Midterm Flashcards
CIBC realized that to be successful in the financial services industry it needs to______
improve its digital innovation
how are google and apple luring away customers from traditional banks?
by providing more convenient payment and banking options.
Information Technology (IT)
any tool that people use to work with information and to support an organization’s information and information-processing needs
Information System (IS)
collects, processes, stores, analyzes, and disseminates information for a specific purpose.
Reasons to study IT/IS
- Be an informed user
- we are all immersed in IT in every aspect
- Organizational “digital” transformations
- all businesses need IT to survive
- no matter the major, you will be a user
what is an informed user?
a person knowledgeable about ISs and IT
why is it beneficial to be an informed user?
- understand is happening behind IT applications
- contribute valuable input in your chosen field
- recommend and contribute to sourcing of IT
- have an awareness of new technology
- understand how it adds or doesn’t add value
what is digital transformation?
- business strategy that leverages IT to dramatically improve employee, customer, and business partner relationships
- supports continuous improvement in business operations and business processes
- develops new business models
what was wendy’s digital transformation?
since they know their customers are judging them on their digital channels, it was one of the first companies to implement self order kiosks.
this also helped with controlling labour costs
professional golf’s digital transformation
- courses must be prepared for the daily technology demands of a modern golf tournament
- course must support the demands of television broadcasters
- wireless connectivity for spectators
Canada’s Olympic and Paralympic Teams digital transformation
- use it to create modelling that identifies talent and finds a performance edge.
what is the CIO
chief information officer. highest rank IS manager. responsible for strategic planning in the organization
data items definition
elementary description of things, events, activities, and transactions that are recorded, classified, and stored, but are not organized to convey any specific meaning. Data items can be numbers, letters, figures, sounds, and images
information in relation to data items
data that have been organized so that they have meaning and value to the recipient
e.g. gpa + name
knowledge in relation to data items
- consists of data and/or information that have been organized and processed to convey understanding, experience, accumulated learning, and expertise as they apply to a current business problem
- user needs to UTILIZE information
what is a computer-based information system (CBIS)
an information system that uses computer technology to perform some or all of its intended tasks
what are the 4 main IT components (+ the 2 extra)
- Hardware consists of devices such as the processor, monitor, keyboard, and printer. Together, these devices accept, process, and display data and information.
- Software is a program or collection of programs that enables the hardware to process data.
- A database is a collection of related files or tables containing data.
- A network is a connecting system (wireline or wireless) that enables multiple computers to share resources.
- Procedures are the instructions for combining these components to process information and generate the desired output.
- Procedures are the instructions for combining these components to process information and generate the desired output.
hardware, software, networks (wireline and wireless), and databases form the _______
information technology platform.
what are information technology services + examples
Activities performed by IT personnel using IT components; specifically, developing information systems, overseeing security and risk, and managing data.
IT components plus IT services compose the organization’s______
information technology infrastructure
what is An application (or app)
a computer program designed to support a specific task or business process
collection of application programs in a single department is usually referred to as
a functional area information system
what do enterprise resource planning (ERP) systems do?
correct a lack of communication among the functional area ISs by tightly integrating the functional area ISs via a common database.
- basically, integrate technology across all functional areas
what does the transaction processing system (TPS) do?
Monitoring, collection, storage, and processing of data from day-to-day
operations
