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MIS 301 Exam 2 Question and answers verified to pass 2024 Data Warehouse - correct answer A set of databases designed to support decision making in an organization. It is structured for fast online queries and exploration. These may aggregate enormous amounts of data from many different operatio...

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MIS 301 Exam 2
Data Warehouse - correct answer ✔A set of databases designed to support
decision making in an organization. It is structured for fast online queries and
exploration. These may aggregate enormous amounts of data from many
different operational systems


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). Answers 1 question. May contain huge volumes of data


E Discovery - correct answer ✔The process of identifying and retrieving
relevant electronic information to support litigation efforts


Canned Reports - correct answer ✔Reports that provide regular summaries
of information in a predetermined format


Ad Hoc Reporting Tools - correct answer ✔Tools that put users in control so
that they can create custom reports on an as-needed basis by selecting fields,
ranges, summary conditions, and other parameters


Dashboards - correct answer ✔A heads-up display of critical indicators that
allow manager to get a graphical glance at key performance metrics


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 Cube - correct answer ✔A special database used to store data in OLAP
reporting


Data Mining - correct answer ✔The process of using computers to identify
hidden patterns in, and to build models from, large data sets


Neural Networks - correct answer ✔An AI system that examines data and
hunts down and exposes patterns in order to build models to exploit findings.
Use deep learning to find patterns and then create models that utilize those
patterns. It is more the computer on its own


Expert Systems - correct answer ✔AI systems that leverage rules or
examples to perform a task in a way that mimics applied human expertise. A
computer guiding humans based on human encoded rules


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


Inventory Turnover Ratio - correct answer ✔The ratio of a company's annual
sales to its inventory. The higher this ratio the better. How often a firm sells
the equivalent of its entire inventory


Customer Lifetime Value (CLV) - correct answer ✔The present value of the
likely future income stream generated by an individual purchaser


Data Mining - correct answer ✔The process of discovering new patterns
from large data sets. The non-trivial discovery of novel, valid, comprehensible,
and potentially useful patterns from data

,Data Mining - correct answer ✔The goal of this is to extract knowledge from
a data set in a human-understandable structure


Data Mining - correct answer ✔The goal of this is DISCOVERY of new
patterns and relationships from data


Knowledge - correct answer ✔The transformation of data into this is key


Cost - correct answer ✔Storage capacity is increasing as this is decreasing
--> becoming nearly unlimited


KB - correct answer ✔Typewritten Page


MB - correct answer ✔Small novel or high-resolution photo


GB - correct answer ✔Pickup truck filled with books or the works of
Beethoven


TB - correct answer ✔Library of Congress is 10 of these. National Climatic
Data Center Database is 400 of these


Data - correct answer ✔The sources of this come from:


- Internal operations systems
- Externally brought from outside sources
- Social networking, user-generated content applications
- Transactional from company operations

, Operational Data - correct answer ✔The problems with this type of data
include:


- Raw data usually unsuitable for sophisticated reported or data mining
- Dirty data
- Values may be missing
- Inconsistent data
- Data can be too fine or too coarse (1 click = too fine; 1 billion clicks = not
useful)
- Too much data! Too many dimensions = NOT USEABLE. Examples of
dimensions: name, age, gender, ethnicity, income, religion, education,
vehicles, hobbies, etc.


Business Intelligence - correct answer ✔These types of systems use data
created by other systems to provide reporting and analysis for organizational
decision making. The ability to pull data from across an organization and
make decisions is key to business success


Business Intelligence - correct answer ✔These tools analyze data, look for
patterns, and use patterns to make business decisions (such as sharing
information w partners, managing inventory, and design marketing and
advertising strategies)


reporting systems, expert systems, knowledge management systems, data
mining systems - correct answer ✔These types of business intelligence
systems provide information for improving decision making. The 4 primary
systems are:


Reporting Systems - correct answer ✔A type of BI system; integrates data
from multiple sources. Process data by sorting, grouping, summing,
averaging, and comparing. Results formatted into reports. This system

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