Your Textbook Differentiates the Terms "Data", "Information" and "Knowledge

question 181

Multiple Choice

Your textbook differentiates the terms "data", "information" and "knowledge". With regard to a customer satisfaction application for the automobile industry, which of the following is an example of a database?

• A) The ability to create a program that provides rewards for dealerships with high levels of customer satisfaction and corrective action plans for dealerships that have low levels of satisfaction.
• B) The Web-based application that collects and stores records of customer satisfaction surveys and allows dealerships to view their data.
• C) Reports that summarize ratings for a specific dealership including a calculation of the average rating across all survey questions and a calculation of summary statistics for groups of questions that correspond to important dimensions such as dealership staff, satisfaction with product, quality of service and so on.
• D) Records containing numerical ratings from customer surveys completed online after each visit to a dealership.

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Definitions:

Risks

The potential for losing something of value or the chance of an adverse outcome.

Hurdle Rate

The minimum acceptable rate of return on an investment, used as a benchmark for deciding whether to pursue a project.

Internal Rate of Return

A calculation used to evaluate the profitability of potential investments.

Payback Period

The length of time it takes to recover the initial cost of an investment.