Deck 11: Business Analytics and Knowledge Management

Question 1

This allows individuals to own their creativity and innovation in a way similar to owning physical property.

A) Intellectual property
B) Open source license agreement
C) Economies of scale
D) Intellectual capital
E) Patents

Answer 1

A

Question 2

________________ is the process of analyzing data warehouses for "gems".

A) Data combing
B) Data translation
C) Data mining
D) Data searching
E) Data manipulation

Answer 2

C

Question 3

This company approach is one in which facts are gathered and analyzed as the first step in decision making.

A) Information-driven management
B) Hierarchical structure
C) Network structure
D) Evidence-based management
E) Social analytics

Answer 3

D

Question 4

All of the following are components of business analytics EXCEPT for:

A) A data repository
B) Software
C) Hardware
D) A corporate culture that supports analytics
E) A skilled workforce

Question 5

This is the term used to describe the techniques and technology that make it possible to deal with very large volumes of information that are created and stored for analysis.

A) Data warehouse
B) Database
C) Big data
D) Data analytics
E) Business intelligence

Question 6

All of the following are main processes of knowledge management EXCEPT:

A) The generation of knowledge
B) The capturing of knowledge
C) The absorption of knowledge
D) The codification of knowledge
E) The transfer of knowledge

Question 7

Business analytics fuel ________ decision making.

A) social
B) fact-based
C) profit-driven
D) intuition-based
E) top-down

Question 8

IT is traditionally focused on _________________________.

A) data
B) tacit knowledge
C) implicit knowledge
D) explicit knowledge
E) information

Question 9

Knowledge that has been identified,captured,and leveraged to produce higher-value goods or services or some other competitive advantage for the firm is called:

A) Information
B) Intellectual capital
C) Competitive advantage data
D) Business intelligence
E) System data

Question 10

_______________ includes the movement from tacit knowledge to explicit knowledge.

A) Externalization
B) Socialization
C) Internalization
D) Combination
E) Appropriation

Question 11

All of the following are common elements of a BI system EXCEPT for:?

A) Reporting
B) Dashboards
C) Querying
D) Supply chain management
E) Scorecards

Question 12

Capital One found ________ in combination with business analytics to be a very low-cost way to design and develop new products and services for customers.

A) Socialization
B) Experimentation
C) Absorption
D) Externalization
E) Globalization

Question 13

Unlike other baseball teams at the time,the Oakland A's used this to manage the team and carry themselves to the playoffs.

A) Players with lots of determination
B) Young players with the willingness to play
C) Factual data
D) High player salaries
E) High batting averages

Question 14

By utilizing business analytics,a company can learn which one of the following?

A) Which products are moving slowly versus which products are moving quickly
B) Which products have been sold in the past 3 months
C) Who is buying the product and what price they're willing to pay
D) Where each product sits (warehouse, store or factory location)
E) The suppliers who contributed to the manufacturing of the product

Question 15

________________ is hard to structure,hard to transfer,and highly personal to the source.

A) Data
B) Tacit knowledge
C) Implicit knowledge
D) Explicit knowledge
E) Information

Question 16

An organization's only sustainable competitive advantage lies in:

A) The data warehouse.
B) The creation of unrealistic expectations.
C) The employees' knowledge and how they apply that knowledge to business problems.
D) The use of business intelligence.
E) The business processes.

Question 17

This is an ad-hoc codification system that manages tags for annotating and categorizing content.

A) Collaborative data store
B) Folksonomy
C) Data mart
D) Socio-content
E) Social Network

Question 18

All of the following are examples of socialization EXCEPT for:?

A) Sharing war stories
B) Apprenticeships
C) Conferences
D) Non-structured activities, like an office party or lunch discussion
E) Project management

Question 19

These are collections of data designed to support management decision making,and sometimes serve as repositories of organizational knowledge.

A) Data-marts
B) Data containers
C) Data warehouses
D) Data storage centers
E) RAID

Question 20

Knowledge management is the process that generates,captures,codifies and __________ knowledge across an organization in order to achieve a competitive advantage.

A) Analyzes
B) Transfers
C) Applies
D) Limits
E) Saves

Question 21

The CIO-level sponsorship of and passion for analytics enabled firms like Caesars and Capital One to achieve the success they did.

Question 22

These are tools that analyze the impact social IT has on a business.

Question 23

This next generation of business intelligence is more proactive,dynamic and allows for instant,real-time querying of data.

Question 24

Business analytics tools are used with data in the _____________ to gain insight and support decision making.

Question 25

This is one of the features of Google Analytics that allows an organization see how specific search queries drive traffic to the organization's web site.

Question 26

Both Caesars and Capital One are credited with building and performing well-structured tests that gather data and test hypotheses,thereby learning what products and services work best for which customers.What is this testing called?

Question 27

More human contribution goes into creating information than knowledge.

Question 28

Explain how information-based intellectual property,such as a digital book,is different from physical property and why it is harder to protect.

Question 29

Data is more important than knowledge.

Question 30

Business intelligence is a more specific form of knowledge management that seeks to extract knowledge from ______.

Question 31

This tool displays key metrics in a graphical form and has drill down capabilities that get to the next level of detail.

Question 32

The four main types of intellectual property are all of the following EXCEPT:

A) Patent
B) Trademarks
C) Designs
D) Data warehouse
E) Copyrights

Question 33

To support the analytical needs of an organization,data warehouses need to be all of the following EXCEPT:

A) Scalable
B) Compatible with the IT infrastructure
C) Agile to support changing requirements
D) Secure
E) Inaccessible

Question 34

This is the process of combing through massive amounts of data to identify previously unknown relationships among data.

Question 35

How has Web 2.0 changed the knowledge management process? Give specific examples.

Question 36

"False discoveries" are a downside to the analysis of big data.

Question 37

Successful companies that compete using business analytics may have the same tools as their competition,but have built the right culture and organizational support system to ensure that the tools are being used properly.

Question 38

Give examples of how Caesars takes advantage of business analytics to keep customers coming back and spending more.

Question 39

Tacit knowledge is easy to formalize.

Question 40

A company that is using statistical analysis tools to report on why something happened has achieved a higher level of analytical maturity than a company that's using tools to predict what will happen next.

Question 41

Match the business analytic tool with the question it sets out to answer.

Question 42

Match the level of analytical capability to its maturity level.Level 1 is the lowest level of maturity and Level 5 is the highest level of maturity.

Question 43

Match the analytical capabilities maturity level with the question it seeks to answer.

Question 44

There are different types of knowledge.Match the awareness with the level of knowledge it represents.

Question 45

Determine if the following is data,information or knowledge.

Question 46

List the four main processes of knowledge management. Which process is the most difficult to perform? Why?

Question 47

Identify the following actions as either using explicit knowledge or tacit knowledge.

Question 48

Match the activity with the knowledge management process it represents.

Question 49

Match the attribute as belonging to data,information or knowledge.

Question 50

How can a company use social analytic tools to further their mission?

Question 51

List some examples of what a company should do if it seeks to gain a competitive advantage from analytics.

Question 52

Identify some of the sources of big data.