BUSI 1401 - INFO SYSTEMS

What are the five components of an information system?

Hardware, software, data, people, procedures

Precisely targeted attacks, usually customized based on personal information, referred to as

Spear phishing

The digital divide, where individuals lack access to infor. and communication technologies, fall under which category of business pressure

Societal pressure/political/legal

Sales for past three years is what business analytic?

DescriptiveDatabase containing employee salary data is maintained and updated. Which characteristic of data warehousing applies to this database?

Database containing employee salary data is maintained and updated. Which characteristic of data warehousing applies to this database?

Time variant

Ethical action is the one that not only provides the most good or least harm but is concerned about how the good or harm is distributed

Utilitarianism

what is an informed user?

informed Users understand how specific technologies work and where they can be applied.• Consult with other managers, help determine the goals of an organization and then implement technology to meet those goals

what is a technology user

-Browse the internet or communicate with others on our cell phones•

-Take notes and watch videos / streams on our laptops

what is an information system?

A system that collects, processes, stores, analyzes, and disseminates information for a specific purpose.

- part of tools, people, and processes

what are some benefits of an MIS education

effective, efficient, and reliable

what is data?

a discrete value describing a quality, quality or fact example the weather

what is information?

data that has been organized, structured or given context

what are the three components of systems theory?

input, processing, output

what is an input system?

captures raw data from organization or external environment

what is processing?

Converts raw data into meaningful form

What is output?

transfers processed information to people or activities that use it

what is another step of systems theory that may also be incorporated?

feedback

what is feeback?

information returned to desicison makers and managers to help influence inputs and processes.

all systems exist within an ____________________________ that places constraints or requirements on the system?

environment

ex. government regulation

what is functional area IS?

it supports activities within a specific function ex. bookkeeping

what is transaction processing systems (TPS)?

processes transaction data from a terminal

ex. point-of-sales systems

What is enterprise resource planning (ERP)?

Integrates all function areas of an organization EX. oracle

what is office automation system?

supports daily work activities of individuals or groups

EX. Microsoft office

What is a dashboard?

presents structured and summarized information to executives

EX. revenues vs expenses

what is decisions support system?

provides decision makers access to data and analysis tools

ex. what if questions

what is an expert system?

replaces human experts in a particular area by making decisions

ex. credit card approval analysis

what is supply management?

manages the flow of products, services, and information among organizations

ex. Walmart retail link

what is electronic commerce system?

enables transactions among organizations and between organizations and customers

ex. amazon and Spotify

what is a business process?

an ongoing collection of related activities that create a product or service of value to the organization, its business partners, and/or its customers

ex. hiring new employees

what is a functional process?

larger organizations group similar processes together known as departments

examples: HR, accounting, sales...

What is Porter's Five Forces Model?

analyzes the competitive forces within the environment in which a company operates to assess the potential for profitability in an industry

what is a cross-functional process>

when business functions work together to meet the overall objectives of the organization

example; sales process

what are steps in the simple sales pocess?

1. sales contacts customer

2. customer places order

3. operations provides good/service

4. finance requests and receives payment

business process management consists of what three steps?

1. process modelling

2. process monitoring

3. process reengineering and improvement

what is process modelling?

the graphical depiction of all the steps in a process

what is process monitoring?

organizations only do as well as their individual processes

what is improving processes?

when we find underperforming processes that need to be fixed, we have a few options:

1. training and resources

2. business process improvement

3. business process reengineering

what are some steps in the business process reengineering?

-radical change (clean slate)

-top-down changes

ex. ford assembly line

what are some steps in the business process improvement

- incremental change (gap analysis)

- bottom-up changes suggested by employees

ex. paperless office

what are some business pressures?

-changing technology (databases, autonomous vehicles)

-changing regulation (personal info)

-global events (covid)

-economic factors (porter 5 model)

what are the five steps in porter's five forces model?

1. bargaining power of customers

2. threat or substitutions

3. bargaining power of suppliers

4. threat of new entrants

5. rivalry among existing firms

what are porter's 4 competitive generic strategies?

1. cost leadership across industry

2. differentiation across industry

3. cost leadership

focused on particular industry segment

4. differentiation focused on particular industry segment

what is treacy & wiersema value disciplines?

1. operational excellence

2. customer intimacy

3. product leadership

3 ways info systems create value:

1. improving productivity

2. changing competitive structure

3. providing benefits to end customers

What is wisdom?

the ability to act on knowledge in a way that combines judgement, experience, and morality

on the data to wisdom graph what is the variable on the x axis and explain

variable: understanding

from 0 to infinity: researching, absorbing, doing, interacting and reflection

on the data to wisdom graph what is the variable on the y axis and explain

variable: connectedness

from 0 to infinity:

gathering points, connection of parts,

formation of a whole, joining of wholes

4 attributes apart of data to wisdom:

1. data

2. information

3. knowledge

4. wisdom

What is data management?

the development, execution, and supervision of plans, policies, programs and practices that deliver, control, protect and enhance the value of data and information assets throughout their lifecycles.

what is the goal of data management?

to provide infrastructure and tools to transform raw data into usable information of the highest quality.

why is data management expensive and difficult?

- the exponential increase of the volume of data

-data is used offline without control checks

-data may be out of date

what are the branches in the path of data?

