Question 1

E-discovery refers to:
A) identifying and retrieving relevant electronic information to support litigation efforts.
B) something a firm does not account for in its archiving and data storage plans.
C) older information systems that are often incompatible with other systems, technologies, and ways of conducting business.
D) collecting and reselling data.
E) rewards and usage incentive, typically in exchange for a method that provides a more detailed tracking and recording of consumer activity.

Accepted Answer

E-discovery refers to the process of identifying and retrieving relevant electronic information to support litigation efforts. This includes potentially relevant emails, text messages, social media posts, and other digital documents that may be used as evidence in a legal case.

Question 2

The question "Where will the systems be contained?" is related to _____.
A) data relevance
B) data quantity
C) data sourcing
D) data hosting
E) data governance

Accepted Answer

The question is directly related to where the systems will be hosted or contained, which falls under the category of data hosting. Therefore, the best choice is D - data hosting.

Question 3

Which of the following questions relate to data quantity?
A) What data is needed to compete on analytics and to meet our current and future goals?
B) Can we even get the data we'll need?
C) How much data is needed?
D) Where will the systems be housed?
E) How should the firm handle security and access?

Accepted Answer

The question "How much data is needed?" directly relates to data quantity.

Question 4

What are the issues to be addressed in order to design, develop, deploy, and maintain data warehouses and data marts?

Accepted Answer

The answer of What are the issues to be addressed...

Question 5

A(n) _____ refers to a heads-up display of critical indicators that allow managers to get a graphical glance at key performance metrics.
A) interstitial
B) embassy
C) canned report
D) prediction interface
E) dashboard

Accepted Answer

The given definition describes a dashboard, which is a graphical representation of key performance indicators that allows managers to quickly assess how a business is performing in real-time. The other options do not fit the given definition.

Question 6

The question "What data is needed to compete on analytics and to meet our current and future goals?" is related to _____.
A) data relevance
B) data quantity
C) data sourcing
D) data hosting
E) data governance

Accepted Answer

The question is asking about what data is necessary to compete with analytics, which points to the importance of data relevance. While data quantity and sourcing are important factors, they are not specifically mentioned in the question. Data hosting and governance are also not directly relevant to the question at hand.

Question 7

_____ provide regular summaries of information in a predetermined format.
A) Ad hoc reporting tools
B) Dashboards
C) Data cubes
D) Canned reports
E) Expert systems

Accepted Answer

Canned reports are pre-built reports that are created and distributed on a regular basis, providing regular summaries of information in a predetermined format. They are typically used for operational reporting and are designed to meet the needs of a specific audience.

Question 8

Random occurrences in data mining results can be detected by dividing the data and building a model with one portion and using another portion to verify the results.

Accepted Answer

This technique is called cross-validation and helps to avoid overfitting and detect random occurrences in the data.

Question 9

Why do firms need to create separate data repositories for their reporting and analytics work?
A) Most firms store their data assets offsite to insure themselves against the possibility of data damage through natural disasters.
B) Maintaining huge databases in-house can be a cost-sink for most firms.
C) Most organizations need to differentiate data derived in-house and from data aggregators.
D) Running analytics against transactional data can bog down a system.
E) Most firms derive their data in a combined and reformatted form.

Accepted Answer

Running analytics against transactional data can require complex and time-consuming queries that can slow down the system, which can affect the performance of other mission-critical applications. Creating a separate data repository for reporting and analytics can help alleviate this issue by allowing for faster, more efficient queries without affecting the performance of the main transactional system.

Question 10

Data miners should realize that first findings of analytics always reveal an optimal course of action.

Accepted Answer

The first findings of analytics may provide some insights, but they do not necessarily lead to an optimal course of action. Further analysis and interpretation of data are usually needed to determine the best course of action.

Question 11

Most transactional databases are not set up to be simultaneously accessed for reporting and analysis. As a consequence:
A) navigational databases are being preferred over transactional databases.
B) data is not efficiently transformed into information.
C) firms prefer to outsource data mining operations to third-party firms.
D) analysts no longer port data to data warehouses or data marts.
E) most firms incur additional expenditure to phase out legacy systems.

Accepted Answer

Transactional databases are designed and optimized for recording and processing transactions, not for reporting or analysis. This means that accessing and analyzing data from them can be slow, inefficient, and may require significant resources. As a result, data may not be efficiently transformed into useful information, resulting in decreased data usability and decision-making capabilities.

Question 12

Firms in fast-moving industries or with particularly complex businesses are in the best position to get database projects completed in enough time to reap benefits before business conditions change.

Accepted Answer

Firms in fast-moving industries or with complex businesses often face challenges in completing database projects quickly due to rapidly changing conditions and intricate requirements, which can delay project completion and reduce the timeliness of benefits.

