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MIS 301 Chapter 15 Question and answers 100% correct 2024

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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...

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  • August 27, 2024
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  • 2024/2025
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  • mis 301 chapter 15 question and answers 100 corre

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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.

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