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SBL > Technology and Data Analytics - Course Notes > Flashcards

Technology and Data Analytics - Course Notes Flashcards

1
Q

When asked for the exploitation of new technologies, with regards to benefits and opportunities, what do you do?

A
  • New technologies
  • Big Data
  • Strategic implications
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2
Q

With regards to new technologies, name the 7 benefits

A
  1. Cloud computing
  2. Flexibility
  3. Disaster recovery
  4. Ability to collaborate
  5. Security
  6. Environmental friendliness
  7. Competitiveness
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3
Q

Why is cloud computing a benefit?

A

Reduces need to invest in and maintain significant infrastructure

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4
Q

Why is flexibility a benefit?

A

As a result of not having to invest in hardware, IT needs can be flexed more easily to what is needed at the time

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5
Q

Why is disaster recovery a benefit?

A

Information is stored in the cloud

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6
Q

Why is the ability to collaborate a benefit?

A

When using the cloud, individuals all over the world can contribute to the same document rather than running parallel versions leading to greater errors

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7
Q

Why is security a benefit?

A

Document is accessed by everyone from the same remote place, reducing chances of loss of physical data in transit

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8
Q

Why is environmental friendliness a benefit?

A

This links with flexibility as lack of individual infrastructure reduces carbon footprint and the energy used fluctuates with the actual needs of the current time

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9
Q

Why is competitiveness a benefit?

A

Use of the cloud can give small business advantages enabling them to compete with bigger businesses

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10
Q

Why is mobile technology a benefit?

A

Allows access anytime, anywhere from a range of devices - not tied to a physical location

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11
Q

What are Hadoop clusters used for?

A

Store and manage data so that it can be used by companies as a competitive advantage

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12
Q

What are Hadoop clusters?

A

Special type of software which stores and analyses huge amounts of unstructured data

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13
Q

How is big data described?

A

Using the 4Vs

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14
Q

What are the 4Vs for Big Data?

A

Volume
Variety
Velocity
Veracity

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15
Q

What is volume for the 4Vs?

A

The amount

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16
Q

What is variety for the 4Vs?

A

The sources

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17
Q

What is velocity for the 4Vs?

A

Speed at which it changes

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18
Q

What is veracity for the 4Vs?

A

The truthfulness

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19
Q

Name the strategic implications for big data?

A
  1. More transparent and more accessible
  2. Minimise risk
  3. Segmentation and customisation
  4. Better decisions
  5. Develop future products
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20
Q

Explain the strategic implication of big data being more transparent and more accessible?

A

More viable to predict trends, analyse customer behaviour, understand what customers want and provide it to them

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21
Q

Explain the strategic implication of big data minimising risk?

A

Testing scenarios through knowledge of variables

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22
Q

Explain the strategic implication of segmentation and customisation?

A

Predictive analytics are used by most large retailers to record customer shopping habits in order to target products more effectively.

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23
Q

Explain the strategic implication of better decisions?

A

Revealing new insights into customer thinking and product usage.

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24
Q

Explain the strategic implication of developing new products?

A

Faster time to market

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25
Q

How does big data lead to a significant reduction in costs?

A

Enabling operational efficiencies improvements, there is large scope for competitive advantage

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26
Q

is big data only relevant to commercial organisations?

A

No

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27
Q

What does data analytical activity have to be?

A

Measured - cost v benefit

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28
Q

What must a company comply with for big data?

A

GDPR

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29
Q

What are the types of tasks could you be asked for technology and data analytics?

A
  1. Evaluate how new technologies could benefit
  2. Identify risks associated with technological benefits
  3. Analyse how investing in e-marketing could benefit
  4. Advise the board about key issues relating to e-business
  5. Assessment of security arrangements and recommendations
  6. Benefits and costs of investing in big data and evaluating a possible identified opportunity
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30
Q

What are the principles of an e-business?

A

It can contribute to the sustaining or the creation of competitive advantage

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31
Q

What are the barriers to adoption of an e-business?

A
  • Staff do not have the required skills and knowledge
  • Customers do not use e-business
  • Costs of implementation
  • Security, including confidentiality and fraud
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32
Q

What is disintermediation?

A

Removal of intermediaries in a supply chain that formerly linked a company to its customers

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33
Q

What is reintermediation?

A

Establishment of new intermediary roles for traditional intermediaries that were disintermediated.

  • Provide customers with new, important value added services not provided in the new direct customer supplier relationship
  • Provide customers with more efficient means of transacting business
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34
Q

What is coutermediation?

A

Creation of a new intermediary by an established company in order to compete via e business with establish intermediaries

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35
Q

What nine generic business models for e-commerce did Rappa classify?

A
  1. Brockerage
  2. Advertising
  3. Informediary
  4. Merchant
  5. Manufacturer
  6. Affiliate
  7. Community
  8. Subscription
  9. Utility
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36
Q

Explain the Rappa brockerage model?

A

Those that bring buyers and sellers together and facilitate transactions (often fee based)

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37
Q

Explain the Rappa Advertising model?

A

Supported by advertising revenue, a Web site will provide content and services together with advertising

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38
Q

Explain the Rappa Informediary model?