Question 13

Why do many organizations have data that cannot be converted to actionable information? What are the hurdles faced by firms that attempt to query transactional databases?

Accepted Answer

The answer of Why do many organizations have data that...

Question 14

_____ refer to databases focused on addressing the concerns of a specific problem or business unit.
A) Data marts
B) Dashboards
C) Data miners
D) Data aggregators
E) Data analytics

Accepted Answer

Data marts are designed to provide data for a specific business unit or problem. They are subsets of larger data warehouses and are optimized for specific reporting and analysis needs. Dashboards, data miners, data aggregators, and data analytics are related terms but do not specifically refer to databases focused on a specific problem or business unit.

Question 15

Conventional reports look more like a spreadsheet, with the various dimensions of analysis in rows and columns, with summary values at the intersection.

Accepted Answer

The answer of Conventional reports look more like a spreadsheet,...

Question 16

_____ is a method of querying and reporting that takes data from standard relational databases, calculates and summarizes the data, and then stores the data in a special database called a data cube.
A) Ad hoc reporting
B) E-discovery
C) Data aggregation
D) Online analytical processing
E) Data adjacency

Accepted Answer

Online analytical processing (OLAP) is a method of querying and reporting that takes data from standard relational databases, calculates and summarizes the data, and then stores the data in a special database called a data cube. OLAP allows users to quickly analyze large amounts of data from different perspectives and dimensions.

Question 17

The question, "Can we even get the data we'll need?" is related to data hosting.

Accepted Answer

The question is related to data availability or data access, not data hosting. Data hosting refers to where and how data is stored, while data availability concerns whether the necessary data can be obtained.

Question 18

What are data warehouses and data marts? What is their significance in terms of data organization?

Accepted Answer

The answer of What are data warehouses and data marts?...

Question 19

Data used in OLAP reporting is usually sourced from standard relational databases.

Accepted Answer

OLAP reporting typically uses data from standard relational databases, although it may also include data from other sources such as spreadsheets or external data warehouses. OLAP tools are designed to analyze large volumes of data from multiple sources, allowing users to drill down, slice and dice data in various ways to gain insights and make informed decisions.

Question 20

_____ put(s) users in control so that they can create custom reports on an as-needed basis by selecting fields, ranges, summary conditions, and other parameters.
A) Canned reports
B) Ad hoc reporting tools
C) Dashboards
D) Data cubes
E) Online analytical processing

Accepted Answer

Ad hoc reporting tools allow users to create custom reports by selecting fields, ranges, summary conditions, and other parameters on an as-needed basis. Canned reports are pre-designed, standardized reports that cannot be customized. Dashboards display key performance indicators (KPIs) and metrics in real-time or near-real-time. Data cubes and online analytical processing (OLAP) are technologies used to analyze and query large data sets.

Quiz 12: The Data Asset: Databases, Business Intelligence, Big Data, and Competitive Advantage

E-discovery refers to:

The question "Where will the systems be contained?" is related to _____.

Which of the following questions relate to data quantity?

What are the issues to be addressed in order to design, develop, deploy, and maintain data warehouses and data marts?

A(n) _____ refers to a heads-up display of critical indicators that allow managers to get a graphical glance at key performance metrics.

The question "What data is needed to compete on analytics and to meet our current and future goals?" is related to _____.

_____ provide regular summaries of information in a predetermined format.

Random occurrences in data mining results can be detected by dividing the data and building a model with one portion and using another portion to verify the results.

Why do firms need to create separate data repositories for their reporting and analytics work?

Data miners should realize that first findings of analytics always reveal an optimal course of action.

Most transactional databases are not set up to be simultaneously accessed for reporting and analysis. As a consequence:

Firms in fast-moving industries or with particularly complex businesses are in the best position to get database projects completed in enough time to reap benefits before business conditions change.

Why do many organizations have data that cannot be converted to actionable information? What are the hurdles faced by firms that attempt to query transactional databases?

_____ refer to databases focused on addressing the concerns of a specific problem or business unit.

Conventional reports look more like a spreadsheet, with the various dimensions of analysis in rows and columns, with summary values at the intersection.

_____ is a method of querying and reporting that takes data from standard relational databases, calculates and summarizes the data, and then stores the data in a special database called a data cube.

The question, "Can we even get the data we'll need?" is related to data hosting.

What are data warehouses and data marts? What is their significance in terms of data organization?

Data used in OLAP reporting is usually sourced from standard relational databases.

_____ put(s) users in control so that they can create custom reports on an as-needed basis by selecting fields, ranges, summary conditions, and other parameters.