ITM102 Final Exam

Final Exam lol im gonna die

Fact

confirmation of event or object

information age

present time where facts are widely available to anyone with tech

Internet of Things

Device connected to internet intended to enhance performance with humans

Machine-to-Machine

2 or more connected device interacting using wired/wireless connection intended to share data and analytics with humans

Core Drivers of Info Age

Data, Information, Business Intelligence, Knowledge

Big Data

Large volumes of Data

Variety

Different forms of structured and unstructured data

Veracity

Uncertainty of data, including biases noises and abnormalities

Volume

Scale of Data

Velocity

Analysis of streaming data as it travels around the world

Structured Data

Defined length, type, and format. Includes numbers, dates, or strings

Machine Generated Structured Data

created by machine without humans

Human-generated structured data

Data that humans, interacting with computers, generate

Unstructured Data

Not defined, does not follow specific format, typically free form text

Machine Generated Unstructured Data

Satelite images, atmospheric data, radar data

Human generated Structured Data

text msgs, social media, emails

Information

Data converted into a meaningful and useful context

Variable

A data characteristic that stands for a value that changes or varies over time

Dynamic report

Changes automatically during creation

Static report

Created once based on data that does not change

Business intelligence

Information collected from multiple sources to be analyzed and used for strategic decision making

Business Analytics

Process of transforming data into business decisions

Descriptive Analytics

Past Performance and History

Diagnostic Analytics

Examines data to answer questions

Predictive Analytics

Extract into to predict trends and patterns

Prescriptive Analytics

Create models including what is the best decision to make

Knowledge

Skills, expertise, and experience that constitutes intellectual resources

Knowledge Assets

Human structural, and recorded resources available to organization

Knowledge worker

Individual valued for ability to interpret and analyze information

Data Silo

When data is unable to be freely communicated with other departments

Democratization

making something accessible to everyone

Data Democratization

Ability for data to be collected, analyzed and accesible to all users

Production

Raw materials into finished product

System Thinking

way of monitoring entire system by viewing multiple inputs being processed to produce outputs while gathering feedback on each part

Management Information System

Business functions that move information about people, products and processes across company to help problem solving

CIO

Information and ensures strategic alignment of MIS with business goals

CDO

Determine the type of information enterprise will capture

CTO

ensuring throughput, speed, accuracy, availability and reliability of information

Operational Level

Employee develop, control, and maintain core business activities required to run the day2day

Operational Decisions

Affected how the firm is run day2day

Structured Decision

Situations where established processes offer potential solution

Managerial Level

Employees evaluate company operation identify, adapt to, and leverage change

Managerial Decisions

How organizations should achieve goals set by strategy

Semistructured Decisions

Few established processes help to evaluate potential solutions, but not enough to lead a definite recommended decisions

Strategic Level

Managers develop overall strategies and goals

Strategic Decisions

Involve higher-level issues concerned with overall direction of organization

Unstructured Decisions

Occurs when there are no precedent or rules to guide decisions makers towards the correct choice

Project

Temporary activities to create something

Metrics

measurements that measure if project reach goals

Critical Success Factors (CSF)

Steps companies make to perform to achieve goals

Key Performance Indicators (KPIS)

Quantifiable metrics a companies used to evaluate progress towards csfs

Efficiency MIS Metrics

Measure performance of MIS

Effectiveness MIS Metrics

Measures impact MIS has on business

Transactional Data

All data contained within a single process, supports performance of day to day operations

Transaction Processing System (TPS)

Basic business system serving operational level

Online transactional Processing (OLTP)

Using technology to capture event data

Analytical Information

All organizational data to support performing of managerial analysis

Online Analytical Processing (OLAP)

Manipulation of information to create intelligence in support of strategic decision making

Decision support system (DSS)

Models information to support managers and business professionals during decision-making process

Executive information system (EIS)

Specialized DSS that support senior-level executive decisions and analysis

Digital Dashboard

Tracks KPI and CSFS from compiling information for multiple sources

Business Intelligence

Applications and tech used to gather, provide access and analyze data and information to support deicsion-making efforts

Data Latency

Time to make data ready for analysis

Analysis Latency

time for which data is made available to the time when analysis is complete

Decision Latency

the time it takes for human to comprehend the analytic result and determine an appropriate action

Operational BI

Manage daily operations

Tactical BI

Conduct Short term analysis to achieve strategic goal

Strategic BI

Achieve long term organization goals

Customer Facing Process

Results in product or service received by organizational external customer

Business Facing Process

Invisible to the external customer but effective to business

Business Process Model and Notation

Graphical notation and depicts steps in business (event, activity, gateway, Flow

Business Process Model

Graphic description of a process, showing sequence of process tasks, developed for specific things

Mapping

creating maps or charts showing inputs, tasks, and activities

As is model

represent current state of operation

To-Be process model

Shows result of applying change

use Case

How a product can be used to achieve goals

workflow

tasks, activities, responsibilities require to execute each step in business

Operational business processes

Static, daily business processes

Business Process Improvements

Attempts to understand and measure current process to make improvements accordingly

Managerial Business processes

Semidynamic, semiroutine, monthly business processes

Streamlining

simplifying and eliminating unnecessary steps

Bottleneck

occurs when resources reach full capacity

Strategic Business processes

Dynamic, nonroutine, long term business process

Information MIS Infrastructure

Supports Operations

Agile MIS Infrastructure

Supports Change

Sustainable MIS Infrastructure

Supports environment

Back up

Exact Copy of system information

Recovery

Ability to get system up and running incase of failure

Disaster Recovery Plan

detailed process for recovering information on IT system

Disaster recovery cost curve

cost to the organization of the unavailability of information, cost to recover from disaster

Hot Site

Separate and fully equipped facility where company can move to after disaster and resume business

Cold Site

separate facility that does not have any computer equipment, but employees can move after disaster

Warm Site

separate facility with computer equipment that requires installation and configs

Business continuity Plan

how business with recover and restore partially or completely interrupted critical function

Business impact analysis

identify all critical business function and how it impacts

Maintainability

how quickly system can transform to support environmental change

Portability

ability of an application to operate on different devices

Reliability

ensure a system is functioning correctly

Binary digit (bit)

smallest unit