Question 1 (9 marks) Read the closing case 2 in Chapter 1, "The Internet of Things".

1. Explain why it is important for business managers to understand that data collection rates from IoT devices are increasing exponentially. (2 marks)

2. Demonstrate how data from an IoT device can be transformed into information and business intelligence. (1 mark)

3. Analyze the current security issues associated with IoT devices. (4 marks)

4. Propose a plan for how a start-up company can use IoT device data to make better business decisions. (2 marks)

5. Evaluate: Argue for or against the following statement: "The Internet of Things is just a fad and will be gone within a decade." (1 mark)

Question 2 (6 marks) You have been assigned as senior director for a large manufacturing company. Your first assignment is to decide which type of MIS can best support your decision-making needs. For all of the following, determine which type of system you would use to help solve the business problem or make a business decision. Be sure to label each as strategic, managerial, or operational.

A a. You need to analyze daily sales transactions for each region.

b. You need to analyze staffing requirements for each plant.

c. You need to determine which customers are at risk of defaulting on their bills.

d. You need to analyze your competition, including prices, discounts, goods, and services.

e. You need to analyze critical success factors and key performance indicators for the status of operations.

f. You need to produce a graphical display of patterns and complex relationships for large amounts of data.

Question 3 (7 marks) Read the closing case 1," Stich Fix" in chapter 3.

1. Why does Stitch Fix employ data scientists when it operates in the fashion apparel market? ( 2 marks)

2. Which business model is Stich Fix using? 1 mark)

3. How do you mail clothes a customer will love without the customer ever getting measured or viewing the inventory? (2 marks)

4. How can you combine a unique set of algorithms and personalization to create a new kind of company? (1 mark)

5. Why is data and customer feedback critical to Stitch Fix's business model? (1 mark)