ISQS Exam 1

What are the three categories that an IoT device can be put into?

Collecting and Sending Information Receiving and Acting on Information Doing Both

2. The reading suggests that CRM is "equal parts strategy and technology," and that it "is about using data to understand your customers"

yuh

4. The video suggests that "CMR is not a tactic, but a strategy

yuh

3. What should IT managers think about when recommending IT projects? Why?

"If this were my company, would I spend money and use resources of the company to do it? Because business owners want to make a profit, and if they're wasting money on IT projects that aren't using their money properly then they're wasting valuable resources

2. According to the article, business value includes which "very specific" things? List and briefly describe each of these.

1. Increase revenue-The IT organization can be instrumental in helping a company achieve more revenue through innovation 2. Decrease cost- IT organizations offer tremendous financial leverage. In fact the IT organization can provide more leverage than any department in a company. 3. Improve productivity- Eliminate paper Implement business applications to improve processes and productivity Implement video conferencing technologies to reduce travel and improve meeting and training time 4. Differentiate the company- When this happens a company can become more competitive or even have an advantage in selling its products and services. 5. Improve client satisfaction- It is much more profitable to keep a client than it is to replace a client you lose. In most companies the major source of revenue is from existing clients, not new clients.

2. What are the two core ideas upon which SCM is based?

1. The first is that practically every product that reaches an end user represents the cumulative effort of multiple organizations. These organizations are referred to collectively as the supply chain. 2. The second idea is that while supply chains have existed for a long time, most organizations have only paid attention to what was happening within their "four walls." Few businesses understood, much less managed, the entire chain of activities that ultimately delivered products to the final customer. The result was disjointed and often ineffective supply chains.

According to the article, how many hours per day does the average person spend interacting with his or her smartphone?

4

1. How does the video describe CRM "in its simplest form"?

A way to manage leads (potential customers) and existing customers in the most efficient way possible to extract the most value (money)

How big is the Internet of Things? What are some of the estimates regarding its growth (i.e., what are the numbers)?

Big and getting bigger -- there are already more connected things than people in the world. Growth is exponential as of now. We are predicted to have 41.6 billion connected IoT devices by 2025 The next big thing in IoT is apparently going to be industrial and automotive equipment

3. What is one tool the article suggests will help improve the likelihood of IT project success? Briefly describe what this tool does and how it works.

Benefits dependency network, this tool seeks to get managers to identify and map all the changes that they will be required to make if expected benefits and outcomes are going to be delivered.

3. What ways does the video suggest that a company can benefit from CRM? Also, what does a recent survey of users suggest is the impact of using CRM technologies (i.e., what are the numbers)?

Better data organization Enhanced communication Easily share information Catch all leads Know your numbers

4. Understand the following terms and how they are related: big data, data integrity, data model, relational database, primary key, foreign key, data type, SQL, and NoSQL database.

Big data: massively large data sets that conventional data processing technologies do not have sufficient power to analyze them. Data integrity: consistency among the stored data Data model: the logical structure of data items and their relationships. Relational database: data is organized into tables (excel sheet) Primary key: a unique identifier for each record in the table (email would be a good example) Foreign key: a field in one table that connects to the primary key data in the original table. Data type: an attribute of data which tells the compiler or interpreter how the programmer intends to use the data SQL:Structured Query Language, SQL Almost all applications that work with databases make use of SQL as a way to analyze and manipulate relational data. As its name implies, SQL is a language that can be used to work with a relational database. NoSQL database:from the phrase "not only SQL". NoSQL arose from the need to solve the problem of large-scale databases spread over several servers or even across the world.

5. What are some of the hidden costs of ERP implementations? Why might ERP projects fail?

Business process change Organization change management Data migration Custom code

2. Distinguish between the terms: data, information, and knowledge.

Data: Data are the raw facts Information: processed data that possess context, relevance, and purpose. Knowledge: Knowledge can be viewed as information that facilitates action.

what are the three key areas in which IT departments need to be aligned with business needs?

Ensuring security and compliance -Modern companies simply cannot function without the secure and dependable access to data facilitated by the IT organization - Increasing efficiency and productivity - IT makes the business more efficient by optimizing systems streamlining workflows, and generally making everyone's job easier - Gaining competitive advantage - IT must collaborate with the business to leverage emerging technology for competitive advantage, turning strategy into reality.

1. What is an ERP system? What is its scope across an organization?

Enterprise resource planning: software that standardizes, streamlines and integrates business processes across finance, human resources, procurement, distribution, and other departments. ERP systems improve enterprise efficiency and effectiveness

4. What are key features of ERP systems?

Enterprise-wide integration Real time (or near real time) operations A common database. Consistent look and feel

1. List and define each of the components of an information system. What examples does the chapter use to describe some of these components?

