INFORMATION SYSTEM

oh help me god

What is information technology

Information technology refers to the use of computers, software, networks, and other electronic systems to store, retrieve, transmit, and manipulate data

Information technology hardware

Computer hardware such as computers, cpu, and memory. also connects to input devices, output devices, and storage devices.

What is competitive advantage

advantage that a company has over its competitors. typically, a feature, benefit, product, service

What is the first mover advantage

Takes place when a company gains a competitive advantage by being the initial mover with a certain feature, product, or service.

Switching cost

cost to customers of switching to a different product/service from the one they are already using

entry barrier

Cost that must be incurred by an entrant into a market. costs of products/services/features that customers expect.

Porters 5 forces

Existing industry rival in the middle. Threat of new entrants → threat of substitutes. Power of buyers ^ power of suppliers.

Power of Buyers

The ability of customers to influence the prices (by driving prices down)

Power of suppliers

The ability of suppliers to influence the prices (by maintaining the prices or driving prices up)

Threat of new entrants

Threat that new competitors pose to the incumbents in an industry

Threat of new substitutes

Threat that an alternative products or services may offer similar benefits to the consumer as the existing products or services provided by the incumbents in an industry

Existing industry rivalry

Competitive rivalry among existing firms in the industry

Key Performance Indicators

A metric that demonstrates how well an objective is being achieved.

How should KPI’s be alinged

reflecting the strategic goals and objectives of the organization

How should KPI’s be attainable

measured based on the data that can be obtained in a straightforward manner

How should KPI’s be accurate

based on accurate data and calculations

How should KPI’s be actionable

giving insights that can prompt action

Efficiency

Measuring the performance of technology (average login time, disk utilization, display response time, throughput)

Effectiveness

Measuring the business impact (conversion rate, financial metrics)

Information systems leadership roles

Chief Information Officer (CIO), Chief Technology Officer (CTO), Chief Information Security Officer (CISO)

Chief Information Officer

Most senior executive in charge of information systems. oversees the use of data/information technology and aligns it with the enterprise’s strategies, objectives, and goals

Chief Technology Officer

Executive in charge of the efficiency of the information systems. Focused on information technology (hardware, software, networks) related issues in an organization

Chief Information Security Officer

Executive in charge of the security of information systems and data assets. securing against unauthorized use, malicious use, data loss, and data theft

Data Quality

The data in an informed system is considered of high quality if it correctly and non-ambiguously reflects the real-world it is designed to represent

Data quality characteristics

Accuracy, Uniqueness, Completeness, Consistency, Timeliness, and Confomity

Accuracy

the extent to which data correctly reflects the real-world instances it is supposed to depict

Uniqueness

requires each real-world instance to be represented only once in the data collection

Completeness

the degree to which all of the required data is present in the data collection

Consistency

the extent to which the data properly conforms to and matches up with the other data

Timeliness

the degree to which the data is aligned with the proper time window in its representation of the real world

Conformity

the extent to which the data conforms to its specified format

Database requirements

collection, definition, and visualization

Conceptual database model

a visualization of requirements by using a conceptual data modeling technique (such as entity-relationship [ER] modeling)

Logical modeling

Creation of the database model that is implementable by the DBMS software

Database Implementation

Using a DBMS to implement the database model as an actual database

Front End Application Development

Designing and creating applications for indirect use by the end-users

Database Deployment

Releasing the database system for use by the business users

Database Use

The insertion, modification, deletion, and retrieval of the data in the database system

Maintenance and Administration

Performance activities that support the database end user, including dealing with techincal issues

Entity-Relationship (ER) modeling

conceptual database modeling technique which enables the structuring and organizing of the requirements collection process and provides a way to graphically represent the requirements

ER Diagram (ERD)

the result of ER modeling, serves as an initial blueprint for the database

Database Front End

Provides access to the database for indirect use, typically components of a database front end include forms and reports

Operational data

Operational information is collected and used in support of day-to-day operational needs in businesses and other organizations such as information reflecting withdrawing cash from an ATM

