Question 1

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?
A)Slice-and-Dice
B)Competitive tables
C)Drill-down
D)Consolidation

Accepted Answer

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

Question 2

What is a special-purpose knowledge-based information system that accomplishes specific tasks on behalf of its users?
A)Intelligent system
B)Artificial intelligence
C)Neural network
D)Intelligent agent

Accepted Answer

A special-purpose knowledge-based information system that accomplishes specific tasks on behalf of its users is commonly known as an intelligent agent. Intelligent agents are capable of learning and adapting to their environment to improve their performance over time, and they are commonly used to automate routine or repetitive tasks, provide personalized recommendations or customer service, and facilitate communication between different systems or applications. Other types of intelligent systems, such as neural networks and artificial intelligence, are more general-purpose and do not focus on accomplishing specific tasks in the same way that intelligent agents do.

Question 3

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?
A)Solutions based analysis
B)Optimization system
C)Goal-seeking analysis
D)Revenue analysis

Accepted Answer

Goal-seeking analysis works in reverse to what-if and sensitivity analysis by finding the inputs necessary to achieve a goal or a desired level of output. It involves identifying the objective and then altering the input variables until the desired outcome is achieved. This type of analysis is often used in financial modeling and decision-making to determine the required inputs for achieving a desired result, such as maximizing profits or minimizing costs.

Question 4

Decision making at the executive or strategic level require 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?
A)OLTP
B)Executive Information System (EIS)
C)Transaction Support System (TSS)
D)Decision Support System (DSS)

Accepted Answer

An Executive Information System (EIS) is a specialized DSS that supports senior-level executives and unstructured decisions requiring judgment, evaluation, and insight. EIS combines data from a variety of sources to provide a comprehensive view of the organization's performance. OLTP is Online Transaction Processing, which is not a specialized DSS, and TSS is Transaction Support System, which is not specific to executive-level decision making. DSS is a general term that could apply to many decision support systems, including those for lower levels of the organization.

Question 5

Which industry has been relying on neural network technology for over two decades?
A)Food service
B)Hotels
C)Finance
D)Healthcare

Accepted Answer

The finance industry has been using neural network technology for over two decades to help with tasks such as fraud detection, credit scoring, and risk assessment.

Question 6

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?
A)Drill-down
B)Visualization
C)Granularity
D)Consolidation

Accepted Answer

Granularity refers to the level of detail in the model, which can range from fine to coarse. Executives deal more with coarser information that provides a higher-level view of the business, rather than getting bogged down in operational details. Drill-down, visualization, and consolidation are related concepts but do not specifically refer to the level of detail in the model.

Question 7

Which of the below is offered by a digital dashboard?
A)Consolidation
B)Drill-down
C)Slice-and-Dice
D)All of the above

Accepted Answer

A digital dashboard offers all three options of consolidation (combining data from multiple sources), drill-down (analyzing detailed data at a lower level), and slice-and-dice (manipulating data to view it from different angles). Therefore, the correct choice is D, all of the above.

Question 8

What is a common tool that is used to support visualizations and tracks KPIs and CSFs by compiling information from multiple sources?
A)Models
B)Digital dashboards
C)Neural networks
D)Verified graphs

Accepted Answer

Digital dashboards are commonly used to support visualizations and track KPIs and CSFs by compiling information from multiple sources. They provide a consolidated view of important data in real-time and can be customized to suit the needs of the user or organization. Models, neural networks, and verified graphs may also be useful tools for data analysis, but they are not specifically designed for tracking KPIs and CSFs.

Question 9

What is a category of AI that attempts to emulate the way the human brain works?
A)Intelligent system
B)Artificial intelligence
C)Expert systems
D)Neural network

Accepted Answer

Neural networks are a category of AI that attempt to emulate the way the human brain works by using interconnected nodes to learn and make decisions based on patterns and data.

