Chapter 16: Exploring Business Technology Flashcards
provides a business quicker and more accurate access to info regarding their buyers needs
technology
helps companies deliver on their promises and provide customer service
techonlogy
an example of using technology for decision making is
planning operations
the cost of licensing content eats up ____ of revenue and will only increase
50%
managers seek out ____ that can better help them serve customers
insights
insights may come from sources such as:
internal company records, market research, news or analysis of competitors
a technology system that provides managers and employees with info they need to perform their jobs as effectively as possible
management information system (MIS)
the goal of technology is to ensure that:
the right people have the right info at the right time
2 benefits of MIS
- huge amounts of data can be processed quickly
2. info can be distributed to manager and employees automatically
the specific type of info managers need usually depends on their
work functions
manager work functions:
financials, operations, marketing, and HR
3 primary functions of an MIS
collect data, process data, and present data
a type of computer usage in which services stored on the Internet are provided to users on a temporary basis
cloud computing
employees access the MIS using the company’s
internal computer network
the internal computer network helps
keep data secure
makes collaboration easier, provides access to a wider range of tools for storing and processing data, and reduces IT costs
cloud computing
used to describe all of a business’ activities to support a healthy environment
green IT
the emergence of worked computers and databases enabled increased use of
management information systems
the growth of _____ increases our choices and gives us new options for acquiring goods/services we need
online business
the growth of online business
saves time and money
6 common business models for leveraging the connectivity provided by today’s technology
online-only retailing, click-and mortar retailing, business-to-business procurement, advertising-based model, fee-based content, and fee-based platform
an online b.m where the company was conceived from the outset to sell online
online-only retailling
an online b.m where traditional brick-and-mortar retailers sell online aswell
click-and-mortar retailing
an online b.m where companies move their supply chain ordering processes online
business-to-business procurement
an online b.m where content or functionality is offered to users for free and the company sells advertising to generate revenue
advertising-based model
an online b.m where sites charge a fee for access to news, etc.
fee-based content
an online b.m where companies offer users functionality or connectivity in exchange for a fee
fee-based platform
can decrease costs and ensure greater accuracy than older methods of ordering
business-to-business procurement
offer content or functionality that attracts a large user base, and then sell advertisers the opportunity to communicate with that user base
advertising-based model ex: Facebook
example: Netflix provides access to movies for a monthly fee
fee-based content
provides users some kind of functionality like sharing content or conducting transactions
fee-based platform
the combination of traditional offline marketing tactics with online marketing tactics
multichannel marketing
6 major categories of online marketing tactics
- search engine optimization
- pay per click
- content marketing
- social media marketing
- lead generation
- email marketing
measurements that a company uses to track its progress toward achieving various objectives
key performance indicators (KPI’s)
an online m.t to improve search engine ranking by optimizing website structure and use of keywords
search engine optimization (SEO)
a method of online advertising where advertisers only pay when a consumer clicks on an add
pay-per-click
an online m.t that uses blogs, videos, and infographics to attract new customers
content marketing
an online m.t that involves interacting with customers on social networks like Facebook
social media marketing
an online m.t that involves creating a web page whose sole purpose is to get costumers to provide their email or other contact info
lead generation
the collection and analysis of data related to a website or other online marketing activities
web analytics
crucial for online advertising campaigns
analytics
companies use online tools for 3 purposes
- improve customer service
- manage company reputation
- gather product and marketing insight
involves outsourcing tasks to a group of people in order to tap into the ideas of the crowd
crowd sourcing
it is recommended that companies avoid the use of _____ and _____ when designing mobile-optimizing sites
Java and Flash
2 ways merchants can enable a quick, easy checkout
saved customer accounts, and online payment services
allowing customers to save their payment information from previous web store purchases
saved customer accounts
accepting third-party purchases by logging into their existing accounts to complete the transaction
online payment services
