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

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Question 41

Multiple Choice

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Knowledge is defined as:

A) raw facts and figures.
B) the data presented in a context so that it can answer a question or support decision making.
C) the insight derived from experience and expertise.
D) a listing of primary data.
E) the process of breaking a complex topic into smaller parts.

F) B) and E)
G) A) and B)

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Question 42

True/False

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OLAP technology is primarily used for transaction processing.

A) True
B) False

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Question 43

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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.

Why would a firm choose Hadoop for a big data project instead of using conventional relationial databases?

What are the issues to be addressed in order to design, develop, deploy, and maintain data warehouses and data marts?

It can be said many organizations are data rich but information abundant.

If a customer pays a retailer in cash, he is likely to remain a mystery to the retailer because his name is not attached to the money. Retailers can tie the customer to cash transactions and track the customer's activity if they can convince the customer to use a _____.

Wal-Mart supplements its huge data assets with additional data provided by information brokers like Information Resources and ACNielsen.

Random occurrences in data mining results can be detected by dividing the data and building a model with one portion and using another portion to verify the results.

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.

Tesco is the planet's largest retailer.

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

Advantages based on capabilities and data that others can acquire are long-lived.

While spreadsheets are popular tools, they cannot effectively be used for "what-if" analysis.

_____ refers to the process of combining aspects of reporting, data exploration and ad hoc queries, and sophisticated data modeling and analysis.

Why do firms need to create separate data repositories for their reporting and analytics work?

How has Wal-Mart leveraged information technology to become the world's largest retailer?

Skittish and untrusting managers should realize that the first findings of analytics always reveal an optimal course of action.

_____ is a method of querying and reporting that takes data from standard relational databases, calculates and summarizes the data, and then stores the data in a special database called a data cube.

A(n) _____ refers to a heads-up display of critical indicators that allow managers to get a graphical glance at key performance metrics.