Business Information Systems

Flashcards covering key concepts in Business Information Systems, including data, information, knowledge, information systems, strategic objectives, digital transformation, cloud computing, IoT, blockchain, and AI.

Data

Raw unorganised facts or observations, e.g. symbols, numbers, words.

Information

Data that have been processed and interpreted to be meaningful and valuable to the recipient.

Knowledge

Data or information processed to convey understanding, experience, and expertise as they apply to a current problem or activity.

Information System

A group of interrelated components that work collectively to carry out input, processing, output, storage and control actions to convert data into information products.

Strategic Business Objectives of Information Systems

Includes operational excellence, new products, services, customer intimacy, improved decision making, competitive advantage, survival, and governance leadership.

Digital Transformation

The effective exploitation of digital technology to radically improve the performance of an organisation.

Cloud Computing

A model providing access to a shared pool of computing resources over a network on an ‘as needed’ basis.

Internet of Things (IoT)

A network of intelligent physical devices embedded with sensors, software, and other technologies to connect and exchange data.

Blockchain

A distributed ledger system that stores secure and tamper-proof records of transactions across a network of computers.

Artificial Intelligence (AI)

The effort to develop computer-based systems that can think and behave like humans.