Cloud Computing, Big Data, Mobile Digital Technologies
100
Businesses seek Operational Excellence to:
Improve efficiency results in higher profits; Information Systems and Technologies help improve efficiency and productivity
100
Business seek Competitive Advantage to:
have Advantages over competitors by charging less for superior products, better performance, and better response to suppliers and customers; Achieve first 4 of 6 business objectives.
100
Define Information System (IS)
An interrelated set of COMPONENTS or resources that collect/retrieve, process, store, and distribute information in an organization
100
Characteristics of good QUALITY information are:
Accurate, Complete, Relevant, and Timely
(Think CART, you want a quality cart of information)
200
What Management is new in MIS?
Managers use social networks and collaboration, Business Intelligence applications accelerate, Virtual meetings proliferate
200
Businesses seek New Products, Services, and Business Models to:
have IS and technologies enable firms to create new products, services, and business models
200
Business seek Survival by:
1) Investing in IS out of necessity, 2) Simplify cost of doing business by a) Keeping up with competitors, b) comply with Federal and State regulations and reporting requirements (TSC Act, SO Act & HIPAA)
200
What does an IS do?
Transform or process DATA into INFORMATION for specific uses in a organization through a set of ACTIVITIES
200
What are the three dimensions of IS and what do they provide?
Technology, Organization, People (TOP). They provide a solution to important business problems facing the firm.
300
What Organizations are new in MIS?
Social Business, Telework gains momentum, Co-creation of value, collaboration across firms
300
Define Business Model:
How a company produces, delivers, and sells its products and services
300
Which Business Functions (departments) receive the greatest benefits from IS?
Raw facts that describe the characteristics of an event, the raw input for entry into an IS. It is usually referred to as INPUT and can be represented in various formats such as alphanumeric, image, audio and video. Ex. # of hours worked, items sold or names of customers
300
The Foundation or Platform that the IS is built on is?
Technology
400
Internet Global Communications have greatly reduced economic and cultural advantages of developed countries by
Drastic reduction of operating costs and transacting on a global scale; Competition for jobs, markets, resources & ideas; Dependence on imports/exports; Requires new understanding of skills, markets, & oppertunities
400
Businesses seek Customer and Supplier Intimacy to:
Have customers who are served well to become repeat customers who purchase more; Have close relationships with suppliers which result in lower costs
400
What are the IT impacts/advantages for business?
1) Reduce costs and improve productivity, 2) Improve customer satisfaction and loyalty, 3) Create a competitive advantage, 4) Streamlines supply chain, 5) Generate growth and global expansion
400
What is Information (aka Output)?
A collection of data that has been organized in such a way that they have value beyond the facts themselves. This data has been processed, interpreted or formatted and then converted into a meaningful and useful context
400
The IS Technology is built upon four pillars, which are?
Computer Hardware (HW), Computer Software (SW), Data Management Technology, Network and Telecommunications Technology
500
Businesses invest in IT to achieve six important business objectives:
help managers NOT rely only on forecasts, best guesses, and luck, to they will mis-allocate employees, services, and inventory; Help managers with real-time data to improve managers ability to make decsions
500
Define Information Technology (IT)?
The Hardware and Software a business uses to achieve objectives
500
Business decisions and outcomes are only as good as the _________ of the information that is being used.
Quality
500
The IS Technology components which includes processors, input/output and storage devices is?