omis ch5-9 Flashcards
step by step process for performing a task in a finite amount of time, has a certain output
Algorithm
the ability of a system to gracefully accommodate growing sizes of inputs/amounts of workload
Scalability
how long it takes to perform a task
Running time
T(n) = maximum time of algorithm on any input of size n
Worst case running time
= O(n)
Linear search
= O(logn), only if input is sorted
BInary search
theoretical definition of complexity of an algorithm as a function of the size, Order of magnitude of complexity
Big O
search methods with most inefficient performance
exponential and factorial runtime
walk down list, comparing adjacent elements, swapping them if they are in the wrong order until list is sorted
Bubble sort algorithm
internal sources, personal sources, external sources, new sources
sources of data
what goes wrong with data
lost, stolen, deleted, hacked
data increases exponentially, data scattered, outdated, new sources
difficulties managing data
people/processes and procedures of data in order to improve data security, increase consistency and reduce fines
Data governance
semi permanent data or permanent data that you want records of e.g. customer name, telephone number
master data
activities or events
transaction data
Database management systems minimize 3 problems
Data redundancy
Data isolation (security)
Data inconsistency
Database management systems maximize 3 problems
Data integrity
Data security
Data independence
unique identifier generated by system or you
primary key
primary key from another table to connect btwn tables
foreign key
data is stored in files but there is no connection between files
flat file
model similar to a corporate organization chart, each element has a single parent record but may have multiple child records, only relationship with its parent or child records
Hierarchical
similar to hierarchical model but allows many to many relationships
Network
data is stored in tables, relationships between data are created via keys (most common, used in SQL)
Relational
attributes in the table depend only on the primary key
normalization
STRUCTURED QUERY LANGUAGE
SQL
DIVERSE, HIGH-VOLUME, HIGH-VELOCITY INFORMATION ASSETS THAT REQUIRE NEW FORMS OF PROCESSING TO ENABLE ENHANCED DECISION MAKING, INSIGHT, DISCOVERY, AND PROCESS OPTIMIZATION
big data
transaction process system, is information processing system for business transactions involving the collection, modification and retrieval of all transaction data
TPS
enterprise resource planning, software that organizations use to manage day to day business activities e.g. accounting, procurement, risk management etc.
ERP
expert system, software programmed using AI techniques, use databases of expert knowledge to offer advice or make decisions e.g. medical diagnosis, stock trading
ES
decision support system, computerized program used to support determinations, judgements and courses of action in an organization/business. DSS sifts through and analyzes massive amounts of data, compiling comprehensive info that can be used to solve problems/decision making
DSS
routine decisions with definite procedures e.g. restock inventory, special offers to customers
Structured decisions
new, non routine decisions requiring judgement and insights e.g. approve capital budget, decide corporate objectives
Unstructured decisions
only part of decision has clear cut answers provided by accepted procedures e.g. allocate resources to managers, develop a marketing plan
Semi-structured decisions
financial management, operations management, human resources management and add ons - customer relationship management and supply chain management
Core ERP modules
procurement process which originates in warehouse department and ends in accounting department
Procure to pay (P2P)
fulfillment process, originates in sales department, ends in accounting department
Order to cash (OTC)
-production process originates from warehouse department, and ends in warehouse department
Demand to build
allows for joint execution, integration, data sharing, flow of information
ERP benefits
companies may need to change processes - may not be optimal for every company, transition can be complex, expensive and time consuming, staff retraining and resistance may be met
ERP limitations
strategy to manage and nurture customer interactions in order to garner future returning sales and word of mouth marketing
Customer relationship management (CRM)
customer facing operation will help service provider reach customer face to face, customer touching operation not face to face
Operational CRM
helps managers to understand how customers work and give paths for decision making related to customers e.g. cross selling, up selling
Analytical CRM
when retailers make inaccurate demand projections, gap gets bigger and bigger up along the supply chain
bullwhip effect
