Question 1

The financial industry uses business intelligence to predict hardware failures.

Accepted Answer

The technology industry uses business intelligence to predict hardware failures, where the retail industry uses it to predict sales, inventory levels, and distribution.

Question 2

A data set is an organized collection of data.

Accepted Answer

A data set is an organized collection of data.

Question 3

The banking industry uses business intelligence to understand customer credit card usage and nonpayment rates.

Accepted Answer

The banking industry uses business intelligence to understand customer credit card usage and nonpayment rates.

Question 4

Business intelligence is an approach to business governance that values decisions that can be backed up with verifiable data.

Accepted Answer

Data-driven decision management is an approach to business governance that values decisions that can be backed up with verifiable data.

Question 5

A data mart is the process of analyzing data to extract information not offered by the raw data alone.

Accepted Answer

Data mining is the process of analyzing data to extract information not offered by the raw data alone.

Question 6

A data lake is a storage repository that holds a vast amount of raw data in its original format until the business needs it.

Accepted Answer

A data lake is a storage repository that holds a vast amount of raw data in its original format until the business needs it.

Question 7

A data lake is a business that collects personal information about consumers and sells that information to other organizations.

Accepted Answer

A data broker is a business that collects personal information about consumers and sells that information to other organizations.

Question 8

Many firms' complete data quality audits to determine the accuracy and completeness of its data.

Accepted Answer

Many firms' complete data quality audits to determine the accuracy and completeness of its data.

Question 9

Duplicate data, inaccurate data, misleading data, and incorrect data are all problems associated with dirty data.

Accepted Answer

Duplicate data, inaccurate data, misleading data, and incorrect data are all problems associated with dirty data.

Question 10

While a traditional data warehouse stores data in files or folders, a data lake uses a flat architecture to store data.

Accepted Answer

A data lake is a storage repository that holds a vast amount of raw data in its original format until the business needs it.

Question 11

Comparative analysis can help managers with competitive monitoring where a company keeps tabs of its competitor's activities on the web using software that automatically tracks all competitor website activities such as discounts and new products.

Accepted Answer

Business intelligence can help managers with competitive monitoring where a company keeps tabs of its competitor's activities on the web using software that automatically tracks all competitor website activities such as discounts and new products.

Question 12

Many organizations find themselves in the position of being data rich and information poor. Even in today's electronic world, managers struggle with the challenge of turning their business data into business intelligence.

Accepted Answer

Many organizations find themselves in the position of being data rich and information poor. Even in today's electronic world, managers struggle with the challenge of turning their business data into business intelligence.

Question 13

Source data identifies the primary location where data is collected. It can include invoices, spreadsheets, time-sheets, transactions, and electronic sources such as other databases.

Accepted Answer

Source data identifies the primary location where data is collected. Source data can include invoices, spreadsheets, time-sheets, transactions, and electronic sources such as other databases.

Question 14