Question 1

Big Data is the process of______________large and varied data sets.

Accepted Answer

A)  Capturing, understanding and distributing 
B)  Detecting, merging and analyzing 
C)  Capturing, merging and analyzing 
D)  Securing, validating and storing 
E)  Researching, analyzing and storing 
A)  Capturing, understanding and distributing 
B)  Detecting, merging and analyzing 
C)  Capturing, merging and analyzing 
D)  Securing, validating and storing 
E)  Researching, analyzing and storing C

Question 2

The value of linking data from several contexts (e.g. omni-channel transactional data) is that it can provide:

Accepted Answer

A)  Big data sets for analysis. 
B)  A complete view of in-store purchasing behavior. 
C)  A complete view of online purchasing behavior. 
D)  Location mapping data. 
E)  A 360-degree view of purchasing patterns. 
A)  Big data sets for analysis. 
B)  A complete view of in-store purchasing behavior. 
C)  A complete view of online purchasing behavior. 
D)  Location mapping data. 
E)  A 360-degree view of purchasing patterns. E

Question 3

Define Big Data and describe the framework for understanding its key elements, the three "Vs", explaining what each of the "Vs" represents.

Accepted Answer

Big Data is the process of capturing, merging and analyzing large and varied data sets for the purpose of understanding current business practices and seeking new opportunities to enhance future performance. The first dimension of Big Data is Volume, which refers to the amount of data being collected. The second "V" is Velocity, with refers to the pace of data flow, both into and out of a firm. The third "V" or dimension of Big Data is Variety, and refers to the fact that data can take many forms, both structured and unstructured.

Question 4

Applications of Big Data in the real world might include which of the following?

Accepted Answer

A)  Improving customer retention rates. 
B)  Dealing with negative word of mouth. 
C)  Creating personalized promotions. 
D)  All of the above are valid applications of Big Data. 
E)  Only B and C are valid examples of Big Data. 
A)  Improving customer retention rates. 
B)  Dealing with negative word of mouth. 
C)  Creating personalized promotions. 
D)  All of the above are valid applications of Big Data. 
E)  Only B and C are valid examples of Big Data.

Question 5

The analysis that discovers interesting relationships between items purchased on a single ticket (e.g. in the same shopping cart) of consumers is:

Accepted Answer

A)  Data harmonization 
B)  Data mining 
C)  Data fusion 
D)  Neural networks 
E)  Visualization 
A)  Data harmonization 
B)  Data mining 
C)  Data fusion 
D)  Neural networks 
E)  Visualization

Question 6

The velocity dimension of Big Data refers to:

Accepted Answer

A)  The amount of data being collected. 
B)  The pace of data flow, both in and out of a firm. 
C)  The consistency of the data collection process. 
D)  The diversity of types or forms of data. 
E)  The speed at which data is transmitted through the company network. 
A)  The amount of data being collected. 
B)  The pace of data flow, both in and out of a firm. 
C)  The consistency of the data collection process. 
D)  The diversity of types or forms of data. 
E)  The speed at which data is transmitted through the company network.

Question 7

______________ analysis tries to uncover explanatory and predictive models of business performance based on the relationship between data inputs and business outcomes.

Accepted Answer

A)  Regression 
B)  Descriptive 
C)  Predictive 
D)  Perceptive 
E)  None of the above 
A)  Regression 
B)  Descriptive 
C)  Predictive 
D)  Perceptive 
E)  None of the above

Question 8

One of the key challenges of Big Data integration is the ability to merge unstructured and structured data.

Accepted Answer

A) True 
 B)False

Question 9

It is generally accepted that Big Data is three-dimensional.

Accepted Answer

A) True 
 B)False

Question 10

A wealth of barcode transaction data is collected by merchants when customers make purchases. Which one of the following scenarios does NOT represent one of the typical Big Data integration challenges in using these transactional data?

Accepted Answer

A)  Getting merchandising ideas by doing a market basket analysis 
B)  Linking the transaction data to a decision support system for ease of in-store price changes 
C)  Creating personalized promotions using the store's loyalty program 
D)  Combining barcode transaction data with customer Facebook status updates about service quality. 
E)  All of the above represent typical Big Data integration challenges 
A)  Getting merchandising ideas by doing a market basket analysis 
B)  Linking the transaction data to a decision support system for ease of in-store price changes 
C)  Creating personalized promotions using the store's loyalty program 
D)  Combining barcode transaction data with customer Facebook status updates about service quality. 
E)  All of the above represent typical Big Data integration challenges

Question 11

Which of the following best describes what prescriptive analysis is?

