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ISA 235 Miami University Exam 1 Question and answers correctly solved

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ISA 235 Miami University Exam 1 Question and answers correctly solved ISA 235 Miami University Exam 1 (Ch. 1-4) internet of things - correct answer a world where interconnected, internet-enabled devices or "things" can collect & share data without human intervention machine to machine (M...

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  • November 8, 2024
  • 28
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • isa 235 miami university exam 1
  • isa 235 miami university exam 1 question and answ

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ISA 235 Miami University Exam 1 (Ch. 1-
4)
internet of things - correct answer ✔a world where interconnected, internet-
enabled devices or "things" can collect & share data without human
intervention


machine to machine (M2M) - correct answer ✔devices that connect directly
to other devices


data - correct answer ✔raw facts that describe the characteristics of an event
or object


structured data - correct answer ✔data that has a defined length, type, and
format and includes numbers, dates, or strings such as Customer Address


unstructured data - correct answer ✔data that is not defined and does not
follow a specified format and is typically free-form text such as emails, Twitter
tweets, and text messages


big data - correct answer ✔a collection of rare, complex data sets, including
structured and unstructured data, which cannot be analyzed using traditional
database methods & tools


snapshot - correct answer ✔a view of data at a particular moment in time


information example - correct answer ✔best-selling product, best customer,
worst-selling product, worst customer

,business intelligence example - correct answer ✔lowest sales per week
compared with the economic interest rates, best-selling product by month
compared to sports season and city team wins and losses


knowledge example - correct answer ✔choosing not to fire a sales
representative who is underperforming knowing that person is experiencing
family problems, listing products that are about to expire first on the menu or
creating them as a daily special to move the product


business intelligence (BI) - correct answer ✔information collected from
multiple sources such as suppliers, customers, competitors, partners, and
industries that analyze patterns, trends, and relationship for strategic decision
making


analytics - correct answer ✔the science of fact-based decision making


knowledge - correct answer ✔skills, experience, and expertise coupled with
information and intelligence that creates a person's intellectual resources


systems thinking - correct answer ✔a way of monitoring the entire system by
viewing multiple inputs being processed or transformed to product outputs
while continuously gathering feedback on each part


feedback - correct answer ✔information that returns to its original transmitter
(input, transform, or output) and modifies the transmitter's actions


management information systems (MIS) - correct answer ✔a business
function, like accounting and human resources, which moves information
about people, products, and processes across the company to facilitate
decision making & problem solving

, chief information officer (CIO) - correct answer ✔responsible for:
1) overseeing all uses of MIS and
2) ensuring that MIS strategically aligns with business goals and objectives


chief security officer (CSO) - correct answer ✔responsible for ensuring the
security of MIS systems and developing strategies and MIS safeguards
against attacks from hackers and viruses


business strategy - correct answer ✔a leadership plan that achieves a
specific set of goals or objectives such as increasing sales, decreasing costs,
entering new markets, or developing new products or services


competitive advantage - correct answer ✔a feature of a product or service on
which customers place a greater value than on similar offerings from
competitors


first-mover advantage - correct answer ✔an advantage that occurs when a
company can significantly increase its market share by being first to market
with a competitive advantage


SWOT analysis - correct answer ✔evaluates an organization's strengths,
weaknesses, opportunities, and threats to identify significant influences that
work for or against business strategies


Porter's 5 Forces Model - correct answer ✔a model for analyzing the
competitive forces within the environment in which a company operates, to
assess the potential for profitability in an industry


buyer power - correct answer ✔the ability of buyers to affect the price they
must pay for an item

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