5.9 Management information systems

What is data analytics?

Data analytics is the process of examining datasets to draw conclusions about the information they contain. It involves using various statistical and computational techniques to analyze data, uncover patterns, and support decision-making.

What is a database?

A structured collection of data that is stored and accessed electronically, typically managed by a database management system (DBMS). Databases allow for efficient data storage, retrieval, and manipulation.

What is cybersecurity?

The practice of protecting systems, networks, and programs from digital attacks or unauthorized access. Cybersecurity involves implementing measures to ensure data integrity, confidentiality, and availability.

Advantages of cybersecurity

Advantages of cybersecurity include protecting sensitive information, ensuring business continuity, and maintaining customer trust by defending against cyber threats and breaches.

Disadvantages of cybersecurity

Disadvantages of cybersecurity include high costs for implementation and maintenance, potential complexity that may hinder user experience, and the possibility of over-reliance on technology that can lead to complacency in security practices.

What is cybercrime?

Cybercrime refers to criminal activities that are conducted through the internet or involve computer systems, including fraud, hacking, and identity theft.

What are critical infrastructures? (including artificial neural networks, data centers, and cloud computing)

Critical infrastructures are essential systems and assets that, if disrupted, would have a serious impact on the security, economy, public health, or safety of a nation. This includes the physical and virtual systems such as power grids, transportation systems, data centers, and cloud computing environments.

What is virtual reality?

Virtual reality is a simulated experience that can mimic or enhance the real world, often achieved through technology such as VR headsets. It immerses users in a computer-generated environment, allowing for interaction and exploration.

Why is virtual reality used in a business?

Virtual reality is used in business to enhance training, improve design processes, and provide immersive customer experiences. It allows companies to visualize products and scenarios in a controlled environment, facilitating better decision-making.

Disadvantages of virtual reality in a business

Disadvantages of virtual reality in a business include high setup costs, potential technical difficulties, and the risk of disorienting users, which may hinder adoption and effective training.

What is the Internet of Things?

The Internet of Things (IoT) refers to the interconnected network of physical devices that communicate and exchange data with each other via the internet. This technology enables remote monitoring and management of devices across various applications, from smart homes to industrial systems.

What is artificial intelligence?

Artificial intelligence (AI) refers to the simulation of human intelligence in machines that are programmed to think and learn like humans. It encompasses various technologies such as machine learning, natural language processing, and robotics, enabling automation and improved decision-making across multiple sectors.

Disadvantages of artificial intelligence in a business

Disadvantages of artificial intelligence in a business include high implementation costs, potential job displacement, ethical concerns regarding decision-making, and the risk of biased algorithms, which can affect fairness and transparency.

What is big data?

Big data refers to the vast volumes of structured and unstructured data generated every second that can be analyzed for insights, trends, and decision-making. It utilizes advanced analytics and technologies to process and harness information from diverse sources.

What are customer loyalty programmes

Customer loyalty programs are marketing strategies designed to encourage repeat business by rewarding customers for their continued patronage. These programs often include incentives such as discounts, points, or exclusive offers.

Advantages of customer loyalty programmes

Disadvantages of customer loyalty programmes

What is digital Taylorism?

Digital Taylorism refers to the application of scientific management principles in the digital era, where work processes are optimized through data analytics and automation, often enhancing productivity but possibly increasing worker surveillance and reducing job satisfaction.

What is data mining?

Data mining is the process of analyzing large datasets to uncover patterns, trends, and insights that can inform business decisions and strategies.

What is MIS & technological innovation?

Management Information Systems (MIS) facilitate the collection, processing, and dissemination of information, enhancing organizational decision-making, often integrated with technological innovations to improve efficiency and productivity.