Exam 1 Flashcards
(150 cards)
1
Q
Describe the Information Age
A
- Knowledge is power
- Information can take on many forms depending on the context in which it is used
- a time infinite quantities of facts are widely available to anyone who can use a computer
2
Q
examples of the power of business and technology
A
amazon, netflix, zappos
3
Q
Internet of Things (IoT)
A
A world where interconnected Internet-
enabled devices or “things” have the
ability to collect and share data
without human intervention
4
Q
Machine-to-Machine (M2M)
A
Refers to devices that connect
directly to other devices
5
Q
Fact
A
the confirmation or validation of an event or object
6
Q
Data
A
Raw facts that describe a particular phenomenon such as the current temperature, the price of a movie rental, or your age
7
Q
Big data
A
A collection of large, complex
datasets, which cannot be analyzed using
traditional database methods and tools
8
Q
Variety
A
Different forms of structured and unstructured data
9
Q
Veracity
A
The uncertainty of data, including biases, noise and abnormalities
10
Q
structured data
A
Has a defined length,
type, and format and includes numbers,
dates, or strings such as Customer
Address format
11
Q
machine-generated data
A
Created
by a machine without human
intervention
12
Q
human generated data
A
Data that
humans, in interaction with computers,
generate
13
Q
unstructured data
A
not defined, does not follow a specificed format and is typicaly free-form text such as emails, twitter tweets and text messages does not follow a specified format
14
Q
machine-generated unstructured data
A
such as satellite images, scientific atmosphere data, and radar data
15
Q
human-generated unstructured data
A
such as text messages, social media data and emails
16
Q
Volume
A
the scale of data
17
Q
Velocity
A
the analysis of streaming data as it travels around the internet
18
Q
Information
A
- Data that have a meaningful and useful context
- The current temperature becomes information if you’re deciding what to wear; in deciding what to wear, the data describing the price of a movie rental are not pertinent information (and therefore only data in that context).
19
Q
variable
A
a data characteristic that stands for a value that changes or varies over time
20
Q
Knowledge
A
- Facts, information, and skills acquired by a person through experience or education
- the theoretical or practical understanding of a subject.
21
Q
Business Intelligence
A
Collective information about your customers, your competitors, your business partners, your competitive environment, and your own internal operations that gives you the ability to make effective, important, and often strategic decisions
22
Q
What are the key components of Porter’s Five Forces?
A
-Buying power
-Supplier power
-Threat of substitute products or services
-Threat of new entrants
-Rivalry among existing competitors
23
Q
Why is it so important to understand Porter’s Five Forces when making technology decisions?
A
To access technology and the competitive advantage it can yield, many people choose to use Porter’s model because it helps business people understand the relative attractiveness of an industry and the industry’s competitive pressures in terms of the five forces
24
Q
What are Porter’s 3 generic strategies to beat the competition?
A
- Overall Cost Leadership
- Differentiation
- Focus
25
Overall Cost Leadership
offering the same or better quality product or service at a price that is less than what any of the competition is able to do
26
Differentiation
offering a product or service that is perceived as being "unique" in the marketplace
27
Focus
offering products or services to (1) a particular market segment or buyer group, (2) within a segment of a product line, and/or (3) to a specific geographic market
28
What is IT and how is it different from MIS?
- Information technology is any computer based tool that people use to work with information and support the information-processing needs of an organization
- Whereas, MIS deals with the planning for, development, management, and use of information technology tools to help people perform all tasks related to information processing and management.
29
What is Hardware?
consists of the physical devices that make up a computer, for instance: keyboard, mouse, modem, flash, memory drive, or a printer
30
What are the different categories of hardware?
