Podcast
Questions and Answers
What is the ultimate goal of data science according to the text?
What is the ultimate goal of data science according to the text?
- Understanding phenomena
- Automated analysis of data
- Processes and techniques
- Improving decision making (correct)
How is data-driven decision-making (DDD) defined in the context of the text?
How is data-driven decision-making (DDD) defined in the context of the text?
- Basing decisions purely on intuition
- Not engaging in DDD to a greater or lesser degree
- Using DDD as an all-or-nothing practice
- Basing decisions on a combination of experience and data analysis (correct)
According to the text, what distinguishes data science from other aspects of data processing in the organization?
According to the text, what distinguishes data science from other aspects of data processing in the organization?
- Understanding phenomena
- Processes and techniques
- Automated analysis of data
- Improving decision making (correct)
What did Erik Brynjolfsson and his colleagues study according to the text?
What did Erik Brynjolfsson and his colleagues study according to the text?
In the context of the text, what could a marketer use to select advertisements?
In the context of the text, what could a marketer use to select advertisements?
According to the text, which aspect of data science is gaining increasing attention in business?
According to the text, which aspect of data science is gaining increasing attention in business?
What is the relationship between a firm's data-driven decision-making (DDD) and its productivity?
What is the relationship between a firm's data-driven decision-making (DDD) and its productivity?
What type of decision-making problem does the Walmart example illustrate?
What type of decision-making problem does the Walmart example illustrate?
What did Target discover about consumer behavior that influenced their decision-making?
What did Target discover about consumer behavior that influenced their decision-making?
What was Target interested in predicting about consumers?
What was Target interested in predicting about consumers?
How did Target gain an advantage over its competitors?
How did Target gain an advantage over its competitors?
What kind of indicators did Target use to predict which consumers were pregnant?
What kind of indicators did Target use to predict which consumers were pregnant?
What kind of decision-making problem does the Target case represent?
What kind of decision-making problem does the Target case represent?
What competitive advantage did Target seek by using data science?
What competitive advantage did Target seek by using data science?
Which of the following is NOT mentioned as a factor correlated with higher DDD?
Which of the following is NOT mentioned as a factor correlated with higher DDD?
What type of problem is highlighted by the use of predictive models in the Target case?
What type of problem is highlighted by the use of predictive models in the Target case?
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