1. data sources and databases

2. data storage

3. data analysis

4. results

5. solutions

what is data sources and databases used for?

to find or create data that we want to use

what is data storage used for?

to put data created in systems that can efficiently store it overtime.

what is data analysis used for?

to help organize the data, tools and techniques to filter and summarize.

what is solutions used for?

to design automated systems that feed data and insights into other operational systems (e.g. feeding market data into sales system).

what are the three scopes of data management?

1. organization level

2. data formats

3. level of detail

what is master data management?

a process to integrate data from various sources and enterprise apps in order to create a unified view of the data.

what is document management systems?

hardware and software to manage, archive, and purge files and other electronic documents.

what is enterprise content management?

-includes documents and records management, web content management, search optimization, workflow features, collaboration tools, scanning and capture systems.

what is database management systems?

facilitates multi-user access to a centralized data source and applies applications access to the stored data in a consistent manner

what are the 7 phases of the data lifecycle?

data capture

data maintenance

data synthesis

data usage

data publication

data archival

data purging

what is data capturing?

-creating data values that do not yet exist and have never existed within the enterprise.

-can be acquired (buying customer list), captured (internet) or entered (sales transactions)

what is data maintenance?

-the movement, integration, cleansing and enrichment of data among various systems.

- it Is the preparation of data for use in various parts of a business

What is data synthesis?

creating new data based on existing data using inductive logic

ex. good credit score means they will repay their loans

what is data usage?

applying data to decision making and business problems

ex. reviewing financial reports

what is data publication?

optional - involves sending data outside of the organization

ex. sending customer invoices

what is data archival

storing data just in case it is needed again and removing active production systems.

ex. tax audits

What is data purging?

-data moves through before disappearing forever.

-deleting data and destroying backups

What is data quality?

accuracy

completeness

consistency

uniqueness

timeliness

validity

how to prevent poor data quality?

data quality problems stem from fault data input thus systems should be reviewed and changed to stop bad data before it is used to make decisions

how do you correct bad data?

1. data quality audits (randomly review sample data files)

2. data cleansing (software to automatically detect and correct data)

what is data governance?

an approach to managing information across an entire organization

what is the goal of data governance?

to make information available, transparent, and useful for the people who are authorized to access it from start to end of data lifecycle

what is master data?

a consistent and uniform set of identifiers and attributes that describe the core entities of the enterprise, such as customer, product, employee, vendor, location etc.

what is master data?

a consistent and uniform set of identifiers and attributes that describe the core entities of the enterprise, such as customer product, employee, vendor, location ect.

ex. customer name, manufacture, part number, purchase price, date

what is transaction data?

data that is generated or captured by operational systems that describe business activities as they occur.

4 advantages of master data management?

1. helps manage the business and share data among business functions

2. improves search effectiveness

3. increases accuracy and improves data quality

4. streamlines creating new transactions entries

problems with traditional file environments

-data redundancy

-data inconsistency

-program-dependent and inflexible

-poor security

-lack of data sharing and availability

what is a database

a centralized and organized collection of structured data that serve many users

what are two possible views of a single HR database that provides views of the data based on info needs of the user

1. view for a benefits specialist

2. view for a payroll administrator

functions of database management systems?

1. data profiling/modelling

2. promoting data quality

3. synchronizing &integrating & integrating data

4. enriching data

5. data maintenance

6. access and security

what is relational DBMS? (RDBMS)

represents data as two-dimensional tables called relations or files

what elements are in every database table?

rows (customer), fields (phone number), foreign keys (customers and orders) and primary keys (social insurance number)

what is a regular database?

they focus on capturing and processing data in real-time and as quick as possible (online transaction processing) but expensive

what is a data warehouse?

a database that is designed to:

-store large amounts of data

-from many different systems

-in a way that is effective for analysis

-focuses on Online analytical processing

ex. customer purchases over 5 years organized into total sales by year

what are differences between OLTP AND OLAP?

OLTP: structured for efficient storage

OLAP: structured for fast analysis

what are two data warehouse environments?

1. extract, transform, load (ETL)

2. data mart

what is ETL?

A process that extracts info from internal and external data bases, trasnforms the info using common set of enterprise definitions, and loadsthe information into a data warehouse

What is a data mart?

A subset of a data warehouse, contains data for use by a specific business unit or group of users

what are 5 characteristic of data warehouses and data marts?

1. organized by business dimension of subject (customer, vendor)

2.integrated: data collect from diff systems (customer profiles

3. time variant: maintains data over time (e.g employee roles and titles)

4. non-volatile: data does not change once stored

5. multidimensional data structures and online analytical processing (OLAP)

What are the 4 Vs of Big Data?

Volume (terabytes), Velocity (streaming data), Variety (text, multimedia), Veracity (uncertainty due to data inconsistency

what are 4 data applications?

1. spam detection

2. text correction

3. autonomous vehicles

4. product recommendations

What is tacit knowledge?

subjective or experimental learning

what is knowledge management?

a process that manages important info knowledge that forms the organizations memory

ex. wiki, social media

what is explicit knowledge?

knowledge that is codified (documented) in a form that can be distributed, persist in the future, used In business practices or into organizational strategy

7 phases in the knowledge management system cycle:

1.create and capture

2. refine

3. store/manage

4. disseminate (distribute, present, use)

what is create and capture?

knowledge that is used internally

what is refine?

new knowledge must be placed in context so that it is actionable

what is store/manage?

knowledge stored in a repository so others can access it (databases).