Business Information & Systems Exam 3

Digital Darwinism

implies that organizations which cannot adapt to the new demands placed on them for surviving in the information age are doomed to extinction

Innovator’s Dilemma

discusses how established companies can take advantage of disrupting technologies without hindering existing relationships with customers, partners, and stakeholders

Internet

massive network that connects computers all over the world and allows them to communicate with one another

World Wide Web

provides access to internet information through documents including text, graphics, audio, and video files that use a special formatting language called HTML (hypertext markup language)

Web Browser

allows user to access world wide web

Hypertext Transport Protocol

the internet protocol web browsers use to request and display web pages using URL (universal resource locator)

Ebusiness

includes ecommerce along with all activities related to internal and external business operations

Ecommerce

buying and selling of goods over the internet

Paradigm Shift

occurs when a new & radical form of business enters the market that reshapes the way companies and organizations behave

Web 1.0

term that refers to WWW during its first few years of operation (1991-2003)

Information Richness

depth and breadth of information

Information Reach

number of people business could communicate with was now limitless

The Long Tail

refers to tail of typical sales curve

Intermediaries

agents, software, or businesses that provide a trading infrastructure to bring buyers

Disintermediation

occurs when a business sells directly to the customer and cuts out the intermediary

Heat Map

two-dimensional representation of data in which values are represented by colors

Viral Marketing

technique that induces websites or users to pass on a marketing message to other websites or users, creating exponential growth in the message’s visibility and effect

Clickstream Data

can reveal length of stay on site, number of page views, how they arrived on page, where they went after leaving page, number of abandoned shopping cart

Ebuisness Model

plan that details how a company creates, delivers, and generates revenue on the internet

Business to Business (B2B)

applies to businesses buying and selling to each other over the internet

Business to Consumer (B2C)

applies to businesses selling their products or services to consumers over the internet

Common B2C Models

Brick-and-Mortar, Click-and-Mortar, Pure-Play (Virtual) Business

Consumer to Business (C2B)

applies to any consumer that sells a product or service to a business over the internet

Consumer to Consumer (C2C)

applies to sites primarily offering goods and services to assist consumers interacting with each other over the internet

Dot-com

original term for a company operating on the internet

Key Word

word used in performing a search

Search Engine Optimization (SEO)

combines art along with science to determine how to make URLs more attractive to search engines resulting in higher search rankings

Ebuisness Revenue Models

Advertising Fees, License Fees, Subscription Fees, Transaction Fees, Value-added Service Fees, Pay-per-click, Pay-per-call, Pay-per-conversion

Affiliate Program

allows a business to generate commissions or referral fees when a customer visiting its website clicks a link to another merchant’s website

Hitbots

create the illusion that a large number of potential customers are clicking the advertiser’s links, when in fact there is no likelihood that any of the clicks will lead to profit for the advertiser

Click Fraud

practice of artificially inflating traffic statistics for online advertisements

Ebusiness Tools

email, podcasting, video chat, instant messaging, content management

Web 2.0

next generation of internet use, more mature & distinctive communication platform characterized by collaboration, sharing, and being free

Direct-to-Consumer (DTC)

ebuisness model where companies build, market, sell, and ship products themselves without relying on traditional stores or intermediaries

Characteristics of Business 2.0

Content Sharing Through Open Sourcing, Collaboration Inside Organization, Collaboration Outside Organization, User-contributed content

Open System

consists of nonproprietary hardware and software based on publicly known standards that allow third parties to create add-on products to plug into or incorporate into the system

Source Code

contains instructions written by a programmer specifying actions to be performed by computer software

Open Source Code

any software whose source code is free to use and modify

Closed Source Code

any proprietary software licensed under exclusive legal rights of the copyright holder

User-Contributed Content

created and updated by many users for many users

Collaboration System

tools that support the work of teams or groups by facilitating the sharing and flow of information

Collective Intelligence

collaborating and tapping into the core knowledge of all employees, partners, and customers

Knowledge Management

involves capturing, classifying, evaluating, retrieving, and sharing information assets in a way that provides context for effective decisions and actions

Knowledge Management System (KMS)

supports the capture, organization, and dissemination of knowledge throughout an organization (explicit knowledge or tacit knowledge)

Crowdsourcing

wisdom of the crowd

Crowdfunding

sources capital for a project by raising many small amounts from many individuals, typically via the internet

Social Media

websites that rely on user participation and user-contributed content

Social Network

application that connects people by matching profile information

Social Networking

practice of expanding your business and/or social contacts by a personal network

Social Networking Analysis

maps group contacts (personal and professional) identifying who knows each other and who works together

