9 Flashcards
analytics
The science of fact-based decision making.
artificial intelligence (AI)
Simulates human intelligence such as the ability to reason and learn.
augmented reality
The viewing of the physical world with computer-generated layers of information added to it.
consolidation
Involves the aggregation of information and features simple roll-ups to complex groupings of interrelated information.
decision support system (DSS)
Models information to support managers and business professionals during the decision-making process.
digital dashboard
Integrates information from multiple components and tailors the information to individual preferences.
drill-down
Enables users to get details, and details of details, of information.
ebusiness
The conducting of business on the Internet, not only buying and selling, but also serving customers and collaborating with business partners.
executive information system (EIS)
A specialized DSS that supports senior level executives within the organization.
expert system
Computerized advisory programs that imitate the reasoning processes of experts in solving difficult problems.
fuzzy logic
A mathematical method of handling imprecise or subjective information.
genetic algorithm
An artificial intelligence system that mimics the evolutionary, survival-of-the-fittest process to generate increasingly better solutions to a problem.
goal-seeking analysis
Finds the inputs necessary to achieve a goal such as a desired level of output.
granularity
Refers to the level of detail in the model or the decision-making process.
intelligent agent
A special-purpose knowledge-based information system that accomplishes specific tasks on behalf of its users.
intelligent system
Various commercial applications of artificial intelligence.
managerial level
Employees are continuously evaluating company operations to hone the firm’s abilities to identify, adapt to, and leverage change.
mutation
The process within a genetic algorithm of randomly trying combinations and evaluating the success (or failure) of the outcome.
model
A simplified representation or abstraction of reality.
neural network (artificial neural network)
A category of AI that attempts to emulate the way the human brain works.
online analytical processing (OLAP)
The manipulation of information to create business intelligence in support of strategic decision making.
online transaction processing (OLTP)
The capturing of transaction and event information using technology to (1) process the information according to defined business rules, (2) store the information, and (3) update existing information to reflect the new information.
operational level
Employees develop, control, and maintain core business activities required to run the day-to-day operations.
optimization analysis
An extension of goal-seeking analysis, finds the optimum value for a target variable by repeatedly changing other variables, subject to specified constraints.
semistructured decisions
Occurs in situations in which a few established processes help to evaluate potential solutions, but not enough to lead to a definite recommended decision.
sensitivity analysis
The study of the impact that changes in one (or more) parts of the model have on other parts of the model.
shopping bot
Software that will search several retailer websites and provide a comparison of each retailer’s offerings including price and availability.
slice-and-dice
The ability to look at information from different perspectives.
source document
Describes the basic transaction data such as its date, purpose, and amount and includes cash receipts, canceled checks, invoices, customer refunds, employee time sheet, etc.
strategic level
Managers develop overall business strategies, goals, and objectives as part of the company’s strategic plan.
structured decisions
Involves situations where established processes offer potential solutions.
transaction processing system (TPS)
The basic business system that serves the operational level (analysts) in an organization.
unstructured decisions
Occurs in situations in which no procedures or rules exist to guide decision makers toward the correct choice.
virtual reality
A computer-simulated environment that can be a simulation of the real world or an imaginary world.
what-if analysis
Checks the impact of a change in an assumption on the proposed solution.
