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70 Cards in this Set
- Front
- Back
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What is Business Intelligence?
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-A broad category of applications, technologies, and processes for gathering, storing, accessing, and analyzing data to help business users make better decisions
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What are examples of BI systems that you might have used?
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-Individuals may have used small-scale BI applications, such as Excel spreadsheets to provide some BI functions
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What can add BI capabilities to Microsoft Excel, allowing the program to interact with other tools and databases, creating ““Excel on steroids”?
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-Plug-ins
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What is management?
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- A process by which an organization achieves its goals through the use of resources
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List the Decision Making steps in order.
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- Input
- Process (Management) - Output |
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Input involves?
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- People
- Money - Materials - Information |
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Process (management) involves what?
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- Interpersonal roles
- Informational roles - Decisional roles |
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Output means
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- Achieving the organization's goals
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Explain the meaning of "decision".
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- A choice among two or more alternatives made by individuals and groups
- Diverse in nature and made continuously. - Decision making is a systematic process |
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Explain the Phases of the Decision Making Process.
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-First, is Examination or Intelligence Phase (what is the problem)
- Second, is Validation of the Model or Design Phase (what are my options) - Third, is Verification, Testing of the Model or Choice Phase (Pick an option and decide how to implement it.) - Fourth, is Implementation of Solution - 5th, ask "Did my option work as proposed" - If no, it was a failure then you must repeat phases. - If yes, then it was a sucess - All based off REALITY. |
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Why do Managers need IT support? (4 reasons)
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- The number of alternatives to be considered increases constantly.
- Decisions must be made under time pressure. - Decisions are becoming more complex. - Decision makers can be situated in different locations, as can the information they need |
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What information technologies are available to support managers?
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- Computer hardware
- software - Electronics - Semi-conductors - Internet - Tele-com equipment - E-commerce - Computer services |
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What are the three types of problem structures of decisions?
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- Unstructed( Fuzzy, complex problems with no-cut-and dried procedures and solutions)
- Semistructured - Structured (Routine and competitive problems with standard procedures and solutions |
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What are the two dimensions of decisions?
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- Problem structures
- The nature of decisions |
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What are three types of nature of decisions?
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- Operational control (Executive specific tasks efficiently and effectively)
- Management control (Acquiring and using resources efficiently in accomplishing organizational's goals) - Strategic planning (Long-range goals and policies for growth and resource allocation |
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What is the decision making framework used for unstructured decisions within operational control? And which managers perform these tasks?
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- Accounts receivable, order entry
- Lower-level managers -1 |
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What is the decision making framework used for unstructured decisions within management control? And which managers perform these tasks?
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- Budget analysis, short-term forecasting, personnel reports, make-or-buy analysis
- Lower-level managers - 2 |
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What is the decision making framework used for unstructured decisions within strategic planning? And which managers perform these tasks?
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- Financial management (investment)
- Warehouse location - Distribution Systems - Middle managers and staff -3 |
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What is the decision making framework used for semistructured decisions within operational control? And which managers perform these tasks?
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- Production scheduling, inventory control
- Lower level managers -4 |
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What is the decision making framework used for semistructured decisions within management control? And which managers perform these tasks?
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- Credit evaluation, budget preparation, plant layout, project scheduling, reward systems design
- Middle managers and staff -5 |
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What is the decision making framework used for semistructued decisions within strategic planning?And which managers perform these tasks?
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-Building new plant, mergers and acquisitions, new product planning, compensation planning, quality assurance planning
- Senior executives - 6 |
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What is the decision making framework used for structured decisions within operational control? And which managers perform these tasks?
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-Selecting a cover for a magazine, buying software, approving loans
- Middle managers and staff - 7 |
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What is the decision making framework used for structured decisions within management control? And which managers perform these tasks?
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- Negotiating, recruiting an executive, buying hardware, lobbying
- Senior executives - 8 |
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What is the decision making framework used for structured decisions within strategic planning? And which managers perform these tasks?
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- R & D planning, new technology development, social responsibility planning
- Senior Executives - 9 |
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What support is needed for unstructured decisions?
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- MIS, management science models, financial and statistical models
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What support is needed for semistructured decisions?
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- DSS
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What support is needed for structured decisions?
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- DSS, ES, neural networks
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What support is needed for operational control decisions?
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- MIS, management science
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What support is needed for management control decisions?
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- Management science, DSS, EIS , ES
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What support is needed for strategic planning decisions?
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- EIS, ES, neural networks
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What are some popular BI software vendors?
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- SAS, Hyperion, Business Objects, SPSS, COGNOS, Information Builders
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What is involved in the scope of BI?
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- Small organizations (Excel spreadsheet)
- Large organizations (Data mining/predictive analysis, dashboard, data visualization) |
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What levels of change are involved in the data mart BI system?
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-Develop a single or a few, related BI applications
(target a point solution for a departmental need) |
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What levels of change are involved in the enterprise data warehouse? (2)
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-Develop infrastructure to support enterprise-wide BI
(support current and future BI needs) -Support for organizational transformation (transform the ways a company competes in the market) |
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What are BI applications for Data Analysis?
