IS Quiz 3

Big data

Data collections too enormous and complex for traditional management software and processes.

Analytics

The extensive use of data and quantitative analysis to support fact-based decision making.

Big Data; Analytics

By combining __________ with __________, organizations learn to operate more efficiently, provide

valuable benefits to their stakeholders, meet customer needs, identify new opportunities, and gain a competitive

advantage.

velocity; veracity

Five key characteristics of big data are volume, __________, value, variety, and _______.

Variety

__________ is a characteristic of the format of big data, in which some of the data is structured and some is unstructured.

Veracity

_________ is a measure of the quality of data, and its level is higher when data is gathered from credible sources, cleaned to remove inaccuracies, and regularly updated to remain current.

Big data may come from physical documents such as books, newspapers, and letters

The following statements best describe big data sources, except:

Data warehouse

A_______________ is a large database that holds business information from many sources in an enterprise, covering all aspects of the company's processes, products, and customers.

A data warehouse holds recent data, meaning two months or less

The following are characteristics of a data warehouse, except:

Data quality

__________ is considered one of the biggest issues in data warehousing

Extract

In the _____________ stage of the ETL process, data that fails to meet expected patterns or values may be rejected from further processing (e.g., blank or nonnumeric data).

Data mart

A major retailer stores pharmacy sales data, a subset of data warehouse data, which is most likely a ____________.

Data lake

A __________ takes a "store-everything" approach to big data, saving all the data in its raw and unaltered form. Its contents can include business transactions, clickstream data, sensor data, server logs, social media, videos, and more.

Hadoop

Open-source software with modules for storing and processing extremely large datasets.

Data visualization

Presentation of data in a pictorial or graphical format to reveal trends and patterns.

Descriptive analytics

Which of the four common types of business analytics analyzes historical data to analyze what happened?

Key performance indicators

Stella's Bakery wants to track progress toward reaching its strategic business goals. One such goal is to increase the average transaction value by 15% within the next year. The CEO and management should use which of the following to track this goal?

The following describe descriptive statistics, except:

involves understanding why by forming a hypothesis, looking for relationships, and performing analysis.

A positive correlation indicates a relationship where the two variables move in the same direction.

Which of the following statements about correlation for two variables is true?

Regression analysis

____________ can analyze the relationship between variables. It is a proven method for determining which variables have an impact on the dependent variable.

data mining; machine learning

Predictive analytics combines statistical modeling techniques, __________, and __________ to make predictions.

Decision tree

An algorithm used to create and visualize classification and regression modeling tasks.

With data mining, the system adapts predictions and decisions without specific programming instructions.

The following statements about data mining are true, except:

Uber uses a dynamic pricing model to analyze real-time data about user demand, traffic, driver availability, route distance, and more.

Which of the following best illustrates the use of machine learning for business?

Monte Carlo simulation

Which business intelligence tool enables you to see a spectrum of thousands of possible outcomes, considering not only the many variables involved but also the range of potential values for each of those variables?

The following statements are true about decision making and business intelligence, except:

Companies should engage and train professionals with either business expertise or analytical skills to analyze data effectively and make decisions

Linear programming

Jenna uses Microsoft Excel Solver to find the optimal price for tickets to a school dance. The expenses of the hall rental, food, and linens, maximum number of attendees, and ticket price are entered into the program to help solve the problem. What type of business intelligence technique is Jenna most likely using?s.

Cross-Industry Process for Data Mining

Which data mining technique includes the following steps: business understanding, data understanding, data preparation, modeling, evaluation, and deployment?

genetic algorithm?

a technique that employs a natural selection-like process to find approximate solutions to optimization and search problems

A tax accounting firm buys paper from an office supply retailer

Which of the following best describes a B2B e-commerce transaction?

m-commerce (Mobile commerce)

Ramandeep purchases concert tickets from a ticket app on her cell phone. Which of the following best describes this type of transaction?

Omnichannel

An organization that aspires to have multiple interconnected channels of communication available to customers is aspiring to what type of strategy?

E-commerce allows businesses to reach more prospects, reduce costs, scale easily, and provide around-the-clock access to customers.

Which of the following statements is true?

Scalability

___________ describes an organization's ability to control costs while maintaining performance and quality as demand changes.

limited market reach

The following are advantages of e-commerce except:

lower overhead costs

What is a key advantage of e-commerce over physical, "brick-and-mortar" stores?

increasing the need for inventory

E-commerce reduces costs in the following ways except:

Scaling down can be costly because cloud service providers lock companies in to long-term commitments.

Which statement is not true about scalability as it relates to e-commerce?

Scalability

The following pose challenges to e-commerce except:

Cybersecurity

E-commerce companies need to consider ______________, which is the protection against unauthorized and illegal use of digital data.

Examine

Which of the following is not one of the five National Institute of Standards and Technology (NIST) Framework functions?

Identity theft; PII

Compromise of personal data on e-commerce platforms can lead to _________, the use of a person's _____________ without their permission.

Abandoned carts reserve items that can't be sold to other customers, tying up inventory.

What is the most significant challenge with e-commerce shopping cart abandonment?

order placement, warehouse processing, order shipping, order delivery

What are the steps in the order fulfillment process?

To fulfill orders quickly and economically, smaller e-commerce retailers like Francesca's can contract with a service such as Amazon Fulfillment Services to perform order fulfillment.

Francesca's Home Décor is a small online business that sells pictures, candles, and other home products. The company is having a tough time competing with other, larger online retailers with respect to fulfillment. What can Francesca do to better compete in order fulfillment?

difficult entry into the e-commerce market due to website development and hosting expenses

Competition in e-commerce is a challenge because of the following factors except:

A competitor can deliver its products to the customer in two days—four days faster than Three Feathers Furniture

Three Feathers Furniture can evaluate its e-commerce business using SWOT analysis. Which of the following is an example of a threat to Three Feathers Furniture?

Electronic data interchange (EDI)

What is the approach to automate and streamline operations and communications with trading partners?

Consortium-operated

Which electronic data interchange (EDI) platform is managed by a group of traditionally competing companies with common procurement needs?

Gig economy

_______________ is a labor market where work is performed by temporary, part-time, and independent contract workers

Market segmentation

Web and social media advertisers use e-commerce data for _______________ to identify specific markets and target them with tailored advertising messages.

Marketing analytics

___________ tools allow e-commerce businesses to gather and analyze data from a variety of online sources.

Gamification marketing

Target has a reward program in its mobile app where customers can earn a $10 gift card if they spend $75 or more in each of three separate transactions. A progress "sticker" is placed in the app to show progress toward the goal. What type of marketing technique is Target using?

Affiliate marketing

Huda Kattan uses various social media platforms, including Instagram, YouTube, and her own cosmetics blog, to promote her own brands as well as the brands of others with which she has strategic partnerships. She earns commissions for sales generated through links to the products she promotes. What type of marketing technique is she using?

Cost per click (CPC)

Mobile ad impressions are generally purchased using one of four major models. Which of the following best describes when organizations are charged for every click on their ad?

Click-through rate (CTR)

What metric is a main measure of success for the number of users reached by an online advertisement?

community, content, commerce

The most successful e-commerce models have which three basic components?ls have which three basic components?

Search engine optimization

What technique optimizes a website's content, structure, and relevance to improve its visibility and ranking to draw customers to the website?