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OMIS 472 Midterm Exam Question and answers correctly solved

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OMIS 472 Midterm Exam Question and answers correctly solved OMIS 472 Midterm Exam Data = - correct answer -raw figures -metadata Information = - correct answer With context data become information, reveals relationships between entities (What?) Knowledge = - correct answer With a...

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  • November 6, 2024
  • 9
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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OMIS 472 Midterm Exam
Data = - correct answer ✔-raw figures
-metadata


Information = - correct answer ✔With context data become information,
reveals relationships between entities (What?)


Knowledge = - correct answer ✔With added meaning, reveals trends and
patterns (Why?)


Wisdom = - correct answer ✔reveals ideas, principles, biases, insights over
time (What could happen?)


Decision= - correct answer ✔course of action, implementation, monitoring,
correction (What should we do?)


Data Analytics is a process that involves: - correct answer ✔-identifying the
problem
-gathering relevant data that frequently are not in a usable form
-cleaning up the data to make them usable
-loading them into data storage models
-manipulating them to discover information that leads to actionable insights
-making decisions based on those insights


Data Science = - correct answer ✔the intersection of computer science,
statistics and domain knowledge

, Business Intelligence: - correct answer ✔focuses primarily on business data,
financial data, and marketing data to gain business value, customer loyalty,
and other benefits


Applications of Analytics: - correct answer ✔-Retail
-Manufacturing (demand forecasting)
-Marketing
-Supply Chain
-Customer Service/Help desk
-Forecasting & Budgeting
-Audit
-Government
-Utilities
-Sports


Structured Data = - correct answer ✔computer-readable and usable


Structured Data examples: - correct answer ✔-Flat files
-spreadsheets
-data sourced from databases


T or F: Structured data are based on data models and therefore contain
metadata to provide a predetermined structure and meaning - correct answer
✔True


Unstructured Data = - correct answer ✔they do not conform to data models
and associated metadata

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