Lectures 1-14

Question 1

3. What is loyalty program? (Lecture 2)

Answer 1

A rewards program offered by a company to customers who frequently make purchases

Question 2

Do loyalty programs reduce or increase buyer power?

Answer 2

Reduce

Question 3

4. What is Porter’s Five Forces Model? (Lecture 2)

Answer 3

A framework for analyzing the level of competition within an industry

Question 4

5. What is Entry Barrier? (Lecture 2)

Answer 4

Cost that must be incurred by an entrant into a market

Cost of products/services/features that customers expect and incumbents already provide

Question 5

Switching cost? (Lecture 2)

Answer 5

Cost to customers of switching to a different product/service from the one they are already using

Question 6

First Mover Advantage

Answer 6

The advantage gained by the initial (“first-moving”) significant occupant of a market segment. A market participant has first-mover advantage if it is the first entrant and gains a competitive advantage through control of resources.

Question 7

What is KPI? (Lecture 3)

Answer 7

A.k.a key performance indicator

A measurable value that demonstrates how well an objective is being achieved

Question 8

Chosen KPIs should be….? (Lecture 3)

Answer 8

Aligned –reflecting with the strategic goals and objectives of the organization
Attainable –measured based on the data that can be obtained in a straightforward manner
Accurate – based on accurate data and calculations
Actionable – giving insights that can prompt action

Question 9

7. What is efficiency? (Lecture 3)

Answer 9

Appropriate use of resources
“Doing things right”

Doing things that are appropriate

Question 10

What is effectiveness? (Lecture 3)

Answer 10

Pursuing appropriate goals

“Doing right things”

Question 11

Who is Chief Technology Officer? (Lecture 3)

Answer 11

Efficiency of the information systems

Question 12

Chief Information Security Officer?

Answer 12

Security of information systems and data assets

Question 13

Chief Information Officer? (Lecture 3)

Answer 13

Oversees the use of data/information technology and aligns it with the enterprise’s strategies, objectives, and goals

Question 14

Chief Privacy Officer? (Lecture 3)

Answer 14

​Protecting employee and customer data against illegal of unethical use

Question 15

Chief Data Officer? (Lecture 3)

Answer 15

Data governance and utilization of information as an asset

Question 16

13. What is Data Warehouse?

Answer 16

A large store of data accumulated from a wide range of sources within a company and used to guide management decisions

Question 17

What is the purpose of DWH? (Lecture 6)

Answer 17

A data warehouse is created within an organization as a separate data store whose primary purpose is data analysis

Question 18

14. What is ETL? (Lecture 10)

Answer 18

Extracting analytically useful data from the operational data sources
Transforming such data so that it conforms to the structure of the target data warehouse model, while ensuring the quality of the transformed data
Loading the transformed and quality assured data into the target data warehouse

Question 19

15. Which tools are designed for analysis of data in DWH and Data Mart? (Lecture 7)

Answer 19

OLAP (BI) - querying and presenting data from data warehouses and/or data marts for analytical purposes

Online analytical processing (OLAP)

Question 20

16. What is data mining? (Lecture 7)

M.U.A.A.

Answer 20

Discovering novel and interesting patterns in large amounts of data
The patterns should be:
Accurate
Meaningful
Understandable
Actionable

Question 21

19. What is Big Data? (Lecture 8)

Answer 21

Massive volumes of unstructured and semi-structured data that are not formally modeled. Can be coming from various sources and can encompass 80-90% of stored data

Question 22

22. What is Supply Chain Management framework? (Lecture 9)

Answer 22

Supply Chain Operations Reference (SCOR) model
What processes does it include?
Plan
Source
Make
Deliver
Return
Enable

Question 23

23. What is Bullwhip Effect? (Lecture 9)

Answer 23

Occurs when product demand information passes throughout the supply chain in a distorted (delayed) way

Question 24

24. What is CRM? (Lecture 10)

What areas in the company does it help to integrate?

