Question 1

_____ systems are often used to empower employees to track and record data at nearly every point of customer contact.

Accepted Answer

The answer of _____ systems are often used to empower...

Question 2

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

Accepted Answer

Data marts are designed to serve a specific business unit or problem area, providing focused and optimized data for decision-making within that area. Dashboards, Hadoop, data aggregators, and data analytics are all tools or technologies that can be used to support data management and analysis, but do not refer specifically to databases designed for a specific business unit or problem area.

Question 3

How is The EchoNest (part of Spotify) leveraging big data for a better music experience?

Accepted Answer

The answer of How is The EchoNest (part of Spotify)...

Question 4

It's believed that medical errors are the _____ leading cause of death in the United States.

Accepted Answer

The answer of It's believed that medical errors are the...

Question 5

Briefly describe the different sources of enterprise data for firms.

Accepted Answer

The answer of Briefly describe the different sources of enterprise...

Question 6

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 must also become transactional specialists.
E) most firms incur additional expenditure to effectively record transactions.

Accepted Answer

Since most transactional databases are not set up for reporting and analysis, the data that is recorded is not being efficiently transformed into information that can be used for decision-making purposes. This can result in a lack of meaningful insights and decisions being made based on incomplete or inaccurate data.

Question 7

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 8

Conventional database technologies often choke when trying to sift through the massive amounts of data collected by many of today's firms, leading to the rise of Hadoop and other "Big Data" technologies.

Accepted Answer

Conventional database technologies can struggle to handle the volume of data collected by many firms, leading to the adoption of Big Data technologies such as Hadoop.

Question 9

The open-source project known as ____________ was created to analyze massive amounts of raw information better than traditional, highly structured databases.

Accepted Answer

The answer of The open-source project known as ____________ was...

Question 10

_____ is the term used to describe some form of business exchange.

Accepted Answer

The answer of _____ is the term used to describe...

Question 11

Systems that record a transaction (some form of business-related exchange), such as a cash register sale, ATM withdrawal, or product return are referred to as _____.

Accepted Answer

The answer of Systems that record a transaction (some form...

Question 12

In data warehousing projects, it is not uncommon for spending on consulting and services to cost five times or more than the cost of the technology itself.

Accepted Answer

This is because data warehousing projects require significant expertise and customization, which often involves hiring external consultants and service providers who have a high hourly rate.

Question 13

Systems that can absorb any type of data, structured or not, from any type of source are often called ____________.

Accepted Answer

The answer of Systems that can absorb any type of...

Question 14

Data warehouses are composed entirely of proprietary corporate data, while data marts take advantage of data purchased from third-party firms.

Accepted Answer

Data warehouses can also incorporate data purchased from third-party firms, while data marts can be composed entirely of proprietary corporate data.

Question 15

Airbnb's "____________" feature helps by leveraging the firm's industry-leading dataset, far larger and more comprehensive than rivals, and constantly updated over time, to suggest the perfect rate.

Accepted Answer

The answer of Airbnb's "____________" feature helps by leveraging the...

Question 16

Turning data into useable information is hindered by transactional databases set up to be simultaneously accessed for reporting and analysis.

Accepted Answer

Transactional databases are primarily designed for operations such as insert, update, delete, or retrieve data items; they are not inherently hindered in turning data into usable information for reporting and analysis. However, for complex reporting and analysis, data is often moved to specialized systems (like data warehouses) that are optimized for these tasks, but this does not mean transactional databases hinder the process.

Question 17

_____ refer to older information systems that are often incompatible with other systems, technologies, and ways of conducting business.
A) Data aggregator systems
B) Loyalty card systems
C) Legacy systems
D) Transaction systems
E) Mnemonic systems

Accepted Answer

Legacy systems refer to older information systems that may not be compatible with newer technologies and systems.

Question 18

Systems that can absorb any type of data, structured or not, from any type of source are often called schema-less.

Accepted Answer

Schema-less systems can handle any type of data without predefined rules or structure.

Question 19

The three Vs of "Big Data" are _____,_____, and ______; characteristics that distinguish it from conventional data analysis problems and require a new breed of technology.

Accepted Answer

The answer of The three Vs of "Big Data" are...

Question 20

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 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 TPS.
E) Reporting and analytics are two separate functions, each requiring its own separate database specifically formatted to the needs of the management team.

Accepted Answer

Running analytics against transactional data can significantly slow down a transaction processing system (TPS). Therefore, creating a separate data repository for analytics work can avoid disrupting the TPS and enable more efficient reporting and analytics processes.

Quiz 15: The Data Asset: Databases, Business Intelligence, Analytics, Big Data, and Competitive Advantage