Business Driven Technology Flashcards
Examples of the power of business and technology
Amazon—Not a technology company; primary business focus is selling books – Netflix—Not a technology company; primary business focus is renting videos – Zappos—Not a technology company; primary business focus is selling shoes
Information technology (IT)
A field concerned with the use of technology in
managing and processing information
Management information systems (MIS)
A general name for the business function and
academic discipline covering the application of
people, technologies, and procedures –
collectively called information systems –to solve problems.
Data
Raw facts that describes the characteristics of an event
Information
—data converted into a
meaningful and useful context
Business intelligence
—applications and
technologies that are used to gather, provide
access to, and analyze data and information
to support decision-making efforts.
Common Departments Working Independently
Accounting- records, measures,and reports monetary transactions.
Sales- performs the function of selling goods and services.
Operation management- manage the process of converting or transforming resources into goods or services.
Marketing- supports sales by planing, pricing and promoting goods or services.
Finance- Tracks strategic financial issues including money, banking, credit, investments and assets.
Human resources-Maintain policies, plans, and procedures for the effectiveness of employees
Systems thinking
—A way of monitoring the entire
system by viewing multiple inputs being processed or
transformed to produce outputs while continuously
gathering feedback
Management Information Systems (MIS)
A business function, like accounting and human
resources, which moves information about
people, products, and processes across the
company to facilitate decision-making and
problem-solving
MIS
Deals with the planning for, the development, management and use of IT tools to help people perform all tasks related to information processing and management
Three keys resources in MIS
Information,People, information technology.
Data
raw facts that describe a
particular phenomenon such as the
current temperature, the price of movie
rental, or your age
Information
data that have a particular
meaning within a specific context
Business intelligence (BI)
collective information about… – Customers – Competitors – Business partners – Competitive environment
Information technology(IT)
computer-based tools that people use to
work with information