Accepted Answer

A)  To recommend the best course of action among the firm's various options. 
B)  To predict a future outcome with some degree of confidence. 
C)  To understand the current context. 
D)  None of the above. 
E)  Both B and C are correct descriptions of Descriptive analysis 
A)  To recommend the best course of action among the firm's various options. 
B)  To predict a future outcome with some degree of confidence. 
C)  To understand the current context. 
D)  None of the above. 
E)  Both B and C are correct descriptions of Descriptive analysis

Question 12

Businesses like banks and airlines have more data than firms in other industries due to the______________nature of their businesses.

Accepted Answer

A)  Seasonal 
B)  Consumer 
C)  Stagnant 
D)  Transactional 
E)  Services 
A)  Seasonal 
B)  Consumer 
C)  Stagnant 
D)  Transactional 
E)  Services

Question 13

Omni-channel retailing recognizes that sources of transaction data that provide purchase insights are available from:

Accepted Answer

A)  Brick-and-mortar 
B)  E-commerce 
C)  Mobile 
D)  In-store pickup 
E)  Omni-channel could include transaction data from all of the above. 
A)  Brick-and-mortar 
B)  E-commerce 
C)  Mobile 
D)  In-store pickup 
E)  Omni-channel could include transaction data from all of the above.

Question 14

Voice of the Customer (VOC) data______________are largely______________social media posts.

Accepted Answer

The answer of Voice of the Customer (VOC) data______________are largely______________social...

Question 15

Which of the following is NOT one of the three dimensions of the framework for understanding Big Data?

Accepted Answer

A)  Volume 
B)  Vastness 
C)  Velocity 
D)  Variety 
E)  All of the above are dimensions of the framework 
A)  Volume 
B)  Vastness 
C)  Velocity 
D)  Variety 
E)  All of the above are dimensions of the framework

Question 16

What statement best describes what prescriptive analysis is used for?

Accepted Answer

A)  To uncover explanatory and predictive models of business performance based on the relationship between data inputs and business outcomes. 
B)  To understand business performance. 
C)  To extract patterns from large datasets. 
D)  To determine a set of high-value alternative actions for the purposes of improving business performance. 
E)  To determine if a customer can be cross-sold or up-sold a product at the point of purchase. 
A)  To uncover explanatory and predictive models of business performance based on the relationship between data inputs and business outcomes. 
B)  To understand business performance. 
C)  To extract patterns from large datasets. 
D)  To determine a set of high-value alternative actions for the purposes of improving business performance. 
E)  To determine if a customer can be cross-sold or up-sold a product at the point of purchase.

Question 17

Firms investing in the capture, storage and analysis of large and varied data sets are forward-looking and cutting edge.

Accepted Answer

A) True 
 B)False

Question 18

A key challenge of Big Data is integration. Which of the following is NOT one of the areas in which companies are challenged with Big Data integration?

Accepted Answer

A)  Integration of a firm's internal transaction data 
B)  Access to data 
C)  Analytic skills 
D)  Retrieval of data 
E)  Integration of data within and between firms 
A)  Integration of a firm's internal transaction data 
B)  Access to data 
C)  Analytic skills 
D)  Retrieval of data 
E)  Integration of data within and between firms

Question 19

Data such as blogger reviews or social media comments is known as______________data.

Accepted Answer

A)  Structured 
B)  Random 
C)  Collected 
D)  Unstructured 
E)  Big 
A)  Structured 
B)  Random 
C)  Collected 
D)  Unstructured 
E)  Big

Question 20

The analysis technique that involves seeing how a dependent variable might change when one or more independent variables changes, such as to see if a customer can be cross-sold or up-sold at the point of purchase is known as:

Accepted Answer

A)  Purchase analysis 
B)  Regression analysis 
C)  Descriptive analysis 
D)  Time series analysis 
E)  Simulation analysis 
A)  Purchase analysis 
B)  Regression analysis 
C)  Descriptive analysis 
D)  Time series analysis 
E)  Simulation analysis

Big Data is the process of______________large and varied data sets.

The value of linking data from several contexts (e.g. omni-channel transactional data) is that it can provide:

Define Big Data and describe the framework for understanding its key elements, the three "Vs", explaining what each of the "Vs" represents.

Applications of Big Data in the real world might include which of the following?