- Input
- Output
- Storage
- Processing
- Telecommunications
- Connecting
31
Input Device
tool used to enter information and commands
32
Output Device
tool used to see, hear, or otherwise recognize the results of your information-processing requests
33
storage device
tool used to store information for a use at a later time
34
Central Processing Unit (CPU)
the actual hardware that interprets and executes the software instructions and coordinates the operation of all other hardware
35
telecommunication device
tool used to send information to and receive it from another person or computer in a network
36
connecting device
includes such things as USB ports into which you would connect a printer and connector cords to connect your printer to the port
37
what is software
the set of instructions your hardware executes to carry out a specific task for you such as creating a graph and surfing the web
38
What are the different categories of software?
application and system software
39
What are the different sizes of computers
- smartphones
-tablet PC's, slates, and E-readers
-notebook computers
-desktop computers
-minicomputers, mainframe computers, and supercomputers
40
Smartphone
cell phone with additional features such as camera, internet connectivity, note taking capabilities, GPS capabilities, and digital music and video players
41
tablet
slim-line handheld computer that is about the size of a notebook or smaller with a touchscreen that has functioning capabilities of notebooks or desktop computers
42
slate
lighter, slimmed-down version of a tablet without a dedicated physical keyboard. (tablet and slate becoming interchangeable terms)
43
e-reader
portable computer designed specifically for reading digitized books and periodicals
44
notebook computers
aka laptop) small, portable, fully functional, battery-powered computer equipped with all of the features of a large desktop computer.
45
desktop computer
most popular choice for personal computing needs
46
minicomputer
designed to meet the computing needs of several people simultaneously in a small to medium size business environment. more powerful than desktop computers
47
mainframe computer
designed to meet the needs of hundreds of people in a large business environment
48
supercomputer
fastest, most powerful, and most expensive type of computer. Used by NASA and the National Weather Service
49
Bit (Binary Digit)
the smallest unit of information that your computer can process
50
Byte
group of eight bits representing one natural language character
51
Kilobyte
equal to 1,024 bytes
52
Megabyte
roughly 1 million bytes
53
Gigabyte
roughly 1 billion bytes
54
Terabyte
roughly 1 trillion bytes
55
Petabyte
roughly 1 million gigabytes
56
What is CPU
Central Processing Unit is the hardware that interprets and executes the system and application software instructions and coordinates the operation of all other hardware.
57
What are the different ways devices attach to computer?
-Wired connections: USB port, Firewire ports, PS/2 ports, DVI, and VGA
-Wireless connections: Infrared, Bluetooth, and WiFi
-Expansion cards and slots
58
The four most important implementations of business processes companies can use to support their business strategies are:
1.) Supply chain management
2.) Customer relationship management (CRM)
3.) Enterprise resource planning
4.) Social media
59
Why is IT an important part of an organization's overall strategy?
IT can give companies a competitive advantage against their competitors allowing them to excel above the rest of the industry
60
What is a SCM (supply chain management) system?
system that tracks inventory and information among business processes and across companies
61
What is a CRM (customer relationship management) system?
system that uses information about customers to gain insights into their needs, wants, and behaviors in order to serve them better
62
What is e-collaboration?
process of monitoring, critiquing, and cooperating in a project or a program by using internet, emails, groupware, etc.
63
What is ERP (enterprise resource planning) system?
system that is a collection of integrated software for business management, accounting, finance, HR management, project management, inventory management, service and maintenance, transportation, e-business, and supply chain management
64
What is IT culture?
the collective beliefs and abilities of a group of people regarding their knowledge and capabilities of using information technology
65
How does the IT culture of an organization shape the role of IT in an organization?
If an organization has culture in which IT is present and familiar, they will be able to put their IT resources to the best use.
66
Why do organizations store data?
to analyze and process it in the future
67
What determines the logical structure of a database?
A data dictionary contains the logical structure for the information in a database
68
What is the most popular type of database?
Relational database
69
What are the 2 parts of a relational database?
