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110 Cards in this Set
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- Back
- 3rd side (hint)
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Application software
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Software that enables you to solve problems and perform specific tasks, e.g., MS Word, inventory, payroll |
Chapter 1 pg. 14
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Business intelligence (BI)
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collective information - about your customers, your competitors, your business partners, your competitive environment, and your own internal operations - that gives you the ability to make effective, important, and often strategic decisions. |
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Buyer power
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in the Five Forces Model is high when buyers have many choices from whom to buy, and low when there are few choices. Companies try to reduce buyer power by making themselves more attractive. |
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Central processing unit (CPU)
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The hardware that interprets and executes the system and application software instructions and coordinates the operation of all the hardware. The brains of your computer |
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Competitive advantage
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is providing a product or service in a way that customers value more than what your competition is able to do. |
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Data
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raw facts that describe a particular phenomenon such as the current temperature, the price of a movie rental, or your age. Data is plural, the singular is datum. |
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Differentiation
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Offering a product or service that is perceived as being unique in the marketplace. A Hummer is an excellent example. |
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Entry barrier
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A product or service feature that customers have come to expect from organizations in a particular industry and that must be offered by an entering organization to compete and survive. |
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Ethics
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The principles and standards that guide our behavior toward other people. |
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External information
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describes the environment surrounding the organization |
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First-mover advantage
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A significant impact on gaining market share by being the first to market with a competitive advantage. Competitive advantage is only temporary and your organization must constantly innovate to find new competitive advantages. |
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Five Forces Model
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Helps business people understand the relative attractiveness of an industry and the industry's competitive pressures in terms of the following five forces: 1) Buyer power, 2) Supplier power, 3) Threat of substitute products or services, 4) Threat of new entrants, 5) Rivalry among existing competitors |
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Focus
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A strategy defined as focusing on offering products and services (1) to a particular market segment or buyer group, (2) within a segment of a product line, and /or (3) to a specific geographic market. Focus is the opposite of attempting to be "all things to all people". |
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Garbage-in garbage-out (GIGO)
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If the information coming into your decision-making process is in bad form (i.e., garbage-in), you'll more than likely make a poor decision (i.e., garbage-out) |
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Hardware
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the physical devices that make up a computer |
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Information
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is data that have a particular meaning within a specific context. The current temperature becomes information if you're deciding what to wear; in deciding what to wear, the data describing the price of a movie rental are not pertinent information (and therefore only data in that context). |
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Information granularity
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refers to the extent of detail within the information. At lower organizational levels, information exhibits fine granularity because people need to work with information in great detail. At the upper organizational levels, information becomes coarser because it is summarized or aggregated in some way. Strategic managers need sales by year, as opposed to knowing the detail of every single transaction. |
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Information-literate knowledge worker
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-can define what information is needed -knows how and where to obtain information -understands the information once it is received -Can act appropriately based on the information to help the organization achieve the greatest advantage |
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Information technology (IT)
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any computer-based tool that people use to work with information and support the information and information-processing needs of an organization. IT includes a cell phone, table PC, home computer, large networks, and the internet. |
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Input device
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A tool you use to enter information and commands, e.g., mouse, barcode scanner |
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Internal information
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describes specific operational aspects of an organization |
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Loyalty program
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Reward customers based on the amount of business they do with a particular orgnaization |
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Management information systems (MIS)
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Deals with the planning for, development, management, and use of information technology tools to help people perform all tasks related to information processing and management. |
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Objective information
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quantifiably describes something that is known |
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Output device
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A tool you use to see, hear, or otherwise recognize the results of your information-processing requests, e.g., monitor, printer, speakers. |
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Overall cost leadership
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Is defined by Porter as offering the same or better quality product or service at a price that is less than what any of the competition is able to do. |
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RAM (random access memory)
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The temporary holding area for the information you are working with as well as the system and application software instructions that the CPU currently needs. The brains of your computer |
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Rivalry among existing competitors
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The Five Forces Model is high when competition is fierce in a market, and low when competition is more complacent. Competition is more intense in some industries than in others, although the overall trend is toward increased competition in just about every industry: rarely can you identify an industry that exhibits complacent competition (e.g., mortician and burial services) |
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Run-grow-transform (RGT) framework
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An approach in which you allocate in terms of percentages how you will spend your IT dollars on various types of business strategies. |
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Software
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set of instructions that your hardware executes to carry out a specific task for you |
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Storage device
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A tool you use to store information for use at a later time e.g., DVD, Flash memory |
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Subjective information
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attempts to describe something that is unknown |
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Supplier power
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In the Five Forces Model is high when buyers have few choices from when to buy; and low when their choices are many. Supplier power is the opposite of buyer power; As a supplier organization in an industry, you want buyer power to be low and your supplier power to be high. |
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Switching cost
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Are costs that make customers reluctant to switch to another product or service supplier. |
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System software
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Handles tasks specific to technology management and coordinates the interaction of all technology devices, e.g., technology management, coordination |
Chapter 1 pg. 14
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Technology-literate knowledge worker
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Knows how and when to apply technology; The "how" aspect includes knowing which technology to purchase, how to exploit the many benefits of application software, and what technology infrastructure is required to get businesses connected to each other. |
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Telecommunications device
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a tool you use to send information to and receive it from another person or computer in a network, e.g., modem, satellite |
Chapter 1 pg. 14
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Threat of substitute products or services
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In the Five Forces Model is high when there are many alternatives to a product or service, and low when there are few alternatives from which to choose. your organization would like to be a supplier organization in a market in which there are few substitutes for the products and services you offer.
