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47 Cards in this Set
- Front
- Back
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How has Info Systems improved decision making? |
Info systems have made it possible for managers to use the real-time data from the marketplace when making decisions. |
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What are information systems? |
A set of interrelated components that collect (or retrieve), process, store, and distribute information to support decision making, coordinating, and control in an org. |
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What is business intelligence? |
A contemporary term for data and software tools for organizing, analyzing, and providing access to data to help managers and other enterprise users make more informed decisions. |
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What is market niche? |
It is the use of Information Systems to enable a specific Market Focus and serve this narrow target market better than competitors. |
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What are the strategies? |
1. Basic Stategy (IT Strategy) 2. Low-Cost Leadership 3. Product Differentiation 4. Focus on Market Niche |
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What is product differentiation? |
The use of Information Systems to provide new products and services or greatly change the customer convenience in using your existing products or services. Example: Google's new unique services like Google Pay. |
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What is the basic (IT) strategy? |
It ensures that the technology serves the business and not the other way around. Steps:1. Identify your business strategy and goals. 2. Break this strategic goals down into concrete activities and processes. 3. Identify how you will measure progress toward the business goals.4. Ask yourself, "How can information technology help me achieve progress towards our business goals and how will it improve them?" 5. Measure the actual performance. |
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What is low cost leadership? |
It is the use of Information Systems to achieve the lowest operational cost and the lowest prices. |
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What are knowledge management systems? |
Systems that enable organizations to manage processes better for capturing and applying knowledge and expertise. They collect all relevant knowledge and experience in the firm and make it available wherever and whenever it is needed to improve business processes and management decisions. |
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What is Immanuel Kant's categorical imperative? |
If any action is not right for everyone to take, it is not right for anyone. |
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What is utilitarianism? |
Take action that are achieves the higher or greater value. |
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What is ERP? |
They are used to integrate business processes in manufacturing and production, Finance and Accounting, sales and marketing, and human resources into a single software system. |
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What is B2B? |
Business to business |
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What is B2C? |
Business to customers |
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What happens to a traditional business that did not keep up with the new software? |
They do not survive in their industry. |
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What is a field? |
A grouping of characters into a word, a group of words, or a complete number. |
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What is a record? |
A group of related fields, such as a student's information. |
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What is a file? |
A group of records of the same type. |
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What is the primary key? |
A table in a relational database has 1 field designated as the primary. |
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What is the foreign key? |
A look-up field to find data about the supplier of a specific part. |
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What is a query? |
A request for data of a database |
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What is a supply chain management, what are its links, and how does it work? |
They are systems that help manage relationships with their suppliers. They automate the flow of information among members of the supply chain so they can use it to make better decisions about when and how much to purchase, produce, or ship. The links are: Tier 3, Tier 2, & Tier 1 suppliers (upstream) Organization, Distributor, Retailer, Customer (downstream) |
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What are the different types of stocks used in the supply chain management (SCM) system? |
1. Raw materials stock: It is maintained at the factory to meet production requirements. 2. Packing material stock 3. Semi finished goods stock: They are maintained at shop to meet the requirements of the next process. 4. Finished goods stock: It is maintained in the warehouse to meet the customer's demand. Safety stock: A buffer for the lack of flexibility in the supply chain. |
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What is the bullwhip effect? |
When information about the demand for a product gets distorted as it passes from one entity to the next across the supply chain. |
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What is customer relationship management and how does it work? |
They are systems that integrate and automate customer-facing processes in sales, marketing, and customer service, providing an enterprise-wide view of customers. |
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What is a customer lifecycle? |
The relationship between the revenue produced by a specific customer, the expenses incurred in acquiring and servicing that customer, and the expected life of the relationship between the customer and the company. |
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What is business intelligence? |
The infrastructure for warehousing, integrating, reporting, and analyzing data that come from the business environment. (Ch 9 definition) |
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What are the different types of decision-making? |
1. Unstructured decisions: The decision maker must provide judgment, evaluation, and insight to solve the problem. This is novel and not routine and has no agreed-on procedure for making them. They are made by the senior management
2. Structured Decisions: They are repetitive and routine, and involve a definite procedure for handling them so that they do not have to be treated as new every time. They are made by the operational management.
