MIS Exam 2

what is a long tail

refers to an extremely large selection of content or products

what is the long tail phenomeon

where firms can make money by offering a near-limitless selection

what is collaborative filtering

a classification of software that monitors trends among customers and uses this data to personalize an individual customer’s experience

what is a churn rate

the rate at which customer leave a product or service

what is coopetition

or frenemies, a situation where firms may both cooperate and compete with one another

what is the first sale doctrine

a US Supreme Court ruling stating that an individual who knowingly purchases a copy of a copyrighted work from the copyright holder receives the right to sell, display or otherwise dispose of that particular copy, notwithstanding the interests of the copyright owner

what is windowing

making content available to a given distribution channel for a specified time window, usually under a different revenue model

what is transfer pricing

the price paid when divisions of the same company transact with each other

what is decision fatigue

a phenomenon, akin to congestion effects for attention, where consumers avoid selection decisions with an overwhelming number of choices

what are A/B Tests

a randomized group of experiments used to collect data and compare performance among two options studied

what are data warehouses

a set of databases designed to support decision-making in an organization

what is disintermediation

removing an organization from a firm’s distribution channel

what is channel conflict

exists when a firm’s potential partners see that firm as a threat

What is SAP

the market leader in enterprise application software, one of the worlds largest independent software manufactuers

what does SAP enable companies to do

streamline processes, use live data, predict customer trends, connect entire businesses

what are congestion effects

when increasing numbers of users lower the value of a product or service

what is SAP S4HANA

the nest generation business suite, biggest innovation since SAP R/3

what is SAP ERP (enterprise resource planning)

enables a company to support and optimize its business processes, helps the organization run smoothly, real-time environment, collections of logically related transactions within identifiable business functions

what is master data

stored for a long time and seldom changed

• customer master

• material master

• vendor master

• general ledger accounts

compared to running SAP on premises, when companies run SAP in the cloud, which of the following is true

a. companies automatically participate in quarterly innovation upgrades

b. the hardware is at a company’s location

c. there are fewer software release cycles

d. data is privately controlled

e. all of the above

a. companies automatically participate in quarterly innovation upgrades

all SAP _____ apps are arranged in square tiles

a. fiori

b. oracle

c. R3

d. ERP

e. Analytics

a. Fiori

what are bandwidth caps

a limit imposed by the ISP on the total amount of traffic that a given subscriber can consume

what are the three application types on SAP Fiori

transactional apps

analytical apps

factsheet

what are transactional apps

access to tasks like create, change or display process with guided navigation

what are analytical apps

visual overview about busienss data

what is a factsheet

view essential information about objects and contextual navigation between related objects

what was netflix dominance due to

leveraging technology and timing

by going public, what did netflix have to do

disclose its financial position which made walmart and blockbuster enter the market

where did netlfix’s advantage come from

the scale of the firm’s selection

how can scale economies be attained

by leveraging the cost of an investment across increasing units of production

how is netflix combating riveals with exclusive content

they are offering exclusive content of their own

wha tis user data used for

• make accurate recommendations

• improve user interface design

• help the firms determine the appropriate cost for acquiring content

• shape creative decisions in original program offerings

• create ultra-tailored audience promotions

where does netflix run

on amazon’s cloud servers

what are the characteristics of disruptive innovation

small market, low margins, huge risk, huge growth potential

• challenge incumbent businesses

• creates a new market and value network

what are the characteristics of sustaining innovation

large market, high margins, low risk and some growth potential

• improve existing products that customers are eager to buy

• do not create new markets

• making better products and higher profit margins

what is a value network

those internal and external connections that an organization interacts with

which of the following data types are stored for a long time and seldom changed in SAP systems

a. customer master

b. material master

c. transaction data

d. a and b

e. all of the above

d. a and b

the SAP app system consists of three different types of apps, which of the following is not one of them:

a. transaction

b. process

c. analytical

d. fact sheet

b. process

what are disruptive technologies

technologies that create market shocks and catalyze growth (also known as disruptive innovation)

compared to running SAP on premises, when companies run SAP in the cloud, which of the following is true

a. companies automatically participate in quarterly innovation upgrades

b. the hardware is at a company’s location

c. there are fewer software release cycles

d. data is privately controlled

e. all of the above

a. companies automatically participate in quarterly innovation upgrades

what are transactions

data sets that are generated if a business transaction was executed

• includes all relevant predefined information from the master data and organizational entities

what is artificial intelligence

computer software that can mimic or improve upon functions that would otherwise require human intelligence

what is not true about SAP

a. SAP and oracle are both market leaders in enterprise application software

b. SAP has over 400,000 satisfied customers in 190 countries

c. SAP enables companies to streamline business processes

d. SAP requires workarounds to connect businesses within a company

d. SAP requires workarounds to connect businesses within a company

true or false: SAP 4HANA is the biggest innovation since SAP R3 in 1992

true

what are cryptocurrencies

a digital asset where a secure form of mathematics is used to handle transaction, control the creation of additional units and verify the transfer of assets

what is bitcoin

an open source, decentralized payment system that operates in a peer to peer environment without bank or central authority

what is blockchain

a distributed and decentralized ledger that records and verifies transactions and ownership

what is machine learning

subset of AI. results improved without explicit programming

• a type of artificial intelligence that leverages massive amounts of data so that computers can improve the accuracy of actions and prediction on their own without additional programming

