Business Information Systems Exam 2

What is design thinking?

A process for solving problems by prioritizing the consumer’s needs above all else.

What happens when businesses don’t take a design thinking approach?

they work to please the mainstream, which means the miss opportunities elsewhere.

What are the 5 tests to design thinking?

1. empathy - understanding the problem

2. define - what are the users needs and challenges

3. ideate - developing potential solutions

4. prototype

5. test

What are ways companies can excel with AI?

• learn how to use it/ be adaptable

• prepare workforces for AI area

• increase cybersecurity investments

What are examples of AI skills?

• prompt engineering

• AI powered personal branding

• creative AI thinking

• AI project management

• data storytelling and visualization

• AI business strategy and implementation

• natural language processing

• curiosity and continuous learning

• intuitive understanding of AI limitations

true or false always use discretion when deciding if AI is best for work or not?

true, AI isn’t always accurate and there are concerns over security and risks.

Name and describe the 3 types of machine learning

• supervised - use of training and test sets to predict next value (fraud protection, predictions)

• unsupervised - identify clusters in data without training set. (visualization)

• reinforcement - learn via interaction and feedback (trial and error)

what is deep learning?

type of machine learning with layers connected in a neural network.

What are the 3 types of deep learning?

• convolutional neural network - image classification

• generative adversarial network - deepfakes

• large language models

How does a large language model work?

it reviews text and predicts which token (word or part of a word) should follow the previous.

What is the difference between traditional and generative AI?

• traditional has a limited scope and is repetitive

• generative creates original content and it less transparent

• traditional is better for data analysis, generative can do more tasks

What is virtualization?

creating multiple virtual machines on a single computing device

what is the cloud

servers that are accessed over the internet and the software and databases that run on those servers.

What is the benefit of cloud computing?

users do not have to manage physical servers themselves or run software applications on their own machines.

List and define the types of clouds as a service

business process as a service - lease a business function

software as a service - lease an application

platform as a service - lease a virtual computer with an operating system

infrastructure as a service - lease a virtual computer

What are the 3 types of clouds?

Public - resources shared across multiple organizations, managed by 3rd party.

Private - owned by a single organization

hybrid - combines elements of both.

What is Moore’s law?

states computer performance doubles every 2 years.

• computer memory

• network speed

• software sophistication

• sensor technology

• processing power

• fueling growth of the cloud

• reshaping almost every human-created system

How do cloud based technologies help with cybersecurity?

• shared security model between provider and customer

• offers scalable resources and advanced security features which helps organizations better protect their data.

• private clouds - customer has full control over security.

How do IoT security breaches happen?

• weak login credentials

• vulnerable systems

• unsecured networks

• lack of governance

What is the relation of cybersecurity and deepfakes?

AI gives criminals a lower barrier of entry with deepfaking.

What is phishing?

a cyberattack that tricks people into revealing personal information, often through emails and links by pretending to be a legitimate source.

How can a firm defend against a cyber attack?

• staff education

• cybersecurity testing

• requiring multiple layers of approval for transactions

What is ransom software?

• RaaS

• gain access to victim’s network through social engineering

• malware ID is developed and criminals encrypt the victims data

• use encrypted data as leverage to force payment of the ransom

What is a crm?

customer relationship management - used to increase sales and customer relations and ensures quality service.

What are some benefits of crm?

• automate tasks

• segmentation

• help marketing campaigns

• ensure quality customer service

• analyze purchase patterns

What is an ERP?

Enterprise resource planning - focused on reducing costs.

What are the benefits of ERP”s?

• track business processes

• process orders and update accounts

• manage supply chain and manufacturing

• track recruiting and manage payroll

True or false crm is outward and erp in inward

true

what is process mining?

a data driven technique using AI that analyzes, improves, and tracks business processes.

what is a digital twin?

a virtual model of a physical object, system, or process.

What is the advantage of enterprise wide information systems?

Data silos provide an incomplete view of business and reduces collaboration. CRM and ERP softwares bring together all information and give the company one holistic view.

How does CRM align marketing and sales?

operational - supports marketing

organization - ex. sales people not calling same person

analytical - analyze customer data

predictive - use data to predict how customers will behave

AI Powered CRM can:

• automate customer service

• analyze customer data for personalized marketing

• predict customer needs

What are the benefits of a data driven transformation?

1. maximize benefits and minimize risks

2. exploring new business opportunities

3. redefines processes

4. deeper insights into customer behavior.

what is BI?

Business Intelligence - a set of strategies and technologies for analyzing business information and transforming it into actionable insights that inform strategic and tactical business decisions.

Benefits of BI include:

• data driven decisions

• faster analysis

• increased efficiency

• improved customer and employee satisfaction

What is the difference between BI and Business Analytics?

BI focuses on descriptive analytics, data collection, and storage. Business analytics uses data mining and modeling to predict. BI is historical, BA is the future.

What is location intelligence?

BI’s ability to understand traffic patterns of a certain area and customer demographics.

what is sentiment analysis?

BI’s ability to focus on customer facial expressions and determine level of satisfaction of customer service.

What are some advantages of BI in retail?

• floor plan optimization

• optimized product placement

• inventory management

• marketing

• performance analysis

• improved customer experience

What are the 5 V’s of big data

• volume

• velocity

• variety

• veracity

• value

name and describe the 3 forms of big data

1. structured - easy to store and analyze (demographics)

2. unstructured - more difficult to analyze and search for (photos and videos)

3. semi structured - mix of the two (email)

Surveillance Capitalism

claiming a private human experience as free raw material for transition into data.

What is data exploitation?

the illegal use of private data for personal gain.

What is AI Bias

Biases that are built into AI systems that lead to discriminatory outcomes

Which type of cloud is cheaper, easier to maintain, and more relaible

public cloud. But private cloud is more secure, customizable, and flexible. Public clouds face more regulatory pressure.

What is an agile organization?

A technology enabled network of teams with people-centered culture that operates in a rapid-learning and fast decision cycles.

Agile Marketing

a dynamic and flexible way of performing the marketing process to optimize both operational efficiency and customer satisfaction.

Agile supply chain

a supply chain that uses comprehensive data from all parts of the logistics process to make quick decisions and respond quickly to disruptions

Kanban Board

a software/tactic designed to show visibility, separate work flow, and increase agility in project management