A

Collecting data about consumers and their purchasing habits and selling this information to other businesses

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39
Q

Explain the Rappa Merchant model?

A

Selling of goods and services on the traditional retail model

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40
Q

Explain the Rappa Manufacturer model?

A

Direct selling by the creator of a product or service to consumers, cutting out intermediaries.

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41
Q

Explain the Rappa Affiliate model?

A

Offering financial incentives to affiliated partner sites

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42
Q

Explain the Rappa Community model

A

Where users themselves invest in a site

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43
Q

Explain the Rappa Subscription model

A

When users pay for access to the site, usually for high added value content

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44
Q

Explain the Rappa Utility model

A

A model based on metered usage or pay as you go

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45
Q

Explain the internet

A

Enables computers across the world to communicate via telecommunication links

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46
Q

Explain a website

A

Collection of screens providing information in text and graphic form

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47
Q

Explain the World Wide Web

A

A navigation system within the Internet

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48
Q

Explain the Web Browser

A

Interpret and display hypertext documents and locates documents pointed to by the links

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49
Q

Explain the Intranet

A

An internal network used to share information. Utilises internet technology and protocols.The firewall surrounding an intranet fends off unauthorised access

50
Q

Explain a firewall

A

A security device that effectively isolates the sensitive parts of an organisation’s system from those areas available to external users. It examines all requests and blocks any not conforming to criteria.

51
Q

Explain extranets

A

Web based but serves a combination of users.

52
Q

Explain servers

A

Machines that provide services to other machines on the internet.

53
Q

Explains internet protocol (IP)

A

Each machine is assigned a unique address

54
Q

Explain Enterprise Resource Planning System **

A

An integrated computer system used to manage internal and external resources including tangible assets, financial resources, materials and human resources.

It integrates the variosu business functions into one system and is usually undertaken centrally by information management specialists.

This data would be held in a data warehouse from which customised reports can be produced on a real time basis

55
Q

How can information system requirements be collected?

A 
Interviews
Questionnaires
Observation
Protocol analysis
Workshops
Prototyping
56
Q

What are 4 advantages of using a generic software solution?

A

Relatively cheap
Quick to install
Proven tested product
Maintenance support

57
Q

What are 3 disadvantages of using a generic software solution?

A

May not perform the required tasks
Lack flexibility
Unlikely to provide a competitive advantage

58
Q

What are the 10 high level categories of requirement suggested by Skidmore and Eva?

A 
1 - Functional
2 - Supplier citizenship
3 - Non functional
4 - Initial implementation
5 - Technical
6 - Operability
7 - Design
8 - Cost contraints
9 - Supplier stability
10 - Time constraints
59
Q

What is the functional requirement?

A

What software needs to do to add value to business processes?

60
Q

What is the non functional requirement?

A

Compliance of accounting software with GAAP

61
Q

What is the operability requirement?

A

Ongoing support and upgrades offered

62
Q

What is the supplier stability requirement?

A

Reputation, track record, dispute solving

63
Q

When selecting and implementing generic software, what five stage approach is recommended?

A
  1. Obtain tenders
  2. First pass selection
  3. Second pass selection
  4. Implementation
  5. Long term relationship
64
Q

Describe obtain tenders

A

Which suppliers? Clarifying assessment criterion

65
Q

Describe first pass selection

A

Short list tenders v assessment criterion

66
Q

Describe second pass selection

A

in depth assessment to identify best supplier AND best software

67
Q

Describe implementation

A

Documentation, training, file conversion, testing

68
Q

Describe long term relationship

A

On going with supplier

69
Q

What is CRM split into?

A
  1. Acquisition of new customers
  2. Retention of customers by enticing them to repurchase
  3. Extension of the range of products/services sold to customers
70
Q

What are the 8 methods of acquiring and retaining customers?

A
  1. Search engine registration and directories
  2. Newsgroups and forums
  3. Newsletters
  4. Link building and partnership campaigns
  5. Viral marketing
  6. Banner advertising
  7. Email marketing
  8. Customer database management system
71
Q

Explain the search engine registration and directories method

A

Skilled website design can put a supplier high among search results

72
Q

Explain the newsgroups and forums method

A

Expert opinions and useful help are a way for businesses to communicate with their peers and customers

73
Q

Explain newsletters method

A

Allow an organisation to send news - key to retaining customers

74
Q

Explain link building and partnership campaigns method

A

Significantly boost online presence. Reciprocal links are an exchange for links between two site owners. Affiliate networks are based on paying commission on sales referred from other sites

75
Q

Explain viral marketing method

A

Creating a buzz. Relies on word of mouth and getting people to share it. As well as aiding with customer acquisition and retention, great way of launching new products

76
Q

Explain banner advertising method

A

Graphical strips commonly seen on the top of website pages. The organisation could pay by impression, click or action

77
Q

Explain email marketing

A

Single largest shift in the way humans communicate

78
Q

Explain customer database management system

A

Helps a business engage more effectively with its customer base

79
Q

What are the 6Is of e-marketing?

