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What is 'Block Chain' in the field of information technology?
  • a)
    Motherboard protection device
  • b)
    Protection of details of electronic transaction
  • c)
    Taking random snaps of electronic transactions
  • d)
    Blocking continuous electronic transactions
Correct answer is option 'B'. Can you explain this answer?
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What is 'Block Chain' in the field of information technology?a)Mother...
Block Chain is protection of details of electronic transaction. It is a growing list of records, called blocks, that are linked using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data.
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Directions: Study the following information carefully and answer the question.Many companies have made great strides in collecting and utilising data from their own activities. So far, though, comparatively few have realised the full potential of linking internal data with data provided by third parties, vendors, or public data sources. Overlooking such external data is a missed opportunity. Although external-data sources offer immense potential, they also present several practical challenges. To start, simply gaining a basic understanding of what's available requires considerable effort, given that the external-data environment is fragmented and expanding quickly. Analysing the quality and economic value of data products also can be difficult. Moreover, efficient usage and operationalisation of external data may require updates to the organisation's existing data environment. Companies also need to remain cognisant of privacy concerns and consumer scrutiny when they use some types of external data.These challenges are considerable but surmountable. Companies across industries have begun successfully using external data from a variety of sources. The investment community is a pioneer in this space. To predict outcomes and generate investment returns, analysts and data scientists in investment firms have gathered "alternative data" from a variety of licensed and public data sources, many of which draw from the "digital exhaust" of a growing number of technology companies and the public web. There are a number of steps that a company must take to use external data. To get started, organisations should establish a dedicated data-sourcing team. While online searches may appear to be an easy way for data-sourcing teams to find individual data sets, that approach is not necessarily the most effective. It generally leads to a series of time-consuming vendor-by-vendor discussions and negotiations.A more effective strategy involves using data marketplace and aggregation platforms that specialise in building relationships with hundreds of data sources, often in specific data domains—for example, consumer, real-estate, government, or company data. These relationships can give organisations ready access to the broader data ecosystem. Once the team has identified a potential data set, the team's data engineers should work directly with business stakeholders and data scientists to evaluate the data and determine the degree to which the data will improve business outcomes. To do so, data teams establish evaluation criteria, assessing data across a variety of factors to determine whether the data set has the necessary characteristics for delivering valuable insights.Data assessments should include an examination of quality indicators, such as fill rates, coverage, bias, and profiling metrics, within the context of the use case. For example, a transaction's data provider may claim to have hundreds of millions of transactions that help illuminate consumer trends. However, if the data include only transactions made by millennial consumers, the data set will not be useful to a company seeking to understand broader, generation-agnostic consumer trends. Modifications should be designed to ensure that the data architecture is flexible enough to support the integration of a continuous "conveyor belt" of incoming data from a variety of data sources. The final step is ensuring an appropriate and consistent level of quality by constantly monitoring the data used.Q. Each of the following statements is TRUE in context of the passage, EXCEPT

Read the passage carefully and answer the question that follows.The most obvious aspect of the information explosion is the vast amount of information that is readily available to managers. There are two different dimensions to this information explosion. First, the information about the operations and performance of the organization that can now be tracked and relatively easily accessed would have been literally inconceivable just a decade ago. Second, the exponential growth of the internet affords access to information outside the organization to an extent and with an ease that defies the imagination. Instead of being constrained by the lack of needed information, the challenge has shifted to identify what is relevant from an overwhelming mass of available data.Within the organization, the integrated systems offered by software such as SAP and Oracle allow senior managers to “drill down” to the smallest transaction. While it is patently absurd for the CEO of a major company to go down to the detail of a trivial accounting transaction in a small and remote sales office, this access to operational information can be and is being put to effective use by top management.The availability of information on the Internet now makes competitive and industry analyses very' much easier and considerably more effective. While seated in Mumbai it is possible to get a handle on the leadership wrangles at Marks and Spencer in London and their impact on the company's international expansion plans, the financial market problems and political instability in South East Asia, and the consequent trends in Brazilian imports of Indian- made garments.Q. What has been the effect of information explosion as far as organizations are concerned?

Directions: Read the following passage carefully and answer the given question.The system of managing a companys interaction with current and future customers is called Customer Relationship Management or CRM. It makes use of modern technology to organise, automate and synchronise the following four areas; sales, marketing, customer service and technical support.CRM is designed to track and measure marketing campaigns over a variety of networks. These systems can track customer analysis by customer clicks as well as sales. Specifically, these systems are used in call centres, social media, direct mail, data storage files, banks and customer data queries. One unique aspect of this is that it can assist in formulating customer profiles.The goal of these systems is to track customers and their responses, record these responses and store them in databases and then mine this data for information that will improve customer relations. The CRM system codifies the interactions between companies and their customers in order to maximise sales. They make use of analytics and key performance indicators to give users much information on where to focus their marketing and customer service to maximise revenues as well as to decrease idle and unproductive contact with customers. Contact channels such as contact centres make use of CRM software. The software helps to direct customers to the right agent or information channel (such as informational recordings or automated bill payment or appointment scheduling). One key feature of CRM software is that it can be used to identify and reward loyal customers over a period of time, which can enhance customer relationships.One common function that CRM software is used for is to synchronise suitable appointment dates, times and methods for customer contact. Once the appointments are saved in the systems calendar, the information regarding the appointment can be easily retrieved. It can pull up information on specific information and then send an automated message as a reminder to the involved persons.Because of modern technology, the environment often requires businesses to interact with each other via the web. Because of this, The Sweeny Group defines CRM as being all the tools, technologies and procedures that are required to manage, improve or facilitate sales, customer/technical support and all related interactions with customers, prospective customers and business partners throughout the entire venture. Based on this definition, it is assumed that CRM is involved in every business to business transaction.The general concept is that CRM systems were created for customer-centric businesses, but they can also apply to business to business environments. In this sense, they are used to streamline and improve customer management conditions. Both systems (business to customer, business to business) are not created equal and are different in application. This is because relationships between business to business take longer to come to fruition than the business to customer. With this in mind, all softwares used for CRM must be personalised and delivered at individual levels.Q.Why does the author recommend that CRM software be personalised and delivered at individual levels?

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What is 'Block Chain' in the field of information technology?a)Motherboard protection deviceb)Protection of details of electronic transactionc)Taking random snaps of electronic transactionsd)Blocking continuous electronic transactionsCorrect answer is option 'B'. Can you explain this answer?
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