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MIS 3305 > EXAM 2 > Flashcards

EXAM 2 Flashcards

1
Q

TRUE/FALSE: Il Makiage uses a proactive marketing strategy and primarily aims to attract new customers

A

FALSE. Il Makiage implements a reactive marketing strategy that targets repeat customers.

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2
Q

What is a threat facing Oddity and its technological innovation?

A

Fast Follower Problem

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3
Q

How many stints has Bob Iger spent as Disney as CEO?

A

2

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4
Q

Which of these is NOT owned by Disney?

A

Netflix

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5
Q

What industry is pioneering the use of skill-based hiring?

A

Technology

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6
Q

What percentage of employers are looking for badges on candidates’ LinkedIn pages?

A

45%

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7
Q

What are the two services provided by Alteryx?

A

Desktop and Cloud

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8
Q

What is Alteryx’s company goal?

A

To make data-driven decisions with better outcomes

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9
Q

What does AWS stand for?

A

Amazon Web Services

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10
Q

In Amazon’s value chain, which stage involves transforming raw materials and components into finished products that are ready for distribution to customers?

A

Operations

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11
Q

What was the first John Deere product?

A

A Steel Plow

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12
Q

Which AI company is a John Deere subsidiary?

A

Blue River

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13
Q

Which of these is not a Fintech example?

A

Netflix

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14
Q

TRUE/FALSE: Fintech is composed of specialized software and algorithms that are used on computers and smartphones

A

TRUE

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15
Q

__________ had the best-performing stock in the S&P 500 from ______________

A

Netflix; 2010-2019

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16
Q

What was Netflix’s IPO price?

A

$15 per share

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17
Q

When did Netflix go public?

A

May 23, 2002

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18
Q

WHat did Netflix start as?

A

A DVD Rental Business

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19
Q

In 2023, how many MILLION subscribers does Netflix have?

A

240-245

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20
Q

Who is Netflix’s CEO

A

Reed Hastings

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21
Q

Netflix’s biggest competitors in 2002

A

Walmart and Blockbuster

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22
Q

Netflix dominance was due to

A

Leveraging technology and timing

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23
Q

Where was Reed Hastings appointed after his success?

A

Board of Directors for both Microsoft and Facebook

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24
Q

The Quikster Debacle

A

Tried to split Netflix into 2 seperate services, lost 1M customers in 3 months

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25
Q

How was the Quikster Debacle resolved?

A

Originals and Expanding Availability

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26
Q

How much money did Netflix lose within minutes of Disney+ announcing that they would be offering a cheaper price?

A

8 BILLION

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27
Q

Who is the largest subscription streaming service?

A

Netflix

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28
Q

Netflix’s 3 Key Mutually Reinforcing Resources:

A

Brand, Scale, Data Asset (Cinematch)

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29
Q

What are brands built on?

A

Customer EXPERIENCE

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30
Q

Netflix was in what top rankings?

A

ACSI and Neilsen

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31
Q

Blockbuster and Walmart had _______________________ but that didn’t translate to ____________________

A

brand awareness, industry advantage

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32
Q

Netflix remained segment leader, as it had

A

Early entry and market execution

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33
Q

What helped grow Netflix’s scale?

A

58 distribution centers that could deliver overnight to 97% of the US population

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34
Q

Netflix had how many DVDs compared to the average 3,000?

A

125,000

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35
Q

The Long Tail

A

The large number of products unavailable through conventional retail stores

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36
Q

2 Factors that support The Long Tail

A

Selection attracts, Internet offers large inventory efficiencies

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37
Q

Example of collaborative filtering for Netflix

A

Cinematch

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38
Q

Collaborative Filtering

A

Software that monitors trends and applies it to user experiences

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39
Q

Recommended titles were ___% of the movies users ended up watching on Netflix

A

60

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40
Q

Cinematch operational advantage

A

Examines inventory availability and makes recommendations

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41
Q

Scale economies can be attained by:

A

leveraging the cost of an investment to units of production

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42
Q

Having a bigger customer base enables firms to have better:

A

Cost structure, profits, pricing

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43
Q

Netflix leverages user data to provide

A

Better customer experience, build brands

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44
Q

Netflix’s shift to a streaming model (from atoms to bits) is limited by:

A

(AACLOP) Availability, Acquisition costs, Competitors, Legal/Regulatory environment, Opportunities for revenue, Potential partners

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45
Q

Netflix switching from DVD to Internet caused stocks to drop from

A

$304 to $50

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46
Q

Digital Products have what type of costs?

