Week 3

Question 1

3 computing components

Answer 1

1) processor
2) storage
3) networking

Question 2

Computing Component: Processor

Answer 2

Processor; microprocessor - part of the computer that executes the instructions of a computer program it is the devices BRAIN (ex. allows computer to run Google Chrome)

Question 3

Computing Component: Storage

Answer 3

Random Access Memory (RAM): fast, chip-based volatile storage which is wiped clean when power is cut off to device (volatile memory, temporary storage)

Nonvolatile Memory: storage that retains data even when the computer is powered down

Question 4

Computing Component: Networking

Answer 4

Networking: optical fiber line - high-speed glass or plastic lined networking cable used in telecommunications

Question 5

Moore’s Law

Answer 5

Moore’s Law - chip performance per dollar doubles every 18 months. “Chips today should be 1/2 the cost in 18 months & twice as fast”
‘
Prediction of future events based on past predictions

Moore’s law is possible because the distance between the pathways inside silicon chips gets smaller with each successive generation

Question 6

The Evolving Waves of Computing

Answer 6

1960s - mainframe computers
1970s - minicomputers
1980s - PCs
1990s - internet computing
2000s - smartphone revolution
current - pervasive computing

Question 7

Pervasive computing

Answer 7

Pervasive computing involves embedding intelligence and communications in all sorts of devices
ex. Nest thermostat with motion and temperature sensors or smart billboards and license plates

Question 8

software

Answer 8

software - set of instructions that tell hardware WHAT to do

Question 9

application software

Answer 9

application software performs the work that users and firms are directly interested in accomplishing on a range of hardware devices

Question 10

operating systems

Answer 10

operating systems provide a common set of controls for managing computer hardware
- makes it easier for users to interact with computers (GUI) and for programmers to write application software

Question 11

enterprise resource planning

Answer 11

Enterprise resource planning (ERP) software has multiple models that CAN integrate many functions of a business:
- sales ex. order for a product
- inventory ex. check available inventory
- order tracking
- decision support
-manufacturing
- purchasing
- human resources

Question 12

What are some other categories of ERP

Answer 12

Other categories of enterprise resource planning (ERP):

Customer Resource Management (CRM) - supports customer related sales & marketing activities

Supply Chain Management (SCM) - helps manage aspects of the value chain through delivery of finished products/services at the point of consumption

Business Intelligence Systems (BI) - use data centered/created by other systems to provide reporting and analysis for decision making

Question 13

Database Management System (DBMS)

Answer 13

Database Management System (DBMS) - the data layer: DBMS creates, maintains, and manipulates data, storing, and retrieving data created and used by enterprise applications

Firms with common data base systems and standards are best positioned to benefit from data analytic procedures

Question 14

Name some ERP Benefits

Answer 14

Some Enterprise Resource Planning benefits are:
- save and turbocharge organizations
- stream line processes, make data more usable, easy system integration across firm and key partners
- more attractive acquisition targets + realize benefits

Question 15

Distributed Computing

Answer 15

Distributed Computing - systems in different locations communicate and contribute/collaborate to complete a task

ex. the web = client service model

Question 16

Server

Answer 16

Server - program that fulfills the client requests
- hardware context: computer configured to support requests from other computers
- software context: program that fulfills requests

Question 17

Client

Answer 17

Client - software program that makes requests of a server program

Question 18

Web Services

Answer 18

Web Services - small pieces of code accessed via the application server that permit machine-to-machine interaction over network

Question 19

Application Programming Interface (APIs)

Answer 19

Application Programming Interface (APIs) - programming hooks/guides published by firms that tell other programs how to get a service to perform a task (ex. send or recieve data)

ex. Google: APIs that allow other apps + websites to use Google Maps

Expedia: APIs that allow partner sites to book hotels + other travel residences

Question 20

Benefits of APIs for Partners and for Company

Answer 20

Benefits for Partners:
- provide more services to customers
- strengthen brand + customer relationships
- gather additional data
- gain a percentage of additional sales

Benefits for Company:
- sells inventory otherwise would be unsold
- takes percentage of revenue generated ex .$x %
- minimal incremental cost

Question 21

Describe the components of customer experience

Answer 21

Context: what is consumed
- information
- product

Experience: how is it packaged
- customer experience

Platform: how is it delivered
- internal
- external

Question 22

Data Asset Benefits

Answer 22

Data Asset Benefits:
- make accurate reccomendations
- improve personalization and user interface design
- determine appropriate cost for acquiring content
- shape creative decisions
- create ultra-tailored promotions

Question 23

Flash Memory

Answer 23

Flash Memory - non-volatile chip based storage (used in phones) - holds data even when power is off

Question 24

Solid State Electronics

Answer 24

Solid State Electronics - semi-conductor based devices (ex. chips) ; less likely to fail and draws less power (NOT hard drives)

when technology gets CHEAP -> price elasticity kicks in

Tech products are highly elastic

Buy more = product price decreases b/c new markets open up

Question 25

Microcontrollers

Answer 25

Microcontrollers - special purpose computing devices that don’t have an operating system and cant do as much as mobile phones