1. Data, information, and intelligence all have the potential to create value to the firm through better decision making.
T PTS: 1 DIF: Moderate REF: p. 18
OBJ: LO: 02-01
NAT: AACSB Reflective Thinking| CB&E Model
...
1. Data, information, and intelligence all have the potential to create value to the firm through better decision making.
T PTS: 1 DIF: Moderate REF: p. 18
OBJ: LO: 02-01
NAT: AACSB Reflective Thinking| CB&E Model Research| Blooms Comprehension
2. Data are a subset of market intelligence.
F
Market intelligence is the subset of data and information. There is more data than information, and more information than intelligence.
PTS: 1 DIF: Moderate REF: p. 18 OBJ: LO: 02-01
NAT: AACSB Reflective Thinking| CB&E Model Research| Blooms Comprehension
3. Relevant data are facts about things that cannot be changed.
F
Relevant data are facts about things that can be changed, and if they are changed, it will materially alter the situation.
PTS: 1 DIF: Moderate REF: p. 19 OBJ: LO: 02-02
NAT: AACSB Reflective Thinking| CB&E Model Research| Blooms Comprehension
4. Timely data are the most current data.
F
While the most current data are most likely the most timely and relevant, timely data can be older as well. It just can’t be so old that they are not relevant.
PTS: 1 DIF: Moderate REF: p. 20 OBJ: LO: 02-02
NAT: AACSB Reflective Thinking| CB&E Model Research| Blooms Comprehension
5. Knowledge cannot be managed.
F
Knowledge management is the process of creating an inclusive, comprehensive, easily accessible organizational memory, which is often called the organization’s intellectual capital.
PTS: 1 DIF: Hard REF: p. 21 OBJ: LO: 02-03
NAT: AACSB Reflective Thinking| CB&E Model Research| Blooms Comprehension
6. One way to describe business research is to categorize it based on the four possible functions it serves in business: foundational, testing, issues, and validation.
F
One way to describe business research is to categorize it based on the four possible functions it serves in business: foundational, testing, issues, and performance.
PTS: 1 DIF: Moderate REF: p. 23 OBJ: LO: 02-04
NAT: AACSB Reflective Thinking| CB&E Model Research| Blooms Knowledge
7. The purpose of a decision support system is to store data and transform data into information that is easily accessible to managers.
T PTS: 1 DIF: Moderate REF: p. 23
OBJ: LO: 02-04
NAT: AACSB Technology| CB&E Model Online/Computer| Blooms Knowledge
8. The goal of a CRM system is to describe customer relationships so that managers can access information themselves.
T PTS: 1 DIF: Moderate REF: p. 23
OBJ: LO: 02-04
NAT: AACSB Technology| CB&E Model Online/Computer| Blooms Knowledge
9. A decision support system requires databases and software.
T PTS: 1 DIF: Easy REF: p. 23
OBJ: LO: 02-04
NAT: AACSB Technology| CB&E Model Online/Computer| Blooms Comprehension
10. A data warehouse is the multitiered computer storehouse of current and historical data.
T PTS: 1 DIF: Moderate REF: p. 24
OBJ: LO: 02-04
NAT: AACSB Technology| CB&E Model Online/Computer| Blooms Knowledge
11. Input data can come from internal sources of the organization, but not from external sources.
F
Input data come from both internal and external sources.
PTS: 1 DIF: Moderate REF: p. 24 OBJ: LO: 02-04
NAT: AACSB Technology| CB&E Model Online/Computer| Blooms Comprehension
12. Proprietary marketing research is available to anyone via the Internet.
F
Proprietary marketing research is the gathering of new data to investigate specific problems and is otherwise not available.
PTS: 1 DIF: Moderate REF: p. 24 OBJ: LO: 02-04
NAT: AACSB Reflective Thinking| CB&E Model Research| Blooms Comprehension
13. An organization's salesforce frequently provides important business intelligence information.
T PTS: 1 DIF: Moderate REF: p. 25
OBJ: LO: 02-04
NAT: AACSB Reflective Thinking| CB&E Model Research| Blooms Knowledge
14. Modern technology provides new ways of tracking human behavior.
T PTS: 1 DIF: Moderate REF: p. 26
OBJ: LO: 02-04
NAT: AACSB Technology| CB&E Model Online/Computer| Blooms Comprehension
15. Scanner data is collected at store checkout counters.
T PTS: 1 DIF: Moderate REF: p. 26
OBJ: LO: 02-04
NAT: AACSB Technology| CB&E Model Online/Computer| Blooms Comprehension
16. Tracking a person’s Internet surfing behavior is illegal.
F
The Internet greatly facilitates tracking Internet behavior, and it is not illegal.
