Part 1: Below you will see 8 Statements. Mark TRUE or FALSE. (4 points)

1. _____ Big Data is used to describe the massive amounts of data available to todays managers. The four Vs of Big Data are volume, velocity, variety, and veracity.
2. _____ Data warehouses are composed of proprietary internal data and data marts take advantage of data from external sources and third-party firms.
3. _____ Data mining refers to computer assisted process of digging through and analyzing enormous sets of data to extract meaning or hidden patterns. The patterns may include associations, sequences, clustering, and classification.
4. _____ Transaction Processing Systems (TPS) are systems that record transactions or business-related exchanges, such as a cash register sale, ATM withdrawal or product return. They are the core of most Business Intelligence systems for analysis and reporting purposes.
5. _____ Online Analytical Processing (OLAP) puts business users in control so that they can create custom reports on an as-needed basis by selecting dimensions, fields, ranges, summary conditions, and other parameters.
6. _____ Designing a marketing plan or developing a website are examples of semi-structured decisions, which refers to decisions that are repetitive, routine, and often involve definite procedure for handling the decision.
7. _____ Hadoop is a Business Intelligence tool that can gather data from multiple resources, and allow users to explore relationships and create powerful, consolidated reports and charts.
8. _____ Dashboards are multilayered performance management systems, built on a business intelligence and data integration infrastructure, that enable organizations to measure, monitor, and manage business activity using financial and non-financial measures.