Deck 2: Decisions and Processes: Value Driven Business

Question 1

Measuring the amount of website traffic is the best way to determine an organization's success.

Answer 1

False
A large amount of website traffic does not indicate large revenues or website success.

Question 2

Efficiency MIS metrics include throughput, speed, and availability.

Answer 2

True
Efficiency MIS metrics include throughput, speed, and availability.

Question 3

At the operational level employees are continuously evaluating company operations to hone the firm's abilities to identify, adapt to, and leverage change.

Answer 3

False
At the managerial level employees are continuously evaluating company operations to hone the firm's abilities to identify, adapt to, and leverage change.

Question 4

Operational decisions or semistructured decisions arise in situations where established processes offer potential solutions.

Question 5

Metrics are measurements that evaluate results to determine whether a project is meeting its goals.

Question 6

Unstructured decisions occur in situations in which no procedures or rules exist to guide decision makers towards the correct choice.

Question 7

Analytics is the science of fact-based decision making.

Question 8

One of the most important and challenging questions confronting managers today is how to lay the foundation for tomorrow's success while competing to win in today's business environment.

Question 9

Effectiveness MIS metrics include throughput, transaction speed, and system availability.

Question 10

Operational decisions are considered structured decisions.

Question 11

Metrics are temporary activities a company undertakes to create a unique product, service, or result.

Question 12

A project is a temporary activity a company undertakes to create a unique product, service, or result.

Question 13

Asking how many employees are out sick is a type of operational question.

Question 14

The structure of a typical organization is similar to a pyramid, with different levels that require one consistent type of information to assist with all managerial decision making.

Question 15

Strategic decisions are highly structured decisions.

Question 16

Key performance indicators can focus on external and internal measurements.

Question 17

At the operational level employees develop, control, and maintain core business activities required to run the day-to-day operations.

Question 18

At the strategic decision-making level employees develop, control, and maintain core business activities.

Question 19

The proportion of the market that a firm captures is called market share.

Question 20

Benchmarks are baseline values the system seeks to attain.

Question 21

A consolidation rotates data to display alternative presentations of the data.

Question 22

Return on investment indicates the earning power of a project.

Question 23

A bar chart is a chart or graph that presents grouped data with rectangular bars with lengths proportional to the values that they represent.

Question 24

An infographic (information graphic)is a representation of information in a graphic format designed to make the data easily understandable at a glance. People use infographics to quickly communicate a message, to simplify the presentation of large amounts of data, to see data patterns and relationships, and to monitor changes in variables over time.

Question 25

Managers use transactional information when making structured decisions at the operational level.

Question 26

Sensitivity analysis, what-if analysis, optimization analysis, and market basket analysis are the common DSS analysis techniques.

Question 27

A time-series chart is a graphical representation showing change of a variable over time. Time-series charts are used for data that changes continuously, such as stock prices. They allow for a clear visual representation of a change in one variable over a set amount of time.

Question 28

A pivot rotates data to display alternative presentations of the data.

Question 29

Effectiveness MIS metrics measure the impact MIS has on business processes and activities, including customer satisfaction and customer conversion rates.

Question 30

Digital dashboards offer consolidation, drill-down, and slice-and-dice capabilities.

Question 31

MIS support systems rely on models for computational and analytical routines that mathematically express relationships among variables.

Question 32

A histogram is a graphical display of data using bars of different heights. It is similar to a bar chart, but a histogram groups numbers into ranges.

Question 33

Streamlining information encompasses all of the information contained within a single business process or unit of work, and its primary purpose is to support the performing of daily operational or structured decisions.

Question 34

A pie chart is a type of graph in which a circle is divided into sectors that each represent a proportion of the whole.

Question 35

The manipulation of information to create business intelligence in support of strategic decision making is referred to as OLTP or online transaction processing.

Question 36

Source documents are simplified representation or abstraction of reality.

Question 37

Best practices are the most successful solutions or problem-solving methods that have been developed by a specific organization or industry.

Question 38

Efficiency MIS metrics measure the impact MIS has on business processes and activities, including customer satisfaction and customer conversion rates.

Question 39

A sparkline is a small embedded line graph that illustrates a single trend. Sparklines are often used in reports, presentations, dashboards, and scoreboards. They do not include axes or labels; context comes from the related content.