PTS: 1 DIF: Hard REF: p. 26 OBJ: LO: 02-04
NAT: AACSB Ethics| CB&E Model Online/Computer| Blooms Comprehension
17. Types of databases include statistical databases, financial databases, and video databases.
T PTS: 1 DIF: Moderate REF: p. 27
OBJ: LO: 02-05
NAT: AACSB Technology| CB&E Model Online/Computer| Blooms Knowledge
18. Foxnews.com is an example of a content provider on the World Wide Web.
T PTS: 1 DIF: Moderate REF: p. 31
OBJ: LO: 02-04
NAT: AACSB Technology| CB&E Model Online/Computer| Blooms Knowledge
19. A key word search entails all information gathering designed to detect changes in the external operating environment of the firm.
F
This is environmental scanning.
PTS: 1 DIF: Moderate REF: p. 32 OBJ: LO: 02-04
NAT: AACSB Reflective Thinking| CB&E Model Research| Blooms Knowledge
20. Data and information can be delivered to consumers or other end users via pull technology or push technology.
T PTS: 1 DIF: Moderate REF: p. 32
OBJ: LO: 02-04
NAT: AACSB Technology| CB&E Model Online/Computer| Blooms Knowledge
MULTIPLE CHOICE
1. Facts or recorded measures of certain phenomena (things or events) are known as _____.
a. data
b. information
c. market intelligence
d. knowledge
e. value
A PTS: 1 DIF: Moderate REF: p. 18
OBJ: LO: 02-01
NAT: AACSB Reflective Thinking| CB&E Model Research| Blooms Knowledge
2. Data formatted (structured) to support decision making or define the relationship between two facts is referred to as _____
a. interpretive
b. inductive
c. information
d. interactive
C PTS: 1 DIF: Moderate REF: p. 18
OBJ: LO: 02-01
NAT: AACSB Reflective Thinking| CB&E Model Research| Blooms Knowledge
3. Which of the following is a subset of data and information that actually has some explanatory power enabling effective decisions to be made?
a. knowledge
b. intellectual capital
c. business intelligence
d. decision support system
C PTS: 1 DIF: Moderate REF: p. 18
OBJ: LO: 02-01
NAT: AACSB Reflective Thinking| CB&E Model Research| Blooms Knowledge
4. All of the following are important characteristics used to evaluate the value of information EXCEPT_____.
a. timeliness
b. relevance
c. completeness
d. cost
D PTS: 1 DIF: Hard REF: p. 19
OBJ: LO: 02-02
NAT: AACSB Reflective Thinking| CB&E Model Research| Blooms Comprehension
5. The characteristic of data reflecting how pertinent these particular facts are to the situation at hand is called ____.
a. relevance
b. timeliness
c. completeness
d. significance
A PTS: 1 DIF: Moderate REF: p. 19
OBJ: LO: 02-02
NAT: AACSB Reflective Thinking| CB&E Model Research| Blooms Knowledge
6. A researcher has assessed the reliability and validity of his data and is comfortable in thinking the data accurately matches reality. Which characteristic of valuable information does this best describe?
a. relevance
b. completeness
c. quality
d. timeliness
A PTS: 1 DIF: Hard REF: p. 19
OBJ: LO: 02-02
NAT: AACSB Reflective Thinking| CB&E Model Research| Blooms Application
7. Which of the following data characteristic refers to the degree to which data represent the true situation?
a. timeliness
b. completeness
c. quality
d. relevance
C PTS: 1 DIF: Moderate REF: p. 20
OBJ: LO: 02-02
NAT: AACSB Reflective Thinking| CB&E Model Research| Blooms Knowledge
8. Merck, a pharmaceutical company, places a tiny chip on drug packaging to track its product from the manufacturing plant to the consumer to ensure the product flows through the proper distribution channel and safety for consumers. The tiny chip is an application of which technology?
a. RFID
b. smart technology
c. market dynamism
d. GPS
A PTS: 1 DIF: Hard REF: p. 21
OBJ: LO: 02-02 NAT: AACSB Technology| CB&E Model Research| Blooms Application
9. Which of the following represents a blend of previous experience, insight, and data that forms organizational memory?
a. data
b. knowledge
c. market intelligence
d. information
B PTS: 1 DIF: Moderate REF: p. 21
OBJ: LO: 02-03
NAT: AACSB Reflective Thinking| CB&E Model Research| Blooms Knowledge
10. Which of the following is an organized collection of computer hardware, software, data, and personnel designed to capture, store, update, manipulate, analyze, and immediately display information about worldwide business activities?