1.) the information itself, stored in a series of two-dimensional tables, files, or relations
2.) the logical structure of that information
70
Tables, rows, columns, fields
refer to physical locations of data within a spreadsheet
71
What is a primary key?
field or group of fields that uniquely describe each record (ex: customer number is the primary key for the customer file)
72
What is a foreign key?
a primary key of one file that appears in another file
73
What is the purpose of a primary key?
to create ties or relationships in the information that show how the files relate to each other
74
What is the purpose of a foreign key?
without them, you have no way of creating logical ties among the various files
75
How are primary and foreign keys similar/different?
Primary keys uniquely describe each record.
Foreign keys create a logical relationship between two files.
76
What is the purpose of the data dictionary?
contains the logical structure for the information in a database
77
What is a DBMS (database management system)?
helps specify the logical organization for a database and access and use the information within a database. (5 parts)
78
5 Parts of a DBMS
1.) DBMS engine
2.) Data definition subsystem
3.) Data manipulation system
4.) Application generation subsystem
5.) Data administration subsystem
79
DBMS engine
accepts logical requests from various other DBMS subsystems, converts them into their physical equivalent, and actually accesses the database and data dictionary, as they exist on a storage level
80
Data definition subsystem
helps create and maintain the data dictionary and define the structure of the files in a database
81
Data manipulation system
helps add, change and delete information in a database and query it for valuable information
82
Application generation subsystem
contains facilities to help develop transaction-intensive applications
83
Data administration subsystem
helps manage the overall database environment by providing facilities for backup and recovery, security management, query optimization, concurrency control, and change management
84
How is a data warehouse different from a database?
A data warehouse is a logical collection of information gathered from many different operational databases used to create business intelligence that supports business analysis activities and decision-making tasks
85
What are data warehouses used for?
A data warehouse is simply the next step (beyond databases) in the progression of building business intelligence and it supports intriguing, necessary, and complex queries to create business intelligence
86
What is data mining?
Data-mining tools are the software tools used to query information in a data warehouse. Essentially they are the tools used to mine data a data warehouse and extrapolate the business intelligence you need to make a decision, solve a problem, or capitalize on an opportunity to create a competitive advantage
87
What is business intelligence (BI)?
Collective information about your customers, your competitors, your business partners, your competitive environment, and your own internal operations, that gives you the ability to make effective, important, and often strategic business decisions.
88
Why is the quality of data in a database important? How do you make sure it is "good" quality?
The quality of data is important because false data can cause the wrong decisions to be made. Integrity constraints are rules that help ensure the quality of the information
89
What is a network?
two or more computers connected so that they can communicate with each other and share information, software, peripheral devices, and/or processing power
90
How do networks connect/computers connect to a network?
-Each computer on a network must have a network interface that provides the entrance or doorway in that computer for the information traffic to and from other computers.
-A network usually has at least one connecting device that ties the computers on the network together and acts as a switchboard for passing information.
-There must be communications like cables or radio waves connecting network hardware devices. The communications media transport information around the network between computers and the connecting devices.
-Each computer must have software that supports the movement of information in and out of the computer. This could be a modem software and /or a network operating system.
91
What is an IP (Internet Protocol) address?
the number assigned to a network-equipped piece of hardware by which other devices identify it
92
What is bandwidth?
The amount of information that a communications medium can transfer in a given amount of time.
**The most common type of measurement used when comparing different types of communications media. (refers to capacity of the communications medium)
93
How are networks defined in terms of distance covered?
-LAN
-WAN
-MAN
94
LAN
Local Area Network - covers a building or buildings in close proximity, such as one campus of a university or corporation
95
WAN
Wide Area Network - set of connected networks serving areas or buildings not in immediate proximity to each other
96
MAN
Metropolitan (or Municipal) Area Network - relatively recent term for a specific type of WAN. It is a set of connected networks all within the same city or metropolitan area, but not in immediate proximity to each other.
97
What are the different ways a network can connect to the internet?
