NOT THE Isa 235 Final Exam Study Guide

Information Age

The present time, during which infinite quantities of facts are widely available to anyone who can use a computer

Internet of Things (IoT)

a world where interconnected, Internet-enabled devices or "things" can collect and share data without human intervention

Data

raw facts that describe the characteristics of an event or object

information

Data converted into a meaningful and useful context

Business intelligence

Information collected from multiple sources such as suppliers, customers, competitors, partners, and industries that analyzes patterns, trends, and relationships for strategic decision making

Knowledge

Skills, experience, and expertise coupled with information and intelligence that creates a person's intellectual resources

Analytics

the science of fact-based decision making

System Thinking

is a way of monitoring the entire system by viewing multiple inputs being processed or transformed to produce outputs while continuously gathering feedback on each part

Management information systems (MIS)

A business function, like accounting and human resources, which moves information about people, products, and processes across the company to facilitate decision-making and problem-solving

Chief Information Officer (CIO)

responsible for overseeing all uses of MIS and ensuring that MIS strategically aligns with business goals and objectives

Business Strategy

is a leadership plan that achieves a specific set of goals or objectives such as increasing sales, decreasing costs, entering new markets, or developing new products or services

Competitive Advantage

is a feature of a product or service on which customers place a greater value than they do on similar offerings from competitors.

Evaluates Industry Attractiveness?

Porters five forces model

Evaluates project position

SWOT analysis

Chooses business focus

The three generic strategies

Executes business strategy

Value Chain analysis

SWOT Analysis

strengths, weaknesses, opportunities, threats

Porters Five Forces

threat of entry, threat of substitute, supplier power, buyer power, and competitive rivalry

Three Generic Strategies

Choosing a business focus. Cost leadership, differentiation, and focused strategy.

Business process

a standardized set of activities that accomplish a specific task, such as processing a customer's order

Primary value activities

acquire raw materials and manufacture, deliver, market, sell, and provide after-sales services

Support value activities

firm infrastructure, human resource management, technology development, procurement

Operational Level

-Employees develop, control, and maintain core business activities required to run the day-to-day operations.

-Structured decisions

-Transaction Processing System

Managerial Level

-employees are continuously evaluating company operations to hone the firm's abilities to identify, adapt to, and leverage change

Strategic Level

-managers develop overall business strategies, goals, and objectives as part of the company's strategic plan

Metrics

Measurements that evaluate results to determine whether a project is meeting its goals

Relationship between CSF's and KPI's

Key performance indicators (KPI's) are the metric that show the progress of critical success factors (CSF's)

Efficiency MIS metrics

Measure the performance of MIS itself, such as throughput, transaction speed, and system availability

Effectiveness MIS metrics

measures the impact MIS has on the business processes and activities.

Granularity

The level of detail in the model or the decision-making process

Visualization

produces graphical displays of patterns and complex relationships in large amounts of data

Artificial Intelligence

simulates human thinking and behavior, such as the ability to reason and learn.

Business process model

creating a detailed flowchart or process map of a work process that shows its inputs, tasks, and activities in a structured sequence.

Business Process Model and Notation (BPMN)

a graphical notation that depicts the steps in a business process

As-Is process model

represents the current state of the operation that has been mapped, without any specific improvements or changes to existing processes

To-Be process models

show the results of applying change improvement opportunities to the current (As-Is) process model

Business Process Reengineering (BPR)

the analysis and redesign of workflow within and between enterprises

Workflow

includes the tasks, activities, and responsibilities required to execute each step in a business process

Streamlining

improves business process efficiencies by simplifying or eliminating unnecessary steps

Business Automation

the process of computerizing manual tasks, making them more efficient and effective, dramatically lowering opportunity costs.

Disruptive technology

is a new way of doing things that initially does not meet the needs of existing customers

Sustaining technology

Produces an improved product customers are eager to buy. Like a larger hard drive.

Internet

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

Web (Business) 1.0

Refers to the World Wide Web during its first few years of operation between 1991 and 2003.

