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62 Cards in this Set
- Front
- Back
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A standard format for exchanging business data. Used extensively as a means to improve purchasing efficiencies between an organization and its suppliers
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Electronic Data Interchange (EDI)
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A program which directs customers to use touch-tone phones or keywords to navigate or provide information at customer service call centers. Intended to connect customers with a representative or with a response system that meets their specific needs
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Interactive voice Response (IVR)
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A markup language that defines the format and the content of data, unlike HTML which only specifies format. XML specifies what an item of data is, not just how it should be formatted. It can be used to both store and exchange data.
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Extensible Markup Language (XML)
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A display of information from a variety of sources that has been pieced together to aid in decision making
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Digital Dashboard
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Protocol (rules) for communicating over the Internet (along with TCP). TCP is in charge of keeping track of data packets that make up the message being sent over the Internet. Messages are broken up into packets for efficient transmission.
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Transmission Control Protocol (TCP)
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IP specifies the format of packets, also called datagrams, and the addressing scheme. IP address is a set of four numbers, separated by periods
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Internet Protocol (IP)
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Manages and distributes software applications to users over a WAN (such as the Internet). Software runs on the ASP’s servers, not the customers
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Application Service Provider (ASP)
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Telecommunications network technology that uses existing twisted-pair cables (the telephone wiring in most homes) for high-speed connections, typically to the Internet. “Last-mile” technology
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Digital Subscriber Line (DSL)
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supports traditional transaction processing for customer-facing operations [Example: customer self-service (order tracking)]
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Operational Component
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directed toward improving customer interactions [Example: live-chat]
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Collaborative Component
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technologies and processes used to analyze customer data [Example: customer segmentation, customer profiling]
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Analytical Component
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cross-selling/up-selling, campaign management
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Marketing Automation
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contact management, product configuration
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Sales Force Automation
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technician dispatch, defect tracking
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Field Service
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call management, integration with marketing, sales-force and field-service management
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Contact Centers
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“Business process of managing the complex interaction of products, materials, equipment, labor, and cash as they flow through the supply chain and fulfill customer demand.”
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Supply Chain Management
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3 Major “Roadblocks” to Installing SCM Systems
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1) Gaining trust from your suppliers and partners
2) Internal resistance to change 3) Many mistakes at first |
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4 Major Supply Chain Decisions
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production, inventory, location, transportation
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3 Common Forms of Data Mining Analysis Capabilities
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Cluster Analysis, Association Detection, Statistical Analysis
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identifies “affinities” among customers’ product/service choices. If you buy a certain group of items, you’re more (or less) likely to buy another item(s). Uses data sources such as check-out scanner data.
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Market Basket Analysis
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In business, information largely serves two purposes
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1) Support operations
2) Decision making |
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Good decision making requires
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1) Good information, and
2) Good decision making process, skills, and tools |
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Importance of Decision Making Skills
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1) Moving “up the ladder” requires decision making ability
2) Decisions get more difficult 3) Decisions have greater impact |
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What are the eight steps in the Decision Making Process
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1) Definition
2) Requirements 3) Goals 4) Alternatives 5) Evaluation 6) Decision-Making Tool 7) Apply 8) Check |
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help discriminate among alternatives. Objective measures of the goals, used to measure how well the alternative meets a goal.ia
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Decision Criteria
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Decision Criteria should
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1) Discriminate among the alternatives
2) Include all goals (each goal should have at least one criterion) 3) Be few in number |
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List the good and bad about each alternative. Pick the alternative with the strongest pros and weakest cons. Good for simple decisions with few alternatives and few discriminating criteria.
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Pros/Cons Analysis
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Determine the probable benefits of each alternative and weigh against the probable costs. Choose the alternative with lowest cost/benefit ratio. Discounting (net present value).
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Cost/Benefit Analysis
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Compare each alternative against all other alternatives. The alternative that “wins” the most comparisons is chosen.