what are 4 practical applications of blockchain

financial industry: asset management, insurance claims processing and cross-border payments

smart contracts: entertainment, healthcare and government

digital IDs: identity verification, secure identities for the decentralized web

internet: blockchain enabled IOT and information analysis

what are miners

a pool of users that verify and timestamp transactions in the blockchain

true or false: the three SAP apps are further divided into dynamic and statics apps

true

what is data

raw facts and figures

what are the based on functionalities types

reactive machine, limited memory, theory of mind and self-awareness

what should big firms do

build a portfolio of options on emerging technologies

• invest in startup firms

• invest in internal efforts

have conversations with

• top tier scientific researchers

• venture capitalists

• increase conversations internally

many disruptive firms are started by employees of the disrupted giants

nurture efforts in protected units

beware of the creosote bush effect

what are expert systems

leverages rules or examples to perform a task in a way that mimics applied human expertise

what is genetic algorithms

model building techniques where computers examine many potential solutions to a model

what is deep learning

type of machine learning. includes several layers of analysis between input data and output result

• uses multiple layers of interconnections among data to identify patterns and improve predicted results

• neural networks

what are the three human factors that determine ROI

speed of adoption, ultimate utilization and proficiency

what are the top barriers to AI adoption

enterprise maturity, fear of unknown, finding a starting point, vendor strategy

what is data

raw facts and figures

what is information

data presented in a context so that it can answer a question or support decision-making

what is a field or column

a column in a database table. columns represent each category of data contained in a record

what is a primary key

field(s) that uniquely identify a record

what is the creosote bush effect

a desert-dwelling bush that excretes a toxin that kills other nearby plants that may pull scarce resources away from it

what are the two threatening characteristics of disruptive technologies

performance attributes are not values by existing customers

over time their performance attributes invade established markets

what is NFT

non-fungible token

what is a record/row

a single instance of whatever the table keeps track of. a row in a database table

where does data come from

transaction processing systems, enterprise software, surveys, loyalty cards, external sources, data aggregators, social media

what is big data

the collections, storage, and analysis of extremely large, complex and often unstructured data sets that can be used by organizations to generate insights that would otherwise be impossible to make

• a general term used to describe the massive amount of data available to today’s managers

what is business intelligence

a catchall term combining aspects of reporting, data exploration, and sophisticated data modeling and analysis and ad hoc queries

what are analytics

a term describing the extensive use of data, statistical and quantitative analysis, explanatory and predictive models and fact-based management to drive decisions and actions

what is a database

a single table or a collection of related tables

what is a table

a list of data, arranged in columns and rows

what is a database management systems (DBMS)

sometimes referred to as database software; software for creating, maintaining and manipulating data

what is a database administrator (DBA)

job title focused on directing, performing or overseeing activities associated with a database or set of databases

what is a key

the fields or fields used to relate tables in a database

what are dashboards

heads-up display of critical indicators that allows managers to get a graphical galnce at key performance indicators

what is serverless computing

a type of cloud computing where a third party vendor manages servers, replication, fault-tolerance, computing scalability and certain aspects of security, freeing software developers to focus on building “business solutions” and eliminating the need to spend time and resources managing the technology complexity of much of the underlying “IT Solution”

what is a transaction processing system (TPS)

systems that record a transaction, such as a cash register sale, ATM withdrawal or product return

what is a transaction

some kind of business exchange

what is a loyalty program

systems that provide rewards and usage incentives, typically in exchange for a method that provides a more detailed tracking and recording of customer activity

• can represent a significant switching cost

what are data aggregators

firms that collect and resell data

what are legacy systems

older information systems that are often incompatible with other systems, technologies and ways of conducting business

• roadblock to turning data into information and they can inhibit firm agility, holding back operational and strategic initiatives

what is a data mart

a database or databases focused on addressing the concerns of a specific problem or business unit

What is a data lake

A catch-all term for storage and access technologies used in big data

• the systems that allow for the storage of data in both structured and raw or unfiltered formats

What is the data cloud

Cloud data warehousing, refers to a cloud service that provides tools to extract and transform data from disparate sources so that it can be interrogated as needed

what are the four advantages when using big data technologies in a data cloud

Flexibility, scalability, cost-effectiveness and fault tolerance

What does ETL mean

Extract, transform and load

• copying data from multiple, disparately organized data sources, transforming the data into a common format and loading it into a combined usable format

what is e-discovery

the process of identifying and retrieving electronic information to support litigation efforts

what are query tools

a tool to interrogate a data source or multiple sources and return a subset of data, possibly summarized, based on a set of criteria

what is python

a general purpose programming language that is also popular for data analytics

what is R

a programming language specifically created for analytics, statistical and graphical computing

what are graphical query tools

allow a user to create a query through a point-and-click or drag-and-drop interface, rather than requiring programming knowledge

what are canned reports

reports that provide regular summaries of information in a predetermined format

what are ad hoc reporting tools

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

what is data visualization

the graphical representation of data and information

what is data mining

the process of using computers to identify hidden patterns in and to build models from large datasets

what two critical conditions must be met for data mining to work

the organization must have clean, consistent data and the events in that data should reflect current and future trends

what does it mean to over-engineer

build a model with so many variables that the solution arrived at might only work on the subset of data you’ve used to create it

what is supervised learning

a type of machine learning where algorithms are trained by providing explicit examples of results sought