Week 6 - Role Of Information Systems In Business Flashcards
What are the 5 steps for decision making in terms of information systems?
1 - Identify the problem 2 - Develop alternative solutions 3 - Selection, select the best alternative 4 - Implementation 5 - Evaluation of implementation
What are the 3 different scopes when thinking about decision scopes?
1 - Strategic(organisations long term goals, senior management)
2 - Tactical (Deploying resources - middle managers)
3 - Operational (Day to day decisions, e.g. Can we give a loan to this customer?)
What is the decision degree of structure?
It’s how well defined the steps to reach a decisions are. There are unstructured and structured degrees of decision making
Structure versus Scope relationship
Operational decisions tend to be structured
Strategic decisions decisions tend to be unstructured
Tactical are somewhere in the middle
What’s the most important part of a decision making system?
People - People will be reviewing them and, ultimately, people will be responsible for the outcomes (no matter if the decision comes from an algorithm)
What’s business intelligence?
Information about suppliers, customers, the regulatory environment and information about your own organisation
What are things to note about a decisions support system?
They’re used by management, sporadically used, impacts of single use may be high and the used of a DSS does not change the database, it’s read only
What are somethings to note about Transaction processing systems?
They’re used at the operational level, used frequently, impacts of single use usually low, the use of TPS results in additions to the database
What’s a database warehouse?
An information system used to store data from one or more operational databases. They’re usually subject orientated and allows for users to tap into a company’s operational data to track and respond to business trends and facilitate forecasting and planning efforts
What’s a data warehouse?
A data warehouse records summarised information from many operational databases
Data is pulled. Periodically and aggregated (bundled together to make a mini database)
What is On-Line Analytical processing?
Driven directly by people (you interact with the data warehouse directly, answer questions such as “which products sell well?”)
What is Data Mining?
Automated (algorithms running in the backgrounds to segment customers into groups)
What is predictive analysis?
Applying historical data to predict the future
