Data and Information Concept

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Questions and Answers

What is the process of defining relationships among data to create useful information called?

  • Data summarization
  • Data modeling (correct)
  • Data transformation
  • Data visualization

Why is valuable information important for decision makers?

  • It helps to identify consumer preferences
  • It eliminates the need for advanced information systems
  • It improves task performance and efficiency (correct)
  • It ensures data accuracy without any errors

What percentage of an organization's customer contact data is estimated to be wrong on average?

  • 22% (correct)
  • 15%
  • 30%
  • 5%

Which company provides services like credit services, marketing services, decision analytics, and consumer services?

<p>Experian (A)</p> Signup and view all the answers

What is fundamental to the quality of a decision?

<p>The quality of the information used in the decision (C)</p> Signup and view all the answers

What is the main difference between data and information?

<p>Data is raw facts, while information is processed data that has additional value. (B)</p> Signup and view all the answers

How can providing information to customers help companies increase revenues and profits?

<p>It stimulates sales through the free exchange of information. (D)</p> Signup and view all the answers

Using the grocery list analogy, how does arranging data in a certain way add value?

<p>By organizing data using rules and relationships. (D)</p> Signup and view all the answers

In the context of data and information, what does 'aggregated' mean?

<p>Combining data into a summarized form. (C)</p> Signup and view all the answers

How does the free exchange of information help ensure shoppers find better values?

<p>By enabling them to share recommendations and make informed decisions. (C)</p> Signup and view all the answers

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