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ISM-3003 Exam 1 > Exam 1 > Flashcards

Exam 1 Flashcards

1
Q

Describe the Information Age

A
  • Knowledge is power
  • Information can take on many forms depending on the context in which it is used
  • a time infinite quantities of facts are widely available to anyone who can use a computer
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2
Q

examples of the power of business and technology

A

amazon, netflix, zappos

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3
Q

Internet of Things (IoT)

A

A world where interconnected Internet-
enabled devices or “things” have the
ability to collect and share data
without human intervention

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4
Q

Machine-to-Machine (M2M)

A

Refers to devices that connect
directly to other devices

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5
Q

Fact

A

the confirmation or validation of an event or object

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6
Q

Data

A

Raw facts that describe a particular phenomenon such as the current temperature, the price of a movie rental, or your age

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7
Q

Big data

A

A collection of large, complex
datasets, which cannot be analyzed using
traditional database methods and tools

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8
Q

Variety

A

Different forms of structured and unstructured data

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9
Q

Veracity

A

The uncertainty of data, including biases, noise and abnormalities

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10
Q

structured data

A

Has a defined length,
type, and format and includes numbers,
dates, or strings such as Customer
Address format

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11
Q

machine-generated data

A

Created
by a machine without human
intervention

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12
Q

human generated data

A

Data that
humans, in interaction with computers,
generate

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13
Q

unstructured data

A

not defined, does not follow a specificed format and is typicaly free-form text such as emails, twitter tweets and text messages does not follow a specified format

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14
Q

machine-generated unstructured data

A

such as satellite images, scientific atmosphere data, and radar data

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15
Q

human-generated unstructured data

A

such as text messages, social media data and emails

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16
Q

Volume

A

the scale of data

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17
Q

Velocity

A

the analysis of streaming data as it travels around the internet

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18
Q

Information

A
  • Data that have a meaningful and useful context
  • The current temperature becomes information if you’re deciding what to wear; in deciding what to wear, the data describing the price of a movie rental are not pertinent information (and therefore only data in that context).
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19
Q

variable

A

a data characteristic that stands for a value that changes or varies over time

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20
Q

Knowledge

A
  • Facts, information, and skills acquired by a person through experience or education
  • the theoretical or practical understanding of a subject.
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21
Q

Business Intelligence

A

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

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22
Q

What are the key components of Porter’s Five Forces?

A

-Buying power
-Supplier power
-Threat of substitute products or services
-Threat of new entrants
-Rivalry among existing competitors

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23
Q

Why is it so important to understand Porter’s Five Forces when making technology decisions?

A

To access technology and the competitive advantage it can yield, many people choose to use Porter’s model because it helps business people understand the relative attractiveness of an industry and the industry’s competitive pressures in terms of the five forces

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24
Q

What are Porter’s 3 generic strategies to beat the competition?

A
  • Overall Cost Leadership
  • Differentiation
  • Focus
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25
Q

Overall Cost Leadership

A

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

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26
Q

Differentiation

A

offering a product or service that is perceived as being “unique” in the marketplace

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27
Q

Focus

A

offering products or services to (1) a particular market segment or buyer group, (2) within a segment of a product line, and/or (3) to a specific geographic market

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28
Q

What is IT and how is it different from MIS?

A
  • Information technology is any computer based tool that people use to work with information and support the information-processing needs of an organization
  • Whereas, MIS deals with the planning for, development, management, and use of information technology tools to help people perform all tasks related to information processing and management.
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29
Q

What is Hardware?

A

consists of the physical devices that make up a computer, for instance: keyboard, mouse, modem, flash, memory drive, or a printer

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30
Q

What are the different categories of hardware?

A
  • Input
  • Output
  • Storage
  • Processing
  • Telecommunications
  • Connecting
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31
Q

Input Device

A

tool used to enter information and commands

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32
Q

Output Device

A

tool used to see, hear, or otherwise recognize the results of your information-processing requests

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33
Q

storage device

A

tool used to store information for a use at a later time

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34
Q

Central Processing Unit (CPU)

A

the actual hardware that interprets and executes the software instructions and coordinates the operation of all other hardware

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35
Q

telecommunication device

A

tool used to send information to and receive it from another person or computer in a network

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36
Q

connecting device

A

includes such things as USB ports into which you would connect a printer and connector cords to connect your printer to the port

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37
Q

what is software

A

the set of instructions your hardware executes to carry out a specific task for you such as creating a graph and surfing the web

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38
Q

What are the different categories of software?

