Mis Test 1

Front 1

The confirmation or validation of an event or object.

Back 1

Fact

Front 2

Infinite quantities of facts are wisely available to anyone who can use a computer.

Back 2

Information age

Front 3

Raw facts that describe the characteristics of an event or object

Back 3

Data

Front 4

Data converted into a meaningful and useful context

Back 4

Information

Front 5

Data characteristic that stands for a value that changes or varies over time

Back 5

Variable

Front 6

Information collected from multiple sources such as suppliers, customers, competitors, partners, and industries that analyzes patterns, trends, and relationships for strategic decision making

Back 6

Business intelligence

Front 7

The skills, experience, and expertise, coupled with information and intelligence, that creates a person's intellectual resources

Back 7

Knowledge

Front 8

Individuals valued for their ability to interpret and analyze information

Back 8

Knowledge workers

Front 9

A collection of parts that link to achieve a common purpose

Back 9

System

Front 10

Material items or products that customers will buy to satisfy a want or need

Back 10

Goods

Front 11

Tasks performed by people that customers will buy to satisfy a want or need

Back 11

Services

Front 12

The process where a business takes raw materials and processes them or converts them into a finished product for its goods or services

Back 12

Production

Front 13

Rate at which goods and services are produced based upon total output given total inputs

Back 13

Productivity

Front 14

A way of monitoring the entire system by viewing multiple inputs being processed or transformed to produce outputs while continuously gathering feedback on each part

Back 14

Systems thinking

Front 15

Information that returns to its original transmitter and modifies the transmitter's actions

Back 15

Feedback

Front 16

A business function like accounting and HR which moves information about people, products, and processes across the company to facilitate decision making and problem solving

Back 16

MIS

Front 17

A leadership plan that achieves a specific set of goals or objectives

Back 17

Business strategy

Front 18

A feature of a product or service on which customers place a greater value than they do on similar offerings from competitors. Provide the same product or service either at a lower price or with additional value that can fetch premium prices

Back 18

Competitive advantage

Front 19

When a company can significantly increase its market share by being first with a new competitive advantage

Back 19

First mover advantage

Front 20

process of gathering information about the competitive environment, including competitors' plans, activities, and products, to improve a company's ability to succeed.

Back 20

Competitive intelligence

Front 21

Analyzes the competitive forces within the environment in which a company operates to assess the potential for profitability in an industry

Back 21

Porter's Five Forces Model

Front 22

Ability of buyers to affect the price they must pay for an item. Factors used to assess this include number of customers, their sensitivity to price, size of orders, differences between competitors, and availability of substitutes

Back 22

Buyer power

Front 23

Costs that make customers reluctant to switch to another product or service

Back 23

switching costs

Front 24

reward customers based on their spending

Back 24

loyalty programs

Front 25

Consists of all parties involved, directly or indirectly, in obtaining raw materials or a product

Back 25

Supply chain

Front 26

Suppliers ability to influence the prices they charge for supplies

Back 26

Supplier power

Front 27

high when there are many alternatives to a product or service and low when there are few alternatives from which to choose

Back 27

threat of substitute products or services

Front 28

A feature of a product or service that customers have come to expect and entering competitors must offer the same for survival

Back 28

entry barrier

Front 29

when a company develops unique differences in its products or services with the intent to influence demand

Back 29

Product differentiation

Front 30

A standardized set of activities that accomplish a specific task, such as processing a customer's order

Back 30

Business process

Front 31

Views a firm as a series of business processes that each add value to the product or service

Back 31

Value chain analysis

Front 32

Inbound logistics, operations, outbound logistics, marketing and sales, service

Back 32

Primary value activities

Front 33

Firm infrastructure, HR management, technology development, procurement

Back 33

Support value activities

Front 34

Arise in situations where established processes offer potential solutions

Back 34

Structured decision

Front 35

occur in situations in which a few established processes help to evaluate potential solutions, but not enough to lead to a definite recommended decision

Back 35

Semistructured decisions

Front 36

occur in situations in which no procedures or rules exist to guide decision makers toward the correct choice

Back 36

unstructured decisions

Front 37

Measurements that evaluate results to determine whether a project is meeting its goals

Back 37

Metrics

Front 38

Crucial steps companies perform to achieve their goals and objectives and implement their strategies

Back 38

Critical Success Factors

Front 39

Quantifiable metrics a company uses to evaluate progress toward critical success factors. More specific than CSF's

Back 39

key performance indicators

Front 40

Most successful solutions or problem solving methods that have been developed by a specific organization or industry