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- Multidimensional analysis or online analytical processing (OLAP)
- Data mining - Decision support systems (DSS) |
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Explain online analytical processing (OLAP).
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- Also called multidimensional analysis
-Provides users with a look at what is happening or what has happened -Allows users to analyze data in such a way that they can quickly answer business questions - Ex. Fig 3-11 Data Cube |
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Define data mining and explain its two basic operations.
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-The process of searching for valuable information in a large database, data warehouse, or data mart
-Predicting trends and behaviors -Identifying previously unknown patterns and relationships |
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Define decision support systems (DSS) and name its models and commonly supported applications.
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-Computer-based information systems that combine models and data in an attempt to analyze semistructured and some unstructured problems with extensive user involvement
--simplified representations, or abstractions, of reality ---Sensitivity analysis, what-if analysis, and goal-seeking analsis |
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What is Sensitivity analysis
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-A study of the impact that changes in one (or more) parts of a model may have on other parts
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What is What-If analysis
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-A study of changes in assumptions (input data) about a proposed solution and the possible impact of those changes
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What is Goal-seeking analysis
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-A study to find the input values necessary to achieve a desired level of output (backward solution)
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What are BI Applications used for presenting results
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- Dashboards (screens that have various data on various formats)
- Data visualization technologies - Real-time BI |
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Real-time BI enables users to
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-employ multidimensional analysis, data mining, and decision support systems to analyze data in real time
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What are the types of dashboards
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- Digital dashboards
- Management cockpit |
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Digital dashboards do what
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- Provide rapid access to timely info.
- Provide direct access to management reports - Are very user friendly and supported by graphics - Fig 5-3 and 5-5 |
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What is a management cockpit and name 3 benefits.
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-A strategic management room displaying a series of dashboards that helps managers pilot their businesses better
- Creates an environment that encourages more efficient management meetings and boosts team performance via effective communication -Displays key performance indicators and information relating to critical success factors graphically on the walls of the meeting room -Offers options for external information to be easily imported to the room for competitive analysis - Fig 5-6 |
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What are the capabilities of dashboards
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- drill down, critical success factors (CSFs). key performance indicators (KPIs), statues access, trend analysis, exception reporting
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Drill down means
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- The ability to go to details, at several levels. Can be done through a series of menus
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Critical success factors (CSFs) are
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- the factors most critical for the success of business. Can be organizational, industry, departmental, or for individual workers.
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Key performance indicators (KPIs) are
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- the specific measures of CSFs
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Status access are
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- The latest data available on KPIs or some other metric, often in real time.
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Trend analysis are
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- Short-term, medium-term, and long-term trend of KPIs or metrics, which are projected using forecasting methods.
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Exception reports are
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- Reports that highlight deviations larger than certain thresholds. Reports may include only deviations.
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How do you make knowledge powerful
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- With color to show correlation
- Size to show quantity - Data to display trends |
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What are the three data visualization technologies
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- Data visualization
- Geographic information systems (GIS) - Reality mining |
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What is data visualization
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-The process of presenting data to users in visual formats, thereby making IT applications more attractive and understandable to users
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What are Geographic information systems (GIS) (2)
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-A computer-based system for capturing, integrating, manipulating, and displaying data using digitized maps
-Geocoding |
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Define geocoding and a benefit.
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-The process of assigning a geographical location to every object
-Enables users to generate information for planning, problem solving, and decision making |
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What are examples of Geographic info. systems (GIS)
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-ESRI, Intergraph, Pitney Bowes Mapinfo
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Name 2 benefits of reality mining.
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-Uses GISs and Global Positioning Systems (GPSs) together
-Allows analysts to extract information from the usage patterns of mobile phones and other wireless devices |
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BI in action is
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- Corporate performance management (CPM)
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CPM (Corporate Performance Management) does what
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- Monitors and manages an organization's performance according to KPIs
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Examples of KPIs are
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- Revenue, return on investment (ROI), overhead, and operational costs
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What's in IT for me (6 fields)
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- Accounting, Finance, Marketing, Production/Operations Management, Human Resources Management, MIS
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Accounting is involved with BI when (2)
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- Auditors use BI to uncover irregularities
- CPAs use BI for risk analysis, cost control |
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Finance is involved with BI by
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Financial-related BI applications include stock market decisions, refinancing bonds, assessing debt risks, etc.
Marketing |
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Marketing is involved with BI when
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Marketers use BI for planning and executing marketing campaigns, allocating advertising budgets, evaluating alternative routings of salespeople, etc.
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Production/Operations Management uses BI when
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BI supports complex operations and production decisions, from inventory control to production planning to supply chain integration
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BI and Human Resources Management are connected when:
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BI applications can find resumes of applicants on the Web and sort them to match needed skills and to support management succession planning
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What does MIS provide for BI
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MIS provides the data infrastructure used in BI including building, deploying, and supporting BI applications
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