A

application and system software

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39
Q

What are the different sizes of computers

A
  • smartphones
    -tablet PC’s, slates, and E-readers
    -notebook computers
    -desktop computers
    -minicomputers, mainframe computers, and supercomputers
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40
Q

Smartphone

A

cell phone with additional features such as camera, internet connectivity, note taking capabilities, GPS capabilities, and digital music and video players

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41
Q

tablet

A

slim-line handheld computer that is about the size of a notebook or smaller with a touchscreen that has functioning capabilities of notebooks or desktop computers

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42
Q

slate

A

lighter, slimmed-down version of a tablet without a dedicated physical keyboard. (tablet and slate becoming interchangeable terms)

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43
Q

e-reader

A

portable computer designed specifically for reading digitized books and periodicals

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44
Q

notebook computers

A

aka laptop) small, portable, fully functional, battery-powered computer equipped with all of the features of a large desktop computer.

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45
Q

desktop computer

A

most popular choice for personal computing needs

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46
Q

minicomputer

A

designed to meet the computing needs of several people simultaneously in a small to medium size business environment. more powerful than desktop computers

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47
Q

mainframe computer

A

designed to meet the needs of hundreds of people in a large business environment

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48
Q

supercomputer

A

fastest, most powerful, and most expensive type of computer. Used by NASA and the National Weather Service

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49
Q

Bit (Binary Digit)

A

the smallest unit of information that your computer can process

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50
Q

Byte

A

group of eight bits representing one natural language character

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51
Q

Kilobyte

A

equal to 1,024 bytes

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52
Q

Megabyte

A

roughly 1 million bytes

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53
Q

Gigabyte

A

roughly 1 billion bytes

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54
Q

Terabyte

A

roughly 1 trillion bytes

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55
Q

Petabyte

A

roughly 1 million gigabytes

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56
Q

What is CPU

A

Central Processing Unit is the hardware that interprets and executes the system and application software instructions and coordinates the operation of all other hardware.

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57
Q

What are the different ways devices attach to computer?

A

-Wired connections: USB port, Firewire ports, PS/2 ports, DVI, and VGA
-Wireless connections: Infrared, Bluetooth, and WiFi
-Expansion cards and slots

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58
Q

The four most important implementations of business processes companies can use to support their business strategies are:

A

1.) Supply chain management
2.) Customer relationship management (CRM)
3.) Enterprise resource planning
4.) Social media

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59
Q

Why is IT an important part of an organization’s overall strategy?

A

IT can give companies a competitive advantage against their competitors allowing them to excel above the rest of the industry

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60
Q

What is a SCM (supply chain management) system?

A

system that tracks inventory and information among business processes and across companies

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61
Q

What is a CRM (customer relationship management) system?

A

system that uses information about customers to gain insights into their needs, wants, and behaviors in order to serve them better

62
Q

What is e-collaboration?

A

process of monitoring, critiquing, and cooperating in a project or a program by using internet, emails, groupware, etc.

63
Q

What is ERP (enterprise resource planning) system?

A

system that is a collection of integrated software for business management, accounting, finance, HR management, project management, inventory management, service and maintenance, transportation, e-business, and supply chain management

64
Q

What is IT culture?

A

the collective beliefs and abilities of a group of people regarding their knowledge and capabilities of using information technology

65
Q

How does the IT culture of an organization shape the role of IT in an organization?

A

If an organization has culture in which IT is present and familiar, they will be able to put their IT resources to the best use.

66
Q

Why do organizations store data?

A

to analyze and process it in the future

67
Q

What determines the logical structure of a database?

A

A data dictionary contains the logical structure for the information in a database

68
Q

What is the most popular type of database?

A

Relational database

69
Q

What are the 2 parts of a relational database?

A

1.) the information itself, stored in a series of two-dimensional tables, files, or relations
2.) the logical structure of that information

70
Q

Tables, rows, columns, fields

A

refer to physical locations of data within a spreadsheet

71
Q

What is a primary key?

A

field or group of fields that uniquely describe each record (ex: customer number is the primary key for the customer file)

72
Q

What is a foreign key?

A

a primary key of one file that appears in another file

73
Q

What is the purpose of a primary key?

