Chapter 1

Question 1

The confirmation or validation of an event or object

Answer 1

Fact

Question 2

A time infinite quantities of facts are widely available to anyone who can use a computer

Answer 2

Information Age

Question 3

A world where interconnected Internet-enabled devices or “things” have the ability to collect and share data without human intervention

Answer 3

Internet of Things (IoT)

Question 4

Refers to devices that connect directly to other devices

Answer 4

Machine-to-machine (M2M)

Question 5

1. Data
2. Information
3. Business intelligence
4. Knowledge

Answer 5

The Core drivers of the information age

Question 6

Raw facts that describe the characteristics of an event or object

Answer 6

Data

Question 7

A collection of large, complex datasets, which cannot be analyzed using traditional database methods and tools

Answer 7

Big Data

Question 8

The uncertainty of data, including biases, noise, and abnormalities

Answer 8

Variety

Question 9

The scale of data

Answer 9

Volume

Question 10

The analysis of streaming data as it travels around the internet

Answer 10

Velocity

Question 11

has a definite length, type, and format and includes numbers, dates, or strings such as Customer Address format

Answer 11

Structured Data

Question 12

Created by a machine without human intervention

Answer 12

Machine-generated data

Question 13

Data that humans, in interaction with computers, generate

Answer 13

Human-generated data

Question 14

Not defined, does not follow a specified format, and is typically free-form text

Answer 14

Unstructured data

Question 15

Satellite images, scientific atmosphere data, and radar data

Answer 15

Machine-generated unstructured data

Question 16

emails, tweets, and texts

Answer 16

Human-generated unstructured data

Question 17

Data converted into a meaningful and useful context

Answer 17

Information

Question 18

A data characteristic that stands for a value that changes or varies over time

Answer 18

Variable

Question 19

A document containing data organized in a table, matrix, or geographical format allowing users to easily comprehend and understand information

Answer 19

Report

Question 20

Changes automatically during creation

Answer 20

Dynamic report

Question 21

Created once based on data that does not change

Answer 21

Static report

Question 22

Information collected from multiple sources such as suppliers, customers, competitors, partners, and industries that analyze patterns, trends, and relationships for strategic decision making

Answer 22

Business intelligence

Question 23

Collects, queries, and consumes organizational data to uncover patterns and provide insights for strategic business decision making

Answer 23

Data analyst

Question 24

1. Understanding math and statistics
2. Coding skills to work with data
3. Business area subject matter expertise

Answer 24

Three Key Skills of a Data Analyst

Question 25

The science of fact-based decision making

Answer 25

Analytics

Question 26

The scientific process of transforming data into insight for making better decisions

Answer 26

Business analytics

Question 27

Extracts knowledge from data by performing statistical analysis, data mining, and advanced analytics on big data to identify trends, markets, changes, and other relevant information

Answer 27

Data scientist

Question 28

1. Descriptive analytics 2. Diagnostic analytics 3. Predictive analytics 4. Prescriptive analytics

Answer 28

The Four Categories of Analytics

Question 29

Describes part performance and history

Answer 29

Descriptive Analytics

Question 30

Examines data or content to answer the question, "why did it happen?"

Answer 30

Diagnostic Analytics

Question 31

Extracts information from data and uses it to predict future trends and identify behavioral patterns

Answer 31

Predictive analytics

Question 32

Creates models including the best decision to make or course of action to take

Answer 32

Prescriptive Analytics

Question 33

Skills, experiences, and expertise coupled with information and intelligence that creates a person's intellectual resources

Answer 33

Knowledge

Question 34

The human, structural, and recorded resources available to the organization

Answer 34

Knowledge assets

Question 35

Helps harness the wealth of knowledge in the organization

Answer 35

Knowledge organization

Question 36

Individual valued for their ability to interpret and analyze information

Answer 36

Knowledge worker

Question 37

When one business is unable to freely communicate with other business units. This makes it difficult/impossible to work cross-functionally

Answer 37

Data silo

Question 38

The ability for data to be collected, analyzed, and accessible to all users

Answer 38

Data democratization

Question 39

Material items or products that customers will buy to satisfy a want or need

Answer 39

Goods

Question 40

Tasks performed by people that customers will buy to satisfy a want or need

Answer 40

Services

Question 41

The process where a business takes raw materials and processess them or converts them into a finished product for its goods or services

Answer 41

Production

Question 42

A way of monitoring the entire system by viewing multiple inputs while continuously gathering feedback on each part

Answer 42

System thinking

Question 43

A business function, accounting and human resources, which moves information about people, products, and processes across the company to facilitate decision-making and problem-solving

Answer 43

Management Information Systems (MIS)

Question 44

A product or service that an organization's customer place a greater value on than similar offerings from a competitor

Answer 44

Competitive advantage

Question 45

occurs when an organization can significantly impact its market chare by being first to market with a competitive advantage

Answer 45

First-mover advantage

Question 46

evaluates project position

Answer 46

SWOT analysis

Question 47

Evaluates industry attractiveness

Answer 47

The Five Forces Model

Question 48

Choose business focus

Answer 48

The Three Generic Strategies

Question 49

Executes business strategy

Answer 49

Value Chain Analysis