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ISA 235 Final Exam Miami University Question and answers already passed

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ISA 235 Final Exam Miami University Question and answers already passedISA 235 Final Exam Miami University - Mo - Data - correct answer raw facts that describe the characteristics of an event or object Information - correct answer data converted into a meaningful and useful context Bus...

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  • November 8, 2024
  • 28
  • 2024/2025
  • Exam (elaborations)
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  • isa 235 final exam miami university
  • isa 235 final exam miami university question and a

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ISA 235 Final Exam Miami University -
Mo -
Data - correct answer ✔raw facts that describe the characteristics of an
event or object


Information - correct answer ✔data converted into a meaningful and useful
context


Business Intelligence - correct answer ✔information collected from multiple
sources such as suppliers, customers, competitors, partners, and industries
that analyzes patterns, trends, and relationships for strategic decision making


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


Big data - correct answer ✔a collection of large, complex datasets, which
cannot be analyzed using traditional database methods and tools


4 characteristics of big data - correct answer ✔variety, veracity, volume,
velocity


structured data - correct answer ✔has a defined length, type, and format and
includes numbers, dates, or strings


this data is storied in things like a relational database or excel spreadsheet.
ex.) customer address
accounts for about 20% of data

,unstructured data - correct answer ✔is not defined and does not follow a
specified format and is typically free-form text


ex.) emails, tweets, and text messages
accounts for about 80% of the data


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


Business Analytics - correct answer ✔the scientific process of transforming
data into insight for making better decisions


Data Scientist - correct answer ✔extracts knowledge from data by
performing statistical analysis, data mining, and advanced analytics on big
data to identify trends, market changes, and other relevant information


business unit - correct answer ✔segment of a company representing a
specific business function


ex.) HR, marketing, accounting


data silo - correct answer ✔occurs when one business unit is unable to freely
communicate with other business units, making it difficult or impossible for
organizations to work cross-functionally


Data democratization - correct answer ✔the ability for data to be collected,
analyzed, and accessible to all users

, the goal is to allow all employees the ability to collect and analyze data
without requiring outside help


System - correct answer ✔a collection of parts that link to achieve a common
purpose


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


MIS
(Management Information Systems) - correct answer ✔a business function,
like accounting and HR, which moves information about people, products, and
processes across the company to facilitate decision making and problem
solving


MIS incorporates systems thinking to help companies operate cross-
functionally


MIS skills gap - correct answer ✔the difference between existing MIS
workplace knowledge and the knowledge required to fulfill the business goals
and strategies


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/services


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

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