Final exam questions on digital economy for final exam

What kind of benefits does Big Data analytics give for businesses?

Key words: analyze consumer data, behavior, help decision making, data pattern, what-if analysis, customer acquisition and retention, targeted ads, product and service development, cost savings

35. 
    Explain how big data analytics works and four steps of data preparation process.
    

Key words: 4 steps of Big Data analytics, data collection, data processing, data cleansing, data analyzing

36. 
    Explain challenges of Big Data analytics.
    

Key words: accessibility of data, data quality maintenance, data security, choosing the right tools, potential lack of skills

37. 
    Please, explain Internet of Things and its importance.
    

Key words: network of physical objects, sensors, software, and other technologies, connection, sophisticated industrial tools, hyper-connected world, artificial intelligence

38. 
    What technologies have made IoT possible?
    

Key words: access to low-cost, low-power sensor technology, cloud computing technologies, machine learning and analytics, conversational artificial intelligence,

39. 
    Talk about industrial IoT (IIoT) and its usage.
    

Key words: smart manufacturing, connected assets and preventive and predictive maintenance, smart power grids, smart cities, connected logistics, smart digital supply chains

40. 
    Define digital business and explain its main characteristics.
    

Key words: application of digital technologies, innovating products and services, work-from-home, customer-centric, technology-focused business models, flexibility, scalability, culture, quality

41. 
    Types of business models in the digital economy.
    

Key words: high-frequency trading (HFT), E-commerce, payment services, application stores, online advertising, cloud computing, participative-networked platforms

42.