Question 10

Which of the below would not be found in a digital dashboard for a manufacturing team?
A)A graph of stock market prices
B)A running line graph of planned versus actual production for the past 24 hours
C)An excel spreadsheet with cost analysis data
D)A hot list of key performance indicators,refreshed every 15 minutes

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 11

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?
A)OLTP is used at the operational level;OLAP is used at the managerial level
B)OLTP is used to capture transactional and event data;OLAP is used to manipulate information
C)OLTP is used to support structured decisions;OLAP is used to support semistructured decisions
D)All of the above

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 12

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?
A)Drill-down
B)Slice-and-dice
C)Intelligent system
D)Consolidation

Accepted Answer

Jim is primarily using the consolidation capability of his digital dashboard, as he is receiving data from multiple sources (his managers in each state) and loading it all into one place for analysis of the western division as a whole.

Question 13

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?
A)Calculate the highest potential profits
B)Calculate employee benefit payments
C)Use this as an extension for a digital dashboard
D)Create production schedules

Accepted Answer

By changing revenue and cost variables in an optimization analysis, a manager can calculate the highest potential profits, which is the optimum value for the target variable.

Question 14

What is a graphical display of patterns and complex relationships in large amounts of data?
A)Visualization
B)Model
C)Table
D)Digital spreadsheet

Accepted Answer

Visualization is a graphical display of patterns and complex relationships in large amounts of data. Models, tables, and digital spreadsheets can also display data, but they do not provide the same level of visualization as a graphical display.

Question 15

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?
A)Slice-and-Dice
B)Competitive tables
C)Drill-down
D)Consolidation

Accepted Answer

Jerry is using the capability of drill-down to analyze his department's success by looking at details and details of information. Drill-down allows a user to analyze data at different levels of detail by clicking on a data point to reveal more detailed information.

Question 16

Which of the following is the most commonly used form of AI in the business arena?
A)Intelligent system
B)Artificial intelligence
C)Expert system
D)Neural network

Accepted Answer

The most commonly used form of AI in the business arena is the expert system. Expert systems are computer programs designed to mimic human decision-making processes in specific areas, such as medical diagnosis, financial planning, and legal analysis. Expert systems are widely used in business because they can automate complex decision-making processes and provide insights that may not be immediately apparent to human analysts. While other forms of AI, such as neural networks and intelligent systems, are also used in business, they are not as commonly used as expert systems.

Question 17

How does a DSS typically differ from an EIS?
A)EIS requires data from external sources to support unstructured decisions where a DSS typically use internal sources to support semistructured decisions
B)DSS typically use external sources and EIS use internal sources to support decisions
C)A DSS never use external sources
D)EIS always use internal sources to support structured decisions

Accepted Answer

DSS are typically used for semistructured decisions, where the data sources are often internal to the organization. EIS, on the other hand, are used for unstructured decisions and require data from both internal and external sources to support decision making.

Question 18

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?
A)Slice-and-Dice
B)Competitive tables
C)Drill-down
D)Consolidation

Accepted Answer

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

Question 19

What do cargo transport systems,book distribution centers,the video game market,a flu epidemic,and an ant colony have in common?
A)They are all expert systems and thus share some characteristics
B)They are all genetic algorithm systems and thus share some characteristics
C)They are all neural network systems and thus share some characteristics
D)They are all complex adaptive systems and thus share some characteristics

Accepted Answer

All of the given systems involve a large number of interacting components that adapt and respond to changes in their environment. They exhibit emergent behavior that cannot be predicted by examining individual components alone, and often require a decentralized approach to management or control. These are all characteristics of complex adaptive systems.

Question 20

Which type of AI system assigns values of 0 and 1 to vague or ambiguous information?
A)Genetic algorithms
B)Artificial intelligence
C)Fuzzy logic
D)Intelligent agents

Accepted Answer

Fuzzy logic is a type of AI system that assigns values between 0 and 1 to vague or ambiguous information. It allows for more nuanced decision-making and can handle imprecision and uncertainty better than traditional boolean logic.

Quiz 2: Decisions Processes: Value Driven Business

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

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?

Decision making at the executive or strategic level require 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?

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

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?

Which of the below is offered by a digital dashboard?

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

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

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

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?

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?

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

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

How does a DSS typically differ from an EIS?

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

Which type of AI system assigns values of 0 and 1 to vague or ambiguous information?