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ISQS 2340 Exam 2 Review TTU Questions and Answers with Complete Solutions |
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ISQS 2340 Exam 2 Review TTU Questions and Answers with Complete Solutions |
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ISQS 2340 Exam 2 Review TTU Questions andAnswers with Complete Solutions | 2024-2025
What is a data-driven culture? - ANSWER A data-driven culture uses data-
driven decision making
Examples of Google using data and analytics? - ANSWER At Google. decisions
are based on data, analytics and scientific experimentation.
Tried to answer the question of: Do managers matter?Determine the data to use
(see what's available and what might be needed) • Performance reviews (top-
down) and employee surveys (bottom-up) of managers • Looking for variability:
Top and bottom quartiles • Analyze the data using statistical methods
The abundance of data, and its implications and the potential benefits from
analytics for businesses? - ANSWER Big Data - The sheer volume of data
• Increased efficiency • Improved operations • Enhanced customer retention
Purpose and usefulness of Tableau and data visualization in general? -
ANSWER Data visualization is not a personal preference, to be done "just in
case some people are more visual." It is a necessity! • The previous slide is a
classic example of how some insights can only be found through visualization.
Remember the picture superiority effect: pictures are retained at much higher
rates than words.A good visualization reduces the time to insight.
Value creation with data analytics (think exchange transactions and
uncertainties)? - ANSWER NO pie charts! Yes to scatterplots for exploring
relationships. Yes to treemaps for relative proportions. Orient data so people can
read it (better to have a horizontal bar chart than a vertical bar chart). Filled maps
with only one measure, dash boarding
, what is blockchain technology? - ANSWER A blockchain is a distributed ledger
of transactions
Blockchains lineage (where it came from/ first used)? - ANSWER A block
consists of multiple timestamped transactions • Multiple blocks are joined
together in a chain • Nodes are connected devices that have a copy of the entire
blockchain • The nodes are periodically synchronized to ensure consensus
What are the main parts of blockchain technology? - ANSWER 1. Users initiate
transactions using their Digital Signatures. 2. Users Broadcast transactions to
Nodes. 3. One or more Nodes begin validating each transaction. 4.Nodes
aggregate validated transactions into Blocks. 5. Nodes broadcast blocks to each
other. 6. Consensus protocol used. 7. Block reflecting "true state" is chained to
prior Block.
Implications of blockchain buyers, sellers, and the middleman? - ANSWER The
blockchain has the potential to reinvent any transaction that now requires going
through a middleman, including finance, banking, contacts, and retail.
Blockchain applications - ANSWER • Cryptocurrencies, such as Bitcoin,
Ethereum, Litecoin, etc. • Digital identity • Any application where a secure,
immutable record must be shared between multiple parties • ensuring product
authenticity • recording real estate transactions • secure medical records
Various uses of blockchain technology discussed in the prep materials? -
ANSWER finance (bitcoin), banking, contracts (law), retail, voting, music and
other arts, trusted concert tickets, protect sensitive info,
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