Study Guide ITSS3300

Question

Answer

What does MIS stand for?

Management & use of IS to achieve organizational strategies

"Difference between IS

IT, and MIS?","IT = hardware, software, data. IS = IT + procedures + people. MIS = management and use of IS."

What are the five components of IS?

"Hardware, Software, Data, Procedures, People"

Which components of IS are the hardest to change?

People and procedures

Define Data vs Information vs Knowledge.

"Data = raw facts, Information = meaningful organization of data, Knowledge = actionable insights"

Moore's Law

Transistors double → cheaper/faster computing

Bell's Law

New computer class every 10 years → new industries

Metcalfe's Law

Network value ∝ n²

Nielsen's Law

Bandwidth ↑ 50% per year → richer apps

Kryder's Law

"Storage capacity ↑ rapidly, cost ↓"

Robert Reich's non-routine skills

"Abstract reasoning, Systems thinking, Collaboration, Experimentation"

Basic security practices

"Use long passwords, MFA, password managers"

IS supports strategy chain

Industry structure → Competitive strategy → Value chain → Processes → IS

Porter's Five Forces

"New entrants, Suppliers, Buyers, Substitutes, Rivalry"

Porter's Competitive Strategies

"Cost leadership, Differentiation, Focus/Niche"

Primary activities in value chain

"Inbound logistics, Operations, Outbound logistics, Sales/Marketing, Service"

Support activities in value chain

"HR, Technology, Procurement, Infrastructure"

Formula for margin

Margin = Value − Cost

Steps of BPM

Design → Model → Execute → Monitor → Optimize

Ways IS creates competitive advantage

"Switching costs, lock in suppliers, alliances, barriers to entry, cost reduction, enhanced/differentiated products"

Purpose of BI

Analyze operational/external data to provide insights for better decisions

BI Architecture flow

Sources → ETL → Data Warehouse → Data Marts → BI Apps → Users

ETL

"Extract, Transform, Load"

"Difference: Warehouse

Mart, Lake, Lakehouse","Warehouse = structured, Mart = dept-specific, Lake = raw data, Lakehouse = hybrid"

BI Analysis types

"Reporting, RFM, OLAP, Data mining (supervised/unsupervised), Big Data (3 V's)"

RFM stands for?

"Recency, Frequency, Monetary segmentation"

OLAP stands for?

Online Analytical Processing (multidimensional analysis)

Metadata

"Data about data (schema, owner, source). Helps avoid data swamp"

Exception report

Produced when data goes out of predefined bounds; highlights unusual values

Types of AI

"Weak (task-specific), Strong (human-like), Superintelligence (beyond human)"

Drivers of AI growth

"Compute, data, cloud, IoT, breakthroughs"

Impacts of AI

"Automation, efficiency, job displacement, ethical issues"

Typical problems with source data

"Dirty data, Missing values, Inconsistent data, Not integrated, Wrong granularity, Too much data"

Mnemonic IS Components:

Hungry Snakes Do Poor Play

Mnemonic Porter's 5 Forces

"NRBSR: (New entrants, Rivalry, Buyers, Suppliers, Substitutes)"

Mnemonic RFM:

Repeat Frequent Money

Mnemonic ETL:

Eat Tasty Lunch