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Information Systems and Knowledge Management

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Chapter 2—Information Systems and Knowledge Management TRUE/FALSE 1. Data, information, and intelligence all have the potential to create value to the firm through better decision making. ANS: T REF: p. 18 2. Data are a subset of market intelligence. ANS: F REF: p. 18 Market intelligence is the subset of data and information. There is more data than information, and more information than intelligence. 3. Relevant data are facts about things that cannot be changed. ANS: F REF: p. 19 Relevant data are facts about things that can be changed, and if they are changed, it will materially alter the situation. 4. Timely data are the most current data. ANS: F REF: p. 20 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. 5. Knowledge cannot be managed. ANS: F REF: p. 21 Knowledge management is the process of creating an inclusive, comprehensive, easily accessible organizational memory, which is often called the organization’s intellectual capital. 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. ANS: F REF: p. 23 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. 7. The purpose of a decision support system is to store data and transform data into information that is easily accessible to managers. ANS: T REF: p. 23 8. The goal of a CRM system is to describe customer relationships so that managers can access information themselves. ANS: T REF: p. 23 9. A decision support system requires databases and software. ANS: T REF: p. 23 10. A data warehouse is the multi-tiered computer storehouse of current and historical data. ANS: T REF: p. 24 11. Input data can come from internal sources of the organization, but not from external sources. ANS: F REF: p. 24 Input data come from both internal and external sources.12. Proprietary marketing research is available to anyone via the Internet. ANS: F REF: p. 24 Proprietary marketing research is the gathering of new data to investigate specific problems and is otherwise not available. 13. An organization's salesforce frequently provides important business intelligence information. ANS: T REF: p. 25 14. Modern technology provides new ways of tracking human behavior. ANS: T REF: p. 26

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