Tags

specific key words or phrases incorporated into website content for means of classification or taxonomy (hashtag, social tagging, social bookmarking, website bookmark)

Folksonomy

similar to taxonomy except that crowdsourcing determines the tags or key-word based classification system

Snackable Content

content that is designed to be easy for readers to share and consume

Blog

online journal that allows users to post their own comments, graphic, and video

Wiki

collaborative web page that allows users to add, remove, and change content, which can easily be organized and reorganized as required

Metcalfe’s Law

states the value of telecommunications network is proportional to the square of the number of users connected to the system

Network Effect

describes how products in a network increase in value to users as the number of users increases

Misinformation

refers to false information that is presented as fact without an intent to deceive

Disinformation

refers to false information that is presented as fact with an intent to deceive

Fake News

refers to false news stories created to be widely shared or distributed for the purpose of promoting or discrediting a public figure, political movement, or company

Parts of Web 3.0

semantic web, deep web, dark web

Semantic Web

component of Web 3.0 that describes things in a way computers can understand

Deep Web

large part of the internet inaccessible to conventional search engines

Dark Web

portion of the internet intentionally hidden from search engines, uses masked IP addresses, and is accessible only with a special web browser

Local Area Network (LAN)

connects a group of computers in close proximity

Wide Area Network (WAN)

spans a large geographical area

Metropolitan Area Network (MAN)

large computer network usually spanning a city

Mobile

technology that can travel with user; download software, email messages, and web pages onto a laptop or other mobile device

Mobile Business

ability to purchase goods and services through a wireless internet-enabled device

Wireless

refers to any type of operation accomplished without the use of a hardwired connection

Wireless Fidelity (Wi-Fi)

means by which portable devices can connect wirelessly to a local area network, using access points that can send and receive data via radio waves

Wi-Fi Infrastructure

includes inner workings of a Wi-Fi service or utility, including the signal transmitters, towers, or poles and additional equipment required to send out a Wi-Fi signal

Bandwidth

maximum amount of data that can pass from one point to another in a unit of time

Bit

smallest element of data that has either a value of 0 or 1

Bit Rate

number of bits transferred or received per unit of time

Personal Area Networks (PAN)

provide communication over a short distance that is intended for use with devices owned and operated by a single owner

Bluetooth

wireless PAN technology that transmits signals over short distances between cell phones, computers, and other devices

Wireless LAN (WLAN)

local area network that uses radio signals to transmit and receive data over distances of a few hundred feet

Access Point

computer or network device that serves as an interface between devices and the network

Wireless Access Point

enables devices to connect to a wireless network to communicate with each other

Multiple-in/Multiple-out Technology

multiple transmitters and receivers allowing them to send and receive greater amounts of data than traditional networking devices

Wireless MAN (WMAN)

metropolitan area network that uses radio signals to send and receive data

Worldwide Interoperability for Microwave Access (WiMAX)

communications technology aimed at providing high-speed wireless data over metropolitan area networks

Wireless WAN (WWAN)

wide area network that uses radio signals to transmit and receive data

Streaming

method of sending audio and video files over the internet in such a way that the user can view the file while it is being transferred

Streaming Data

data that are generated continuously by thousands of data sources, which typically send in the data records simultaneously, and in small sizes

5G

fifth generation wireless broadband technology that will greatly increase the speed and responsiveness of wireless networks

Wi-Fi 6

next generation of wi-fi expected to operate at 9.6 Gbps

Satellite

space station that orbits the earth receiving and transmitting signals from earth-based stations over a wide area

Actor

entity capable of participating in an action or network

Bad Actor

entity that is participating with ill intentions

Wired Equivalent Privacy (WEP)

encryption algorithm designed to protect wireless transmission data

Wi-Fi Protected Access

wireless security protocol to protect wi-fi networks

SSL Certificate

electronic document that confirms identity of a website or server and verifies that public key belongs to a trustworthy individual or company

Secure Hypertext Transfer Protocol

combination of HTTP and SSL to provide encryption and secure identification of an internet server

IT Consumerization

blending of personal and business use of technology devices and applications

Pervasive Computing

growing trend of embedding computer capabilities into everyday objects to make them effectively communicate and perform useful tasks in a way that minimizes the end user’s need to interact with computers

Enterprise Mobility Management (EMM)

enterprise-wide security strategy to enforce corporate e-policies while enabling employee use of mobile devices

Mobile Application Management (MAM)

security strategy that administers and enforces corporate e-policies for applications on mobile devices

Mobile Application Development

set of processes and procedures involved in writing software for use on wireless devices