Information used by organisations Flashcards
1
Q
What is knowledge management?
A
accumulating all of an organisations information for a better insight.
2
Q
What are Management Information Systems (MIS)?
A
A system that analyses data to provide the key information needed for decisions
3
Q
What is Big Data?
A
Large volumes of data used daily
4
Q
How is information used for Marketing, Promotion and Sales?
A
Data gathered for the selling process e.g. loyalty cards, spending habits
5
Q
How is information used for Financial Analysis and Modelling?
A
- Sales figures can show the top and worst performing products
- Financial models can show a potential decisions impact
6
Q
How is information used for Contact Management?
A
- information stored about bookings and client details
7
Q
What are examples of Limitations of data?
A
- unreliable data
- Data being unavailable
