6. Information management Flashcards
Why is information so important within business?
It helps businesses to narrow out possible decision that they have to make.
Why does managers use an information system?
Helps them to only look at relevant information. Helps them make informed decisions.
Name one benefit of good information management?
Help you provide value & lower cost product or service.
Describe the basic functioning of an information system:
- Describe information system first.
2. Look at the basic components.
Describe information system:
The people, procedures and other resources used to collect, transform, and disseminate information in an organisation.
What are the three basic components in an information system:
- Hardware resources
- Software resources
- Human resources
What are hardware resources?
Physical components of a computer system.
What are software resources?
Programs or detailed instructions that operate computers.
What are the human resources in context of information systems?
The people required for the operation of an information system.
Name 4 characteristics of useful information:
- Accurate
- Relevant
- Sufficient
- Timely
Name 5 costs associated with useful information:
- Obtaining
- Processing
- Storing
- Accessing the stored data.
- Transmitting data
What is the main goal of the operational information systems?
A system that tracks the day-to-day transactions of an organisation.
What is the main goal of the management information system?
Hardware and software that serves as the backbone of an organizations operations.
This information systems helps manager to analyze information and improve decision-making.
What are the four phases to develop an information system?
- Systems investigation
- Systems analysis
- Systems design
- Systems implementation, maintenance and security
Information systems
What does the system investigation phase entail?
- Determine the nature and scope of information.
2. Conduct a feasibility study.