IDSC 3001 Quiz 1 vocab

Application

(apps) is a computer program designed to carry out a specific task, typically used by end-users.

Computer Science

Research and development of technologies such as algorithms, computation, hardware, communication and information theory, to practical disciplines including the building of hardware and software.

Digital Asset

Intellectual content which has been digitized and can be referenced or retrieved online

Digital Transformation

Involves integrating digital technologies and solutions into every area of a business. This is as much a cultural change as a technological one as it requires organizations to make fundamental shifts in the ways they operate and how they deliver customer experiences and benefits.

Disruptive Technology

New technology that surprisingly displaces an already established one.

Enterprise

A unit of economic organization or activity. Examples: a business, government agency, educational institution, non-profit organization, partnership, cooperative

Functions

The activities carried out by an enterprise; they can be divided into core functions and support functions. The primary functions are: marketing & sales, finance & accounting, production / operations, human resources, research & development

Functional Users

Individuals who carry out specific functions within an enterprise.

Hardware

The physical components of a computer including the keyboard, monitor, disk drive, and internal chips and wiring. Hardware is the counterpart of software.

Information Technology

(IT) is the use of computers to create, process, store, retrieve, and exchange all kinds of data. IT is typically used within the context of business operations.

Innovation

is the practical implementation of ideas that result in the introduction of new goods or services or improvement in offering goods or services.

Management Information Systems

(MIS) is an information system used for decision-making, and for the coordination, control, analysis, and visualization of information in an organization. The study of the management information systems involves people, processes, and technology in an organizational context.

Software

Any program (application) that performs a specific function. Examples: word processing, spreadsheet calculations, email.

Agile

refers to the idea of iterative development, where requirements and solutions evolve through collaboration between self-organizing cross-functional teams.

Artificial Intelligence

use of machines to mimic human intelligence to perform tasks.

Business Case or Use Case

is a technique used to identify the requirements of a system (normally associated with software/process design) the data and users.

Competitive Advantage

is the attribute that allows an organization to outperform its competitors.

Democratization of Technology

refers to the process by which access to technology rapidly continues to become more accessible to more people.

Diffusion

is the movement of individuals or an organization from a current state or process to a new process.

Early Adopter

an early adopter is an early customer / user of a given company, product, or technology.

End User

is a person who ultimately uses or is intended to ultimately use a product, service, software, device.

Digital Framework / Strategy

is the approach to remodeling the enterprise to incorporate digital technology to achieve greater efficiencies and collaboration to improving delivery speed and customer satisfaction.

Ideation

is the creative process of generating, developing, and communicating new ideas.

Income Statement

(top and bottom line) - is one of the primary financial statements and shows the company's revenues / sales (top) and expenses (bottom) during a particular period.

Strategic vs Operational

corporate strategy involves answering a key question from a portfolio perspective: "What business should we be in?". Operational strategy involves answering the question: "How shall we compete in this business?