DTS - Week 4 (MC)

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Questions and Answers

What are the "3 V's" that define Big Data?

Value, Variety, Volume

Velocity, Volume, Value

Veracity, Variety, Volume

Variety, Volume, Velocity (correct)

Which of the following is NOT a key challenge in big data management?

High costs of infrastructure

Lack of internet connectivity (correct)

Privacy concerns

Biased data sources

Which type of analytics answers the question, "What should we do?"

Descriptive Analytics

Diagnostic Analytics

Prescriptive Analytics (correct)

Predictive Analytics

What is the primary goal of big data management?

Ensuring data quality and accessibility Signup and view all the answers

Which management theory treats knowledge and intangibles as critical for competitive advantage?

Knowledge-Based View Signup and view all the answers

In Mintzberg et al.'s phases of decision-making, which phase focuses on defining the problem?

Recognition Phase Signup and view all the answers

Which of the following is a key characteristic of analytics competitors?

Enterprise-wide analytics applications Signup and view all the answers

What is the main challenge associated with privacy in big data management?

Distorting data for anonymization reduces accuracy. Signup and view all the answers

What does blockchain immutability mean?

Data cannot be deleted once recorded. Signup and view all the answers

In which blockchain governance mode is control centralized within one organization?

Chief Signup and view all the answers

Which governance mode involves shared control across organizations?

Consortium Signup and view all the answers

What is a key drawback of the custodian governance mode?

It excludes key participants. Signup and view all the answers

What is the primary advantage of the connecting strategy in blockchain governance?

It allows quick integration of new organizations. Signup and view all the answers

Which blockchain governance strategy focuses on reducing external dependencies?

Isolating Signup and view all the answers

Analog governance relies on which type of control?

Centralized Signup and view all the answers

Automated governance primarily uses which form of trust?

Algorithmic trust Signup and view all the answers

What is a characteristic of augmented governance?

Actorithmic trust (human and algorithmic) Signup and view all the answers

Which governance mechanism involves organizing and aligning tasks among participants?

Coordination Signup and view all the answers

What is the focus of "governance by algorithms"?

Impact of automated systems on emotions and perceptions Signup and view all the answers

Which governance mechanism helps verify inputs and outputs?

Control Signup and view all the answers

Poor governance in digital relationships can lead to which issue?

Platform disintermediation Signup and view all the answers

Which company example highlights governance as a strategic advantage?

Apple's privacy policies Signup and view all the answers

Loosening in blockchain governance allows for which benefit?

Open mutual decisions among participants Signup and view all the answers

What distinguishes automated governance from augmented governance?

Fully decentralized systems Signup and view all the answers

Which incentive type is common in automated governance?

Cybernetic Signup and view all the answers

What does augmented governance aim to balance?

Human and algorithmic processes Signup and view all the answers

Which challenge is specific to digital governance compared to analog governance?

Mitigating cyberthreats Signup and view all the answers

What is the key determinant for selecting governance models in digital networks?

Trust mechanism type Signup and view all the answers

How do consortium governance modes ensure data security?

Consensus-based decision-making Signup and view all the answers

What is a key feature of automated coordination?

Omnilateral task engagement Signup and view all the answers

Study Notes

Big Data and Analytics Concepts

Big Data is defined by the "3Vs": Variety, Volume, Velocity.
A key challenge in big data management is privacy concerns.
Prescriptive analytics answers the question "What should we do?".
The primary goal of big data management is ensuring data quality and accessibility.
The knowledge-based view treats knowledge and intangibles as crucial for competitive advantage.
The recognition phase of decision-making focuses on defining the problem.
Key characteristic of analytics competitors is enterprise-wide analytics applications.

Blockchain Governance

Blockchain immutability means data cannot be modified after recording.
Control in blockchain governance can be centralized, as in the custodian model, or shared, as in the consortium model.
A key drawback of the custodian governance model is that it may exclude key participants.
The connecting strategy in blockchain governance facilitates the quick integration of new organizations.
The isolating strategy in blockchain governance reduces external dependencies (or risks).

Digital Governance

Analog governance relies on centralized control.
Automated governance uses algorithmic trust.
A characteristic of augmented governance is omnilateral coordination.
Coordination is a governance mechanism for organizing and aligning tasks among participants.
Governance by algorithms focuses on accountability for algorithm outcomes.
A key governance mechanism for verifying inputs and outputs is coordination.
Poor governance in digital relationships can lead to platform disintermediation.

Miscellaneous Concepts

Key companies exhibiting governance as a strategic advantage include Apple.
Loosening blockchain governance can lead to faster decision-making among participants and reduce operational dependencies.
Automated governance differs from augmented governance in lacking human oversight and having fully decentralized systems.
A common incentive type in automated governance is bureaucratic or cybernetic.
Augmented governance aims to balance human and algorithmic processes.
A particular challenge in digital governance is mitigating cyberthreats.
Cost efficiency and trust mechanism type are factors for selecting governance models in digital networks.
Consortium governance ensures data security through consensus-based decision-making.
A key feature of automated coordination is omnilateral task engagement.

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Description

Explore key concepts related to Big Data and Blockchain Governance. This quiz covers important elements such as the 3Vs of Big Data, the challenges of privacy, and the characteristics of analytics competitors. Additionally, learn about governance models in Blockchain, including immutability and control structures.