Information Systems Fundamentals and Business Decision Making

Vocabulary flashcards covering core topics in Information Systems, data types, artificial intelligence branches and biases, organizational decision structures, business processes, and performance measurement.

Data

Raw facts, numbers, or symbols without context or meaning, such as quantity ordered, amount sold, or customer number.

Information

Data that has been processed, organized, structured, or contextualized to give it meaning and usefulness, such as identifying best-selling or worst-selling products.

Business Intelligence (BI)

Information collected from multiple sources (such as suppliers, customers, competitors, partners, and industries) that analyzes patterns, trends, and relationships for strategic decision-making.

Knowledge

Skills, experience, human insight, and context coupled with information and intelligence to make decisions or take actionable steps.

Structured Data

Highly organized, standardized data stored in defined fields, tables, rows, and columns (typically quantitative) that is easily readable and searchable by traditional relational databases.

Unstructured Data

Free-form, qualitative, or semi-structured data that lacks a predefined structure or database model, representing the majority of data generated today.

Robotics

The branch of AI focused on creating physical devices that can move and react to sensory input.

Natural Language Processing (NLP)

The development of algorithms that can analyze and understand human language, including both text and speech.

Computer Vision

The development of algorithms that can interpret and analyze visual information, including images and videos.

Expert Systems

Computerized advisory programs that imitate the reasoning processes of experts in solving difficult problems.

Generalized AI

AI systems that possess human-level intelligence and are capable of understanding, learning, and performing any intellectual task a human being can do.

Deep Learning

A process that employs specialized algorithms to model, study, and establish relationships among data and datasets.

Measurement Bias

A machine learning data bias caused by using collected data that skews the data in one direction.

Sample Bias

A machine learning data bias caused by using incorrect training data to train the machine.

Prejudice Bias

A machine learning data bias caused by using training data that is influenced by cultural or other stereotypes.

Variance Bias

A machine learning data bias caused by having a mathematical property of an algorithm.

Affinity Bias

The cognitive and behavioral tendency to connect with, hire, and promote those with similar interests, experiences, or backgrounds.

Confirmation Bias

The cognitive and behavioral bias of actively looking for evidence that backs up preconceived ideas about someone or something.

Structured Decision

Decisions that arise in routine, repetitive scenarios at the operational level where established processes and pre-established rules dictate the exact response.

Unstructured Decision

Long-term, high-stakes leadership choices occurring at the strategic level where no pre-existing procedures or rules exist to guide decision makers dealing with uncertainty.

Semistructured Decision

Decisions occurring at the managerial level where a few established processes help evaluate potential solutions, merging quantitative guidance with managerial judgment because rules do not cover the full scenario.

Marketing (Order-to-Delivery)

The functional department responsible for Step 1 of the Order-to-Delivery process: creating campaigns, checking inventory, and driving initial demand generation.

Sales (Order-to-Delivery)

The functional department responsible for Step 2 of the Order-to-Delivery process: placing orders, notifying production, checking credit, and orchestrating front-end order capture.

Operations Management (Order-to-Delivery)

The functional department responsible for Step 3 of the Order-to-Delivery process: manufacturing goods and physically creating products.

Accounting and Finance (Order-to-Delivery)

The functional department responsible for Step 4 of the Order-to-Delivery process: recording monetary transactions, billing customers, posting to financial ledgers, and handling invoicing.

Customer Service (Order-to-Delivery)

The functional department responsible for Step 5 of the Order-to-Delivery process: supporting the sale, post-sale assistance, returns handling, and client support.

Critical Success Factor (CSF)

Crucial steps companies perform to achieve their goals and objectives and implement their strategies, such as creating high-quality products.

Key Performance Indicator (KPI)

Quantifiable metrics a company uses to evaluate progress toward critical success factors.