Oral daw Flashcards
What is information management?
The process of acquiring, utilizing, accessing, and disseminating information within an organization.
What is the primary goal of information management?
To ensure that an organization obtains the maximum real value from its information resources.
What are Management Information Systems (MIS)?
The infrastructure used to collect, manage, preserve, store, and deliver information.
List the importance of information management.
- Improves efficiency and productivity
- Supports better decision-making through data analysis
- Enhances communication within and outside an organization
- Drives innovation in various industries
What are the key components of information systems?
- People
- Technology
- Processes
- Data
What does a Transaction Processing System (TPS) do?
- Captures and records data
- Processes transactions
- Updates databases
- Generates reports
What is the function of a Management Information System (MIS)?
- Data collection
- Data processing
- Information storage
- Information dissemination
What are the key functions of a Decision Support System (DSS)?
- Data analysis
- Modeling
- Simulation
- What-If analysis
What is the purpose of an Executive Information System (EIS)?
- Strategic decision making
- Performance monitoring
- Trend analysis
- Competitive advantage
What does hardware refer to in information systems?
All the tangible parts of the system, such as computers, mobile devices, input devices, output devices, and storage devices.
What are the two main types of software?
- System software
- Application software
Define data in the context of information systems.
The collection of facts, figures, and information that the system processes.
What is business intelligence?
Technologies, processes, and tools used to analyze data and transform it into actionable insights that support business decision-making.
How does business intelligence improve operational efficiency?
By identifying trends and inefficiencies.
What are the key components of business intelligence?
- Data
- Data warehouses
- ETL processes
- Data analytics
- Visualization & reporting
What does ETL stand for?
Extract, Transform, Load
What is the function of data warehouses?
A centralized storage system that consolidates data from multiple sources for analysis.
What are some examples of business intelligence tools?
- Power BI
- Tableau
- Google Looker Studio
- Rapid Miner
- KNIME
What is Hadoop?
A framework that allows for the distributed processing of large data sets across clusters.
What are some benefits of business intelligence in organizations?
- Improves operational efficiency
- Enhances customer experience
- Identifies market trends & patterns
- Provides real-time insights
- Cultivates a data-driven decision culture
How does business intelligence apply to marketing?
Helps decide which marketing campaigns are most effective, which customer segments to target, and how to personalize customer interactions.
Fill in the blank: Business intelligence supports financial _______ and risk management.
forecasting
True or False: Business intelligence can help inform decisions about pricing and product development.
True