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Operating System Software
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e.g., Windows, Mac OS, Linux
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Utility Software
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e.g., Anti-virus software, disk optimization software
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When you receive information and need to make a decision based on it
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ask yourself questions that start with who, what, when why, where, and how. Answers to those questions will help you create business intelligence and make better decisions.
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Run
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Optimize the execution of activities and processes already in place. Seek organizational growth through offering products and services faster and cheaper than the competition
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Grow
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Increase market reach, product and service offerings, expand market share, and so on. Seek organizational growth by taking market share from the competition (i.e., get a bigger piece of the pie).
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Transform
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Innovate business processes and/or products and services in a completely new way, move into seemingly different markets, and so on. Seek organizational growth through new and different means.
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Upward
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When a sale occurs, for example, that information originates at the lowest level of the organization and is passed upward through the various levels.
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Downward
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Strategies, goals, and directives that originate at a higher level, are passed to lower levels in downward information flows.
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Horizontal |
Information flows horizontally between functional business units and work teams. The goal is to eliminate the old dilemma of "the right hand not knowing what the left hand is doing".
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Outward/Inward
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Information is communicated from and to customers, suppliers, distributors, and other partners for the purpose of ding business. Outward/inward flow can yield a competitive advantage.
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Back office system
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are used to fulfill and support customer orders and they also send all their customer information to the database
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Customer relationship management (CRM) system
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uses information about the customers to gain insights into their needs, wants, and behaviors in order to serve them better
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Distribution chain
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the path a product or service follows from the originator of the product or service to the end consumer
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Enterprise resource planning (ERP) system
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A collection of integrated software for business management, accounting, finance, human resources management, project management, inventory management, service and maintenance, transportation, e-business, supply chain management, customer relationship management, and e-collaboration.
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Front office system
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the primary interface to customers and sales channels; they send all the customer information they collect to the database |
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Information partnership
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two or more companies cooperating by integrating their IT systems, thereby providing customers with the best of what each can offer |
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Inter-modal transportation
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the use of multiple channels of transportation - railway, truck, boat, and so on - to move products from origin to destination
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Just-in-time
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a method for producing or delivering a product or service just at the time the customer wants it
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Legacy information system (LIS)
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represents a massive, long-term business investment in a software system with a single focus; such systems are often brittle, slow, and non-extensible
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Massively multiplayer online role-playing game (MMORPG)
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games in which thousands or perhaps millions of people play and interact in the robust virtual world. World of Warcraft and Second Life are two well-known examples. |
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Multi-channel service delivery
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a term that describes a company's offering multiple ways in which customers can interact with it |
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Sales force automation (SFA) systems
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automatically track all the steps in the sales process
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Social locationing (location-based services)
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is the use of a mobile device and its location (as determined by GPS) to check into locations such a businesses and entertainment venues, find friends and their locations, and receive rewards and take advantage of "specials" based on location
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Social media
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is a collection of Web-based and mobile technologies that create true interactivity among users, most usually allowing users to be both creators and consumers of content
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Social networking site
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is a site on which you post information about yourself, create a network of friends, read about other people, share content such as photos and videos, and communicate with people
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Software-as-a-service (SaaS)
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is a delivery model for software in which you pay for software on a pay-per-use basis instead of buying the software outright. |
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Supply chain management (SCM)
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tracks inventory and information among business proc3esses and across companies
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Supply chain management (SCM) system
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is an IT system that supports supply chain management activities by automating the tracking of inventory and information among business processes and across companies
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Twitter jockey
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(a person who focuses on the use of Twitter to communicate with customers, sponsors, business partners, and the like) to send company tweets about specials and new products/services, and so on.
