Foundations of Management Information Systems (MIS)

A comprehensive set of flashcards covering key concepts and terminology related to Management Information Systems, Business Intelligence, and Data Management.

Data

Raw facts describing characteristics of an event that can be structured, machine-generated, or human-generated.

Information

Data that has been converted into a useful context, delivered via static or dynamic reports.

Business Intelligence (BI)

Information collected from multiple sources used to support strategic decision-making.

Knowledge

Skills, experience, and expertise combined with information that helps in decision-making.

MIS (Management Information System)

A business function that moves information across the firm to support decisions and problem-solving.

Information Silo Risk

Occurs when business units cannot communicate, leading to inconsistency and duplication.

Competitive Advantage

A product or service feature valued more by customers than a competitor's, enabling premium pricing.

SWOT Analysis

Identifies internal Strengths and Weaknesses, and external Opportunities and Threats for strategic clarity.

Porter's Five Forces

Analyzes five competitive pressures: buyer power, supplier power, threat of substitutes, threat of new entrants, and competitive rivalry.

Value Chain Analysis

Separates a firm's activities into primary and support activities to find where value is created.

BPR (Business Process Reengineering)

Redesigns workflows to improve efficiency and enable cross-functional teams.

CSFs (Critical Success Factors)

Crucial steps required to achieve goals and execute strategies.

KPIs (Key Performance Indicators)

Measures actual performance against strategic objectives.

Information Security Goal

Protects information from misuse by insiders and outsiders.

Hacker

A technology expert who breaks into systems for profit, challenge, or other motives.

Database

Stores information about objects, events, people, and places.

DBMS (Database Management System)

Supports creating, reading, updating, and deleting data while controlling access.

RDBMS (Relational DBMS)

Organizes data into logically related two-dimensional tables.

DSS (Decision Support System)

Supports semi-structured managerial analysis and 'what-if' scenarios.

Big Data

Characterized by the 4 Vs: Volume, Variety, Velocity, and Veracity.

Transactional Information

Supports single processes and daily operations.

Analytic Information

Supports managerial analysis across the organization.

Data Warehouse

Consolidates information from many operational databases for organization-wide analysis.

Data Mart

A focused subset of warehouse data tailored for a specific business unit.

CRM (Customer Relationship Management)

Manages customer relationships to increase loyalty and profitability using insights.

ERP (Enterprise Resource Planning)

Integrates all departments into one enterprise-wide system using a common data repository.