relationships for strategic decision making.

Question 9

Machine to machine (M2M) extracts information from data and uses it to predict future trends and identify behavioral patterns.

Question 10

Choosing not to fire a sales representative who is underperforming knowing that person is experiencing family problems is a form of knowledge.

Question 11

The Internet of Things (IoT) refers to devices that connect directly to other devices.

Question 12

Zappos is not a technology company; its primary business focus is to sell books.

Question 13

Predictive analytics extracts information from data and uses it to predict future trends and identify behavioral patterns.

Question 14

A fact is the confirmation or validation of an event or object. In the past, people primarily learned facts from books.

Question 15

Top managers use predictive analytics to define the future of the business, analyzing markets, industries, and economies to determine the strategic direction the company must follow to remain profitable. Tony will set the strategic direction for his firm, which might include introducing new flavors of potato chips or sports drinks as new product lines or schools and hospitals as new market segments.

Question 16

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

Question 17

Machine to machine (M2M) refers to devices that connect directly to other devices.

Question 18

Competitive intelligence is information collected from multiple sources such as suppliers, customers, competitors, partners, and industries that analyzes patterns, trends, and relationships for strategic decision making.

Question 19

Order date, amount sold, and customer number are all forms of data.

Question 20

Using only data and information to make decisions and solve problems is the key to finding success in business. These are also the only core drivers of the information age and the building blocks of business systems.

Question 21

Knowledge assets reside within the minds of members, customers, and colleagues and include physical structures and recorded media.

Question 22

Structured data extracts information from data and uses it to predict future trends and identify behavioral patterns.

Question 23

Knowledge facilitators help harness the wealth of knowledge in the organization.

Question 24

Predictive analytics use techniques that extract information from data and use it to predict future trends and identify behavioral patterns.

Question 25

Big data is a view of data at a particular moment in time.

Question 26

Knowledge facilitators reside within the minds of members, customers, and colleagues and include physical structures and recorded media.

Question 27

Knowledge assets, also called intellectual capital, are the human, structural, and recorded resources available to the organization.

Question 28

Prescriptive analytics use techniques that extract information from data and use it to predict future trends and identify behavioral patterns.

Question 29

Business analytics use techniques that describe past performance and history.

Question 30

Descriptive analytics use techniques that describe past performance and history.

Question 31

Prescriptive analytics use techniques that create models indicating the best decision to make or course of action to take.

Question 32

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

Question 33

A dynamic report can include updating daily stock market prices or the calculation of available inventory.

Question 34

Analytics, also called intellectual capital, are the human, structural, and recorded resources available to the organization.

Question 35

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

Question 36

A static report can include updating daily stock market prices or the calculation of available inventory.

Question 37

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

Question 38

Unstructured data extracts information from data and uses it to predict future trends and identify behavioral patterns.

Question 39

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

Question 40

Predictive analytics use techniques that create models indicating the best decision to make or course of action to take.

Question 41

Companies update business strategies continuously as internal and external environments change.

Question 42

Structured data is data that is not defined and does not follow a specified format and is typically free-form text such as emails, Twitter tweets, and text messages.

Question 43

The business decisions made by the marketing department include promotional data, sales data, and advertising data.

Question 44

For an organization to succeed, every department or functional area must work independently to be most effective.

Question 45

The business decisions made by the operations management department include manufacturing data, distribution data, and production data.

Question 46

The sales and marketing departments primarily use monetary data.

Question 47

The business decisions made by the sales department include potential customer data, sales report data, commission data, and customer support data.

Question 48

MIS is a tool that is most valuable when it leverages the talents of people who know how to use and manage it effectively.

Question 49

The marketing department supports sales by planning, pricing, and promoting goods or services.

Question 50

The business decisions made by the accounting department include transactional data, purchasing data, payroll data, and tax data.

Question 51

The accounting and finance departments primarily use monetary data.

Question 52

Unstructured data is data that is not defined and does not follow a specified format and is typically free-form text such as emails, Twitter tweets, and text messages.

Question 53

The business decisions made by the finance department include investment data, monetary data, and reporting data.

Question 54

The finance department performs the function of selling goods or services.

Question 55

Structured data is data that has a defined length, type, and format and includes numbers, dates, or strings such as Customer Address.

Question 56

The business decisions made by the human resources department include employee data, promotion data, and vacation data.

Question 57

Successful companies today operate cross-functionally, integrating the operations of all departments.

Question 58

Unstructured data extracts information from data and uses it to predict future trends and identify behavioral patterns.

Question 59

The operations management department manages the process of converting or transforming resources into goods or services.

Question 60

Unstructured data is data that has a defined length, type, and format and includes numbers, dates, or strings such as Customer Address.

Question 61

The business decisions made by the marketing department include transactional data, purchasing data, payroll data, and tax data.

Question 62

The business decisions made by the human resources department include investment data, monetary data, and reporting data.

Question 63

The business decisions made by the finance department include promotion data, sales data, and advertising data.

Question 64

Goods are material items or products that customers will buy to satisfy a want or need.

Question 65

The business decisions made by the accounting department include manufacturing data, distribution data, and production data.

Question 66

Which of the following is not considered a core driver of the information age?

A) Information
B) Business Intelligence
C) Competitive Intelligence
D) Data

Question 67

If a business could produce more hamburgers with the same inputs, it would see a rise in productivity and possibly an increase in profits.

Question 68

An overview of systems thinking includes input, process, output, and finances.

Question 69

If a business could produce the same hamburger with less expensive inputs, it would probably see a decrease in profits.

Question 70

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

Question 71

The business decisions made by the human resources department include potential customer data, sales report data, commission data, and customer support data.

Question 72

Lettuce, tomatoes, patty, bun, and ketchup are included in the output of making a hamburger.

Question 73

A grilled cheese sandwich is considered the final output of a making-a-sandwich process.

Question 74

Waiting tables, teaching, and cutting hair are all examples of services that people pay for to fulfill their needs.

Question 75

Bread, cheese, and butter are included in the process of making a grilled cheese sandwich.

Question 76

Cooking a patty and putting the ingredients together are included in the process of making a hamburger.

Question 77

Cars, groceries, cell phones, and clothing are all examples of goods.

Question 78

The business decisions made by the accounting department include employee data, promotion data, and vacation data.

Question 79

Which of the following is not considered a core driver of the information age?

A) Information
B) Business Intelligence
C) Knowledge
D) Variables

Question 80

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