a. Internet
b. Intranet
c. global information system
d. global positioning satellite system
C PTS: 1 DIF: Moderate REF: p. 22
OBJ: LO: 02-03
NAT: AACSB Technology| CB&E Model Online/Computer| Blooms Knowledge
11. All of the following are functions supported by marketing research EXCEPT _____.
a. testing
b. foundational
c. compliance
d. performance
C PTS: 1 DIF: Hard REF: p. 23
OBJ: LO: 02-04
NAT: AACSB Reflective Thinking| CB&E Model Research| Blooms Comprehension
12. Harold is conducting research to determine what consumer segment his company should serve with its services. Which function is this research serving?
a. testing
b. issues
c. foundational
d. performance
C PTS: 1 DIF: Hard REF: p. 23
OBJ: LO: 02-04
NAT: AACSB Reflective Thinking| CB&E Model Research| Blooms Application
13. A computer-based system that helps decision makers confront problems through direct interaction with databases and systems is known as a(n) _____.
a. Internet
b. Intranet
c. decision support system (DSS)
d. global positioning satellite system
C PTS: 1 DIF: Moderate REF: p. 23
OBJ: LO: 02-04
NAT: AACSB Technology| CB&E Model Online/Computer| Blooms Knowledge
14. Which part of the decision support system addresses exchanges between the firm and its customers?
a. customer relationship management (CRM) system
b. data warehouse
c. global information system (GIS)
d. intellectual capital system
A PTS: 1 DIF: Moderate REF: p. 23
OBJ: LO: 02-04
NAT: AACSB Technology| CB&E Model Online/Computer| Blooms Knowledge
15. Who can provide data to a decision support system?
a. production managers
b. sales managers
c. accountants
d. all of these choices
D PTS: 1 DIF: Easy REF: p. 23
OBJ: LO: 02-04
NAT: AACSB Technology| CB&E Model Online/Computer| Blooms Knowledge
16. An organization's mailing list of current customers is an example of _____.
a. a cookie
b. software
c. a database
d. a hyperlink
C PTS: 1 DIF: Hard REF: p. 24
OBJ: LO: 02-04
NAT: AACSB Technology| CB&E Model Online/Computer| Blooms Application
17. Which of the following is a process that allows important day-to-day operational data to be stored and organized for simplified access?
a. global information system
b. data warehousing
c. proprietary business research
d. keyword search
B PTS: 1 DIF: Moderate REF: p. 24
OBJ: LO: 02-04
NAT: AACSB Technology| CB&E Model Online/Computer| Blooms Knowledge
18. An organization's inventory figures are a good example of _____.
a. cookies
b. internal records
c. external records
d. CRM
B PTS: 1 DIF: Hard REF: p. 24
OBJ: LO: 02-04
NAT: AACSB Reflective Thinking| CB&E Model Research| Blooms Application
19. Which source of input data is represented when a company conducts research to identify the characteristics of its customers?
a. internal records
b. proprietary business research
c. salesperson input
d. behavioral tracking
B PTS: 1 DIF: Hard REF: p. 24
OBJ: LO: 02-04
NAT: AACSB Reflective Thinking| CB&E Model Research| Blooms Application
20. Accumulated records resulting from point-of-sale data recordings are known as _____.
a. scanner data
b. multiple-source data
c. cookies
d. environmental scanning data
A PTS: 1 DIF: Moderate REF: p. 26
OBJ: LO: 02-04
NAT: AACSB Technology| CB&E Model Online/Computer| Blooms Knowledge
21. Which of the following is an example of behavioral tracking?
a. product sales histories
b. test market results
c. supermarket scanner data
d. survey findings
C PTS: 1 DIF: Moderate REF: p. 26
OBJ: LO: 02-04
NAT: AACSB Technology| CB&E Model Online/Computer| Blooms Application
22. Data which relates purchase information with promotional exposures and advertising frequency data by particular households are known as _____.
a. single-source data
b. multiple-source data
c. cookies
d. environmental scanning data
A PTS: 1 DIF: Hard REF: p. 26
OBJ: LO: 02-04 NAT: AACSB Technology| CB&E Model Research| Blooms Knowledge
23. LEXIS-NEXIS is a company that puts together data sources into packages that are offered to municipal, corporate, and university libraries for a fee. LEXIS-NEXIS is an example of a _____.
