MIS 3000

Core Competency

an activity for which a firm is an industry best-in-class leader

Business Model

describes how a company produces, delivers, and sells a product or service to create wealth

Packet switching

Method of slicing digital messages into parcels (packets), sending packets along different communication paths as they become available, and then reassembling packets at destination

Transmission Control Protocol/Internet Protocol

TCP/IP - common worldwide standard that is basis for the internet

TCP/IP Address Requirements

Each host on a subnetwork must have a unique global internet address

Each process with a host must have an address (known as a port) that is unique within the host

Client and server computers

ch 6 - add this for sure

OLAP

online analytical processing; Supports multidimensional data analysis, enabling users to view the same data in different ways using multiple dimensions (each aspect of information like product, pricing, cost, etc)

Four major business functions

Manufacturing and Production

Sales and Marketing

Finance and Accounting

Human Resources 

Transaction Processing Systems

focuses on day-to-day operations of a business including managing sales, payroll, and receipts; MIS also summarize and report on basic operations using this data

Business process

a logically related set of activities that defines how specific business tasks are performed

Firm’s environment

competitors, customers, suppliers, and stockholders

Digital Dashboard

examining a map that depicts different colors based on network performance (example of)

Model-driven Decision Support systems (DSS)

help firms model alternative inventory stocking levels, production schedules, or transportation plans; serves middle level managers

Three dimensions of Information systems

People, Technology, and Organization

Four steps of problem solving

problem identification, solution design, choice, and implementation

Activities in IS that produce information

input, processing, output, and feedback

Data

streams of raw facts and figures

Business objectives with IT investments

Operational excellence, new products and services, customer and supplier intimacy, improved decision making, competitive advantage, and survival

3 main categories of business problems

organization, people, technology

Information is NOT an input to an information system

Information is NOT an input to an information system

Enterprise Resource Planning (ERP)

a type of enterprise application that integrates data from key business processes into single system that everyone has access to for higher communication speeds

Enterprise applications

systems that span functional areas, focus on executing business processes across the firm, and include all levels of management; 4 types - ERP, knowledge management systems, CRM systems, and supply chain management systems

Knowledge management systems

Links to external and relevant sources of knowledge wherever needed in the enterprise to improve business processes and management decisions

CRM systems

Coordinate business processes that deal with customers in sales, marketing, and customer service

Supply chain management systems

Manage relationships with suppliers, purchasing firms, distributors, and logistic companies and the shared information across them

Analytical CRM

a type of enterprise software that analyzes customer lifetime value (CLTV)

Upstream supply chain

Tier 1 (last in upstream), tier 2 (supplies necessary bits and pieces to tier 1 for them to make a final product), and tier 3 suppliers (supplies necessary products for tier 2 for them to make bits and pieces)

Downstream supply chain

the company to distributor to retailer to customer

Bullwhip effect

caused by distortion of information about the demand for a product as it passes from one entity to the next across the supply chain

Pull-based method

demand-driven; making what sells

Push-based model

build-to-stock; selling what they make

Supply chain planning systems

help a firm analyze, model, and optimize its supply chain

Stages of decision-making process

Intelligence, Design, Choice, Implementation

Intelligence Stage

discovering, identifying, and understanding the problems occurring in the organization

Design stage

identifying and exploring various solutions

Choice stage

choosing among solution alternatives

Implementation stage

making chosen alternative work and monitoring how well solution is working

Business Intelligence

a term hardware and software vendors and IT consultants use to describe the infrastructure for warehousing, integrating, reporting, and analyzing data that come from the business environment

Parameterized reports

allow users to enter several variables to produce a decision-making report

Predictive analytics

used by companies to determine the impact of price changes on sales

Geographic Information Systems

Tie location data about resources to map

Balanced scorecard method

Framework for operationalizing a firm’s strategic plan by focusing on this measurable outcome of four dimensions of firm’s performance; more than just on one aspect and not just the past but also the present (balancing it all); KPIs used

Artificial intelligence techniques

neural networks, expert systems, and genetic algorithms