Topic 1 and 2 Vocabulary Flashcards
Application
(apps) is a computer program designed to carry out a specific task (email, search, customer order)
Computer Science
Research and development of technologies such as algorithms, computation, hardware, communication and information theory, used in the building of hardware and software.
Digital Asset
Content which has been digitized and can be referenced or retrieved online, (sales, employee experience, vendors).
Digital Transformation
Involves integrating digital technologies and solutions into functional area of a business. This is as much a cultural change as a technological one as it requires organizations to make fundamental shifts in the ways they operate and how they deliver customer experiences and benefits.
Disruptive technology
New technology that displaces an existing one.
Enterprise
A unit of economic organization or activity. (business, government agency, educational institution, non-profit organization).
Functions
The activities carried out by an enterprise; they can be divided into core functions and support functions. The primary functions are: marketing & sales, finance & accounting, operations, supply chain, human resources, research & development.
Functional Users
Individuals who carry out specific functions within an enterprise, (payroll, customer service, accounts payable).
Hardware
The physical components of a computer including the keyboard, monitor, disk drive, and internal chips and wiring. Hardware is the counterpart of software.
Information Technology
(IT) The use of computers to create, process, store, retrieve, and exchange all kinds of data. IT is typically used within the context of business operations.
Management Information Systems
(MIS) is an information system used for decision-making, and for the coordination, control, analysis, and visualization of information in an organization. The study of the management information systems involves people, processes, and technology in an organizational context.
Software
Any program (application) that performs a specific function. Examples: word processing, spreadsheet calculations, email.
Agile
refers to the idea of iterative development, where requirements and solutions evolve through collaboration between self-organizing cross-functional teams.
Artificial Intelligence
use of machines to mimic human intelligence to perform tasks.
Business Case or Use Case
is a technique used to identify the requirements of a system (normally associated with software/process design) the data and users.
Competitive Advantage
is the attribute that allows an organization to outperform its competitors.
Democratization of Technology
refers to the process by which access to technology rapidly continues to become more accessible to more people.
Domain
a specific area of technology where research, development, and innovation take place.
Early Adopter
an early adopter is an early customer / user of a given company, product, or technology.
End User
is a person who ultimately uses or is intended to ultimately use a product, service, software, device.
Digital Framework/Strategy
is the approach to remodeling the enterprise to incorporate digital technology to achieve greater efficiencies and collaboration to improving delivery speed and customer satisfaction.
Ideation
is the creative process of generating, developing, and communicating new ideas.
Income Statement
(top and bottom line) - is one of the primary financial statements and shows the company’s revenues / sales (top) and expenses (bottom) during a particular period.
Strategic vs Operational
corporate strategy involves answering a key question from a portfolio perspective: “What business should we be in?”. Operational strategy involves answering the question: “How shall we compete in this business?