3. Semistructured decisions: Only part of the problem has a clear-cut answer provided by an acceptable procedure. They are made by the middle management. |
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What is a high-velocity automated decision process? |
The intelligence, design, choice, and implementation parts of the decision making process are captured by computer algorithms that precisely to find the steps to be followed to produce a decision. |
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What are the dimensions of quality in decision-making? |
1. Accuracy: The decision reflects reality. 2. Comprehensiveness: The decision reflects a full consideration of the facts and circumstances. 3. Speed: The decision making is efficient with respect to time and other resources including the time and resource of affected parties such as customers. 4. Fairness: The decision Faithfully reflects the concerns an interest of affected parties. 5. Coherence: The decision reflects a rational process that can be explained to others and made understandable. 6. Due Process: The decision is a result of a known process and can be appealed by a higher authority. |
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What are the different types of business intelligence and analytic tools? |
1. Production reports: They are predefined reports based on industry-specific requirements. 2. Parameterized reports: The user enters several parameters to filter data and isolate impacts of parameters. 3. Dashboards/scorecards: They are visual tools for representing performance data users define. 4. Ad hoc query /search / rep. creation: It allows users to create their own reports based on queries and searches. 5. Drill down: The ability to move from a high-level summary to a more detailed view. 6. Forecasts / scenarios / models: Capabilities for linear forecasting, what if scenario analysis, and data analysis, using standard statistical tools. |
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What is an expert system? |
An intelligent technique that captures human expertise in a limited domain of knowledge as a set of rules in a software system that can be used by others in the organization. |
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What is a neural network? |
A network that finds patterns and relationships in very large amounts of data that would be too complicated and difficult for a human being to analyze by using machine learning algorithms and computational models that emulate the processing patterns of the biological human brain. |
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What is a virtual reality system? |
A system that uses interactive graphics software to create computer-generated simulations that are so close to reality that users almost believe that they are participating in a real-world situation. |
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What are the steps in developing a Information System? |
1. Define and understand the problem 2. Develop alternative Solutions 3. Evaluate and choose the solution 4. Implement the solution |
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What is a feasibility study? |
A study that determines whether each proposed solution is feasible or achievable from financial, technological, and organizational standpoints. It establishes whether each alternative solution is a good investment, whether the technology needed for the system is available and can be handled by the firm's information system staff. |
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What are system design and testing? |
System design: It shows how the chosen solution should be realized. It is the model or blueprint for an information system solution and consists of all the specifications that will deliver the functions identified during the systems analysis. Testing: The system is thoroughly tested to ensure that it produces the right results. Types of testing: 1. System testing: It tests the performance of info system as a whole. 2. Unit testing: It tests each program in the system separately. 3. Acceptance testing: It make sure the system is ready to be used in a production setting. 4. Test plan: All the preparations for the series of tests. |
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What are the parallel and direct coat over conversion strategies? |
Parallel: Stategy where both the old system and its potential replacement are run together for a time until everyone is assured that the new system functions correctly. Direct Cutover: This strategy replaces the old system entirely with the new system on an appointed day, carrying the risk that there is no system to fall back on if problems arise. |
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What are the methods of building Information Systems? |
1. Systems Development Life Cycle: A phased approach to building a system, dividing systems into a series of formal stages. (Oldest method) 2. Protyping: it consists of building an experimental system rapidly and inexpensively for end users to evaluate. 3. End-User Development: it allows end users, with little or no formal assistance from technical specialists, to create simple Information Systems, reducing time and steps required to produce a finished application. 4. App Software Package 5. Outsourcing 6. Mobile App Development |
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What are the data flow symbols? |
Rounded boxes: They represent processes, which portray transformation of data. Squared boxes: They represent an external entity, originator or receiver of information located outside the boundaries of the system. Open rectangles: They represent data stores, which are either manual or automated inventories of data. Arrows: They represent data flows, which show the movement between processes, external entities, and data stores. |
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What is project management? |
The application of knowledge, skills, tools, and techniques to achieve specific targets within the specified budget and time constraints. |
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What are the tangible and intangible benefits of an information system? |
Tangible: Benefits that can be quantified and assigned monetary value. Intangible: Benefits that cannot be quantified or have monetary value such as customer service and decision-making. |
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What is the PMT function? |
The financial function that calculates the payment schedule required to pay loan. |
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What is the AND function? |
A logical function that returns the value TRUE if all the logical functions or true, and returns FALSE if any or all the logical conditions are false. |
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What is the IF function? |
A function that returns a different value depending on whether the given condition is true or false. |
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What is the OR function? |
A logical function that returns a TRUE value if any of the logical conditions are true, and returns a FALSE value if all the logical conditions are false. |
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What happens to traditional business that did not keep up with the new software? |
They did not survive in their industry. |
