Ch. 1 The Information Age Flashcards
the planning for, development, management, and use of information technology tools to help people perform all tasks related to information processing and management.
(MIS) Management Information Systems
raw facts that describe a particular phenomenon such as the current temperature , the price of a movie rental, or your age
data
data that have a particular meaning within a specific context. The current temperature becomes information if you’re deciding what to wear, the data describing the price of a movie rental are not pertinent information.
information
collective information- about your customers, your competitors, your business partners, your competitive environment, and your own internal operations-that gives you the ability to make effective, important, and often strategic decisions.
(BI) Business Intelligence
If the information coming into your decision making process is in bad form, you’ll more likely make a poor decision.
(GIGO) garbage in, garbage out
flowing direction of information that describes the current state of the organization based on its daily transactions.
upward
the extent of detail within the information
information granularity
flowing direction of information such as strategies, goals, and directives that originate at a higher level are passed to lower levels.
downward
flowing direction of information between functional business units and work teams
horizontal
information communicated from and to customers, suppliers, distributors, and other partners for the purpose of doing business.
outward/inward
specific operational aspects of an organization
internal information
the environment surrounding the organization
external information
quantifiably describes something that is known
objective information
attempts to describe something that is unknown
subjective information
a worker that knows when and how to apply technology
technology-literate knowledge worker
the principles and standards that guide our behavior toward other people.
ethics
any computer-based tool that people use to work with information and support the information-processing needs of an organization.
(IT) Information Technology
the physical devices that make up a computer
hardware
the set of instructions that your hardware executes to carry out a specific task for you
software
a tool you use to enter information and commands
input device
a tool you use to see, hear, or otherwise recognize the results of your information-processing requests.
output device
a tool you use to store information for use at a later time
storage device
the hardware that interprets and executes the system and application software instructions and coordinates the operation of all the hardware.
(CPU) Central Processing Unit
temporary holding area for information you’re working well as the system and application instructions that the CPU currently needs.
(RAM) random access memory
a tool you use to send information to and receive it from another person or computer network
telecommunications device
the software that enables you to solve specific problems and perform specific tasks
application software
handles tasks specific to technology management and coordinates the interaction of all technology devices.
system software
goods that don’t exist in the real world
virtual goods
engines that make recommendations to you based on your dislikes, likes, and past purchases.
recommendation engines
providing a product or service in a way that customers value more than what your competition is able to do.
competitive advantage
a significant impact on gaining market share by being the first to market with a competitive advantage
first-mover advantage
costs that make customers reluctant to switch to another product or service supplier.
switching costs
offering the same or better quality product or service at a price that is less than what any of the competition is able to do.
overall cost leadership
offering a product or service that is perceived as being “unique” in the marketplace
differentiation
an approach in which you allocate in terms of percentages how you will spend your IT dollars on various types of business strategies
(RGT) Run Grow Transform Framework
