IS and their Impact

Question 1

According to Professor Schwab, what is the fourth industrial revolution?

Answer 1

Everything integrated into an ecosystem driven by big data, automating decision making

Question 2

What will the impact of the fourth industrial revolution be?

Answer 2

Every industry will be digitalised, society will change

Question 3

What are the four characteristics of the digital world?

Answer 3

1. Digitised and tracked - UPS delivery
2. Connected - a digital farm, giving the farmer way more information than was ever possible
3. Personalisation - Nike can customise trainers
4. Direct, companies can go direct to customers - Amazon allowing customers to buy books straight from the author instead of a book store

Question 4

What does data mean?

Answer 4

Data refers to raw facts and measurements; in other words, values without any particular context.

Question 5

What does information mean?

Answer 5

Information can be thought of data that has been made useful in some way; it’s been given significance perhaps by being processed or placed in context.

Question 6

What does knowledge mean?

Answer 6

Knowledge is “know-how”— the ability to do something in particular. Knowledge allows us to do useful things.

Question 7

What is an information system?

Answer 7

An information system is a system that gathers, stores, uses and/or disseminates data or information.

Question 8

What are the components of information systems?

Answer 8

Components of an information system are, hardware, software, data/information, people and organisations, business processes

Question 9

What are the major categories of information systems?

Answer 9

• executive information systems,
• decision support systems,
• management information systems.
• transaction processing systems.

Question 10

What are executive information systems?

Answer 10

Executive systems are designed for top management, providing primarily summary-level data.

Question 11

What are decision support systems?

Answer 11

Decision support systems help with unstructured, ad hoc decision-making.

Question 12

What are management information systems?

Answer 12

Management information systems provide information about the state of the business and support routine decision-making.

Question 13

What are transaction processing systems?

Answer 13

Transaction processing systems support day-to-day operations by capturing and managing information about business events.

Question 14

What are the other categories of information systems?

Answer 14

Executive information systems
Management information systems
Transaction processing systems
Process control systems
Enterprise collaboration systems