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INFS 247 > Lectures 1-14 > Flashcards

Lectures 1-14 Flashcards

1
Q
  1. What is loyalty program? (Lecture 2)
A

A rewards program offered by a company to customers who frequently make purchases

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2
Q

Do loyalty programs reduce or increase buyer power?

A

Reduce

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3
Q
  1. What is Porter’s Five Forces Model? (Lecture 2)
A

A framework for analyzing the level of competition within an industry

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4
Q
  1. What is Entry Barrier? (Lecture 2)
A

Cost that must be incurred by an entrant into a market

Cost of products/services/features that customers expect and incumbents already provide

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5
Q

Switching cost? (Lecture 2)

A

Cost to customers of switching to a different product/service from the one they are already using

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6
Q

First Mover Advantage

A

The advantage gained by the initial (“first-moving”) significant occupant of a market segment. A market participant has first-mover advantage if it is the first entrant and gains a competitive advantage through control of resources.

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7
Q

What is KPI? (Lecture 3)

A

A.k.a key performance indicator

A measurable value that demonstrates how well an objective is being achieved

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8
Q

Chosen KPIs should be….? (Lecture 3)

A

Aligned –reflecting with the strategic goals and objectives of the organization
Attainable –measured based on the data that can be obtained in a straightforward manner
Accurate – based on accurate data and calculations
Actionable – giving insights that can prompt action

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9
Q
  1. What is efficiency? (Lecture 3)
A

Appropriate use of resources
“Doing things right”

Doing things that are appropriate

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10
Q

What is effectiveness? (Lecture 3)

A

Pursuing appropriate goals

“Doing right things”

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11
Q

Who is Chief Technology Officer? (Lecture 3)

A

Efficiency of the information systems

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12
Q

Chief Information Security Officer?

A

Security of information systems and data assets

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13
Q

Chief Information Officer? (Lecture 3)

A

Oversees the use of data/information technology and aligns it with the enterprise’s strategies, objectives, and goals

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14
Q

Chief Privacy Officer? (Lecture 3)

A

​Protecting employee and customer data against illegal of unethical use

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15
Q

Chief Data Officer? (Lecture 3)

A

Data governance and utilization of information as an asset

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16
Q
  1. What is Data Warehouse?
A

A large store of data accumulated from a wide range of sources within a company and used to guide management decisions

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17
Q

What is the purpose of DWH? (Lecture 6)

A

A data warehouse is created within an organization as a separate data store whose primary purpose is data analysis

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18
Q
  1. What is ETL? (Lecture 10)
A

Extracting analytically useful data from the operational data sources
Transforming such data so that it conforms to the structure of the target data warehouse model, while ensuring the quality of the transformed data
Loading the transformed and quality assured data into the target data warehouse

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19
Q
  1. Which tools are designed for analysis of data in DWH and Data Mart? (Lecture 7)
A

OLAP (BI) - querying and presenting data from data warehouses and/or data marts for analytical purposes

Online analytical processing (OLAP)

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20
Q
  1. What is data mining? (Lecture 7)

M.U.A.A.

A 
Discovering novel and interesting patterns in large amounts of data
The patterns should be:
Accurate
Meaningful
Understandable
Actionable
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21
Q
  1. What is Big Data? (Lecture 8)
A

Massive volumes of unstructured and semi-structured data that are not formally modeled. Can be coming from various sources and can encompass 80-90% of stored data

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22
Q
  1. What is Supply Chain Management framework? (Lecture 9)
A 
Supply Chain Operations Reference (SCOR) model
What processes does it include?
Plan
Source
Make
Deliver
Return
Enable
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23
Q
  1. What is Bullwhip Effect? (Lecture 9)
A

Occurs when product demand information passes throughout the supply chain in a distorted (delayed) way

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24
Q
  1. What is CRM? (Lecture 10)

What areas in the company does it help to integrate?

