Deck 1: Management Information Systems: Business Driven MIS

Question 1

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

Answer 1

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

Question 2

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.

Answer 2

True
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 3

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

Answer 3

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

Question 4

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

Question 5

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

Question 6

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

Question 7

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 8

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 9

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

Question 10

Top managers use social intelligence to define the future of the business, analyzing markets, industries and economies to determine the strategic direction the company must follow to remain unprofitable.

Question 11

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

Question 12

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

Question 13

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 14

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

Question 15

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

Question 16

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

Question 17

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

Question 18

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

Question 19

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

Question 20

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

Question 21

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

Question 22

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

Question 23

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

Question 24

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

Question 25

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

Question 26

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

Question 27

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

Question 28

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

Question 29

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

Question 30

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

Question 31

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

Question 32

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 33

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

Question 34

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

Question 35

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

Question 36

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 37

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

Question 38

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

Question 39

Business analytics use techniques that describe past performance and history.

Question 40

Descriptive analytics use techniques that describe past performance and history.

Question 41

The accounting and finance departments primarily use monetary data.

Question 42

The sales and marketing departments primarily use monetary data.

Question 43

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 44

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

Question 45

The chief security officer is responsible for ensuring the security of business systems and developing strategies and safeguards against attacks from hackers and viruses.

Question 46

The chief data officer is responsible for ensuring the speed, accuracy, availability, and reliability for MIS.

Question 47

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

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

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

Question 50

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

Question 51

The chief technology officer is responsible for ensuring the security of business systems and developing strategies and safeguards against attacks from hackers and viruses.

Question 52

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

Question 53

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 54

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

Question 55

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

Question 56

The chief privacy officer is responsible for ensuring the ethical and legal use of information within a company.

Question 57

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

Question 58

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

Question 59

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

Question 60

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

Question 61

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

Question 62

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

Question 63

The chief knowledge officer is responsible for collecting, maintaining, and distributing company knowledge.

Question 64

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

Question 65

The chief data officer (CDO)is responsible for determining the types of information the enterprise will capture, retain, analyze, and share.

Question 66

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

Question 67

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

Question 68

Most organizations maintain positions such as chief executive officer (CEO), chief financial officer (CFO), and chief operations officer (COO)at the strategic level.

Question 69

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

Question 70

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

Question 71

The chief data officer is responsible for (1)overseeing all uses of MIS and ensuring that MIS strategically aligns with business goals and objectives.

Question 72

The chief knowledge officer is responsible for collecting, maintaining, and distributing company knowledge.

Question 73

The chief knowledge officer is responsible for (1)overseeing all uses of MIS and ensuring that MIS strategically aligns with business goals and objectives.

Question 74

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

Question 75

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

Question 76

The chief technology officer (CSO)is responsible for ensuring the security of MIS systems and developing strategies and MIS safeguards against attacks from hackers and viruses.

Question 77

The chief data office (CDO)is responsible for ensuring the throughput, speed, accuracy, availability, and reliability of an organization's information technology.

Question 78

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

Question 79

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

Question 80

The chief privacy officer (CPO)is responsible for ensuring the ethical and legal use of information within an organization.