ARM 400 - Segment A - Chapters 1, 2, & 3

ARM 400 - Segment A - Chapters 1, 2, & 3 Sets of data that are too large to be gathered and analyzed by traditional methods - ANSWER Big Data An innovative item that uses sensors; wireless sensor networks; and data collection, transmission, and analysis to further enable the item to be faster, more useful, or otherwise improved - ANSWER Smart Product A network of objects that transmit data to and from each other without human interaction - ANSWER Internet of Things (IoT) Information, technology, and storage services contractually provided from remote locations, through the internet or another network, without a direct server connection. - ANSWER Cloud Computing A distributed digital ledger that facilitates secure transactions without the need for a third party - ANSWER Blockchain Text Mining - ANSWER Obtaining information through language recognition The use of technological devices in vehicles with wireless communication and GPS tracking that transmit data to businesses or government agencies; some return information for the driver - ANSWER Telematics Amount of risk an organization is willing to take on in order to achieve an anticipated result or return - ANSWER Risk Appetite A technique to quantify financial risk by measuring the likelihood of losing more than a specific dollar amount over a specific period of time - ANSWER Value at risk (VaR) the total cost incurred by an organization because of the possibility of accidental loss - ANSWER cost of risk