A

to create ties or relationships in the information that show how the files relate to each other

74
Q

What is the purpose of a foreign key?

A

without them, you have no way of creating logical ties among the various files

75
Q

How are primary and foreign keys similar/different?

A

Primary keys uniquely describe each record.
Foreign keys create a logical relationship between two files.

76
Q

What is the purpose of the data dictionary?

A

contains the logical structure for the information in a database

77
Q

What is a DBMS (database management system)?

A

helps specify the logical organization for a database and access and use the information within a database. (5 parts)

78
Q

5 Parts of a DBMS

A

1.) DBMS engine
2.) Data definition subsystem
3.) Data manipulation system
4.) Application generation subsystem
5.) Data administration subsystem

79
Q

DBMS engine

A

accepts logical requests from various other DBMS subsystems, converts them into their physical equivalent, and actually accesses the database and data dictionary, as they exist on a storage level

80
Q

Data definition subsystem

A

helps create and maintain the data dictionary and define the structure of the files in a database

81
Q

Data manipulation system

A

helps add, change and delete information in a database and query it for valuable information

82
Q

Application generation subsystem

A

contains facilities to help develop transaction-intensive applications

83
Q

Data administration subsystem

A

helps manage the overall database environment by providing facilities for backup and recovery, security management, query optimization, concurrency control, and change management

84
Q

How is a data warehouse different from a database?

A

A data warehouse is a logical collection of information gathered from many different operational databases used to create business intelligence that supports business analysis activities and decision-making tasks

85
Q

What are data warehouses used for?

A

A data warehouse is simply the next step (beyond databases) in the progression of building business intelligence and it supports intriguing, necessary, and complex queries to create business intelligence

86
Q

What is data mining?

A

Data-mining tools are the software tools used to query information in a data warehouse. Essentially they are the tools used to mine data a data warehouse and extrapolate the business intelligence you need to make a decision, solve a problem, or capitalize on an opportunity to create a competitive advantage

87
Q

What is business intelligence (BI)?

A

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 business decisions.

88
Q

Why is the quality of data in a database important? How do you make sure it is “good” quality?

A

The quality of data is important because false data can cause the wrong decisions to be made. Integrity constraints are rules that help ensure the quality of the information

89
Q

What is a network?

A

two or more computers connected so that they can communicate with each other and share information, software, peripheral devices, and/or processing power

90
Q

How do networks connect/computers connect to a network?

A

-Each computer on a network must have a network interface that provides the entrance or doorway in that computer for the information traffic to and from other computers.
-A network usually has at least one connecting device that ties the computers on the network together and acts as a switchboard for passing information.
-There must be communications like cables or radio waves connecting network hardware devices. The communications media transport information around the network between computers and the connecting devices.
-Each computer must have software that supports the movement of information in and out of the computer. This could be a modem software and /or a network operating system.

91
Q

What is an IP (Internet Protocol) address?

A

the number assigned to a network-equipped piece of hardware by which other devices identify it

92
Q

What is bandwidth?

A

The amount of information that a communications medium can transfer in a given amount of time.
**The most common type of measurement used when comparing different types of communications media. (refers to capacity of the communications medium)

93
Q

How are networks defined in terms of distance covered?

A

-LAN
-WAN
-MAN

94
Q

LAN

A

Local Area Network - covers a building or buildings in close proximity, such as one campus of a university or corporation

95
Q

WAN

A

Wide Area Network - set of connected networks serving areas or buildings not in immediate proximity to each other

96
Q

MAN

A

Metropolitan (or Municipal) Area Network - relatively recent term for a specific type of WAN. It is a set of connected networks all within the same city or metropolitan area, but not in immediate proximity to each other.

97
Q

What are the different ways a network can connect to the internet?

A

-Dial-up circuits: using an ordinary telephone line and a modem
-Digital Subscriber Line (DSL): runs a high-speed connection over a telephone line without interfering with the voice telephone service
-Cable modem: runs a high-speed connection over a cable television line without interfering with television reception
-Satellite modem: runs a high-speed connection through your cable TV satellite without interfering with your television reception
-T1 and DS3: dedicated high-speed lines, which run on separate circuits and are generally used for business connections

98
Q

What are the key issues related to network security?

