100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
MIS 301 Chapter 15 Question and answers 100% correct 2024 $13.99   Add to cart
Quickly navigate to
Preview
  2.  
  3. MIC 301
  4.  
  5. MIC 301

Exam (elaborations)

MIS 301 Chapter 15 Question and answers 100% correct 2024

 5 views  0 purchase
  • Course
  • MIC 301
  • Institution
  • MIC 301

MIS 301 Chapter 15 Question and answers 100% correct 2024 Online Analytical Processing (OLAP) - correct answer A method of querying and reporting that takes data from standard relational databases, calculates and summarizes the data, and then stores the data in a special database called a data c...

[Show more]

Preview 2 out of 5  pages

Document information

  • August 27, 2024
  • 5
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

Written for

  • MIC 301
  • MIC 301

Seller

avatar-seller
flyhigher329

Reviews received

Content preview

MIS 301 Chapter 15
Online Analytical Processing (OLAP) - correct answer ✔A method of
querying and reporting that takes data from standard relational databases,
calculates and summarizes the data, and then stores the data in a special
database called a data cube.


Data Mart - correct answer ✔A database or databases focused on
addressing the concerns of a specific problem (e.g., increasing customer
retention, improving product quality) or business unit (e.g., marketing,
engineering).


Data Cube - correct answer ✔A special database used to store data in OLAP
reporting.


Inventory Turnover Ratio - correct answer ✔The ratio of a company's annual
sales to its inventory.


Loyalty Card - correct answer ✔Systems that provide rewards and usage
incentives, typically in exchange for a method that provides a more detailed
tracking and recording of customer activity. In addition to enhancing data
collection, loyalty cards can represent a significant switching cost.


Dashboards - correct answer ✔A heads-up display of critical indicators that
allow managers to get a graphical glance at key performance metrics.


Legacy System - correct answer ✔Older information systems that are often
incompatible with other systems, technologies, and ways of conducting
business. Incompatible legacy systems can be a major roadblock to turning
data into information, and they can inhibit firm agility, holding back operational
and strategic initiatives.

, Genetic Algorithms - correct answer ✔Model building techniques where
computers examine many potential solutions to a problem, iteratively
modifying (mutating) various mathematical models, and comparing the
mutated models to search for a best alternative.


Data Mining - correct answer ✔The process of using computers to identify
hidden patterns in, and to build models from, large data sets.


Omnichannel - correct answer ✔Providing customers with a unified
experience across customer channels, which may include online, mobile,
catalog, phone, and retail. Pricing, recommendations, and incentives should
reflect a data-driven, accurate, single view of the customer.


Neural Networks - correct answer ✔An AI system that examines data and
hunts down and exposes patterns, in order to build models to exploit findings.


Information - correct answer ✔Data presented in a context so that it can
answer a question or support decision making.


Knowledge - correct answer ✔Insight derived from experience and expertise.


Big Data - correct answer ✔Big data is a general term used to describe the
massive amount of data available to today's managers. Big data are often
unstructured and are too big and costly to easily work through use of
conventional databases, but new tools are making these massive datasets
available for analysis and insight.


Analytics - correct answer ✔A term describing the extensive use of data,
statistical and quantitative analysis, explanatory and predictive models, and
fact-based management to drive decisions and actions.

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller flyhigher329. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $13.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

73243 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$13.99
  • (0)
  Add to cart