Chapter 2

Question 1

Analytics

Answer 1

The science of fact-based decision making

Question 2

First 3 steps in decision making process

Answer 2

1. Problem identification
2. Data collection
3. Solution generation

Question 3

Last 3 steps in decision making process

Answer 3

4. Solution test
5. Solution selection
6. Solution implementation

Question 4

Metrics

Answer 4

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

Question 5

Critical Success Factors (CSFs)

Answer 5

Crucial steps companies perform to achieve their goals and objectives and implement their strategies

Question 6

Key Performance Indicators (KPIs)

Answer 6

Quantifiable metrics a company uses to evaluate progress toward critical success factors

Question 7

Which is less specific: KPIs or CSFs

Answer 7

CSFs

Question 8

Pyramid from bottom to top

Answer 8

Operational, managerial, strategic

Question 9

Benchmarks

Answer 9

baseline values the system seeks to attain

Question 10

Transactional information

Answer 10

all of the info contained within a single business

Question 11

Customer-facing

Answer 11

external customer receives product or service

Question 12

Business-facing

Answer 12

essential for effective management

Question 13

As-Is process model

Answer 13

identifies bottlenecks and redundancies

Question 14

To-Be process model

Answer 14

designs new process to fix problems from as-is

Question 15

What removes bottlenecks and redundancies

Answer 15

Streamlining

Question 16

Operational

Answer 16

decisions to run day-to-day operations

Question 17

Managerial

Answer 17

Decisions for whole company

Question 18

Strategic

Answer 18

decisions for a strategic path

Question 19

Consolidation

Answer 19

the aggregation of data from simple roll-ups to complex groupings of interrelated information

Question 20

Drill-down

Answer 20

enables users to view details, and details of details, of information

Question 21

Slice-and-Dice

Answer 21

the ability to look at information from different perspectives

Question 22

Efficiency

Answer 22

measures performance of MIS (speed, availability, etc.)

Question 23

Effectiveness

Answer 23

measures impact MIS has on business processes and activities

Question 24

Efficiency metrics

Answer 24

transaction speed, response time, system availability

Question 25

Effectiveness metrics

Answer 25

usability, customer satisfaction, financial

Question 26

CSF examples

Answer 26

reduce price costs
increase customer satisfaction
hire the best

Question 27

KPI examples

Answer 27

turnover rates of employees
number of product returns
number of new customers