Answer 24

A) Business strategies and practices for managing and analyzing interactions with past, present and future customers through the use of data and information technology

B) Sales management
Marketing
Customer service

Question 25

25. Review CRM metrics and KPIs (all - Customer Service, Sales Support, and Marketing Support) (Lecture 10) a. Customer Service Metrics and KPIs Number of complaints in a time period Customer ratings of service Average time to complete problem resolution b. Sales Support Metrics and KPIs Leads-to-conversions rate Average profit per customer in a time period Upsell revenues in a time period c. Marketing Support Metrics and KPIs Mail/e-mail response rate Increase in sales during the marketing campaign Increase in number of customers during the marketing campaign

Answer 25

a. Customer Service Metrics and KPIs Number of complaints in a time period Customer ratings of service Average time to complete problem resolution b. Sales Support Metrics and KPIs Leads-to-conversions rate Average profit per customer in a time period Upsell revenues in a time period c. Marketing Support Metrics and KPIs Mail/e-mail response rate Increase in sales during the marketing campaign Increase in number of customers during the marketing campaign

Question 26

26. What is RFM method? (Lecture 10)

Answer 26

a. RFM – A method for analyzing customer value i. Recency 1. When was the most recent purchase by the customer? ii. Frequency 1. How often does the customer purchase over a period of time? iii. Monetary Value 1. What is the monetary value of the customer's purchase over a period of time?

Question 27

27. What is Automations, Streamlining, BPR, and Paradigm shift? (Lecture 11)

Answer 27

``` Automating – changing the business process by automating it Streamlining – changing the business process by removing unnecessary, outmoded, or inefficient steps and methods in the process BPR – changing the business process not by performing the same process faster, cheaper and more efficient, but by completely redesigning the process Paradigm shift (strategic reengineering) – BPR effort in one company redefines the entire industry ```

Question 28

28. In BPR, what diagram is depicting how the process is done currently? (Lecture 11) ​​

Answer 28

“As-Is” diagram

Question 29

29. What is ERP? (Lecture 11) When is the best to use it? (Lecture 12)??

Answer 29

ERP is a premade, integrated, corporate information system ERP is one of the ways to achieve an integrated enterprise-wide information system ERP systems can contain multiple modules for multiple constituencies ERP deployment can be lengthy Use it: As an ERP system As a Best of Breed Collection As a custom developed enterprise (single) Using mixed approach (combination of the previous)

Question 30

What is Best of Breed? (Lecture 12) When is the best to use it????

Answer 30

An integrated collection of function-specific (“best of breed”) commercial off-the-shelf software (COTS) systems

Question 31

30. What is cloud computing system? (Lecture 12)

Answer 31

Use the internet to deliver data storage and processing services hosted by a service provider

Question 32

31. What are the three business categories within B2C? (Lecture 13)

Answer 32

Brick-and-mortar: retailer does not have an online presence Click-and-mortar: retailer has both an online and offline presence Pure play: retailer only has an online presence

Question 33

32. Who is Internet Service Provider? (Lecture 13)

Answer 33

Provide access to the internet

Question 34

Internet Content Provider? (Lecture 13)

Answer 34

Create/acquire content (text, photos, audio, video, etc.) and distribute it via the internet

Question 35

Transaction Broker? (Lecture 13)

Answer 35

Internet based transaction intermediaries

Question 36

33. What is Net Neutrality? (Lecture 13)

Answer 36

The principle that Internet service providers and governments should treat all data on the Internet equally, not discriminating or charging differentially by user, content, site, platform, application, type of attached equipment, or mode of communication

Question 37

34. What is Encryption? (Lecture 14)

Answer 37

Data encryption translates data into a scrambled incomprehensible form

Question 38

Decryption? (Lecture 14) | ​

Answer 38

Reverts the data to its original state

Question 39

Authentication? (Lecture 14)

Answer 39

Login procedure using user ID and password

Question 40

Access Privilege? (Lecture 14)

Answer 40

Granting different groups of users access to different portions of data

Question 41

35. What is Data Backup? (Lecture 14)

Answer 41

Saving additional physical copies of the data. Copy of data whose purpose is to restore the original in case of failure

Question 42

Data recovery? (Lecture 14) | ​

Answer 42

Recovering the data content after a failure

Question 43

Archive? (Lecture 14)

Answer 43

Historical data that is no longer actively used

Question 44

36. What are the methods for dealing with data threats? (Lecture 14)

Answer 44