Hardware: is the tangible, physical portion of an information system - the part than you can touch Software: comprises the set of instructions that tell the hardware what to do Data: data is a collection of facts for example street, city, state, postal code People: When thinking about information systems, it is easy to focus on the technology components and forget to look beyond these tools to fully understand their integration into an organization Processes: a series of steps undertaken to achieve a desired outcome or goal.

According to the article, which emerging technologies are redefining mobile technology? In what ways are each of these technologies redefining mobile?

IOT, Voice, Virtual reality, AI, Facial recognition. They are redefining mobile by making everything more efficient and everything is now getting connected to each other.

2. What is the goal of CRM?

Improve business relationship with customers, through customer retention and customer acquisition

In your own words, describe what impact the applications of IoT technologies will have on markets?

Industries will continue to boom with the introduction of IoT tech, sooner or later everything will be using IoT.

2. What are reasons businesses use ERP systems?

Integrating financial information Integrating orders Providing insights from customer information Standardizing and speeding manufacturing Standardizing HR information. Standardizing procurement Facilitating government reporting.

3. What are some of the benefits of ERP systems?

Internal efficiency Better decision-making Increased agility Enhanced security

IoT is a "significant driver" of what? Why?

IoT is a significant driver of big-data analytics projects because it allows companies to create vast data and analyze them

In your own words, what does Carlos Sandrea, VP and head of mobile at MediaMath, suggest about new technologies and their impact on mobile?

Mobile is goig to change so much because the new technologies that are being introduced are going to make it completely different. She predicts the physical and Virtual world are going to collide and Augmented reality will be the future.

1. Why are data (singular: datum) important in an information system?

Once we have put our data into context, aggregated and analyzed it, we can use it to make decisions for our organization.

What is one of the biggest issues with IoT? Why?

One of the biggest issues with IoT has to be security. These days it's so easy to hack into someone's device because everything is connected to the internet. Most IoT devices give little thought about security.

3. What are the two main categories of software? What do each do and how are they different?

Operating systems: provides the interface between the hardware and the Application software. Application software: allows the user to perform tasks such as creating documents, recording data in a spreadsheet, or messaging a friend.

2. What are the components of SCM? Briefly describe each of these components (in your own words).

Planning: Enterprises need to plan and manage all resources required to meet customer demand for their product or service. Sourcing:Companies must choose suppliers to provide the goods and services needed to create their product. Making: Supply chain managers coordinate the activities required to accept raw materials, manufacture the product, test for quality, package for shipping, and schedule for delivery. Delivering: Often called logistics, this involves coordinating customer orders, scheduling delivery, dispatching loads, invoicing customers, and receiving payments Returning: The supplier needs a responsive and flexible network to take back defective, excess, or unwanted products. If the produce is defective it needs to be reworked or scrapped. Enabling: To operate efficiently, the supply chain requires a number of support processes to monitor information throughout the supply chain and assure compliance with all regulations.

1. What does the article suggest is the "bottom line"?

The bottom line is that it is all about the business, not about the technology

What are some of the ways the article suggests will help you to create a better relationship with your mobile device? Consider and state how these suggestions will help you specifically (if at all)?

Reframe the way you think about it Set yourself up for success Create speed bumps Pay attention to your body Practice trial separations Use technology to protect yourself from technology Use the sight of other people on their phones as a reminder of your own intentions

1. Supply chain activities cover what, according to this reading?

Supply chain activities cover everything from product development, sourcing, production, and logistics, as well as the information systems needed to coordinate these activities.

1. What is SCM? Also, what is the "extended supply chain"?

Supply chain management (SCM) is the process and activitity of sourcing the raw materials or components an enterprise needs to create a product or service and deliver that product or service to customers. The extended supply chain includes all companies that contribute to a product. This means that the extended supply chain includes the suppliers to your suppliers as well as the customers of your customers.

5. What does the video suggest are some common business problems that a CRM can help to solve?

Swimming in info and cant keep track Losing business because leads are falling through cracks No idea if marketing dollars are helping and hurting your business Waste time finding emails from customers Missing appointments and not following through on your tasks No idea if business is growing or how it's growing

This article describes IoT as "a pretty simple concept." What definition of IoT does the article provide in describing this concept?

Taking all the things in the world and connecting them to the internet.

2. According to the chapter, how can we define what technology is? What components of an information system are categorized as technology?