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Web 2.0 |
is the so-called second generation of the Web and focuses on online collaboration, users as both creators and modifiers of content, dynamic and customized information feeds, and many other engaging Web-based services
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Analytics
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the science of fact-based decision making, focuses on the integrated use of technology tools and statistical techniques to create real-time, high-quality , fact-based business intelligence in support of decision making. |
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Application generation subsystem |
of a DBMS contains facilities to help you develop transaction-intensive applications. |
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Backup
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a copy of the information stored on a computer
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Agent-based technology (software agent) |
or a software agent, is a small piece of software that acts on your behalf (or on the behalf of another piece of software) performing tasks assigned to it
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Chief information officer (CIO)
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Responsible of overseeing every aspect of an organization's information resource
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Chief privacy officer (CPO)
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Responsible of for ensuring that information is used in an ethical way and that only the right people have access to certain types of information such as financial records, payroll, and health care
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Chief security officer (CSO)
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responsible for the technical aspects of ensuring the security of information such as the development and use of firewalls, intranets, extranets, and anti-virus software
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Chief technology officer (CTO)
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responsible of for overseeing both the underlying IT infrastructure within an organization and the user-facing technologies (such as CRM systems)
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Data administration
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is the function in an organization that plans for, oversees the development of, and monitors the information resource
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Data administration subsystem
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of a DBMS helps you manage the overall database environment by providing facilities for backup and recovery, security management, query optimization, concurrency control, and change management |
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Database
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a collection of information that you organize and access according to the logical structure of that information
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Database administration
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is the function in an organization that is responsible for the more technical and operational aspects of managing the information contained in organizational information repositories (database, data warehouses, and data marts)
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Database management system (DBMS)
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helps you to specify the logical organization for a database and access and use the information within a database. A DBMS contains five important software components
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Data definition subsystem
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a component of a DBMS helps you create and maintain the data dictionary and define the structure of the files in a database |
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Data dictionary
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contains the logical structure for the information in a database
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Data manipulation subsystem
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of a DBMS helps you to add, change, and delete information in a database and query it for valuable information
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Data mart
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is a subset of a data warehouse in which only a focused portion of the data warehouse information is kept
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Data-mining tools
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are the software tools you use to query information in a data warehouse |
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Data warehouse
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is a logical collection of information - gathered from many different operational databases - used to create business intelligence that supports business analysis activities and decision-making tasks
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DBMS Engine
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accepts logical requests from the various other DBMS subsystems, converts them into their physical equivalent, and actually accesses the database and data dictionary as they exist on a storage device
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Digital dashboard
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displays key information gathered from several sources on a computer screen in a format tailored to the needs and wants of an individual knowledge worker |
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Extraction, transformation, and loading (ETL)
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is a three step process that includes Extracting the needed data from its sources, Transforming the data into a standardized format, and loading the transformed data into a data warehouse
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Foreign key
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is a primary key of one file that appears in another file
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Integrity constraints
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rules that help ensure the quality of the information |
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Key performance indicators (KPIs)
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the most essential and important quantifiable measures used in analytics initiatives to monitor success of a business activity |
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Logical view
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focuses on how you as a knowledge worker need to arrange and access information to meet your particular business needs
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Multidimensional analysis (MDA) tools
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are slice-and-dice techniques that allow you to view multidimensional information from different perspectives |
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Online analytical processing (OLAP)
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is the manipulation of information to support decision making
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Online transaction processing (OLTP)
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is the gathering of input information, processing that information, and updating existing information to reflect the gathered and processed information
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Operational database
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Databases that support OLTP are most often referred to as this
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Physical view
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of information deals with how information is physically arranged, stored, and accessed on some type of storage device such as a hard disk
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Primary key
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is a field (or group of fields in some cases) that uniquely describes each record
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Query-and-reporting tools
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are similar to QBE tools, SQL, and report generators in the typical database environment |
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Query-by-example (QBE) tools
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help you graphically design the answer to a question
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Recovery
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is the process of reinstalling the backup information in the event the information was lost
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Relation
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often describes each two-dimensional table or file in the relational model
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Relational database
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it uses a series of logically related two-dimensional tables or files to store information in the form of a database |
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Report generators
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help you quickly define formats of reports and what information you want to see in a report |
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Structured query language (SQL)
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is a standardized fourth-generation query language found in most DBMSs
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View
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allows you to see the contents of a database file, make whatever changes you want, perform simple sorting, and query to find the location of specific information
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artificial intelligence (AI) |
the science of making machines imitate human thinking and behavior |
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Autonomous agent
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software agent that can adapt and alter the manner in which it attempts to achieve its assigned task |
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