A

Marginal Costs

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47
Q

First Sale Doctrine

A

a firm can distribute physical copies of legally acquired copyright-protected products

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48
Q

First Sale Doctrine allows firms to

A

lend products without paying royalties

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49
Q

__ firms make ___% of US media

A

6; 90%

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50
Q

Title availability is hindered by:

A

Windowing

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51
Q

Windowing

A

Content is available to a given distribution channel for a specified time window

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52
Q

Content providers are the sole source for

A

Unique Titles

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53
Q

The media industry is an

A

Oligopoly

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54
Q

Since Netflix is a streaming service, they must pay consistently for:

A

A streaming license

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55
Q

Netflix costs of acquiring content
increased

A

43x the amount it had spent the 5 years prior

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56
Q

Offering ‘Originals’ is what type of integration?

A

Vertical

57
Q

Netflix offers more programming than

A

Pay Channels

58
Q

Netflix’s user data is used to:

A

Recommend, Improve design, Leverage costs, Make creative decisions, Audience Promos

59
Q

Why is Netflix streaming on more devices than competitors?

A

They’re making their tech available to hardware firms

60
Q

2 big issues with international expansion

A

Licensing costs, Legal requirements

61
Q

Threats Netflix faces from ISPs

A

Bandwidth caps, Quality charging

62
Q

Netflix runs on

A

Amazon’s Cloud servers

63
Q

Netflix handles ___________, Amazon handles _____________

A

Software; Hardware

64
Q

What type of software does Netflix have?

A

Open Source

65
Q

Microservices Architecture

A

App split into little parts that have their own APIs to control

66
Q

API stands for

A

Application Programming Interface

67
Q

Codec

A

Technology used in media compression

68
Q

Disruptive technologies create

A

Market shocks and growth

69
Q

7 Companies that dont require a college degree

A

IBM, Accenture, OKTA, Bank of America, DELL, Google, Delta

70
Q

Do managers typically respond to threats of disruptive tech?

A

NO

71
Q

Disruptive Innovation Goals

A

Challenge and Create

72
Q

Sustaining Innovation Goals

A

Improve and Build

73
Q

Value Network

A

Internal/External Connections an organization interacts with

74
Q

Does technology alone create disruption?

A

NO, must also have strong business model

75
Q

2 Threatening Characteristics of Disruptive Tech

A

Are not valued, Invades established markets

76
Q

What shift brought about disruptive technologies?

A

Shift from analog to digital

77
Q

Techniques used to better recognize disruptive technologies

A

External convos w pioneers, Internal convos with engineers

78
Q

What encourages new market and technology development?

A

Having innovation separated from core businesses

79
Q

When did Kodak go bankrupt?

A

2002

80
Q

(Disruptive Tech) Big Firms should do these things

A

Invest in startups and internal efforts

81
Q

“Creosote Bush” Effect

A

Prioritizing the work of good engineers on immediate work, not future-plannings

82
Q

Piloting a firm through disruptive innovation is

A

extremely difficult

83
Q

When a firm undergoes disruptive innovation, they may see:

A

Lower margins and compressed revenues

84
Q

Bitcoin

A

open source, decentralized payment system

85
Q

Bitcoin operates in a

A

Peer-to-peer environment without bank or central authority

86
Q

Blockchain Technologies

A

A distributed and decentralized ledger that records and verifies transactions and ownership.