A

A) Business strategies and practices for managing and analyzing interactions with past, present and future customers through the use of data and information technology

B) Sales management
Marketing
Customer service

25
Q
  1. Review CRM metrics and KPIs (all - Customer Service, Sales Support, and Marketing Support) (Lecture 10)

a. Customer Service Metrics and KPIs
Number of complaints in a time period
Customer ratings of service
Average time to complete problem resolution
b. Sales Support Metrics and KPIs
Leads-to-conversions rate
Average profit per customer in a time period
Upsell revenues in a time period
c. Marketing Support Metrics and KPIs
Mail/e-mail response rate
Increase in sales during the marketing campaign
Increase in number of customers during the marketing campaign

A

a. Customer Service Metrics and KPIs
Number of complaints in a time period
Customer ratings of service
Average time to complete problem resolution
b. Sales Support Metrics and KPIs
Leads-to-conversions rate
Average profit per customer in a time period
Upsell revenues in a time period
c. Marketing Support Metrics and KPIs
Mail/e-mail response rate
Increase in sales during the marketing campaign
Increase in number of customers during the marketing campaign

26
Q
  1. What is RFM method? (Lecture 10)
A

a. RFM – A method for analyzing customer value
i. Recency
1. When was the most recent purchase by the customer?
ii. Frequency
1. How often does the customer purchase over a period of time?
iii. Monetary Value
1. What is the monetary value of the customer’s purchase over a period of time?

27
Q
  1. What is Automations, Streamlining, BPR, and Paradigm shift? (Lecture 11)
A 
Automating – changing the business process by automating it
Streamlining – changing the business process by removing unnecessary, outmoded, or inefficient steps and methods in the process
BPR – changing the business process not by performing the same process faster, cheaper and more efficient, but by completely redesigning the process
Paradigm shift (strategic reengineering) – BPR effort in one company redefines the entire industry
28
Q
  1. In BPR, what diagram is depicting how the process is done currently? (Lecture 11) ​​
A

“As-Is” diagram

29
Q
  1. What is ERP? (Lecture 11)

When is the best to use it? (Lecture 12)??

A

ERP is a premade, integrated, corporate information system
ERP is one of the ways to achieve an integrated enterprise-wide information system
ERP systems can contain multiple modules for multiple constituencies
ERP deployment can be lengthy

Use it:
As an ERP system
As a Best of Breed Collection
As a custom developed enterprise (single)
Using mixed approach (combination of the previous)

30
Q

What is Best of Breed? (Lecture 12)

When is the best to use it????

A

An integrated collection of function-specific (“best of breed”) commercial off-the-shelf software (COTS) systems

31
Q
  1. What is cloud computing system? (Lecture 12)
A

Use the internet to deliver data storage and processing services hosted by a service provider

32
Q
  1. What are the three business categories within B2C? (Lecture 13)
A

Brick-and-mortar: retailer does not have an online presence
Click-and-mortar: retailer has both an online and offline presence
Pure play: retailer only has an online presence

33
Q
  1. Who is Internet Service Provider? (Lecture 13)
A

Provide access to the internet

34
Q

Internet Content Provider? (Lecture 13)

A

Create/acquire content (text, photos, audio, video, etc.) and distribute it via the internet

35
Q

Transaction Broker? (Lecture 13)

A

Internet based transaction intermediaries

36
Q
  1. What is Net Neutrality? (Lecture 13)
A

The principle that Internet service providers and governments should treat all data on the Internet equally, not discriminating or charging differentially by user, content, site, platform, application, type of attached equipment, or mode of communication

37
Q
  1. What is Encryption? (Lecture 14)
A

Data encryption translates data into a scrambled incomprehensible form

38
Q

Decryption? (Lecture 14)

​

A

Reverts the data to its original state

39
Q

Authentication? (Lecture 14)

A

Login procedure using user ID and password

40
Q

Access Privilege? (Lecture 14)

A

Granting different groups of users access to different portions of data

41
Q
  1. What is Data Backup? (Lecture 14)
A

Saving additional physical copies of the data. Copy of data whose purpose is to restore the original in case of failure

