MIS 213 Chapter 5 PPT + Book notes

Business analytics (BA)

The process of transforming data into insights to improve operations and decision-making.

Artificial intelligence

A family of technologies that approximate human cognitive abilities.

Business intelligence (BI)

A set of applications, technologies, and processes for gathering, storing, analyzing, and accessing data to help users make better business decisions.

Codifying knowledge

Converting tacit and explicit knowledge into a form that organizational members can use.

Cognitive map

A graphical representation of a mental model of an expert's knowledge.

Communication-driven decision support system

A DSS that facilitates collaboration and group-based decision-making.

Community of practice

A group of people who share a common interest, usually in a craft or profession, and who interact to share knowledge.

Conceptual knowledge

Explicit knowledge that is embodied in language, symbols, and images.

Data-driven decision support system

A DSS that focuses on the retrieval and manipulation of data that is stored in an organization's data stores.

Data mining

The process of analyzing data to identify trends, patterns, and other useful information to make predictions.

Data warehouse

A repository of transactional data (and other data) formatted to be useful for decision support.

Decision support systems (DSS)

Computer-based systems that help decision-makers use data and models to solve semistructured or unstructured problems.

Decision table

A list of conditions and their values along with a list of conclusions or actions.

Decision tree

A diagram that shows alternate paths that impact decisions.

Digital dashboards

Computer-based systems that provide graphical views of key data along with warnings when data indicates areas needing attention.

Document-driven decision support system

A DSS that facilitates the management and retrieval of documents that may help with decision-making.

Executive information systems (EISS)

Information systems that help provide high-level managers with the information they need to monitor business activities and make decisions.

Experiential knowledge

Tacit knowledge that can be shared through common experiences and interpersonal communication.

Expert systems

Systems that help users solve problems or answer questions in a way that mimics an expert's thought processes.

Explicit knowledge

Knowledge that can be expressed relatively easily.

Generative AI

Artificial intelligence tools used to generate text, images, video, and other types of content.

Groupware

A network-based system that helps workgroups communicate and collaborate.

Knowledge management

The process by which organizations create, capture, store, apply, and protect knowledge to achieve organizational objectives.

Knowledge repositories

Tools that facilitate finding and retrieving documents containing knowledge.

Large language models

Advanced artificial intelligence systems designed to understand and generate human-like text.

Machine learning

A branch of artificial intelligence involving applications that automatically improve through experience.

Model-driven decision support system

A DSS that provides the decision-maker with the ability to access and manipulate analytical models.

Robots

Computer-controlled machines that can carry out complex actions.

Routine knowledge

Tacit knowledge that is embedded in the organization's practices.

Systemic knowledge

Explicit knowledge that has been systemized and packaged.

Tacit knowledge

Internalized and highly individualized knowledge that is difficult to express or communicate.

Socialization SECI

Involves using tacit knowledge through direct communication or shared experience. This is tacit-to-tacit communication.

Externalization SECI

is tacit-to-explicit communication. tacit knowledge is converted to explicit knowledge by developing specific concepts, models, and the like. This conversion allows others to understand and interpret the knowledge. This also serves a foundation for creating new knowledge.

Combination SECI

is the process of combining externalized explicit knowledge to form broader concepts, models, and theories.

Internalization SECI

occurs when explicit knowledge transforms to tacit knowledge, and individuals within the organization internalize it. This can start a new cycle, beginning with the socialization of the new tacit knowledge

Knowledge Management Cycle Steps

knowledge creation, capture, codification, storage, retrieval, transfer, and application

Characteristics of Data

Easily structured, Easily Captured, easily transferred, often quantified, Made up of mere facts

Characteristics of Information

Made up of processed data, requires unit of analysis, requires human involvement

Characteristics of Knowledge

Hard to structure, Difficult to capture, often tacit, hard to transfer, information applied to some decision or action

Externally focused knowledge

Knowledge derived from external sources, such as customer insights, market trends, and competitor analysis, that informs decision-making.

Structured Internal knowledge

Knowledge that is organized and easily accessible within an organization, often documented in processes, systems, or databases, facilitating decision-making.

Informal internal knowledge

Includes “lesson learned” reports, discussion databases, and frequently asked questions collections

Three types of Knowledge Repositories

Externally focused knowledge, Structured internal knowledge, Informal Internal Knowledge

SECI Model

A model of organizational knowledge creation that includes Socialization, Externalization, Combination, and Internalization.

Knowledge Capture

The process of gathering raw information through scanning and then codifying it into an acceptable format.

Predictive Analytics

Insights that forecast future events to answer 'What could happen?'

Prescriptive Analytics

Insights that recommend actions to take to answer 'What should we do?'

Association Detection

A data mining technique that discovers relationships between variables in large datasets.

Web 2.0

The second stage of web development characterized by user-generated content, usability, and interoperability.

Narrow AI

A type of artificial intelligence that is designed and trained for a specific task or activity, such as speech recognition or image classification, as opposed to general intelligence. Ex. Computer Vision, NLP, Recommendation systems, Expert Systems

Deep AI

A class of artificial intelligence that aims to create systems capable of general cognitive abilities, often using deep learning techniques to process and analyze large amounts of data. Ex. Chat gpt, Gemini, Dali