87
Q

Jobs that will become more automated

A

Anything that uses processes or simple problem-solving

88
Q

Jobs that will remain dominated by humans

A

Anything relational or problems that require complex solutions (ex. Crisis Management)

89
Q

Top 4 Barriers to AI Adoption

A

(MFSC) Maturity, Fear, Starting-Point, Complexity

90
Q

Data

A

Raw facts and figures that can be turned into info

91
Q

Information

A

Data to answer a question or support decision-making

92
Q

3 V’s of Big Data

A

Volume, Variety, Velocity

93
Q

Big Data

A

(CSA) The collection, storage, and analysis of extremely large data to generate insights

94
Q

Business intelligence (BI)

A

Reporting, data exploration,
and sophisticated data
modeling/analysis

95
Q

Analytics

A

statistical and quantitative analysis, explanatory and predictive models, and fact-based management to drive decisions and actions

96
Q

The amount of data being created doubles every

A

2 Years

97
Q

Advantages based on capabilities and data that others can acquire will be

A

SHORT LIVED

98
Q

Data helps build

A

Competitive Advantage

99
Q

DBMS is also known as

A

Database Software

100
Q

Most common database standard

A

Relational Database Management Systems

101
Q

Most popular standard for relational database systems

A

SQL

102
Q

RDBS Chain

A

Data Fields -> Data Records -> Data File -> Database

103
Q

Database

A

A collection of related tables

104
Q

Table

A

A list of data, arranged in columns and rows

105
Q

Record

A

A single instance of whatever the
table keeps track of

106
Q

Field

A

A column in a database table

107
Q

Primary Key

A

Field(s) that uniquely identify a record

108
Q

Foreign Key

A

A field in common between 2 tables

109
Q

Column

A

Each category of data contained in a
record

110
Q

Managing database servers can be given to

A

Third Parties like DevOps

111
Q

By using DevOps, the programmer need only

A

Write the code and the vendor will manage the system, it’s security and hardware provisioning

112
Q

Data that is inaccessible is often referred to as being

A

Siloed

113
Q

Structured Query Language (SQL)

A

A language used to create and
manipulate databases

114
Q

Threats of Data Aggregators

A

Identity theft, Incorrect data, Privacy Concerns

115
Q

What type of systems limit data utilization since they were not built to be shared?

A

Legacy Systems

116
Q

What types of databases were not set up to run reporting AND analysis?

A

Transactional Databases

117
Q

Large Data Warehouses disadvantages

A

Costly, Timely, Complex

118
Q

Data Warehouses and Data Marts hold

A

Transactional data waiting to be reported/analyzed

119
Q

Data Lakes

A

Storage and access technologies used in Big Data

120
Q

Hadoop

A

(SEC) open-source tools managing data for storage, extraction, and computation

121
Q

Advantages of systems like Hadoop

A

(FSCF) Flexible, scalable, cost-effective, fault-tolerant

122
Q

Canned Reports

A

Regular summaries of information in a predetermined format

123
Q

ad hoc reporting tools

A

Users control custom reports on an as-needed basis by selecting fields, ranges, summary conditions, and other parameters

124
Q

Dashboards

A

Display of critical indicators to get key performance metrics

125
Q

online analytical processing (OLAP)

A

Takes data from relational databases, calculates and summarizes the data, and then stores the data in a data cube

126
Q

Data Cube Location

A

Width

127
Q

Data Cube Product

A

Height

128
Q

Data Cube Time

A

Length

129
Q

Data Cube Cell

A

Piece

130
Q

Data mining is used to addess issues relating to

A

Segmentation, Marketing, Targeting and Filtering

131
Q

Over-engineering can lead to

A

Bad results

132
Q

Will analytics always find a solution?

A

NO, sometimes they just find patterns

133
Q

A competent business analytics team should possess three critical skills:

A

Info technology, Stats, Business Knowledge

134
Q

AI can still possess

A

Unintended bias, discrimination, and violations of privacy

135
Q

What helps make tech more ethical?

A

Hire ethicists, Code of Ethics, Training, Remedies

136
Q

Pre-reqs for data mining to work

A

Clean data, Reflect Trends

137
Q

3 Components to a Human-Centered Design Approach

A

(DVF) Desirability, Viability, Feasibility

138
Q

Design Challenge Pathway

A

(PERIPT) Plan, Empathize, Reframe, Ideate, Prototype, Test

139
Q

Land O Lakes Question

A

Persona: Land O Lakes Executives
Goal: Maximize Market Share
Problem: Aggressive Competition
Solution: Using technology to analyze their competitor’s marketing strategies and improving theirs based on suggestions found in analysis

MIS 3305 (4 decks)

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