Ch 1 Flashcards
memorize
Information system
IS is a set of interrelated components that collect, ,manipulate, store and disseminate data and information, provide a corrective reaction to meet an objective.
Components of IS
input, processing, feedback and output
Characteristics of valuable info
Accessible, accurate, complete, economical, flexible and reliable
Accessible
Information should be accessible by authorized users so they can obtain it in the right format at the right to meet their needs
Accurate
Information must be error free. Sometimes inaccurate information is generated because inaccurate information is fed into the transformation process.
Complete
Information contains all the important facts.
Economical
Information should also be economical to produce. Decision makers must balance the value of information with the cost of producing it.
Flexible
Flexible information can be used for a variety of purposes.
Reliable
Reliable information can be trusted by users. In many cases, the reliability of the information depends on the reliability of the data collection method.
CBIS
is a single set of hardware, software, telecommunications, databases, people and procedures that are configured to collect, manipulate, store and process data into information.
Components of CBIS
hardware, software, telecommunications, databases, people and procedures.
data
raw facts
information
is a collection of data organized and one of an organization’s/people most valuable resources to make the meaningful and useful information
Knowledge
is awareness and understanding of a set of information
Types of CBIS
TPS, MIS, DSS, ERP
TPS
these systems manage and record daily routine transaction efficiently. Examples include payroll system, order processing system and point of sales system
MIS
provides managers with reports and tools to help in decision-making. Examples include sales management system that provide daily, weekly and monthly reports on sales performance helping management track and compare sales figures.
DSS
are designed to support complex decision-making and problem solving. Examples financial forecasting tool that helps business managers predict future revenues, costs and profitability by analyzing historical data and various economic indicators.
ERP
is a set of integrated programs that manages the vital business operation of an entire multisite, global organization. Example: Oracle ERP integrate finance, HR, supply chain and other business functions allowing for real-time data sharing across the entire organization.
Technology Acceptance Model(TAM)
is model that specifies the factors that can lead better attitude about the information system along with higher acceptance and usage of the system in an organization.
general strategies for competitive advantage
cost leadership, differentiation, niche strategy, altering industry structures, creating new products and services, improving existing product lines and services, other strategies
five-force model that can lead to attainment of competitive advantage
rivalry among existing competitors,
threats of new entrants,
threats of substitute products and services,
bargaining power of suppliers,
bargaining power of buyer,
value chain
a series of activities of that include inbound logistic, warehouse, storage, production, finished product storage, outbound logistics, marketing and sales and customer service. ‘
types of data
alphanumeric, image, audio, video
alphanumeric
numbers, letters and other characters
image data
graphic images and pictures
audio data
sound, noise or tones
video data
moving images or pictures
Customer Relationship Management(CRM)
-manage all aspects of customer encounters including marketing and advertising, sales, customer services and retain loyal customers.
-can get customer feedback to help design new products and services.
Supply Chain Management(SCM)
is a management that determines:
-what supplies are required for value chain.
-what quantities are needed to meet customer demand.
-how supplies should be processed into finished goods and services and
-how shipment of supplies and products to customers should be scheduled, monitored and controlled.