-Dial-up circuits: using an ordinary telephone line and a modem
-Digital Subscriber Line (DSL): runs a high-speed connection over a telephone line without interfering with the voice telephone service
-Cable modem: runs a high-speed connection over a cable television line without interfering with television reception
-Satellite modem: runs a high-speed connection through your cable TV satellite without interfering with your television reception
-T1 and DS3: dedicated high-speed lines, which run on separate circuits and are generally used for business connections
98
What are the key issues related to network security?
-Confidentiality
-Authenticity
-Integrity
-Availability
99
Confidentiality
means that information can be obtained only by those authorized to access it
100
Authenticity
means that information really comes from the source it claims to come from
101
Integrity
means that information has not been altered
102
Availability
means simply that a service or resource is available when it's supposed to be
103
What is MIS?
MIS deals with the planning for, development, management, and use of information technology tools to help people perform all tasks related to information processing and management
104
What role does MIS play in organizations?
The real focus of MIS is on how people use technologies to work with and massage information to help an organization achieve its goals
105
What are the three key resources that MIS focuses on?
MIS deals with the coordination and use of three very important organizational resources: information, people, and information technology
106
dynamic report
changes automatically during creation
107
report
A document containing data
organized in a table, matrix, or graphical
format allowing users to easily
comprehend and understand information
108
static report
created once based on data that does not change
109
analytics
the science of fact-based decision making
110
business analytics
The scientific process of
transforming data into insight for making better
decisions
111
data scientist
Extracts knowledge from data by
performing statistical analysis, data mining, and
advanced analytics on big data to identify trends,
market changes, and other relevant information.
112
descriptive analytics
descrives
113
diagonstic analytucs
examines data asks the question why?
114
predictive analytics
extracts information from data and uses it to predict future trends
115
prescriptive analytics
creates models including the best decision to make or course of action to take
116
knowledge assest
human resources
117
knowledge facilitators
help harness wealth
118
knowledge worker
people who analyze information
119
data silo
occurs when on business unit is unable to freely communicate with other business units
120
data democratization
the ability data to be collected, analyzed and accessible to all users
121
goods
material items such as cars and clothing
121
services
tasks performed by people ex: teaching
122
system thinking
a way of monitoring the entire system by viewing multiple inputs being processed
123
Chief information officer
information and
ensures the strategic alignment of MIS with business
goals and objectives.
124
chief data officer
Responsible for
determining the types of information the enterprise will
capture, retain, analyze, and share
125
chief technology officer
Responsible for
ensuring the throughput, speed, accuracy, availability,
and reliability of information
126
competitive advantage
product
or service that an organization’s
customers place a greater value on
than similar offerings from a
competitor
127
first-mover advantage
Occurs
when an organization can
significantly impact its market share
by being first to market with a
competitive advantage
128
SWOT
- strengths, weaknesses, opportunities and threats
129
buying power
buyers to affect the price of an item
130
switching cost
manipulating costs that make customers reluctant to switch to another product
131
loyalty program
rewards customers based on the amount of business they do with a particular organizatio
132
supply chain
all parties involved in the procurement of a product or raw material
133
Threat of new entrants
High
when it is easy for new competitors
to enter a market and low when
there are significant entry barriers
134
entry barrier
A feature of a
product or service that customers
have come to expect and entering competitors must offer the same for survival.
135
value chain analysis
views a firm as a series of business processes that each add value to the product or service
136
inbound logistics
acquires raw materials and resources
137
operations
raw materials into goods and services
138
outbound logistics
distributes goods and services to customers
139
marketing and sales
promotes prices and sells products to customers
140
service
provides customer support
141
firm infrastructure
includes the company format or departmental structures, environment and systems
142
human resource management
provides employee trainning, hiring and compensation
143
technology development
applies MIS to processes to add value
144
procurement
purchases inputs such as raw materials, resources, equipment and supplies
145
operational level
employees develop, control and maintain core business activities
146
managerial level
employees evaluate company operations to identify and leverage change
147
strategic level
managers develop overall strategies
148
criitcal sucess factors
steps companies make to perform to achieve their goals
149
key performance indicators
metrics a company uses to evaluate progress
