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47 Cards in this Set
- Front
- Back
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Porters 5 forces - factors and IT strategy of each |
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Cost leadership operation strategies |
reduce price, reduce cost, decrease supplier bargaining power |
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Differentiation operation strategies |
build customer loyalty, build brand power, charge premium |
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strategic alignment |
when a company's priorities of strategic direction and their IT/IS strategy are closely aligned |
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market vs. marketplace |
market: demand of products/services marketplace: location where products/services are exchanged |
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e-commerce vs. e-business |
e-Commerce: buying, selling, marketing, distributing, products and services through Interent e-Business: using the Internet for internal operations and processes in a business |
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digitize marketing |
new ways of customer interactions |
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digital business |
new markets
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digitalize operations |
new ways of business operations
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e-Commerce 3 transaction types |
B2C, B2B, C2C |
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e-Commerce 3 company structures |
bricks and mortar, bricks and clicks, pure play |
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disintermediation |
removing intermediaries i.e. distributors and retailers --> supposed to make the product less expensive |
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reintermediation |
re-introducing intermediaries i.e. operators and online agents |
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4 revenue models |
pay for service: firm offers products and services for sale e.g. Amazon subscription: customers pay for right to access contents e.g. Netflix Advertising support: firm provides contents and services free for large audience and then sells access to its audience to interest advertisers e.g. YouTube and Facebook referral/affiliate: firm collects revenue from third-party based on traffic and send to the partner website e.g. Google shopping |
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Long tail |
culture and economy is increasingly shifting away from a focus on a relatively small number of mainstream products and markets at the head of the demand curve and toward a huge number of niches in the tail - cost of production and distribution is falling |
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Long tail supply side drivers and demand side drivers |
supply side drivers: decease in cost of inventory storage and distribution plus increase in size of target market --> marginal benefit of having one more product is increased demand side drivers: decrease in search post and intro of sampling tools and social media --> consumers have more info about niche products |
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Network effects |
user's value of using product A is affected by other users' decisions of using product A positive: user's value increases if a new user joins to the network negative: user's value decreases if a new user joins to the network |
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Two-sided network |
network that includes two distinct types of users |
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direct and indirect network effects |
direct: user's value of using Product A is affected by other user's decisions of using Product A indirect: user's value of using Product A is affected by other users' decisions of using Product B |
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what is a platform and why is it a two-sided network? |
platform is a delivery system for third-party complementary services to reach consumers. it is two-sided network because a platform, without complementary services, provides no value to the consumer. The value of a platform is extended by complementary services provided y third-party providers |
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penguin problem |
nobody moves unless everyone moves, so no one moves. Hence, one side is often subsidized |
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traditional advertising |
push advertising, pay for ad spot regardless of audience, hard to measure performance of ad campaign |
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online advertising |
pull advertising, pay by impressions or clicks, ad campaigns can be tracked and the performance can be measured |
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Google PPC advertising |
- runs as an auction model - adertiser chooses max amount they are willing to pay per click and the budget - advertising platform (Google) determines the rank based on advertiser's max bid and relevance of advert (Quality Score) - Google displays ad until budget is used up |
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Business Analytics |
Visualization, Analytics, Interpretation |
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2 categories of Web Analytics |
off-site: web measurement and analysis regardless of whether you own or maintain a website online: measures a visitor's behaviour once on your website |
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4 Web Analytics metrics |
Hits: request for a file from the web server, on average, each page includes 15 hits Page views: request for file who type is defined as a page, on average, visitor looks at 2.5 pages Visits/sessions: series of requests from same uniquely identified client with set timeout Click paths: sequence of hyperlinks one or more website visitors follow on given site |
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Data-Driven Decision Making |
occurs on 3 levels: operational, managerial, strategic process can be structured or unstructured |
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Data-Mining systems: 4 systems in 2 categories |
Unsupervised: clustering and association detection (Market Basket Analysis) Supervised(predictive models): Classification and Regression |
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Market-Basket Analysis calculations |
Support: probability that certain products are bought together Support count: number of times certain products have been bought together Confidence: conditional probability - given a person bought A, likelihood she will buy B Lift: ratio of confidence to the base probability of buying an item |
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Regression |
finding a function that models data with least error |
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Classification: |
dividing the items that make up the collection into categories or classes - goal is to accurately predict target class for each record in new data |
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Clustering |
identifying clusters embedded in data |
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Data vs. Information vs. Knowledge |
Data: facts and figures relay something specific, but which are not organized in any way Information: contextualized, categorized, calculated and condensed data Knowledge: understanding, experience, insight, intuition, and contextualized information |
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Database |
Tables or files + relationships among rows in tables + metadata = database Databases preserve data integrity, eliminate data redundancy, and limit data views |
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Database relationships and keys |
Foreign key: non-key column or field in one table that links to a primary key in another table e.g. student number in "email" and "office visit" tables Primary key: column that makes each row unique in a table e.g. "student number" can be primary of the "student" table |
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Metadata |
Data that can describe data - contains description of its contents Makes databases more useful and easier to use Helps prevent guessing about what is recorded in a database |
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Enterprise Resource Planning definition |
business management software with integrated information systems(applications) that a company can use to collect, store, manage and interpret data from many business activities |
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ERP important perspectives |
- Integrated information systems - software modules in the organization that share the same database - Data management systems - Business process management software |
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Advantages of ERP |
- reduce dependancy on decentralized legacy IT infrastructures - Potential to reduce costs - Improve firm's ability to respont to customers and market demands - best industry practices - can be used to update obsolete processes (BPR) |
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Limitations of ERP |
- organizations encouraged to implement standard version of software - Limited flexibility - configuration choices, difficult to change once configured - embedded "best practices" may not fit firm's own practices |
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Butt computing |
differs from classic client-server model by providing applications from a server that are executed and managed by a client's web browser, with no installed client version of an application required |
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Knowledge management |
Knowledge: Based on accumulated experiences and understanding - two kinds: explicit and tacit - information systems developed to support and enhance the organizational knowledge processes of knowledge creation, storage, retrieval, and application |
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Support |
probability that consequent and antecedent are bought together =Support count/total number of transactions |
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Support count |
number of times the antecedent and consequent are bought together |
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Confidence |
conditional probability - given that a person bought A, likelihood they will buy B P (B|A) = P(A&B)/P(A) = support(A&B)/support (A) |
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Lift |
ratio of confidence to base probability of buying an item = P(B|A)/P(B) = Confidence/P(Con) |
