Tim Olson IDSC Quiz 1

Vocabulary flashcards covering key terms from Page 1 and Page 2 of the lecture notes.

Application

Computer software designed to carry out a specific task (e.g., email, search, customer orders).

Computer Science

Research and development of technologies such as algorithms, computation, hardware, communication, and information theory used in building hardware and software.

Digital Asset

Content that has been digitized and can be referenced or retrieved online (e.g., for sales, employee experience, vendors).

Digital Transformation

Integrating digital technologies into functional areas of a business, involving cultural change and shifts in operations and customer experiences.

Disruptive Technology

New technology that displaces an existing one.

Enterprise

A unit of economic organization or activity (business, government agency, educational institution, nonprofit).

Functions

Activities carried out by an enterprise; divided into core functions and support functions (core: marketing & sales, finance & accounting, operations, supply chain, human resources, research & development).

Functional Users

Individuals who carry out specific functions within an enterprise (e.g., human resources, finance, accounting, marketing and sales, operations).

Hardware

The physical components of a computer (keyboard, monitor, disk drive, internal chips and wiring); hardware is the counterpart of software.

Information Technology

The use of computers to create, process, store, retrieve, and exchange data; typically used within business operations.

Management Information Systems

An information system used for decision-making, coordination, control, analysis, and visualization of information; involves people, processes, and technology in an organizational context.

Software

Any program (application) that performs a specific function (e.g., word processing, spreadsheet calculations, email).

Agile

Iterative development in which requirements and solutions evolve through collaboration of self-organizing, cross-functional teams.

Artificial Intelligence

Computer systems able to perform tasks that normally require humans.

Competitive Advantage

The ability of an organization to outperform its competitors.

Democratization of Technology

The process by which access to technology becomes more accessible to more people.

Domain

A specific area of technology where research, development, and innovation take place.

Early Adopter

An early customer or user of a given company, product, or technology.

End User

A person who ultimately uses or is intended to use a product, service, software, or device.

Digital Framework / Strategy

The approach to remodeling the enterprise to incorporate digital technology to achieve greater efficiencies, collaboration, delivery speed, and customer satisfaction.

Ideation

The creative process of generating, developing, and communicating new ideas.

Income Statement

One of the primary financial statements showing revenues (top line) and expenses (bottom line) during a period.

Strategic vs Operational

Strategic asks what business the organization should be in; Operational asks how to compete in that business.