Ch.14 - Strategies for information

Question 1

What are benefits of information system?

Answer 1

• Increased revenue – achieve competitive advantage
• Cost reduction – improve profitability
• Enhanced service – improve reliability and CRM systems
• Improved decision making – aid forecasting and scenario planning

Question 2

What are key traits of big data?

Answer 2

• volume
• velocity
• variety
• veracity (reliability)

Question 3

What is digital asset and how it is protected?

Answer 3

• any text or data file that is formatted into a binary source which includes the right to use it
• encoding, encryption and watermarks are used to protect digital assets

Question 4

What is knowledge management?

Answer 4

– range of strategies and tools that capture all the knowledge that is valuable to the organisation.

 - Explicit knowledge – knowledge that company knows it has
 - Tacit knowledge – personal knowledge and expertise held by people within the organisation

Question 5

What is cyber security and what are the cyber threats?

Answer 5

– protection of systems, networks and data in cyberspace

 - Human threats – hackers
 - Fraud – theft of funds
 - Deliberate sabotage – commercial espionage, malicious damage, industrial action
 - Viruses and other corruptions
 - Denial of service (DoS) – prevents legitimate use of a service