exam 1 Flashcards
Moore’s Law
computers are getting faster &
price/performance ratio and cost decreasing giving nearly unlimited, cheap storage
Metcalfe’s Law
digital devices are very connected
Nielson’s Law
network speed increasing
Kryder’s Law
storage capacity increasing
Bell’s Law
a new class of computers establishes a new industry every decade
MIS
management and use of information systems that help organizations achieve their strategy
goals of MIS
to develop, maintain, and adapt
take an active role in systems’ development
employ the system to accomplish job tasks
information systems (IS)
drives development of new information systems, plus procedures and people
5 components of IS
hardware, software, data, procedures, people
information tech (IT)
drives development of new IS
components of IT
hardware, software, data
human side of IS
procedures and people
computer side of IS
hardware and software
information
knowledge derived from data
5 characteristics of information
accurate, timely, relevant, just barely sufficient, worth its cost
describe the “accurate” characteristic of information
complete, correct, crucial for management
describe the “timely” characteristic of information
produced in time for intended use
describe the “relevant” characteristic of information
context, subject
describe the “just barely sufficient” characteristic of information
for purpose which generated
describe the “worth its cost” characteristic of information
relationship between cost and value
5 forces to determine industry structure
- competition from vendors who manufacture substitutes
- competition from new competitors
- competition from existing rivals
- bargaining power of customers
- bargaining power of suppliers
competitive strategy
organizations’ response to the structure of industry
industry-wide cost
lowest cost across the industry
industry-wide differentiation
better product/service across the industry
focus cost
lowest cost within an industry segment
focus differentiation
better product/service within an industry segment
value chain
network of value-creating activites
value
amount customers will pay
primary activities of value chain
inbound logistics, operations/manufacturing, outbound logistics, customer service, sales and marketing
supporting activities of value chain
firm infrastructure, technology, human resources, procurement
business process
network of activities that generate value by transforming inputs into outputs
how does the business process support strategy?
by keeping a competitive advantage
product implementations
creating, enhancing, and differentiating products/services
process implementations
lock in customers/suppliers/buyers, reduce costs, establish alliances, raise barriers to market entry
business intelligence (BI)
information systems that process data to identify patterns, relationships, and trends
how do organizations use BI?
identifies changes in purchasing patterns, entertainment
3 primary BI activties
acquire data, perform analysis (reporting, big data, data mining), publish results
data warehouse
applies to the entire organization, complex & difficult to manage, more useful in decision-making
data mart
limited for departmental use, created to address a specific problem/opportunity/business function
what is a problem with operational data?
raw data can be unsuitable for sophisticated reporting or data mining
two types of data mining
supervised and unsupervised
supervised data mining
model is developed before analysis and statistical techniques are applied to estimate model parameters (prediction, linear regression)
unsupervised data mining
analysts don’t create a model/hypothesis before running an analysis (cluster analysis)
4 v’s of big data
volume, velocity, veracity, variety
volume
petabyte or larger
velocity
generated rapidly
veracity
trustworthiness of data
variety
structure but available in many forms
two alternative for publishing BI
static and dynamic
static publishing
fixed at time of creation and doesn’t change
dynamic publishing
updated at time of request, requires BI application to access a database
BI server
web server specifically for publishing BI
two functions of a BI server
management and delivery
management of a BI server
maintains metadata and adjusts allocations
delivery of a BI server
to any device, push (delivered based on a schedule) and pull (user requests BI results)
