Quiz 1: Data Management - Data Management School

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Test Your Knowledge on Data Management, by completing this quiz.

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Please select the correct definition of Data Management (DM) from the following options.

DM is the development, execution, and supervision of plans, policies, programs, and practices that deliver, control, protect, and enhance the value of data and information assets throughout their lifecycles.

DM is the strict control of all plans, policies, programs and practices that enable the organizational strategy to be successfully executed.

DM is the practices that deliver, control, protect, and enhance the value of data and information assets throughout their lifecycles.

DM is the development, execution and supervision of plans, policies, programs and practices that deliver, control, protect and enhance the value of information assets throughout their lifecycle.

None

Is a Data Management Professional (DMP) only works with the technical aspects related to data?

Yes

None

Data and Information have been called as the 'Currency', 'Life Blood', and even the 'New Oil' of the information economy.

True

False

None

The primary driver for data management is to.....

enable financial and physical assets to get value from those.

enable organization to reduce data assets.

enable organizations to get value from their data assets.

collect and manage data for the organization.

None

Within an organization, which of the following are the goals of data management? (Multiple Select)

Capturing, storing, protecting, and ensuring the integrity of data assets

Ensuring the quality of data and information

Ensuring data can be used effectively to add value to the enterprise

All of the above

None

Select the best answer for the following options to establish a line between "Data" and "Information".

Data has been called the “data in context” and information has been called “raw material of information”.

Data has been called the “raw material of information” and information has been called “data in context”.

Data has been called the “raw context of information” and information has been called “Information in context”.

None of the above.

None

Differentiating between data and information. Please select the correct answers based on the sentence below: [1] A compliance report for the last month. [2] This report is prepared from the data from the compliance data mart. [3] Next quarter the above results [4] will be used to generate month-over-month performance measures

[1] Data, [2] Data, [3] Information, [4] Information

[1] Information, [2] Data, [3] Data, [4] Information

[1] Data, [2] Data, [3] Data, [4] Information

[1] Information, [2] Information, [3] Information, [4] Data

None

Data is an organizational asset. Data can become an organizational liability as well.

True

False

None

Select the correct principle from the following list that recognize salient features of data management and guide data management practice.

Data is an asset with unique properties

The value of data can and should be expressed in economic terms

Managing data means managing the quality of data

All of the above

None

10.

Data Differs from Other Assets

True

False

None

11.

Poor quality data is costly to any organization. Please select the correct answer that describes where the cost comes from?

Organizational inefficiencies or low productivity

Compliance costs or fines

Scrap and rework

All of the above

None

12.

Select the benefits of high quality data.

Higher productivity

Reduced risk

Competitive advantage gained from insights on customers, products, processes, and opportunities

None

13.

Data Management is not Cross Functional.

True

False

None

14.

Low quality data represents risk. Select the correct reasons for this.

A. its information is not right

B. it can be misunderstood and misused

Both A and B

None of the above

None

15.

Information gaps represent enterprise liabilities with potentially profound impacts on operational effectiveness and profitability.

True

False

None

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