Test Bank Exam for Business Analytic-Questions with Answers

Input is the information an information system produces and displays in the format most useful to an organization. True or False? - Answer-False The terms "business intelligence (BI) means to transform data into actionable intelligence that informs an organization's strategic and tactical business decision. - Answer-True Information System is an integrated set of components for collecting, storing, processing data and providing information, knowledge, and digital products. - Answer-True _____ is the raw material in the production of information. - Answer-Data Which of the following is considered information? a) Quantity sold b) Rate sold c) Best-selling item last month d) All of these - Answer-Best-selling item last month Which four elements are included in systems? - Answer-Input, Process, Output, and Feedback. Operating System is application software. True or false? - Answer-False Structurally, internet is a ___________ - Answer-WAN In a database, data is stored as ___________ - Answer-tables ____________ is NOT a quality of information. - Answer-Being understandable ______________ is understanding a set of information and make it useful to support a task or solve problems. - Answer-Knowledge Understanding of how age, gender, marital status, income, etc. effect paying off debt in the banking business is ___________ - Answer-Knowledge Changing and manipulating the data in an information system is called ______ - Answer-data processing According to Porter's value chain analysis, which of the below provides customer support after the sale of goods and services? - Answer-Service All of the following are part of Porter's Three Generic Strategies, except: - Answer-Business process strategy A(n) value chain is a set of activities that an organization carries out to create value for its customers. - Answer-True The Global Bike Company (GBI) is currently offering a marketing strategy for potential new bike customers. GBI offers customers who purchase an off road bike with free safety helmet and knee pad. In terms of Porter's Five Forces model, what is GBI attempting to achieve with this marketing strategy - Answer-Decrease buyer power If supplier power is high, how can the supplier directly influence the industry? - Answer-All of those choices Joe Doe is a freshman at GGC. Joe is frustrated by the cost of books, tuition and he also need to buy an expensive laptop for classes. In order to save money, Joe build a Facebook group finding other students who need to purchase laptop so he can approach different computer companies to see if his group qualifies for a deep group discount. What business strategy is Joe using in this case? - Answer-Increase buyer power The 'O' in SWOT analysis stands for: - Answer-Opportunity Product differentiation occurs when a company develops unique differences in its products with the intent to influence demand. Which of the following is a reason why a company would use product differentiation? - Answer-Reduce rivalry