CIS 2200 CHAPTER 1 SELF-STUDY |55 QUESTIONS AND ANSWERS|GUARANTEED SUCCESS

information silo what occurs when one business unit is unable to freely communicate with other business units making it difficult or impossible for organizations to work cross-functionally fact is the confirmation or validation of an event or object Internet of Things (IoT) what is a world where interconnected internet-enabled devices or "things" have the ability to collect and share data without human intervention machine-to-machine (M2M) which of the following terms is commonly associated with the Internet of Things structured data what has a defined length, type, and format and includes numbers, datas, or strings such as Customer Address unstructured data what type of data is not defined and does not follow a specified format and is typically free-form text such as emails, Twitter tweets, and text messages snapshot what is the view of data at a particular moment in time information is the data converted into a meaningful and useful context the best-selling product, best customer, and worst-selling product information (Example) dynamic report what changes automatically during creation Business intelligence (BI) what is information collected from multiple sources such as suppliers, customers, competitors, partners, and industries that analyzes patterns, trends, and relationships for strategic decision making. what was the lowest sales per week compared with the economic interest rate? business intelligence (BI) example predictive analytics what extracts information from data and uses it to predict future trends and identify behavioral patterns behavioral analytics uses data about people's behaviors ti understand intent and predict future actions knowledge what includes the skills, experience, and expertise, coupled with information and intelligence that creates a person's intellectual resources knowledge workers are individuals valued for their ability to interpret and analyze information input data, click-stream data, gaming data human-generated structured data big data what is a collection of large, complex data sets, including structured and unstructured data, which cannot be analyzed using traditional database methods and tools true when they lacked data, managers often found themselves making business decisions about how many products to make, how much material to order, or how many employees to hire based on intuition or gut feeling true a report can cover a wide range of subjects or specific subject for a certiain time period or event static report created once based on data that does not change. these reports can include a sales report from last year or salary from five years ago true the value of information is only as good as the people who make use of the information variable is a data characteristic that stands for a value that changes or various over time by manipulating variable how will a business estimate the impact on profits from increases or decreases in costs information primarily focuses on internal variables. BI manipulates multiple variable including both internal and external variable what is the primary difference between information and business intelligence analytics the science of fact-based decision making information and intuition what are the two primary resources knowledge workers use to make decisions teaching, cutting hair, waiting tables three examples of services production is the process where a business takes raw materials and processes them or converts them into a finished product for its goods or services productivity is the rate at which goods and services are produced 1) a likely increase in profits 2) rise in productivity two benefits a business that sold hamburgers would experience if it could produce a hamburger with less expensive inputs or produce more hamburgers with the same inputs Systems Thinking what is a way of monitoring the entire system by viewing multiple inputs being processed or transformed to produce outputs while continuously gathering feedback on each part Feedback what is information that returns to its original transmitter (input, transform, or output) and modifies the transmitter's actions a car engine which of the following is a good example of a system, since removing one part will cause the entire system to stop working Management Information Systems (MIS) what is a business function that moves information about people, products, and processes across the company to facilitate decision making and problem solving Business Unit is a segment of a company representing a specific business function. Accounting records, measures, and reports monetary transactions finance deals with strategic financial issues including money, banking credit, investments, and assets human resources maintains policies, plans, and procedures for the effective management of employees Marketing supports sales by planning, pricing, and promoting goods or services Operations Management (OM) manages the process of converting or transforming resources into goodds or services sales performs the function of selling goods or services point-of-sale data, sensor data, web log data which of the following are types of machine-generated structured data Goods are material products that customers will buy to satisfy a want or need. 1) Books 2) Videos 3) Shoes 1) Amazon 2)Netflix 3) Zappos Information Age what age are we currently living in when infinite quantities of facts are widely available to anyone who can use a computer