The analysis that discovers interesting relationships between items purchased on a single ticket (e.g. in the same shopping cart) of consumers is:

The velocity dimension of Big Data refers to:

______________ analysis tries to uncover explanatory and predictive models of business performance based on the relationship between data inputs and business outcomes.

One of the key challenges of Big Data integration is the ability to merge unstructured and structured data.

It is generally accepted that Big Data is three-dimensional.

A wealth of barcode transaction data is collected by merchants when customers make purchases. Which one of the following scenarios does NOT represent one of the typical Big Data integration challenges in using these transactional data?

Which of the following best describes what prescriptive analysis is?

Businesses like banks and airlines have more data than firms in other industries due to the______________nature of their businesses.

Omni-channel retailing recognizes that sources of transaction data that provide purchase insights are available from:

Voice of the Customer (VOC) dataare largelysocial media posts.

Which of the following is NOT one of the three dimensions of the framework for understanding Big Data?

What statement best describes what prescriptive analysis is used for?

Firms investing in the capture, storage and analysis of large and varied data sets are forward-looking and cutting edge.

A key challenge of Big Data is integration. Which of the following is NOT one of the areas in which companies are challenged with Big Data integration?

Data such as blogger reviews or social media comments is known as______________data.

The analysis technique that involves seeing how a dependent variable might change when one or more independent variables changes, such as to see if a customer can be cross-sold or up-sold at the point of purchase is known as:

The Role of Marketing Research

The Research Process and Ethical Concerns

Problem Formulation

Exploratory Research

Decision Support Systems

Using External Secondary Data

Conducting Causal Research

Collecting Descriptive Primary Data

Collecting Data by Observation

Collecting Data by Communication

Asking Good Questions

Designing the Data Collection Form

Developing the Sampling Plan

Data Collection Enhancing Response Rates While Limiting Errors

Data Preparation for Analysis

Analysis and Interpretation Individual Variables Independently

Analysis and Interpretation Multiple Variables Simultaneously

The Oral Research Presentation

The Written Research Report

Filters

Exam 6: Decision Support Systems Working With Big Data

Big Data is the process of______________large and varied data sets.

The value of linking data from several contexts (e.g. omni-channel transactional data) is that it can provide:

Define Big Data and describe the framework for understanding its key elements, the three "Vs", explaining what each of the "Vs" represents.

Applications of Big Data in the real world might include which of the following?

The analysis that discovers interesting relationships between items purchased on a single ticket (e.g. in the same shopping cart) of consumers is:

The velocity dimension of Big Data refers to:

______________ analysis tries to uncover explanatory and predictive models of business performance based on the relationship between data inputs and business outcomes.

One of the key challenges of Big Data integration is the ability to merge unstructured and structured data.

It is generally accepted that Big Data is three-dimensional.

A wealth of barcode transaction data is collected by merchants when customers make purchases. Which one of the following scenarios does NOT represent one of the typical Big Data integration challenges in using these transactional data?

Which of the following best describes what prescriptive analysis is?

Businesses like banks and airlines have more data than firms in other industries due to the______________nature of their businesses.

Omni-channel retailing recognizes that sources of transaction data that provide purchase insights are available from:

Voice of the Customer (VOC) data______________are largely______________social media posts.

Which of the following is NOT one of the three dimensions of the framework for understanding Big Data?

What statement best describes what prescriptive analysis is used for?

Firms investing in the capture, storage and analysis of large and varied data sets are forward-looking and cutting edge.

A key challenge of Big Data is integration. Which of the following is NOT one of the areas in which companies are challenged with Big Data integration?

Data such as blogger reviews or social media comments is known as______________data.

The analysis technique that involves seeing how a dependent variable might change when one or more independent variables changes, such as to see if a customer can be cross-sold or up-sold at the point of purchase is known as:

The Role of Marketing Research

The Research Process and Ethical Concerns

Problem Formulation

Exploratory Research

Decision Support Systems

Using External Secondary Data

Conducting Causal Research

Collecting Descriptive Primary Data

Collecting Data by Observation

Collecting Data by Communication

Asking Good Questions

Designing the Data Collection Form

Developing the Sampling Plan

Data Collection Enhancing Response Rates While Limiting Errors

Data Preparation for Analysis

Analysis and Interpretation Individual Variables Independently

Analysis and Interpretation Multiple Variables Simultaneously

The Oral Research Presentation

The Written Research Report

Filters

Voice of the Customer (VOC) dataare largelysocial media posts.