5.9 Management Information Systems HL Flashcards
Data Analytics
the process of collecting and manipulating data to provide information that can be used by businesses to gain insights
Data base
a collection of data that has been organised
cybersecurity
defending computers/networks from cybercrime
cybercrime
illegal activity carried out by computer/internet
virtual reality
a computer-generated version of the world where people can interact with each other and things
the internet of things (Iot)
when sensors are attached to devices that are connected to the internet (network) data can be shared across this network
Big data
when large amounts of data are collected and analyzed to identify trends
data centers
a physical place that contains IT infrastructure (computers, servers) that ensures data is secure and accessible
Cloud computing
an online place where data can be stored
similar to a data center but no physical location
Artifical neural network
a system that uses computation, maths, and algorithms to model a human brain
machine learning system
Data mining
the process of collecting large amounts of data from different sources and then using this data to provide meaningful insights that can shape decision-making
datamining pros
- can reveal interesting insights into a business’ activities which optimize strategy
- gain an edge over competition
data mining cons
- costs and investments needed
- over-reliance on the data and the need for quality data
- privacy issues - where was the data collected?
customer loyalty programme
a strategy used by businesses where they reward customers for the continued buying of products from them rather than the competition
pros to customer loyalty programme
- incentives repeat purchases and revenue
- customers feel rewarded and valued
- the card itself is free advertising
cons of customer loyalty programme
- reduction in revenue of increase in costs
- admin costs of running the program
- customers may grow to expect it rather than appreciate it
FW taylor
scientific management - conduct experiments (collect data) in the workplace to maximize efficiency
man is motivated by money
Digital taylorism
- break down tasks into specific tasks
- use data and surveillance to monitor employee performance
- link pay to employee performance
pros to digital taylorism
- increased efficiency and employee productivity
- can reward strong performers and identify where weak performed need training
cons to digital taylorism
- employees might not like the surveillance
- dehumanizes the job - focus on efficiency over creativity
