MIS Concepts Chapter #1 - Bidgoli chapter 1, MindTap Internet and Computer Essentials

Business intelligence (BI)

provides historical, current, and predictive views of business operations and environments and gives organizations a competitive advantage in the marketplace.

Data

consists of raw facts and is a component of an information system.

database

is a collection of all relevant data organized in a series of integrated files.

Five Forces Model

analyzes an organization, its position in the marketplace, and how information systems could be used to make it more competitive. The five forces include buyer power, supplier power, threat of substitute products or services, threat of new entrants, and rivalry among existing competitors.

Information

consists of facts that have been analyzed by the process component and is an output of an information system.

Information technologies

support information systems and use the Internet, computer networks, database systems, POS systems, and radio-frequency-identification (RFID) tags.

management information system (MIS)

is an organized integration of hardware and software technologies, data, processes, and human elements designed to produce timely, integrated, relevant, accurate, and useful information for decision-making purposes.

process

component of an information system generates the most useful type of information for decision making, including transaction-processing reports and models

Transaction-processing systems (TPS)

focus on data collection and processing; the major reason for using them is cost reduction.

Aggrivated data

useful for reporting overall performance during a sales quarter

Disaggregated data

helps analyze sales by product, territory, or salesperson