Chapter 2 Decisions and Processes Flashcards
operational level decisions
affect day to day operations
operational
structured decisions; ees develop and maintain core business activities
managerial decisions
semi structured; how should the organization achieve the goals and objectives set by strategy, mid level management
managerial
ees are evaluating company operations to better the firms ability to identify and adapt to change
strategic decisions
unstructured; involve higher level issues about the orgs direction
efficiency mis metrics
measure the impact of mis on business processes and activities (ie customer service)
KPI
key performance indicator; quantifiable metrics used to evaluate progress towards a goal
Types of MIS systems for each managerial level
- Operational: TPS (transaction processing system
- Managerial: DSS (decision support systems
- Strategic: EIS (executive information systems
granularity
the level of detail in the model or decision making process
AI
artificial intelligence; simulates human intelligence and behavior like learning and reasoning
machine learning
type of ai that allows computers to learn from their environment / experiences over time
business process
activities that accomplish a task
rpa
robotic process automation; use of ai and machine learning to handle high volume, repetitive tasks rather than hiring an ee to do it
best practices
most successful solutions developed by the organization
critical success factors
steps companies take to achieve their goals and objectives