A

-Confidentiality
-Authenticity
-Integrity
-Availability

99
Q

Confidentiality

A

means that information can be obtained only by those authorized to access it

100
Q

Authenticity

A

means that information really comes from the source it claims to come from

101
Q

Integrity

A

means that information has not been altered

102
Q

Availability

A

means simply that a service or resource is available when it’s supposed to be

103
Q

What is MIS?

A

MIS deals with the planning for, development, management, and use of information technology tools to help people perform all tasks related to information processing and management

104
Q

What role does MIS play in organizations?

A

The real focus of MIS is on how people use technologies to work with and massage information to help an organization achieve its goals

105
Q

What are the three key resources that MIS focuses on?

A

MIS deals with the coordination and use of three very important organizational resources: information, people, and information technology

106
Q

dynamic report

A

changes automatically during creation

107
Q

report

A

A document containing data
organized in a table, matrix, or graphical
format allowing users to easily
comprehend and understand information

108
Q

static report

A

created once based on data that does not change

109
Q

analytics

A

the science of fact-based decision making

110
Q

business analytics

A

The scientific process of
transforming data into insight for making better
decisions

111
Q

data scientist

A

Extracts knowledge from data by
performing statistical analysis, data mining, and
advanced analytics on big data to identify trends,
market changes, and other relevant information.

112
Q

descriptive analytics

A

descrives

113
Q

diagonstic analytucs

A

examines data asks the question why?

114
Q

predictive analytics

A

extracts information from data and uses it to predict future trends

115
Q

prescriptive analytics

A

creates models including the best decision to make or course of action to take

116
Q

knowledge assest

A

human resources

117
Q

knowledge facilitators

A

help harness wealth

118
Q

knowledge worker

A

people who analyze information

119
Q

data silo

A

occurs when on business unit is unable to freely communicate with other business units

120
Q

data democratization

A

the ability data to be collected, analyzed and accessible to all users

121
Q

goods

A

material items such as cars and clothing

121
Q

services

A

tasks performed by people ex: teaching

122
Q

system thinking

A

a way of monitoring the entire system by viewing multiple inputs being processed

123
Q

Chief information officer

A

information and
ensures the strategic alignment of MIS with business
goals and objectives.

124
Q

chief data officer

A

Responsible for
determining the types of information the enterprise will
capture, retain, analyze, and share

125
Q

chief technology officer

A

Responsible for
ensuring the throughput, speed, accuracy, availability,
and reliability of information

126
Q

competitive advantage

A

product
or service that an organization’s
customers place a greater value on
than similar offerings from a
competitor

127
Q

first-mover advantage

A

Occurs
when an organization can
significantly impact its market share
by being first to market with a
competitive advantage

128
Q

SWOT

A
  • strengths, weaknesses, opportunities and threats
129
Q

buying power

A

buyers to affect the price of an item

130
Q

switching cost

A

manipulating costs that make customers reluctant to switch to another product

131
Q

loyalty program

A

rewards customers based on the amount of business they do with a particular organizatio

132
Q

supply chain

A

all parties involved in the procurement of a product or raw material

133
Q

Threat of new entrants

A

High
when it is easy for new competitors
to enter a market and low when
there are significant entry barriers

134
Q

entry barrier

A

A feature of a
product or service that customers
have come to expect and entering competitors must offer the same for survival.

135
Q

value chain analysis

A

views a firm as a series of business processes that each add value to the product or service

136
Q

inbound logistics

A

acquires raw materials and resources

137
Q

operations

A

raw materials into goods and services

138
Q

outbound logistics

A

distributes goods and services to customers

139
Q

marketing and sales

A

promotes prices and sells products to customers

140
Q

service

A

provides customer support

141
Q

firm infrastructure

A

includes the company format or departmental structures, environment and systems

142
Q

human resource management

A

provides employee trainning, hiring and compensation

143
Q

technology development

A

applies MIS to processes to add value

144
Q

procurement

A

purchases inputs such as raw materials, resources, equipment and supplies

145
Q

operational level

A

employees develop, control and maintain core business activities

146
Q

managerial level

A

employees evaluate company operations to identify and leverage change

147
Q

strategic level

A

managers develop overall strategies

148
Q

criitcal sucess factors

A

steps companies make to perform to achieve their goals

149
Q

key performance indicators

A

metrics a company uses to evaluate progress

ISM-3003 Exam 1 (3 decks)

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