Week 3 Flashcards
3 computing components
1) processor
2) storage
3) networking
Computing Component: Processor
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)
Computing Component: Storage
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
Computing Component: Networking
Networking: optical fiber line - high-speed glass or plastic lined networking cable used in telecommunications
Moore’s Law
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”
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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
The Evolving Waves of Computing
1960s - mainframe computers
1970s - minicomputers
1980s - PCs
1990s - internet computing
2000s - smartphone revolution
current - pervasive computing
Pervasive computing
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
software
software - set of instructions that tell hardware WHAT to do
application software
application software performs the work that users and firms are directly interested in accomplishing on a range of hardware devices
operating systems
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
enterprise resource planning
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
What are some other categories of ERP
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
Database Management System (DBMS)
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
Name some ERP Benefits
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
Distributed Computing
Distributed Computing - systems in different locations communicate and contribute/collaborate to complete a task
ex. the web = client service model
Server
Server - program that fulfills the client requests
- hardware context: computer configured to support requests from other computers
- software context: program that fulfills requests
Client
Client - software program that makes requests of a server program
Web Services
Web Services - small pieces of code accessed via the application server that permit machine-to-machine interaction over network
Application Programming Interface (APIs)
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
Benefits of APIs for Partners and for Company
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
Describe the components of customer experience
Context: what is consumed
- information
- product
Experience: how is it packaged
- customer experience
Platform: how is it delivered
- internal
- external
Data Asset Benefits
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
Flash Memory
Flash Memory - non-volatile chip based storage (used in phones) - holds data even when power is off
Solid State Electronics
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
