Mis test 1 topics

Information Technology (IT)

The use of computers, networks, and software to store, process, and share information.

Information System (IS)

A structured combination of people, processes, technology, and data that collects, processes, and disseminates information to support decision-making.

Emerging Technologies

New or rapidly developing technologies, such as AI, blockchain, and quantum computing, that can impact businesses and society.

Internet of Things (IoT)

A network of physical devices connected via the internet, collecting and exchanging data.

DIKW Hierarchy

A hierarchy that includes Data, Information, Knowledge, and Wisdom.

Data

Raw facts such as numbers and text.

Information

Organized data with context, like a sales report.

Knowledge

Application of information, such as analyzing trends in sales.

Wisdom

Using knowledge for strategic decision-making.

Information Literacy

The ability to locate, evaluate, and use information effectively.

Information Asymmetry

A situation where one party has more or better information than another, leading to unfair advantages.

Business Process

A set of activities designed to achieve a business goal, such as order processing.

System

A collection of interrelated components that work together.

Subsystem

A smaller system within a larger system.

Open System

Interacts with its environment.

Closed System

Limited or no interaction with its environment.

Equifinality

Different paths can lead to the same outcome in a system.

Information Processing Cycle

The cycle that includes Input, Processing, Control, Output, Storage, and Feedback.

Hardware

Physical devices such as computers and servers.

Software

Programs that process data.

Feedback

Adjusting the process based on results.

Business Rule

Guidelines that govern business operations.

Enterprise Resource Planning (ERP)

Integrates core business processes.

Customer Relationship Management (CRM)

Manages customer interactions.

Supply Chain Management (SCM)

Tracks goods and services.

Databases

Structured collections of data for efficient retrieval.

Relational Databases

Data stored in tables with relationships between them.

Database Management Systems (DBMS)

Software for creating, managing, and querying databases.

ETL Process

Extract, Transform, Load; a process for handling data.

Spreadsheets

Good for small-scale data management.

Redundancy

Duplication of data.

Inconsistency

Conflicting data across different sources.

Record

A row in a table.

Field

A column in a table.

Primary Key

A unique identifier in a database.

Composite Primary Key

A key made up of multiple fields.

Foreign Key

A field that links two tables.

Big Data

Large datasets requiring advanced processing.

Decision

Choosing between alternatives.

Structured Decision

Routine decisions with clear rules.

Semi-structured Decision

Partially automated, requiring judgment.

Unstructured Decision

Complex, unique decisions.

Operational Control

Daily tasks management.

Managerial Control

Mid-level supervision and planning.

Strategic Control

Long-term goals and policies.

5 Whys

A technique to identify the root cause of an issue by asking 'Why?' repeatedly.

What-If Analysis

A technique for modeling different scenarios.