Quiz Flashcards
(20 cards)
IS
set of components that collect, process, store, and distribute information to help decision-making in businesses
Components of IS
Technology (hardware software networking) People (Users IT staff managers employees) Processes (Workflows for data collection)
Information technology
hardware and software a business uses to achieve its objectives
Data vs Information
Data is raw facts, info is processed data that provides meaning
Functions of IS
Input (collecting raw data), processing (converting data into meaningful information), output (delivering processed information to users), feedback (adjusting system based on data insights)
Types of IS
Transaction processing system, management information system, decision support system, enterprise resource planning, e-commerce systems
TPS
Handles routine transactions (e.g., ATMs, sales checkout).
Management Information System
Provides reports for decision-making.
Decision Support System (DSS)
Helps managers analyze complex problems
Enterprise Resource Planning (ERP)
Integrates all business functions (e.g., SAP, Oracle ERP).
E-commerce Systems:
Online sales and payment platforms (e.g., Amazon, Shopify)
Why businesses invest into IS
Operational excellence, new products and business modules, customer and supplier intimacy, imroved decision making, competitive advantage, survival
emerging digital firm
business where all majot processes, relationships, and assets are digitally managed
role of IT in businesss transformation
Cloud Computing – Accessing data from anywhere (e.g., Google Drive).
Big Data & Analytics – Companies analyzing customer behavior (e.g., Netflix recommendations).
Artificial Intelligence (AI) – Automating tasks (e.g., chatbots).
Internet of Things (IoT) – Smart devices collecting data (e.g., Tesla cars).
E-commerce Growth – Online retail booming (e.g., $3.6 trillion global e-commerce market).
AWM Frictionless
Cashierless shopping, object recognition (e.g., QuickEats store)
AWM Smart Shelf:
Personalized discounts based on shopping behavior
Consumer Behavior Tracking:
Digital signage directs customers inside the store.
Business Information Value Chain
The process of turning raw data into valuable information that improves decision-making.
Steps:
Collect data.
Process & analyze.
Generate insights.
Improve business strategy.
IT Investments & Business Returns
Investing in IT ≠ Success
Companies must also invest in complementary assets, like:
Organizational assets (business culture, training).
Managerial assets (leadership, decision-making).
Social assets (collaboration, regulations).
Management Challenges in IT
Security & Privacy Risks – Hacking, data breaches.
Data Overload – Managing large datasets.
IT System Failures – Downtime leads to losses.
Workforce Adaptation – Employees must learn new technology.