A 
Interactivity
Intelligence
Individualisation
Integration
Industry structure
Independence of location
80
Q

What is the impact of e-marketing on Product?

A

Augmented product can be extended through web information and interactively. However product description needs to be clear as the customer cannot see or touch it

81
Q

What is the impact of e-marketing on Promotion?

A

Can be targeted using customer databases - more tailored

82
Q

What is the impact of e-marketing on Price?

A

Can be changed very quickly in relation to variation in demand

83
Q

What is the impact of e-marketing on Place?

A

The internet offers global reach

84
Q

What is the impact of e-marketing on People?

A

Can be replaced with interactive software

85
Q

What is the impact of e-marketing on Processes?

A

Can be automated

86
Q

What is the impact of e-marketing on Physical evidence?

A

Includes responsiveness to email enquiries and the website

87
Q

What is e-procurement?

A

Buying from suppliers online

88
Q

What are the 5 ranges of models for e-procurement?

A
  1. Public web
  2. Exchange
  3. Supplier centric
  4. B2B Marketplace
  5. Buyer centric
89
Q

Explain public web

A

Individual buyers find individual suppliers and make a purchase (Google)

90
Q

Explain Exchange

A

Suppliers and Buyers trade through a third party marketplace (Amazon)

91
Q

Explain Supplier Centric

A

An individual supplier gives access to buying organisations from a pre-negotiated product range. There is a contractual relationship.

92
Q

Explain B2B marketplace

A

An independent third party has agreements with a number of buying and supplying organisations. Both are bound with agreements.

93
Q

Explain buyer centric

A

Individual companies have contracts with a number of different suppliers. The catalogue and ordering system are maintained within the buying organisation.

94
Q

Wat are the 5 benefits of e-procurement

A 
Cost reduction
Reduced inventory levels
Greater control
Wider choice of supplier
Improved manufacturing cycles
95
Q

What are the 4 risks of e-procurement?

A

Unauthorised purchases
Systems failure
Data security
Reduced management spending control

96
Q

What is the e-business push model?

A

Organisations producing goods based on historic sales patterns

97
Q

What is the e-business pull model?

A

Production and distribution are demand driven based on consumer requests (JIT)

98
Q

What is e-branding?

A

Branding online and ensuring customers identify their product

99
Q

What is the danger of e-branding?

A

Risk of information overload

100
Q

What could companies also do with regards to e-branding?

A

Develop brand alliances

101
Q

What do you need for systems development and implementation?

A

Steering Committee

102
Q

What does the steering committee ensure?

A

System is installed and meets the needs of the business

103
Q

What does the Steering committee bring together?

A
  1. Project sponsor
  2. Project manager
  3. Specialist IT Staff
  4. Finance Director
  5. Senior management user/user group
104
Q

What is the role of the Project Sponsor on the Steering Committee?

A

Identifying the business need, approving budget

105
Q

What is the role of the Project Manager on the Steering Committee?

A

Responsible for day to day delivery

106
Q

What is the role of the Specialist IT Staff on the Steering Committee?

A

What technology is needed and what is viable

107
Q

What is the role of the Finance Director on the Steering Committee?

A

Cost v benefit

108
Q

What is the role of the Senior management user on the Steering Committee?

A

System does what is needed

109
Q

What could the company use after creating a Steering Committee?

A

Systems Development Life Cycle

110
Q

What is the acronym for the SDLC?

A

PADDIM

111
Q

What are the 6 steps for the SDLC?

A 
Planning/Feasibility Study
Systems Analysis
Systems Design
Systems Development
Implementation
Maintenance
112
Q

What is the planning/feasibility study?

A

Identify needs and objectives of the system by identifying current problems and feasibility of solution

113
Q

What is the systems analysis?

A

Ranks the available systems and determines whether it should be in house or outsourced

114
Q

What is Systems Design?

A

Describes design features in detail

115
Q

What is Systems Development?

A

Changes to the new system documented carefully. The system should be tested and users should be given necessary training

116
Q

What is Implementation?

A

Via parallel running/ director changeover

System should be tested

117
Q

What is Maintenance?

A

Post implementation review - correction or enhancement.

Check it meets the needs of managers, is secure and produces accurate information

118
Q

What are application controls?

A

Manual or automated processes aim to ensure transactions are complete, accurate and valid

119
Q

Give 5 examples of application controls

A
  1. Mandatory fields
  2. Arithmetical accuracy
  3. Range/limit checks
  4. Edit checks of input data
  5. Numerical sequence checks
120
Q

Give 9 examples of general IT controls

A
  1. Password
  2. Physical
  3. Personnel - training/supervision
  4. Environmental - fire detectors
  5. Contingency - disaster recovery
  6. Regular backups
  7. Virus protection
  8. Firewall
  9. Spyware
121
Q

What is a disaster recovery plan?

A

How to deal with a situation where a significant part of operations breakdown as a result of an unpredictable event.

The aim is to limit damage and aid business continuity

122
Q

What should the disaster recovery plan set out?

A
  1. Responsibilities
  2. Priorities
  3. Back up and standby arrangements
  4. Communication and PR

SBL (16 decks)

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