Question 1

What is the DSS analysis that checks the impact of a change in a variable or assumption on the model?

Accepted Answer

A What-If analysis checks the impact of a change in a variable or assumption on the model.

Question 2

As the product manager for the eatery division at Whole Foods, Jerry is responsible for analyzing sales data to help him manage his team. Today Jerry is analyzing his data by looking at details, and details of details of information. Which of the following common digital dashboard capabilities is Jerry using to analyze his departments success?

Accepted Answer

Drill-down enables users to view details, and details of details, of information.

Question 3

Which of the below is offered by a digital dashboard?

Accepted Answer

Digital dashboards offer 1)consolidation, 2)drill-down, and 3)slice-and-dice capabilities.

Question 4

How does a DSS typically differ from an EIS?

Accepted Answer

A DSS (decision support system)differs from an EIS (executive information system)primarily because EIS require data from external sources to support unstructured decisions where a DSS typically uses internal sources to support semistructured decisions.

Question 5

What do cargo transport systems, book distribution centers, the video game market, a flu epidemic, and an ant colony have in common?

Accepted Answer

They are all complex adaptive systems and thus share some characteristics.

Question 6

As the product manager for the eatery division at Whole Foods, Jerry is responsible for analyzing sales data to help him manage his team. Today Jerry is analyzing his data using many different perspectives to identify different ways to improve his division. Which of the following common digital dashboard capabilities is Jerry using to analyze his department's success?

Accepted Answer

Slice-and-dice is the ability to look at information from different perspectives.

Question 7

Decision making at the executive or strategic level requires business intelligence and knowledge to support the uncertainty and complexity of the business. What is a specialized DSS that supports senior-level executives and unstructured decisions requiring judgment, evaluation, and insight?

Accepted Answer

An EIS or an Executive information system is a specialized DSS that supports senior-level executives and unstructured, long-term, nonroutine decisions requiring judgment, evaluation, and insight.

Question 8

What is a special-purpose knowledge-based information system that accomplishes specific tasks on behalf of its users?

Accepted Answer

This is the definition of intelligent agent.

Question 9

What is a common tool that is used to support visualizations and tracks KPIs and CSFs by compiling information from multiple sources?

Accepted Answer

Digital dashboards track KPIs and CSFs by compiling information from multiple sources and tailoring it to meet user needs.

Question 10

What is the analysis that works in reverse to what-if and sensitivity analysis by finding the inputs necessary to achieve a goal such as a desired level of output?

Accepted Answer

A goal-seeking analysis works in reverse to what-if and sensitivity analysis, and finds the inputs necessary to achieve a goal such as a desired level of output.

Question 11

Which of the below would not be found in a digital dashboard for a manufacturing team?

Accepted Answer

Examples of potential features included in a dashboard designed for a manufacturing team include 1)a hot list of key performance indicators, refreshed every 15 minutes, 2)a running line graph of planned versus actual production for the past 24 hours, 3)a table showing actual versus forecasted product prices and inventories, 4)a list of outstanding alerts and their resolution status, and 5)a graph of stock market prices.

Question 12

An optimization analysis finds the optimum value for a target variable by repeatedly changing other variables, subject to specified constraints. What can a manager determine by changing revenue and cost variables in an optimization analysis?

Accepted Answer

An optimization analysis finds the optimum value for a target variable by repeatedly changing other variables, subject to specified constraints. By changing revenue and cost variables in an optimization analysis, managers can calculate the highest potential profits.

Question 13

As the product manager for the eatery division at Whole Foods, Jerry is responsible for analyzing sales data to help him manage his team. Today Jerry is analyzing his data using aggregation techniques allowing him to see simple roll-ups to complex groupings of interrelated information. Which of the following common digital dashboard capabilities is Jerry using to analyze his departments success?

Accepted Answer

Consolidation is the aggregation of data from simple roll-ups to complex groupings of interrelated information.

Question 14

Which of the following is the most commonly used form of AI in the business arena?

Accepted Answer

Expert systems are the most common.

Question 15

What is a graphical display of patterns and complex relationships in large amounts of data?

Accepted Answer

Visualizations produce graphical displays of patterns and complex relationships in large amounts of data.

Question 16

What is a category of AI that attempts to emulate the way the human brain works?

Accepted Answer

This is the definition of neural network.

Question 17

Van Lines Inc. is a large corporation operating in all 50 states. Jim Poulos is the regional manager overseeing the western division, which includes Utah, Colorado, Idaho, Montana, Wyoming, and Nevada. Jim receives data from his managers in each state which he loads into his digital dashboard for analysis of his entire western division. What digital dashboard capability is Jim primarily using?

Accepted Answer

Consolidation is the aggregation of data from simple roll-ups to complex groupings of interrelated information. For example, data for different sales regions can then be rolled up to a regional level.

Question 18

Which industry has been relying on neural network technology for over two decades?

Accepted Answer

Finance has been relying on neural network technology for over two decades.

Question 19

Online transaction processing (OLTP)and online analytical processing (OLAP)are similar MIS strategies used to help with business decision making. What is the primary difference between OLTP and OLAP?

Accepted Answer

Online transaction processing (OLTP)is the capturing of transaction and event information using technology to (1)process the information according to defined business rules, (2)store the information, and (3)update existing information to reflect the new information. It is used at the operational level and to support structured decisions. Online analytical processing (OLAP)is the manipulation of information to create business intelligence in support of strategic decision making. It is used at the managerial level and to support semistructured decisions.

Question 20

Executives of a company deal less with details of the operational activities and deal more with the higher meaningful aggregations of information or "coarser" information. What refers to the level of detail in the model?

Accepted Answer

Granularity refers to the level of detail in the model or the decision-making process.

Quiz 2: Decisions and Processes: Value Driven Business