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Paired Comparisons
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Analyze possible future events by comparing future alternative outcomes. Allows more complete consideration of possible outcomes and implications
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Scenario Analysis
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models information to support managers and business professionals during the decision-making process
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Decision Support System (DSS)
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What are the 3 Quantitative Models Typically Used by decision support systems
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1) Sensitivity Analysis
2) What-If Analysis 3) Goal-Seeking Analysis |
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coming together of various technologies
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Convergence
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The value of the technology increases with the addition of each new person using it. When a technology hits “critical mass” it may pull other technologies along with it
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Critical Mass
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the ability of systems running in different operating environments to communicate and work together. This is a critical issue in e-business.
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Interoperability
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4 Categories of E-business
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1) Business to Business
2) Business to Consumer 3) Consumer to Consumer 4) Government to Constituent |
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the largest category by far, approaches: exchanges and direct sales
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Business to Business
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electronic stores, clicks and bricks (clicks and mortar), online auctions, electronic mall, promotion and customer service sites, content and advertising sites, subscription models, clubs and communities
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Business to Consumer
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auctions and classifieds, meetings, buddy lists, discussion groups. eBay is a good example of C2C.
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Consumer to Consumer
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information regarding services, permits and licenses, portals and “welcome mat” to visitors, voting and governance
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Government to Constituent
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how a company generates revenue: architecture of the business- flow of goods/services, description of benefits for entities involved, sources of revenue. Without a solid business model, there’s little chance of survival
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Business Model
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4 Business-to-Business E-Business Models
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1) Catalogue Aggregators
2)Auction Model 3) Market Exchange Model 4) Barter Model |
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how a company generates revenue: architecture of the business- flow of goods/services, description of benefits for entities involved, sources of revenue. Without a solid business model, there’s little chance of survival
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Business Model
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cutting out some of the steps in the supply chain
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Disintermediation
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4 Business-to-Business E-Business Models
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1) Catalogue Aggregators
2)Auction Model 3) Market Exchange Model 4) Barter Model |
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4 “Other” Organizational Impacts of E-Business
o Channel conflict |
1) Channel conflict
2) New markets 3) New products 4) New competition |
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cutting out some of the steps in the supply chain
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Disintermediation
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Dimensions of Information Quality
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1) Relevance
2) Accuracy 3) Timeliness 4) Completeness 5) Consistency 6) Format |
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4 “Other” Organizational Impacts of E-Business
o Channel conflict |
1) Channel conflict
2) New markets 3) New products 4) New competition |
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Dimensions of Information Quality
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1) Relevance
2) Accuracy 3) Timeliness 4) Completeness 5) Consistency 6) Format |
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one goal of CRM systems is to cross sell products more effectively
TRUE OR FALSE |
TRUE
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Sourcing is one of the five basic components of SCM
TRUE OR FALSE |
TRUE
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Querying and reporting are NOT considered part of business intelligence
TRUE OR FALSE |
FALSE
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Poor data quality is a potential problem with implementing BI
TRUE OR FALSE |
TRUE
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Goals are conditions that any acceptable solution must meet
TRUE OR FALSE |
FALSE
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One advantage of a disciplined decision making approach is that it helps communicate the rationale for the decision made
TRUE OR FALSE |
TRUE
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A lack of objectivity always means that information in that source is unrealistic
TRUE OR FALSE |
FALSE
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According to one of our readings for today, it is possible to have too much information
TRUE OR FALSE |
TRUE
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Supply chain activities include all but which of the following:
A) sourcing B) customer self-service C) logistics D) processing |
B) Customer Self-service
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Which of the following is NOT a goal of customer relationship management systems
A) manage multiple channels of customer interaction B) provide an integrated view of each customer C) provide smooth integration of all logistics information D) enable analysis of customer-related information |
C) Provide smooth integration of all logistics information
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Field service technician dispatch is an example of a CRM application
TRUE OR FALSE |
TRUE
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Business intelligence helps leverage data for better operations and transaction processing
TRUE OR FALSE |
FALSE
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