IDSC 3001 Quiz 1 Exam Questions With Correct Answers
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Course
IDSC 3001
Institution
IDSC 3001
IDSC 3001 Quiz 1 Exam Questions With
Correct Answers
Why technology matters to business - answerLargest single capital investment and 50% is
wasted
Technology is essential but risky
One million new malicious programs launched every day
The US is number one for targeted attacks
Information sy...
IDSC 3001 Quiz 1 Exam Questions With
Correct Answers
Why technology matters to business - answer✔✔Largest single capital investment and 50% is
wasted
Technology is essential but risky
One million new malicious programs launched every day
The US is number one for targeted attacks
Information systems - answer✔✔A set of interrelated components (data, software, hardware,
networks) used to collect, process, store, and retrieve
-A transport mechanism
-Global infrastructure technology (internet)
-It's a perfect commodity
Common building blocks of technology: employees - answer✔✔distributed, mobile, diverse,
global, connected, 24/7 workforces
Common building blocks of technology: customers - answer✔✔want seamless interaction on
demand, emphasis on convenience
Common building blocks of technology: suppliers - answer✔✔must securely capture, analysis
and share data in real time, at multiple points of contact, with a variety of partners
Common building blocks of technology: digital assets - answer✔✔convergence of employees,
customers, and suppliers into a shared digital domain
DIKW Model - answer✔✔
Moore's Law - answer✔✔"The speed of technology doubles and the costs falls in half every 18
months."
-Quantum advantage
IBM's results: exponential forecast for growth of quantum processing power
-No end in sight
Why is technology unstoppable in industries? - answer✔✔•Market entry is getting easier
•Entirely new disruptive markets
•Data travel at the speed of trust
•New digital skill-sets and attitudes
The global economy is becoming the ____ economy - answer✔✔digital
What is driving disruptive changes in business? - answer✔✔Digital technology
The digital economy is changing conventional notions about what? - answer✔✔how businesses
are structured, how firms interacts, and how consumers obtain goods, services, and information
Enterprising technology trend -- Disruption - answer✔✔-Business success in the digital age is
driven by how well organizations understand end-user requirements
-The value of digital transformation is important in most industries, and critical for survival in
some
-First mover status and speed to market is a deciding factor
Opportunity: a new employment role -- the business translator - answer✔✔-Many organizations
focus on the need for data scientists, but equally important is the link between analytical talent
and practical applications to business questions
-This enables organizations to as the data science team the right questions
-It's possible to outsource analytics, but business translators require propreitary knowledge and
should be deeply embedded in the org
-Could be demand for 2-4 million business translators in the US alone over the next 10 years
Opportunity: the digital edge - answer✔✔-At the extreme are hyperscale businesses that are
challenging conventional business models
-These businesses have platforms: users, suppliers, devices, transactions, "data", numbered in the
hundreds of millions
-Digital powerhouses are moving from search and social networking into new sectors like crypto
currency, banking, food, transportation, retails, ect
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