Chapter 1-2: CIS

Moore's Law

states that the number of transistors per square inch on an integrated chip doubles every 12-24 months

Nielsen's Law

states that network connection speeds for high-end users will increase by 50 percent per year

Metcalfe's Law

states that the value of a network is equal to the square of the number of users connected to it

According to Bell's Law, ________ will evolve so quickly they will enable new platforms every 10 years.

digital devices

T/F The Information Age is a period in history where the production distribution, and control of information is the primary driver of the economy.

True

The five components of an information system are:

hardware, software, data, procedures, people

A common description of information

knowledge derived from data

determines the structure, features, and functions of an information system used in a company

the competitive strategy

The difference between the value that an activity generates and the cost of the activity is called the

margin

Porter defined value as the

amount of money that a customer is willing to pay for an offering

T/F The streamlining of business processes to increase margin is key to obtaining competitive advantage

True

Describe how Moore's Law, Metcalfe's Law, Nielsen's Law, and Kryder's Law are changing the use of technology

by making computers faster, new technology is putting a higher value on social networks, increasing network speed, and storage capacity. While also becoming cheaper to produce and sell

Define Bell's Law and explain why its consequences are important to business professionals today.

a new computer class forms roughly each decade establishing a new industry, making a simple mistake with business offers can cost your company just from the newest tech being promoted

Explain why you can buy IT, but you can never buy IS. What does this mean to you as a potential future business manager

We can buy IT because it can help businesses to streamline their operations and increase efficiency. We can't buy IS because the risk is too high mainly from lack of knowledge. Last IT change helps grow my business without risk.

Identify the three important phrases in the definition of MIS

Management and use, information systems, and strategies

Name the five components of an information system. While using the five component model, explain the difference between IT and IS

Hardware, software, data, procedures, people. IT has everything to do with tech while IS uses all five components and people are the most important out of all five

Explain why end users need to be involved in the management of information systems

End users can provide feedback on a product or program and can find if something is missing and tell you how well it works. improve communication

Explain how the five components are ordered according to difficult of change and disruption

we use computers on software with data as I'm following the procedure, however, we are the ones that make and control all of the five components

What is information?

knowledge derived from data

difference between data and information

information is knowledge derived from data while data is presented in a meaningful way. Data is raw and unprocessed whereas information is data that has been processed and organized

What are necessary data characteristics? Explain how these data characteristics relate to information quality.

accurate, timely, relevant, just sufficient, and worth its cost. The quality of the information that you can create depends on your thinking skills

How does organizational strategy determine information systems structure?

Organizations examine the structure of their industry and determine a competitive strategy. That strategy determines value chains, business processes, and the design of supporting IS

How does analysis of industry structure determine competitive strategy?

organization can focus on being the cost leader, or can focus on differentiating its products and services from those of the company can employ cost of differentiation strategy across an industry or focus on particular industry segments.

a network of value-creating activities

value chain

as the amount of money that a customer is willing to pay for a resource, product, or service

value

the difference between the value that an activity generates and the cost of the activity

margin

Name the primary and support activities in the value chain and explain the purpose of each

inbound logistics, operations, and manufacturing, outbound logistics, sales and marking, and customer service. Procurement, technology, human resources, and the firm's infrastructure

is defined as information containing patterns, relationship, and trends of various forms of data

business intelligence

T/F: The three primary activities in the business intelligence (BI) process are to acquire data, perform analysis, and publish results.

True

In large organizations, a group of people manage and run a _________, which is a facility for managing an organization's BI data

data warehouse

is a term that refers to the level of detail represented by the data

granularity

is the application of statistical techniques to find patterns and relationships among data for classification and prediction

data mining

is the process of creating value of intellectual capital and sharing that knowledge with employees, manager, suppliers, customers, and others who need it

knowledge management

is a computing system modeled after the human brain that is used to predict values and make classifications

neural network

is the ability of a machine to stimulate human abilities such as vision, communication, recognition, learning, and decision making in order to achieve a goal

AI

is the extraction of knowledge from data based on algorithms created from training data

machine learning

Business Intelligence

Information collected from multiple sources such as suppliers, customers, competitors, partners, and industries that analyzes patterns, trends, and relationships for strategic decision making

BI systems

information systems that process operational and other data to analyze patterns, relationships, and trends for business professionals

Data Warehouse Functions

obtain data, cleanse data, organize and relate data, catalog data

Data Marks

are smaller, that addresses the needs of aprticular department or functionals area of the business

Data Warehouse vs Data Lakes

warehouse is structured, cleaned, historical, operations system and purchased data, and business analysts. Lakes structured & unstructured, raw, mixed, more, and data scientists.

BI Analysis

the process of creating business intelligence

reporting analysis

the process of sorting, grouping, summing, filtering, and formatting structured data

Big Data

data collections characterized by huge volume, rapid velocity, and great variety

MapReduce Processing

technique for harnessing thousands of computers in parallel to process massive amounts of data

Publish Results

the process of delivering business intelligence to the knowledge workers who need it

Machine Learning

the extraction of knowledge from data based on algorithms created from training data

Deep Learning

technique to simulating multiple layers of neural networks to extract progressively higher-level featured data

Large Language Models

deep learning algorithms that can recognize, summarize, and translate, predict, and generate content using very large datasets

Weak or Narrow AI

is focused on completing a specific specialized task

Strong AI, or artificial general intelligence (AGI)

can complete all the same tasks a human can

Superintelligence

more advanced than human intelligence

Data Aquisition

the process of obtaining, cleaning, organizing, relating, and cataloging source data

Digital Revolution

the conversion from mechanical and analog devices to digital devices

Information Technology (IT)

Hardware, software, and data things you can buy, rent, and sell

Information System

assembly of hardware, software, data, procedures, and people that produces information

Actors are the

Hardware and People

Instructions are the

software and procedures

Bridge is the

data

Data Quality Characteristics

accurate, timely, sufficient, relevant, cost effecitve

first-mover advantage

gain market share by being the first to develop a new technology in a market segment

second mover advantage

gain market share by following a pioneering company and imitating its product or service