``` Updating anti-virus software Quality passwords, protecting them, and changing them periodically Logging off when not present Data access control procedures Data backup and recovery procedures Data encryption if/when appropriate Secured locations for data storage Proper network security Training employees ```

Question 45

20. What software is used to implement MapReduce technique? (Lecture 8) 21. What is Upstream? Downstream? (Lecture 9)

Answer 45

Hadoop is an open source implementation of the MapReduce technique

Question 46

20. What software is used to implement MapReduce technique? (Lecture 8) 21. What is Upstream? Downstream? (Lecture 9)

Answer 46

Hadoop is an open source implementation of the MapReduce technique

Question 47

21. What is Upstream? Downstream? (Lecture 9)

Answer 47

Upstream: Supplies Raw materials Suppliers Company Downstream: customer end

Question 48

21. What is Upstream? Downstream? (Lecture 9)

Answer 48

Upstream: Supplies Raw materials Suppliers Company Downstream: customer end

Question 49

1. What is Application Software? (Lecture 1)

Answer 49

Software developed to perform specific jobs or address one or more specific business needs Provides the tools to perform particular tasks on a computer, such as writing a letter, processing orders, paying bills, etc

Question 50

What is System Software? (Lecture 1)

Answer 50

It ENABLES the APPLICATION Software Acts as a mediator between application programs and the hardware resources of the computer system Designed to carry out general routine operations, such as loading, copying, or deleting a filet

Question 51

2. What is Information Systems? (Lecture 1)

Answer 51

A computer based system that collects, stores, and manipulates data

Question 52

What are IS core roles? (Lecture 2)

Answer 52

1. Data (information) storage 2. Facilitating Business Processes 3. Data (Information) Analysis and Decision Support

Question 53

1. What is Application Software? (Lecture 1)

Answer 53

Software developed to perform specific jobs or address one or more specific business needs Provides the tools to perform particular tasks on a computer, such as writing a letter, processing orders, paying bills, etc

Question 54

What is System Software? (Lecture 1)

Answer 54

It ENABLES the APPLICATION Software Acts as a mediator between application programs and the hardware resources of the computer system Designed to carry out general routine operations, such as loading, copying, or deleting a file

Question 55

2. What is Information Systems? (Lecture 1)

Answer 55

A computer based system that collects, stores, and manipulates data

Question 56

What are IS core roles? (Lecture 2)

Answer 56

1. Data (information) storage 2. Facilitating Business Processes 3. Data (Information) Analysis and Decision Support

Question 57

9. Review Data Quality lecture. Pay attention to 2 examples in the lecture.

Answer 57

``` Problems with Accuracy Uniqueness Completeness Consistency Timeliness Conformity ```

Question 58

What is the purpose of DWH? (Lecture 6) A data warehouse is created within an organization as a separate data store whose primary purpose is data analysis Is it structured same way as operational database? (Lecture 6) Does it use same type of technologies as operational database? (Lecture 6) Is DWH’s userbase same, larger or smaller than operational database’s? (Lecture 6)

Answer 58

Data warehouses are modeled and structured differently than operational databases Use different types of technologies for storage and retrieval than operational database Data warehouse are used by different (much smaller) set of users than operational databases Operational databases can be used by thousands of employees partners and customer while DW are used by data analysts and decision maker

Question 59

18. What are basic OLAP operations (features)? (You will be given examples from the lectures and asked what kind operations are performed in a given scenario). Lecture 7

Answer 59

Online analytical processing/ Business Intelligence tool features: Slice and dice (add, replaces, or eliminates specific attributes (or particular values) from the already displayed result) Pivot (rotate) : switching the axis Drill down/ drill up: makes the granularity(the level of details) of the data finer (more details) while up makes it coarser (less details)