T Level_PO4_Data Management Tools

What is data management?

• Storing data only

• Collecting, organizing, and accessing data

• Deleting data

What are the five V’s characterizing Big Data?

• Volume, Variety, Velocity, Veracity, Value

• Vision, Validation, Vortex, Variables, Volatility

• Vastness, Vibration, Vociferous, Victory, Vexation

What does a Data Management System (DMS) facilitate?

• Collection, storage, retrieval, and management of data

• Collection, storage, and disposal of data

• Management of hardware components

What does Semi-structured data contain?

• Only structured data

• Both structured and unstructured data

• Only unstructured data

In the context of Quantitative Analysis, why are charts used?

• To confuse the audience

• To summarize data visually

• To hide data trends

What is the purpose of a Decision Matrix?

• To solve a problem

• To evaluate and prioritize options based on criteria

• To eliminate all options

What does Evidence-Based Decision Making involve?

• Relying solely on intuition

• Using appropriate, current, and relevant data

• Ignoring data and relying on personal bias

What is the primary purpose of a Feasibility Study?

• To confirm predetermined decisions

• To assess the practicality and viability of a project or business proposal

• To create fictional scenarios

In a Decision Matrix, what does a higher weighted score indicate?

• The option is less desirable

• The option is more desirable

• The option is neutral

Why is Timing Feasibility important in a Feasibility Study?

• To check what profits the project will make

• To assess whether the project can be completed within a proposed timeframe

• To study the market where the project wants to venture into