Systems Management & Digital Business Innovation Flashcards
Sarbanes-Oxley (2002)
- Enacted as response to accounting scandals
- Designed to prevent fraud, increase transparency, eliminate conflicts of interest, protect whistle blowers
- Has major impact on ERP systems and business software because IT checks to make sure books are good
HIPPA (1996)
- Security and enforcement rule
- Health care access and portability
- Preventing health care fraud and abuse
HITECH Act (2009)
- Drives expansion of electronic record and IT in healthcare industry
- Foundation for healthcare reform
- Electronic Health Record
Effects of the Internet
- Increase in competition
- Decrease in margines
- Increase in caliber and quality
- Increase in rate of change
What are fantasy sports good for?
- Live viewership
- Advertising
- Content providers
- Real money in imaginary games
The Long Tail Distribution
- Variety > Bestsellers
- Money is in the tail
- Netflix, Amazon, iTunes, Advertising products
What is the overall idea of the long tail?
Companies get most of its profits from a large number of infrequently requested movies rather than from few large and profitable movies
Systems Development Life Cycle (SDLC)
Term used in systems engineering, information systems, and software engineering to describe a process for planning, creating, testing, and deploying an information system
The Post Industrial Society
Predicted that such a convergence would shift the economies of developed nations from manufacturing to services and create new technical elites working for new science based industries
How did the Internet disrupt power?
Eliminated trade offs between the richness of information and its reach to people
What is technology now focused on?
Software with mobility and connectivity
5 Tech Trends that will dominate 2017
- Different Realities
- Driverless Cars
- Wearables
- Artificial Intelligence
- The Cloud & Internet of Things
Different Realities
Virtual reality technologies will become mainstream by enhancing the world, not escaping it
Driverless Cars
- 20% of CES show dedicated to driverless technology
- Expected to grow over 40%
Wearables
- Expecting a major reconfiguration in smart-watches and fitness bands
- More invasive technologies to help lead healthier lives
Artificial Intelligence
- Expanding of Siri, Alexa
- Being extended into cards, drones, healthcare, agriculture
The Cloud & Internet of Things
- Enhancing the way everyday objects connect and interact
- Low powered alternatives for Wifi and Bluetooth
Prediction of e-commerce
Price lower/uniform and selection wider
What are higher prices a sign of?
Buyers are being better matched to the products they want
What are some of the benefits in Fantasy Sports?
-With money on line, fans watch game live until end which boosts advertising and money for league
Waterfall SDLC
- Know what the end result is
- Finish one phase before moving on to next
Agile SDLC
- Don’t know what end result is
- Develop over period of weeks (sprint) and test
- Get feedback from client
- Cycle repeats until product it completed
Similarity between Waterfall and Agile
- Same sequence of stuff
- Does the same thing
Phases of SDLC
- Requirements gathering
- Analysis
- Buy vs. Build
- Design
- Coding
- Testing & Maintenance
- Training
- Go Live
Long Tail/Fat Tail
- 80% revenue due to 20% of customers
- Variety > Bestsellers
Disruptive Power of Internet Changes:
- How we market products
- Payment processing
- Discovering new prospects (flyers vs. linkedin)
- Virtual reality driven business (teleconference)
- New opportunity for crime (hacking)
Disruptive Power of Camera
Film in dark room –> Camera –> Camera on phone
5 Disruptive Trends
- Big Data (consumer habits)
- Robotics (drones, roomba, teleconfrencing)
- Digital Health and Quantified Self (fitbit, insulin pump)
- Gaming and Immersion (Wii, Pokemon Go)
- Business Innovation (crowdfunding, open innovation)
Waterfall Characteristics
- Organized
- Rigid
- Specific Steps
- Must complete one phase before moving onto next
- Large functional teams that specialize in one area
- Months-Years
Agile Characteristics
- Not rigid
- Relies on cross-functional small teams
- Release a new product every couple of weeks
- Release software first, work out kinks later
When should companies pursue building software?
- If better software can provide a competitive advantage relative to your competitors
- If you are building a large business that can spread the cost of a proprietary system over a large number of clients
Why is building sometimes better than buying?
- Off-shelf software can not meet every specialized need
- Canned solutions are rigid and hard to change
- Off-shelf software not always compatible with all programs
Why is buying sometimes better than building?
- Great software available
- Saves time, money, resources
- Technology would not be a competitive advantage
How can custom software help scale your company?
- Increased productivity
- Competitive advantage
- Faster reaction time