Question 40

A model is a simplified representation or abstraction of reality.

Question 41

Fuzzy logic is a mathematical method of handling imprecise or subjective information.

Question 42

A neural network is a category of efficiency metrics where it attempts to measure the way the human brain works.

Question 43

Augmented reality is the viewing of the physical world with computer-generated layers of information added to it.

Question 44

A haptic interface uses technology allowing humans to interact with a computer through bodily sensations and movements-for example, a cell phone vibrating in your pocket. A haptic interface is primarily implemented and applied in virtual reality environments and is used in virtual workplaces to enable employees to shake hands, demonstrate products, and collaborate on projects.

Question 45

Virtual workplace is the viewing of the physical world with computer-generated layers of information added to it.

Question 46

Fuzzy logic is the process within a genetic algorithm of randomly trying combinations and evaluating the success (or failure)of the outcome.

Question 47

Granularity refers to the level of detail in the model or the decision-making process.

Question 48

Visualization produces graphical displays of patterns and complex relationships in large amounts of data.

Question 49

A virtual workplace is a work environment that is not located in any one physical space.

Question 50

Source documents are the original transaction records.

Question 51

Intelligent systems are various commercial applications of artificial intelligence.

Question 52

Mutation is a mathematical method of handling imprecise or subjective information.

Question 53

A digital dashboard produces graphical displays of patterns and complex relationships in large amounts of data

Question 54

A shopping bot is one of the simplest examples of an intelligent agent.

Question 55

Investment companies use genetic effectiveness metrics to help in trading decisions.

Question 56

Mutation is the process within a genetic algorithm of randomly trying combinations and evaluating the success (or failure)of the outcome.

Question 57

Augmented reality is a wearable computer with an optical head-mounted display (OHMD).

Question 58

Neural networks use technology allowing humans to interact with a computer through bodily sensations and movements-for example, a cell phone vibrating in your pocket.

Question 59

Google glass is a wearable computer with an optical head-mounted display (OHMD).

Question 60

Google glass is a work environment that is not located in any one physical space.

Question 61

A machine-vision system uses a video camera to capture data and send it to the robot controller. Machine vision is similar in complexity to voice recognition and can be used for handwriting recognition, signature identification, and currency inspection. Two important specifications in any vision system are the sensitivity and the resolution.

Question 62

Examples of static processes include running payroll, calculating taxes, and creating financial statements.

Question 63

Examples of dynamic processes include running payroll, calculating taxes, and creating financial statements.

Question 64

Machine learning is a type of artificial intelligence that enables computers to both understand concepts in the environment, and also to learn. .

Question 65

Virtual reality is a computer-simulated environment that can be a simulation of the real world or an imaginary world.

Question 66

Augmented reality is a computer-simulated environment that can be a simulation of the real world or an imaginary world.

Question 67

Business-facing processes or back-office processes are invisible to the external customer but essential to the effective management and operation of the business.

Question 68

Augmented reality is the viewing of the physical world with computer-generated layers of information added to it.

Question 69

Core processes are patents that protect a specific set of procedures for conducting a particular business activity.

Question 70

Strategic planning is a customer-facing business process.

Question 71

Core processes are business processes, such as manufacturing goods, selling products, and providing services that make up the primary activities in a value chain.

Question 72

Product delivery is a customer-facing business process.

Question 73

Weak AI refers to the field of artificial intelligence that works toward providing brainlike powers to AI machines; in effect, it works to make machines as intelligent as the humans.

Question 74

When evaluating the 5-steps in the order-to-delivery business process, step one includes creating a campaign and checking inventory, which are both part of the human resources function.

Question 75

Deep learning is a process that employs specialized algorithms to model and study complex datasets; the method is also used to establish relationships among data and datasets.

Question 76

Improving the efficiency and effectiveness of its business processes will improve a firm's value chain.

Question 77

A static process uses a systematic approach in an attempt to improve business effectiveness and efficiency continuously. Managers constantly attempt to optimize static process.

Question 78

Virtual reality is the viewing of the physical world with computer-generated layers of information added to it.

Question 79

An algorithm refers to a set of instructions that completes a task.

Question 80

Strong AI machines can still make their own decisions based on reasoning and past sets of data. Most of the AI systems in market today are strong AI.