Technology can be thought of as the application of scientific knowledge for practical purposes. Hardware Software Data

What is the brief history of IoT, and what technologies helped to bring about IoT as we know it today?

The idea of adding intelligence to normal everyday objects in 80s and 90s, production was slow. The adoption of RFID tags which are low power chips that communicate wirelessly. Another factor that helped a lot was the adoption of IPv6 which is essentially an improved IP address

How does the Internet of Things work?

The internet of things is a bunch of devices connected to the internet that can talk to each other in order to solve problems and create efficiency.

What does the article suggest are the main business benefits to IoT?

The main business benefits really depend on how IoT is implemented into an object, but main ones would include efficiency and agility Manufacturers are adding sensors to the components of their products so that they can transmit data back about how they are performing. This can help companies spot when a component is likely to fail and to swap it out before it causes damage. Companies can also use the data generated by these sensors to make their systems and their supply chains more efficient because they will have much more accurate data about what's really going on. "With the introduction of comprehensive, real-time data collection and analysis, production systems can become dramatically more responsive," say consultants McKinsey. And this: The IoT promises to make our environment -- our homes and offices and vehicles -- smarter, more measurable, and... chattier.

3. In what ways are the organizations that make up a supply chain linked together? Describe these ways.

The organizations that make up the supply chain are "linked" together through physical flows and information flows. Physical Flows Physical flows involve the transformation, movement, and storage of goods and materials. They are the most visible piece of the supply chain. But just as important are information flows. Information Flows Information flows allow the various supply chain partners to coordinate their long-term plans, and to control the day-to-day flow of goods and materials up and down the supply chain.

What does the article suggest is the "real power of the Internet of Things"?

The real power of IoT is if said device can do both, Collect and Send information and Receive and Act on Information

What does the article suggest is the "takeaway definition" of IoT? Also, what does the article suggest as to why IoT matters?

The takeaway from IoT is basically spreading the power of the Internet to anything and everything IoT is an investment that will pay off for businesses as time goes on.

Is data privacy an issue for IoT? Why or why not?

Yes,

1. What is CRM and CRM software? What is CRM software used for?

a method for managing a company's interaction with current and potential customers, and storing and analyzing data about past interactions. CRM systems link up information about customers from a variety of sources, including email, websites, physical stores, call centers, mobile sales, and marketing and advertising efforts.

5. What is a database management system? What are some examples?

a software application that is used to create and manage databases, and can take the form of a personal DBMS, used by one person, or an enterprise DBMS that can be used by multiple users Microsoft Access, IBM DB2, Oracle, PostgresSQL, MySQL

Think about your own smartphone usage: Are you below or above the average the article cites? Do you think your own usage is healthy? If not, how do you think you could create a better relationship with your smartphone?

above average, its not the healthiest relationship but nowadays you have to stay connected with the world and everything around you because you will fall behind if you don't. I could limit time on my phone and practice separation periods with it to reduce time.

5. How did Walmart use information technology competitively?

allowed Walmart's suppliers to directly access the inventory levels and sales information of their products at any of Walmart's more than eleven thousand stores. Using Retail Link, suppliers can analyze how well their products are selling at one or more Walmart stores with a range of reporting options. Further, Walmart requires the suppliers to use Retail Link to manage their own inventory levels.

1. According to the article, why have IT projects generally failed over the years?

because the changes required at an organizational and employee level weren't managed effectively

What is the Internet of Things (IoT)? What does the article suggest can be "transformed into an IoT device"? What does the article also suggest are not considered IoT devices?

extending the power of the internet beyond computers and smartphones to a whole range of other things, processes, and environments. Those "connected" things are used to gather information, send information back, or both. The Internet of Things is actually a pretty simple concept, it means taking all the things in the world and connecting them to the internet. A PC or a smartphone aren't considered an IoT device because they are already powered by the internet

4. In what ways can an effective CRM strategy help a business increase revenues?

providing services and products that are exactly what your customers want offering better customer service cross selling products more effectively helping sales staff close deals faster retaining existing customers and discovering new ones

2. Investments in "digital" can be thought of essentially as investments in what? Why might it be important to think about IT projects in this way?

think about investments in digital as essentially investments in change. People can be working towards something constantly rather than an end goal.

3. What is a database, and why is it useful?

transform data into information in order to generate knowledge that can be used for decision making.

3. What does this reading suggest is "one of the most important things to keep in mind about a CRM system"?

ultimately less important than the data you put into it. The more credible and meaningful the CRM data, the more valuable an asset it is for all users. "Garbage in, Garbage out"