Ch. 1 Other Vocab Flashcards
Use of software and algorithms to find and solve problems and improve business performance
Data Analytics
The benefit provided by information minus the cost of producing it
Value of Information
A set of activities and tasks that help accomplish a specific organizational goal
Business Processes
An agreement to exchange goods or services in exchange for cash
Transaction
Frequent exchanges such as surrendering cash for inventory and paying employees for labor
Give-get Exchange
Activities associated with selling goods and services in exchange for cash or a future promise of cash
Expenditure Cycle
Value chain activities that produce market, and deliver products to customers and provide postdelivery support
Primary Activities
A system that collects, records, stores, and processes data to produce information for decision makers
Accounting Information Systems
Linking all the primary and support activities in a business
Value Chain
Activities such as firm infrastructure and technology that enable main activities to be performed efficiently and effectively
Support Activities
An organization’s value chain as well as its vendors, distributors, and customers
Supply Chain
Activities associated with purchasing inventory for resale for cash or a promise to pay cash
Revenue Cycle
Data in a format that can be processed by a computer
Machine-Readable
Computer systems that simulate human intelligence processes such as learning, reasoning, and self-improvement
AI
Procedures and routines that carry out specific activities, achieve objectives, or solve problems
System
