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CIMA E1 > Section C > Flashcards

Section C Flashcards

1
Q

What are the three different levels of decision making?

A

Strategic
Tactical
Operational

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2
Q

What is strategic decision making?

A

Long term, complex decisions

Director and Senior Management

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3
Q

What is tactical decision making?

A

Medium Term

Strategic plan into action

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4
Q

What is operational decision making?

A

Day to day decisions

Junior levels of management

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5
Q

What are the benefits of enhanced information?

A 
Greater customer insight
Potential for new sources of competitive advantage
New business models and revenue streams
Early warning of problems
Customised products for customer needs
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6
Q

What is marketing?

A

Management process that identifies, anticipates and supplies customer needs efficiently and profitability.

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7
Q

How can technology help marketing?

A 
Pricing
Targeting
Products
Segmentation
Promotions 
Customer Relationship Management
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8
Q

How can technology help operations?

A 
Cost saving
Forecasting
Improved Service
Supply Chain
Preventative Maintenance
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9
Q

What are digital assets?

A

Assets help by business in digital form that do not have physical substance

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10
Q

What does DAM stand for?

A

Digital Management System

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11
Q

What are the features of a DAM system?

A

Database specifically designed to manage digital assets
Central location for digital asset storage and access
Allows access only to those authorised

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12
Q

What are the benefits of a DAM system?

A

Strengthen relationship across teams
Improve services to customers
Provides data on usage
Cost and space saving

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13
Q

What CGMA skills are needed by finance professionals?

A 
Technical
Business
People
Leadership
Digital
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14
Q

What are the three stages in transferring data?

A

Extraction, Transformation and Loading (ETL)

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15
Q

What is extraction?

A

Process of harvesting data from source databases and locations

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16
Q

What is transformation?

A

Data will be transformed into a format suitable for destination database

17
Q

What is loading?

A

Newly cleaned and prepared data being uploaded to destination database ready for use

18
Q

What is data profiling?

A

Before extraction

Data analysed to understand content, format and structure

19
Q

What is a data warehouse?

A

Store for data that’s been loaded in the ETL process

20
Q

What is Business Intelligence (BI)?

A

Technology driven process of analysing business data to create insightful and actionable information to help improve operations or products of a business

21
Q

What is a data model?

A

Considers data of an organisation in a systematic way that allows it to be stored and retrieved in an efficient and effective way

22
Q

What are the advantages of data modelling?

A

Foundation for handling data
Enforces business rules
Consistency
Quality of data enhanced

23
Q

What are the three levels of data modelling?

A

Conceptual
Logical
Physical

24
Q

What is the conceptual level of data modelling?

A

Considering Business data and its requirements

25
Q

What is the logical level of data modelling?

A

Develop technical map of rules and data structures

26
Q

What is the physical level of data modelling?

A

How defined system will be implemented using a database modelling system (DBMS)

27
Q

What does DBMS stand for?

A

Database modelling system

28
Q

What is data manipulation?

A

Process of changing data to make it easier to read

29
Q

What is data strategy?

A

Coherent approach for organising, governing, analysing and deploying an organisations information assets.

30
Q

What are data scientists?

A

Individuals with ability to extract meaning from and interpret data, which requires tools and methods from stats and machine learning.

CIMA E1 (9 decks)

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