ISQS 2340 Exam 2 Review TTU-
Mitchell
1. What is a data-driven culture?: A data-driven culture uses data-driven decision making
2. Examples of Google using data and analytics?: At Google. decisions are based on data,
analytics and scientific experimentation.
Tried to answer the question of: Do managers matter?Determine the data to use (see what's available an
what might be needed) • Performance reviews (top-down) and employee surveys (bottom-up) of manage
• Looking for variability: Top and bottom quartiles • Analyze the data using statistical methods
3. The abundance of data, and its implications and the potential benefits from analytics for
businesses?: Big Data - The sheer volume of data
• Increased efficiency • Improved operations • Enhanced customer retention
4. Purpose and usefulness of Tableau and data visualization in general?: Data visualization is not a
personal preference, to be done "just in case some people are more visual." It is a necessity! • The
previous slide is a classic example of how some insights can only be found through visualization.
Remember the picture superiority effect: pictures are retained at much higher rates than words.A good
visualization reduces the time to insight.
5. Value creation with data analytics (think exchange transactions and un- certainties)?: NO pie
charts! Yes to scatterplots for exploring relationships. Yes to treemaps for relative proportions. Orient
data so people can read it (better to have a horizontal bar chart than a vertical bar chart). Filled maps
with only one measure, dash boarding
6. what is blockchain technology?: A blockchain is a distributed ledger of trans- actions
7. Blockchains lineage (where it came from/ first used)?: A block consists of multiple timestamped
transactions • Multiple blocks are joined together in a chain • Nodes are connected devices that have a
copy of the entire blockchain • The nodes are periodically synchronized to ensure consensus
8. What are the main parts of blockchain technology?: 1. Users initiate transac- tions using their
Digital Signatures. 2. Users Broadcast transactions to Nodes. 3. One or more Nodes begin validating
each transaction. 4.Nodes aggregate validated transactions into Blocks. 5. Nodes broadcast blocks to
each other. 6. Consensus protocol used. 7. Block reflecting "true state" is chained to prior Block.
9. Implications of blockchain buyers, sellers, and the middleman?: The blockchain has the
potential to reinvent any transaction that now requires going through a middleman, including
finance, banking, contacts, and retail.
10.Blockchain applications: • Cryptocurrencies, such as Bitcoin, Ethereum, Lite- coin, etc. • Digital
identity • Any application where a secure, immutable record must
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Mitchell
1. What is a data-driven culture?: A data-driven culture uses data-driven decision making
2. Examples of Google using data and analytics?: At Google. decisions are based on data,
analytics and scientific experimentation.
Tried to answer the question of: Do managers matter?Determine the data to use (see what's available an
what might be needed) • Performance reviews (top-down) and employee surveys (bottom-up) of manage
• Looking for variability: Top and bottom quartiles • Analyze the data using statistical methods
3. The abundance of data, and its implications and the potential benefits from analytics for
businesses?: Big Data - The sheer volume of data
• Increased efficiency • Improved operations • Enhanced customer retention
4. Purpose and usefulness of Tableau and data visualization in general?: Data visualization is not a
personal preference, to be done "just in case some people are more visual." It is a necessity! • The
previous slide is a classic example of how some insights can only be found through visualization.
Remember the picture superiority effect: pictures are retained at much higher rates than words.A good
visualization reduces the time to insight.
5. Value creation with data analytics (think exchange transactions and un- certainties)?: NO pie
charts! Yes to scatterplots for exploring relationships. Yes to treemaps for relative proportions. Orient
data so people can read it (better to have a horizontal bar chart than a vertical bar chart). Filled maps
with only one measure, dash boarding
6. what is blockchain technology?: A blockchain is a distributed ledger of trans- actions
7. Blockchains lineage (where it came from/ first used)?: A block consists of multiple timestamped
transactions • Multiple blocks are joined together in a chain • Nodes are connected devices that have a
copy of the entire blockchain • The nodes are periodically synchronized to ensure consensus
8. What are the main parts of blockchain technology?: 1. Users initiate transac- tions using their
Digital Signatures. 2. Users Broadcast transactions to Nodes. 3. One or more Nodes begin validating
each transaction. 4.Nodes aggregate validated transactions into Blocks. 5. Nodes broadcast blocks to
each other. 6. Consensus protocol used. 7. Block reflecting "true state" is chained to prior Block.
9. Implications of blockchain buyers, sellers, and the middleman?: The blockchain has the
potential to reinvent any transaction that now requires going through a middleman, including
finance, banking, contacts, and retail.
10.Blockchain applications: • Cryptocurrencies, such as Bitcoin, Ethereum, Lite- coin, etc. • Digital
identity • Any application where a secure, immutable record must
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4