a. data compiler
b. data wholesaler
c. data warehouse
d. data miner
B PTS: 1 DIF: Hard REF: p. 27
OBJ: LO: 02-04
NAT: AACSB Technology| CB&E Model Online/Computer| Blooms Application
24. CompuStat, which publishes financial data, such as income statements and balance sheets, is an example of which type of database?
a. statistical database
b. financial database
c. video database
d. electronic interchange database
B PTS: 1 DIF: Moderate REF: p. 28
OBJ: LO: 02-05
NAT: AACSB Technology| CB&E Model Online/Computer| Blooms Application
25. The type of exchange that occurs when one company’s computer system is integrated with another companys’ system is called _____.
a. electronic data interchange (EDI)
b. radio frequency exchanged (RFE)
c. electronic synergy
d. realtime communication
A PTS: 1 DIF: Moderate REF: p. 29
OBJ: LO: 02-04
NAT: AACSB Technology| CB&E Model Online/Computer| Blooms Knowledge
26. When Walmart transmits information electronically each day to Wrangler jeans about unit sales of this product in its retail outlets so that Wrangler can replenish Walmart's inventory on an as-needed basis, this is an example of _____.
a. cookies
b. EDI
c. the Internet
d. data transference
B PTS: 1 DIF: Hard REF: p. 29
OBJ: LO: 02-04
NAT: AACSB Technology| CB&E Model Online/Computer| Blooms Application
27. Where does the content for a particular website physically reside?
a. content provider
b. electronic data interchange
c. host
d. Intranet
C PTS: 1 DIF: Moderate REF: p. 30
OBJ: LO: 02-04
NAT: AACSB Technology| CB&E Model Online/Computer| Blooms Knowledge
28. Parties that furnish information on the World Wide Web are called _____.
a. browsers
b. content providers
c. search engines
d. hosts
B PTS: 1 DIF: Moderate REF: p. 31
OBJ: LO: 02-04
NAT: AACSB Technology| CB&E Model Online/Computer| Blooms Knowledge
29. What is the opening screen of a Web site called?
a. cookie
b. home page
c. hyperlink
d. browser
B PTS: 1 DIF: Moderate REF: p. 31
OBJ: LO: 02-04
NAT: AACSB Technology| CB&E Model Online/Computer| Blooms Knowledge
30. A Web site address that Web browsers recognize is called a(n) _____.
a. URL
b. EDI
c. DSS
d. UPC
A PTS: 1 DIF: Moderate REF: p. 31
OBJ: LO: 02-04
NAT: AACSB Technology| CB&E Model Online/Computer| Blooms Knowledge
31. www.fda.gov, www.nike.com, and www.fsu.edu are examples of _____.
a. EDIs
b. URLs
c. DSSs
d. UPCs
B PTS: 1 DIF: Hard REF: p. 31
OBJ: LO: 02-04
NAT: AACSB Technology| CB&E Model Online/Computer| Blooms Application
32. Yahoo! and Google are examples of _____.
a. home pages
b. search engines
c. ISPs
d. CRMs
B PTS: 1 DIF: Hard REF: p. 31
OBJ: LO: 02-04
NAT: AACSB Technology| CB&E Model Online/Computer| Blooms Application
33. A(n) _____ searches through the Internet almost instantly looking for content containing specific words.
a. environmental scan
b. history sniff
c. web craw
d. keyword search
D PTS: 1 DIF: Easy REF: p. 31
OBJ: LO: 02-04
NAT: AACSB Technology| CB&E Model Online/Computer| Blooms Knowledge
34. Karl is searching “digital cameras” in Google to learn more about the brands available and prices for each. Karl is performing a(n) _____.
a. predictive analysis
b. keyword search
c. environmental scan
d. history sniff
B PTS: 1 DIF: Hard REF: p. 31
OBJ: LO: 02-04
NAT: AACSB Technology| CB&E Model Online/Computer| Blooms Application
35. What type of medium is the Internet?
a. interactive medium
b. one-way medium
c. flow medium
d. ionic medium
A PTS: 1 DIF: Hard REF: p. 31
OBJ: LO: 02-04
NAT: AACSB Technology| CB&E Model Online/Computer| Blooms Comprehension
36. Melanie is using the Internet to gather information designed to detect changes in her company’s external operating environment. What is Melanie performing?
