WorksheetsCH5_Data Sources
Total questions: 10
Worksheet time: 5mins
What is one key risk of using internal data?
High costs associated with accessing it
Potential biases and limited scope
Lack of security and reliability
Inability to use it for business decisions
What is master data?
All data in the organization
Core business data that rarely changes
Customer transaction data
External market data
What is the main benefit of using data marketplaces?
Free data access
Access to a wide variety of data sources
Simplified data storage
Reduced security risks
What is an example of internal data?
Social media trends
Employee payroll records
Government reports
Competitor pricing data
What type of data do companies get from external sources?
Customer transactions
Supplier contracts
Market research reports
Employee performance reviews
What does a data contract define?
Data storage requirements
Rules for data sharing and usage
How AI processes data
The price of data analytics tools
What is a common issue with external data?
It is always outdated
It may be expensive and inconsistent
It is more reliable than internal data
It does not require validation
Who are the two main parties involved in a data contract?
Buyers and sellers
Users and administrators
Contributors and consumers
Owners and processors
Which of the following is NOT a key consideration in data management?
Data quality
Data security
Data marketing
Data governance
Which of the following is a key component of internal data sources?
Social media data
Market research
Enterprise systems data
Public databases
