Management Information Systems Flashcards

Flashcards on Management Information Systems - Module One: Business Driven MIS

What is the role of Management Information Systems in businesses?

Underlying infrastructure performing activities such as ordering/ shipping goods, interacting with customers, etc.

How do organizations maintain competitiveness in a rapidly changing environment?

Adapt to technological advances and innovations.

What does machine to machine refer to?

Devices that connect directly to other devices.

What is the definition of Data?

Raw facts that describe the characteristics of an event or object

What is Information?

Data converted into a meaningful and useful context

What is Business Intelligence?

Information collected from multiple sources that analyzes patterns, trends, and relationships for strategic decision making.

What is Knowledge?

Skills, experience, and expertise coupled with information and intelligence that create a person's intellectual resources

What is structured data?

It has a defined length, type and format

What is machine generated data?

Created by a machine without human intervention, such as sensor data

What is human generated data?

Data that humans generate in interaction with computers, such as clickstream data.

What is unstructured data?

It is not defined and does not follow a specified format.

What is the simple difference between data and information?

Computers/machines need data, while humans need information.

What is a variable?

A data characteristic that stands for a value that changes or varies over time

What is a report?

A document containing data organized in a table, matrix, or graphical format.

What is a dynamic report?

This report changes automatically during creation.

What is a static report?

This report is created once based on data that does not change

What does Descriptive analytics do?

Describes past performance and history.

What is the goal of Diagnostic Analytics?

Examines data to answer the question, 'Why did it happen?'

What is Predictive Analytics ?

Extracts information from data to predict future trends.

What does prescriptive analytics do?

Creates models indicating the best decision to make.

What is Business Analytics?

The scientific process of transforming data into insight for making better decisions.

What does a Data Analyst do?

Collects, queries, and consumes organizational data to uncover patterns and provide insights.

What does a Data Scientist do?

Extracts knowledge from data by performing statistical analysis, data mining, and advanced analytics on big data.

Who are Knowledge Workers?

Individuals valued for their ability to interpret and analyze information.