Back 40

Best practices

Front 41

Measure the performance of MIS itself, such as throughput, transaction speed, and system availability

Back 41

Efficiency MIS metrics

Front 42

Measure the impact MIS has on business processes and activities, including customer satisfaction and customer conversion rates

Back 42

Effectiveness MIS metrics

Front 43

Baseline values the system seeks to attain

Back 43

Benchmarks

Front 44

A process of continuously measuring system results, comparing those results to optimal system performance, and identifying steps and procedures to improve system performance

Back 44

Benchmarking

Front 45

Simplified representation or abstraction of reality

Back 45

Model

Front 46

Encompasses all the information contained within a single business process or unit of work, and its primary purpose is to support the performance of daily operational or structured decisions

Back 46

Transactional information

Front 47

The capture of transaction and event information using technology to process the info according to defined business rules, store the information, and update existing information to reflect the new info

Back 47

Online transaction processing

Front 48

Basic business system that serves the operational level and assists in making structured decisions

Back 48

Transaction processing system

Front 49

Encompasses all organizational information, and its primary purpose is to support the performance of managerial analysis or semistructured decisions

Back 49

Analytical info

Front 50

Manipulation of information to create business intelligence in support of strategic decision making

Back 50

Online analytical processing

Front 51

Model information using OLAP, which provides assistance in evaluating and choosing among different courses of action

Back 51

Decision support systems

Front 52

Checks the impact of a change in a variable or assumption on the model

Back 52

What if analysis

Front 53

A special case of what if analysis, is the study of the impact on other variables when one variable is changed repeatedly

Back 53

Sensitivity analysis

Front 54

Finds the inputs necessary to achieve a goal such as a desired level of output

Back 54

Goal seeking analysis

Front 55

An extension of goal seeking analysis, finds the optimum value for a target variable by repeatedly changing other variables, subject to specified constraints

Back 55

Optimization analysis

Front 56

Refers to the level of detail in the model or the decision making process

Back 56

Granularity

Front 57

Produces graphical displays of patterns and complex relationships in large amounts of data

Back 57

Visualization

Front 58

Tracks KPI's and CSF's by compiling information from multiple sources and tailoring it to meet user needs

Back 58

Digital dashboard

Front 59

Is the aggregation of data from simple roll ups to complex groupings of interrelated info

Back 59

Consolidation

Front 60

Enables users to view details, and details of details, of information

Back 60

Drill down

Front 61

Ability to look at info from different perspectives

Back 61

Slice and dice

Front 62

Simulates human thinking and behavior, such as the ability to reason and learn. Mimic human intelligence

Back 62

Artificial intelligence

Front 63

Category of AI that attempts to emulate the way the human brain works

Back 63

Neural networks

Front 64

Mathematical method of handling imprecise or subjective information

Back 64

Fuzzy logic

Front 65

A special purpose knowledge based information system that accomplishes specific tasks on behalf of its users

Back 65

Intelligent agent

Front 66

Software that will search several retailer websites and provide a comparison of each retailors offerings including price and availability

Back 66

Shopping bot

Front 67

A graphic description of a process, showing the sequence of process tasks, which is developed for a specific purpose and rom a selected view point

Back 67

Business process model

Front 68

Includes the tasks activities and responsibilities required to execute each step in a business process

Back 68

Workflow

Front 69

Process of computerizing manual tasks making them more efficient and effective and dramatically lowering operational costs

Back 69

Automation

Front 70

Implies that organizations that cannot adapt to the new demands placed on them for surviving in the information age are doomed to extinction

Back 70

Digital darwinism

Front 71

A new way of doing things that intiially does not meet the needs of existing customers

Back 71

Disruptive technology

Front 72

Produces an improved product customers are eager to buy, such as a faster car or larger hard drive

Back 72

Sustaining technology

Front 73

Massive network that connects computers all over the world and allows them to communicate with one another

Back 73

Internet

Front 74

Provides access to Internet information through documents including texts, graphics, audio, and video files that use a special formatting language

Back 74

WWW

Front 75

Links documents, allowing users to move from one to another simply by clicking on a hot spot or link

Back 75

Hypertext markup language

Front 76

Allow users to access the WWW

Back 76

Web browsers

Front 77

The internet protocol web browsers use to request and display web pages using universal resource locators

Back 77

Hypertext transport protocol

Front 78

Address of a file or resource on the web such as www.apple.com

Back 78

universal resource locator

Front 79

Service that allows the owner of a domain name to maintain a simple website and provide email capacity

Back 79

domain name hosting

Front 80

a program that runs within another application such as a website

Back 80

applet