Business and Data Concepts

An “asymmetric competitor” is a company from a totally different industry (like Netflix competing with cable TV).

• A company from the same industry

• A company from a different industry

• A company with similar products

• A company with a similar business model

A "zero-sum game" in competition is a situation where:

• one participant's gain is exactly balanced by the losses of other participants.

• all participants can gain simultaneously.

• the outcome is unpredictable and random.

• the total gains and losses are not equal.

Data is called the “new oil” because:

• It is expensive.

• It is valuable.

• It is renewable.

• It is a liquid.

What’s “big data”?

• Huge amounts of info from everywhere—social media, sensors, apps—that computers analyze for patterns.

• A small dataset used for personal analysis.

• A type of computer hardware.

• A programming language.

How do businesses use data?

• To predict trends and fix problems

• To hire new employees

• To increase office space

• To reduce working hours

Why break down “data silos”?

• To improve data sharing between departments and see the big picture

• To create more data silos

• To reduce data accuracy

• To increase data storage costs

Data improves customer service by:

• Providing personalized experiences

• Reducing operational costs

• Increasing product variety

• Enhancing employee satisfaction

What’s “predictive analytics”?

• A method for analyzing current data to predict future outcomes

• A technique for storing large amounts of data

• A process for cleaning and organizing data

• A tool for visualizing data

The word 'adversary' is defined as:

• a friend or ally

• an opponent or enemy

• a type of clothing

• a musical instrument

The word 'baffle' is defined as:

• to confuse or perplex

• to enlighten or clarify

• to entertain or amuse

• to ignore or neglect