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19 Cards in this Set
- Front
- Back
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What is data? |
Facts or figures in a raw unprocessed format |
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What is information? |
Data that has been processed in for a decision makerp |
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What are the characteristics of good information? (ACCURATE) |
Accurate Complete Cost effective Understandable Relevant Accessible Timely Easy to use |
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What is it called when data is transferred into information? |
Data processing |
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Name different types of internal information |
Accounting records Personal and payroll information Timesheets Production information |
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Name different types of external information |
Competitor information Customer information Supplier information |
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What types of information would production information provide? |
Machine breakdown times Number of rejected units |
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What type of information would a payroll system provide? |
Number of employees Hours worked Output achieved Wages earned Tax deducted |
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What type of information could the government provide? |
Industry averages Taxation policies Inflation rates Demographic statistics Forecast for economic growth |
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What type of information could banks provide? |
Information on potential customers Information on national markets |
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What is IT |
Information technology - equipment concerned with the capture,storage,transmission or presentation of information |
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What is IS |
Information Systems - the assistance of information to support the running of the organisation |
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What are the 2 key reasons for information systems |
1) to help with the processing and storage of transactions 2) supporting managerial decisions including planning, performance management and control |
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What are the 5 reasons organisations require information? |
1 recording transactions 2 make decisions 3 planning 4 performance management 5 control |
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What are the initial costs with an IS system? |
Cost to design and develop if bespoke / purchase price of software Costs of testing and implementing Training costs |
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What are the running costs of an IS? |
Cost of labour to run Cost of materials and repairs Cost of service support such as helplines |
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What is the most expensive indirect cost of producing information? |
Labour costs |
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What costs are incurred when training staff? |
An external trainers cost The staff being paid whilst trained Paying additional staff to do the chargeable work not being done Training venue Lost productivity Slower productivity |
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What are indirect costs of providing information |
Labour Loss of staff morale Delays caused Dislocation caused by system change Upsetting customers due to system change Incompatible with other systems Unexpected software costs such as tailoring Cost of failure and faults |
