Information Systems and Management

Flashcards covering key vocabulary from a lecture on information systems and management, including types of information systems, the role of data, management challenges, and cloud computing.

Information System (IS)

A system that uses technology to efficiently manage and leverage data to support decision-making and streamline business processes.

Transaction Processing System (TPS)

A type of information system that handles day-to-day business transactions, such as sales, inventory, and payroll.

Management Information System (MIS)

A type of information system that summarizes and reports on business activities to help mid-level managers make informed decisions.

Decision Support System (DSS)

A type of information system that helps with complex decision-making by providing projections, analysis, and simulations.

Executive Information System (EIS)

A type of information system that provides top executives with easy access to key data to support high-level decision-making.

Data Collection

The process of gathering raw data from various sources, such as customer orders and employee records.

Data Storage

The secure storage of data in databases or data warehouses.

Data Processing

The cleaning, sorting, and organizing of data to ensure accuracy and relevance.

Data Analysis

The use of analytical tools and techniques, such as reporting, dashboards, and predictive analytics, to interpret data.

Cloud Computing

The delivery of various computing services over the internet, allowing users to access, store, and manage data and applications remotely.

Infrastructure as a Service (IaaS)

A type of cloud computing service that provides access to fundamental computing infrastructure like servers and storage.

Platform as a Service (PaaS)

A type of cloud computing service that provides a platform allowing customers to develop, run, and manage applications without the complexity of building and maintaining the infrastructure.

Software as a Service (SaaS)

A type of cloud computing service that provides software applications over the internet, on demand.

Data Mining

The process of discovering patterns, trends, and valuable insights from large datasets.

Big Data

Extremely large and complex datasets that cannot be easily processed or analyzed using traditional methods.

Data Warehouse

A central repository where integrated data from multiple sources is stored for analysis and reporting.

Data Lake

A storage repository that holds a vast amount of raw data in its native format until it is needed.

Business Intelligence (BI)

The use of data analysis tools and techniques to gather insights and make informed business decisions.

Customer Relationship Management (CRM)

A system for managing a company's interactions with current and potential customers.

Supply Chain Management (SCM)

The management of the flow of goods, data, and finances related to a product or service, from procurement to delivery.

Enterprise Resource Planning (ERP)

A system that integrates various business functions into one complete system to streamline operations and decision-making.

Artificial Intelligence (AI)

The development of computer systems that can perform tasks that typically require human intelligence, such as learning and problem-solving.

Machine Learning (ML)

A subset of AI that allows systems to learn from data without being explicitly programmed.

Deep Learning

A type of machine learning that uses artificial neural networks with multiple layers to analyze data and make predictions.

Internet of Things (IoT)

A network of physical devices embedded with sensors, software, and connectivity, enabling them to collect and exchange data.

Blockchain

A decentralized and transparent ledger that records transactions across many computers, ensuring security and integrity.

Cybersecurity

The practice of protecting computer systems, networks, and data from digital attacks.

Data Governance

The establishment of policies and procedures for managing data assets to ensure quality, security, and compliance.