Ecommerce

the buying and selling of goods and services over the internet

Ebusiness

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

Mass Customization

tailoring products to meet the needs of individual customers

Disintermediation

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

Clickstream data

exact pattern of a consumer's navigation through a site

Search engine optimization (SEO)

Combines art along with science to determine how to make URLs more attractive to search engines resulting in higher search engine ranking

Pay-per-click

generates revenue each time a user clicks on a link to a retailers website

Pay-per-call

generates revenue each time a user clicks on a link that takes the user directly to an online agent waiting for a call

Pay-per-conversation

generates revenue each time a website visitor is converted to a customer

The internet vs the Web

\-The Internet is the physical network

\-The web is a multimedia interface to the resources available on the Internet. The web is a feature of the internet, or uses the internet.

Four eBusiness models

B2B, B2C, C2B, C2C

Web (Business) 2.0

The next generation of Internet use—a more mature, distinctive communications platform characterized by new qualities such as collaboration internal and external, sharing, and user-contributed content

Source code

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

Closed source

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

Open source

Software that is created for free use by everyone

User-contributed content

content created and updated by many users for many users

native advertising

an online marketing concept in which the advertiser attempts to gain attention by providing content in the context of the user's experience in terms of its content, format, style, or placement

Social media

websites and applications that enable users to create and share content or to participate in social networking.

Blog

A Web log, which is a journal or newsletter that is updated frequently and published online.

Wiki

A collaborative website that can be edited by anyone that can access it.

Semantic web

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

Web (Business) 3.0

Machines being able to understand relationships like humans

-Extended business model into the government aspect

Acting ethically vs legally

these lines a very blurred

Information Ethics

Govern the ethical and moral issues arising from the development and use of information technologies, as well as the creation, collection, duplication, distribution, and processing of information itself

Privacy

the right to be left alone and to be free of unreasonable personal intrusions

Confidentiality

the assurance that messages and information are available only to those who are authorized to view them

Downtime

Refers to a period of time when a system is unavailable

Information security

a broad term encompassing the protection of information from accidental or intentional misuse by persons inside or outside an organization

Hackers

Experts in technology who use their knowledge to break into computers and computer networks, either for profit or just motivated by the challenge

Virus

software written with malicious intent to cause annoyance or damage

First line of defense

people

Authentication

A method for confirming users' identities

Authorization

The process of giving someone permission to do or have something

Three types of MIS infrastructure

Information, Agile, Sustainable

Information MIS Infrastructure

Supports Operations

\-Backup

\-Recovery

\-Disaster Recovery

\-Business Continuity Planning

Agile MIS Infrastructure

supports change; accessibility, availability, maintainability, portability, reliability, scalability, usability

Sustainable MIS Infrastructure

supports sustainability; grid computing, cloud computing, virtualization

Backup

An exact copy of a system's information

recovery

is the ability to get a system up and running in the event of a system crash or failure that includes restoring the information backup

Disaster recovery plan

A detailed process for recovering information or an IT system in the event of a catastrophic disaster such as a fire or flood

Business continuity plan

a plan that specifies how to resume not only IT operations but all business processes in the event of a major calamity

Accessibility

Refers to the varying levels that define what a user can access, view, or perform when operating a system. Part of agile system.

High availability

occurs when a system is continuously operational at all times

Maintainability (flexibility)

refers to how quickly a system can transform to support environmental changes

Portability

refers to the ability of an application to operate on different devices or software platforms.

Vulnerability

a system weakness that can be exploited by a threat. Part of reliability

Scalability

describes how well a system can scale up, or adapt to the increased demands of growth

Serviceability

How quickly a third-party can change a system to ensure it meets user needs and the terms of any contracts, including agreed levels of reliability, maintainability, or availability. A part of usability

Usability

the degree to which a system is easy to learn and efficient and satisfying to use

Moore's Law

Refers to the computer chip performance per dollar doubles every 18 months

Virtualization

storage, network and server

Infrastructure as a Service (IaaS)

delivers hardware networking capabilities, including the use of servers, networking, and storage, over the cloud using a pay-per-use revenue model

Software as a Service (SaaS)

delivers applications over the cloud using a pay-per-use revenue model