5.9 - Management Information Systems

A set of flashcards based on key concepts from the lecture notes on Management Information Systems and related topics.

What is data analytics?

The process of transforming raw data into usable information for businesses.

What defines a database?

A computerized system that makes it easy to store, search, and select data.

What was the 2022 cyberattack experienced by Optus?

A cyberattack that led to the theft of personal data of about 10 million customers.

What does cybersecurity protect against?

Protection of computer systems and networks from unwarranted information disclosure, theft or damage.

What is cybercrime?

Any illegal activity carried out using computers or the internet.

What are critical infrastructures?

Essential and interrelated physical structures and facilities needed for the effective function of a business.

What are artificial neural networks?

A form of machine learning that uses learning algorithms to adapt and solve problems independently.

What is cloud computing?

A virtual resource that enables businesses to store, organize and retrieve data efficiently online.

What is virtual reality?

An artificial three-dimensional environment created by software for exploration and interaction.

What is the internet of things (IoT)?

A broad system of physical objects embedded with electronics and sensors that connect to the internet.

What are customer loyalty programmes (CLP)?

Strategies that incentivize customers to continue buying the same products and brands.

What is digital Taylorism?

A modern approach to scientific management using data to monitor and evaluate employee performance.

What is data mining?

The process of extracting raw data from large datasets and converting it into usable information.

What is the purpose of management information systems (MIS)?

To study advanced computer technologies and their impact on organizations and relationships.

What are the benefits of using big data in businesses?

Identifying trends quickly, improving operational efficiency, and enabling dynamic pricing.