42
Q

Data recovery? (Lecture 14)

​

A

Recovering the data content after a failure

43
Q

Archive? (Lecture 14)

A

Historical data that is no longer actively used

44
Q
  1. What are the methods for dealing with data threats? (Lecture 14)
A 
Updating anti-virus software
Quality passwords, protecting them, and changing them periodically
Logging off when not present
Data access control procedures
Data backup and recovery procedures
Data encryption if/when appropriate
Secured locations for data storage
Proper network security
Training employees
45
Q
  1. What software is used to implement MapReduce technique? (Lecture 8)
  2. What is Upstream? Downstream? (Lecture 9)
A

Hadoop is an open source implementation of the MapReduce technique

46
Q
  1. What software is used to implement MapReduce technique? (Lecture 8)
  2. What is Upstream? Downstream? (Lecture 9)
A

Hadoop is an open source implementation of the MapReduce technique

47
Q
  1. What is Upstream? Downstream? (Lecture 9)
A

Upstream: Supplies Raw materials
Suppliers
Company
Downstream: customer end

48
Q
  1. What is Upstream? Downstream? (Lecture 9)
A

Upstream: Supplies Raw materials
Suppliers
Company
Downstream: customer end

49
Q
  1. What is Application Software? (Lecture 1)
A

Software developed to perform specific jobs or address one or more specific business needs

Provides the tools to perform particular tasks on a computer, such as writing a letter, processing orders, paying bills, etc

50
Q

What is System Software? (Lecture 1)

A

It ENABLES the APPLICATION Software
Acts as a mediator between application programs and the hardware resources of the computer system
Designed to carry out general routine operations, such as loading, copying, or deleting a filet

51
Q
  1. What is Information Systems? (Lecture 1)
A

A computer based system that collects, stores, and manipulates data

52
Q

What are IS core roles? (Lecture 2)

A
  1. Data (information) storage
  2. Facilitating Business Processes
  3. Data (Information) Analysis and Decision Support
53
Q
  1. What is Application Software? (Lecture 1)
A

Software developed to perform specific jobs or address one or more specific business needs

Provides the tools to perform particular tasks on a computer, such as writing a letter, processing orders, paying bills, etc

54
Q

What is System Software? (Lecture 1)

A

It ENABLES the APPLICATION Software
Acts as a mediator between application programs and the hardware resources of the computer system
Designed to carry out general routine operations, such as loading, copying, or deleting a file

55
Q
  1. What is Information Systems? (Lecture 1)
A

A computer based system that collects, stores, and manipulates data

56
Q

What are IS core roles? (Lecture 2)

A
  1. Data (information) storage
  2. Facilitating Business Processes
  3. Data (Information) Analysis and Decision Support
57
Q
  1. Review Data Quality lecture. Pay attention to 2 examples in the lecture.
A 
Problems with
Accuracy
Uniqueness
Completeness 
Consistency
Timeliness
Conformity
58
Q

What is the purpose of DWH? (Lecture 6)
A data warehouse is created within an organization as a separate data store whose primary purpose is data analysis
Is it structured same way as operational database? (Lecture 6)
Does it use same type of technologies as operational database? (Lecture 6)
Is DWH’s userbase same, larger or smaller than operational database’s? (Lecture 6)

A

Data warehouses are modeled and structured differently than operational databases

Use different types of technologies for storage and retrieval than operational database

Data warehouse are used by different (much smaller) set of users than operational databases
Operational databases can be used by thousands of employees partners and customer while DW are used by data analysts and decision maker

59
Q
  1. What are basic OLAP operations (features)? (You will be given examples from the lectures and asked what kind operations are performed in a given scenario). Lecture 7
A

Online analytical processing/ Business Intelligence tool features:

Slice and dice (add, replaces, or eliminates specific attributes (or particular values) from the already displayed result)
Pivot (rotate) : switching the axis
Drill down/ drill up: makes the granularity(the level of details) of the data finer (more details) while up makes it coarser (less details)

INFS 247 (1 decks)

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