a. environmental scanning
b. behavioral tracking
c. search engine optimization
d. electronic data interchange
A PTS: 1 DIF: Hard REF: p. 32
OBJ: LO: 02-04
NAT: AACSB Reflective Thinking| CB&E Model Research| Blooms Application
37. In which type of technology does the consumer request information from a Web page and the browser then determines a response?
a. Intranet
b. push technology
c. pull technology
d. interactive technology
C PTS: 1 DIF: Moderate REF: p. 32
OBJ: LO: 02-04
NAT: AACSB Technology| CB&E Model Online/Computer| Blooms Knowledge
38. When amazon.com recommends books for purchase when a customer who has ordered books from Amazon previously returns to the site, this is an example of _____.
a. push technology
b. electronic data interchange
c. pull technology
d. a URL
A PTS: 1 DIF: Hard REF: p. 32
OBJ: LO: 02-04
NAT: AACSB Technology| CB&E Model Online/Computer| Blooms Application
39. When an Internet user sets up his computer so that it will send him regular news about his favorite professional football team, this is an example of the application of _____.
a. push technology
b. pull technology
c. smart agent software
d. RFID
C PTS: 1 DIF: Hard REF: p. 33
OBJ: LO: 02-04
NAT: AACSB Technology| CB&E Model Online/Computer| Blooms Application
40. When you visit websites, most likely a small computer file that records your Web usage history is created. Often this is done so the site will know you when you return and you won’t have to reenter information if you have already done so on that site. This small computer file is called a(n) _____.
a. electronic data exchange
b. cookie
c. URL
d. Intranet
B PTS: 1 DIF: Hard REF: p. 33
OBJ: LO: 02-04
NAT: AACSB Technology| CB&E Model Online/Computer| Blooms Application
41. Most companies use a private data network that uses Internet standards and technology but only allows those individuals whom the organization deems as appropriate participants to access data. This is an example of a(n) _____.
a. Intranet
b. smart network
c. internal source
d. content provider
A PTS: 1 DIF: Moderate REF: p. 33
OBJ: LO: 02-04
NAT: AACSB Technology| CB&E Model Online/Computer| Blooms Application
42. Which of the following is a collaborative effort involving many universities, government entities, and corporations?
a. Intranet
b. Internet2
c. Web2.0
d. smart agent network
B PTS: 1 DIF: Moderate REF: p. 33
OBJ: LO: 02-04
NAT: AACSB Technology| CB&E Model Online/Computer| Blooms Knowledge
COMPLETION
1. In information technology, _____ is data formatted (structured) to support decision-making or define the relationship between two facts.
2. Information that is accurate, valid, and reliable is said to be of high ______.
3. Information that is provided when a manager needs it to make an important decision is said to be ______.
4. When a manager has sufficient information to make a good decision, the information is said to be ______.
5. _____ management is the process of creating an inclusive, comprehensive, easily accessible organizational memory, which is often called the organization’s intellectual capital.
6. A computer-based system that helps managers to solve problems through interaction with databases is known as a(n) ______.
7. A decision support system that gathers information about customers such as sales history and customer preferences is known as a(n) _____ system.
8. Numerical, text, voice, and image data that enter a decision support system are known as ______.
9. _____ data refers to the accumulated records resulting from point-of-sale data recordings.
10. An _____ occurs when one company's computer system is integrated with another company's computer system.
11. A(n) _____ is where the content for a particular website physically resides and is accessed.
12. Parties that furnish information on the World Wide Web are called _____.
13. A website address that Web browsers recognize is called a(n) _____.
14. A computerized directory that allows users to search the World Wide Web for information based on a keyword search is called a(n) ______.
15. When a computer user types in “speed boats” in Google, he or she is conducting a(n) _____.
16. A medium that a person can use to communicate with and interact with other users is called a(n) _____ medium.
17. The Internet is a(n) _____ medium.
18. _____ technology refers to users requesting information from a web page and the browser then determining a response.
19. ______ software is capable of learning an Internet user’s preferences and automatically searching out information and distributing the information to a user’s computer.
20. A company's private computer network that uses Internet standard but which is accessible only by its own employees is known as a(n) ______.
ESSAY
1. Going from data to information to intelligence is like a funnel. Explain what that means.
2. A manager is considering purchasing data from an outside vendor to get a better understanding of the target market for his firm’s services. What factors should the manager consider when evaluating the data’s usefulness for his needs?
3. What is knowledge management? Explain why is it important for businesses to manage knowledge.
4. Name and describe the four possible functions research serves in business.
5. Explain what a decision support system (DSS) is and how it helps managers.
6. Compare and contrast pull technology and push technology.
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