Analytical Data

Analytical information collected and used in support of analytical tasks such as information reflecting trends, sales, product statistics, and future growth projections

Data Warehouses

a system used for reporting and data analysis and is considered a core component of business intelligence, and a typical organization maintains and utilizes several operational data sources

Data Warehouses components

Source systems, extraction-transformation-load infrastructure, data warehouse, and front-end applications

Online Transaction Processing (OLTP)

updating, inserting, modifying, deleting, and retrieving data from databases for operational purposes

Online Analytical Processing (OLAP)

retrieving data from data warehouses and/or data marts for analytical purposes

OLAP/BI tool functions

OLAP tools are designed for analysis of data in data warehouses and data marts, they allow users to retrieve needed from data warehouses and data marts by using simple point-and-click mechanism

OLAP/BI Tools

Slice and Dice, Pivot (rotate), Drill Down / Drill Up

Slice and Dice

adds, replaces, or eliminates specified attributes (or particular values) from the already displayed result

Pivot (rotate)

Reorganizes the values displayed in the original query results by moving values of a dimension column from one axis to another

Drill Down

Makes the granularity of the data in the query result FINER

Drill Up

makes the granularity of the data in the query result COARSER

Market Basket Analysis

Finds groups of items that tend to appear together in transactions, measures in support and confidence

Support

Number of transactions containing X and Y / number of all transactions

Confidence

Number of transactions containing X and Y / Number of transactions containing X

Big Data

Massive volumes of diverse and rapidly growing data that are not formally modeled for efficient retrieval, part of a heterogeneous originating from various sources such as smart devices, social media, sensors etc.

Storage and Use of Big Data

Big Data is not modeled up front for a pre-determined operational and/or analytical queries and can encompass 80%-90% of stored data

Data Lake

Large data pool in which the schema and data requirements are not defined until the data is queried. data lakes store vast amounts of raw data in its native format until it is needed.

Supply Chain Operations Reference (SCOR) Model

Framework for supply chain management, include plan, source, make, deliver, return, enable

Plan (SCOR)

Develop and communicate plans for sourcing, making, delivering, and returning/cancelling company’s products/services

Source (SCOR)

Schedule and execute necessary steps for obtaining materials, goods, and services from suppliers that are needed to produce a company’s products and services

Make (SCOR)

Schedule and execute the necessary steps for creating a company’s products and services

Deliver (SCOR)

Schedule and execute the necessary steps for delivering a company’s products and services to their customers

Return (SCOR)

Schedule and execute the necessary steps for receiving returned products from their customers and for cancelled services by their customers

Enable (SCOR)

Actively and jointly manage all SCM-related processes and elements while measuring and monitoring SCM performance through usage of dagta and information systems

Supply Chain Logistics

the part of the supply chain process that plans, implements, and controls the efficient, effective forward and reverse flow and storage of goods, services, and related information between the point of origin and the point of consumption

The Bullwhip Effect

Occurs when product demand information passes throughout the supply chain in a distorted (delayed) way

RFM value

represents a customers score in Recency, Frequency, and Monetary value. used in marketing to segment customers based on their buying behavior for specialized campaigns

Business Process Reengineering (BPR)

The analysis and redesign of workflows within and between enterprises in order to optimize business processes

Automation

Changing the business process by automating it usually with technology

Streamlining

Changing the business process by removing unnecessary, outmoded, or inefficient steps and methods in the existing process

Paradigm Shift

BPR effort in one company redefines the entire industry (Ex: proactive fraud detection and resolution process)

Customer Relationship Management (CRM)

Leveraging existing customer data to drive loyalty and engagement, and maximize profitability from lapsed, existing, and potential customers

CRM objectives

Maintain, enhance, and improve relationships with customers and potential customers

Enterprise Resource Planning (ERP) systems

Typically facilitate processes that are uniform across industries and companies

Best-of-Breed Collection

An integrated collection of function specific commercial off-the-shelf software systems

Middleware

sits in the middle of and provides connectivity between software applications that are not originally designed to work together