ISQS Prep

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?" Forces IT Managers to start thinking like business owners and set aside the technology aspect of things.

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

1. Increase revenue- Achieve revenue through innovation- new products in a companies portfolio 2. Decrease cost- Only department to reduce cost or increase productivity 3. Improve productivity- Eliminate paper, Implement business applications to improve processes and productivity, use of video meeting calls, etc. 4. Differentiate the company- Tech can differnitate a company from it's competition leading to an advantage in selling products. 5. Improve client satisfaction- A major source of revenue in most companies comes from existing customers. IT helps keep existing customers as opposed to losing some and trying to regain new ones.

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

A database management system is 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 Examples: Microsoft Access, IBM DB2, Oracle, PostgresSQL, MySQL

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

A way to manage leads

1. What non-routine cognitive skills does the chapter list that will help you to stay marketable into the future? Why might each of these skills be important to you and your future career?

Abstract reasoning- Construct a model or representation. Systems thinking- Model system components and show how components' inputs and outputs relate to one another Collaboration- Develop Ideas and plans with others. Provide and receive critical feedback. Ability to experiment- Create and test promising new alternatives, consistent with available resources

Which of the following are some of the steps needed to future-proof your career?

BecomeTech Fluent, Get Ready for lifelong learning, Accept change as the new normal, Hone your unique human skills.

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.

What are reasons businesses use ERP systems?

Businesses use ERP systems by integrating financial information, integrating order, providing insights from customer information, standardizing and speeding manufacturing, standardizing HR information, standardizing procurement, & facilitating government reporting.

_____ means consistency among the stored data.

Data Integrity

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

Data are the raw facts, and may be devoid of context or intent. For example, a sales order of computers is a piece of data. Data can be quantitative or qualitative. Qualitative is descriptive- not the result of measurement or mathematical calculation. Information is processed data that possesses context, relevance, and purpose. For example, monthly sales calculated from the collected daily sales data for the past year are information. Information typically involves the manipulation of raw data to obtain an indication of magnitude, trends, in patterns in the data for a purpose. Knowledge in a certain area is human beliefs or perceptions about relationships among facts or concepts relevant to that area. For example, the conceived relationship between the quality of goods and the sales is knowledge. Knowledge can be viewed as information that facilitates action.

What are some of the benefits of ERP systems?

ERP improves business performance in several ways. Specifically, they enable internal efficiency, promote better decision-making, create increased agility, and enhance security.

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

ERP is software that standardizes, streamlines and integrates business processes across finance, human resources, procurement, distribution, and other departments.

According to the article, what are the three key areas in which IT departments need to be aligned with business needs? For each area, why might this alignment be needed?

Ensuring security and compliance- Effective data security requires dialogue and collaboration between the business and IT management Increasing efficiency and productivity- For employees to work at peak performance, they must have the right tools in an optimal digital workspace with everything owing together to form a collaborative and productive business environment. EX: Set up a VPN when working from home Gaining competitive advantage- Businesses that embrace, rather than fear, these technological disruptions can exploit them for competitive advantage. Must work with IT to turn strategies into realities.

According to the readings, what are the most common features of ERP systems?

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

It's all about the technology, and not about the business.

False

What are key features of ERP systems?

Features include an ability of enterprise-wide integration, real time (or near real time) operations, a common database, and consistent look and feel.

List and define each of the components of an information system.

Hardware- The part you can touch. Computers, keyboards, disk drives, and flash drives are all examples of information systems hardware. Software- Can't touch, Operating Systems and Application software. Data- Data is a collection of facts, your phone number, and your social networking account are all pieces of data People- Processes- A process is a series of steps undertaken to achieve a desired outcome or goal.

This reading suggests some reasons why SCM is important. What are these?

Identifying potential problems before they occur. Optimizing price dynamically. Improving the allocation of available to promise inventory.

What is the goal of CRM?

Improve business relationships through customer retention and customer acquisition

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)?

Keeping track of information, marketing dollars helping or hurting, wasted time, how business is growing

According to the prep material, LAN is an acronym for which of the following?

Local Area Network

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 product 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.

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

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.

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

Supply chain management (SCM) is the process and activity 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.

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

The video suggests that "CMR is not a *Blank* but a *Blank*"

Tactic, Strategy

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, and Data

What are the salient points about the role of information systems from the "PC Revolution" to the present day

The PC Revolution: Its immediate popularity sparked the imagination of entrepreneurs everywhere, and there were soon dozens of companies manufacturing these "personal computers." Led to growing sales. Client-Server: businesses began to connect their computers as a way to collaborate and share resources .This networking architecture allowed users to log in to the local area networks from their PC by connecting to a central computer called a server (rise of e-mail). Internet/E-Commerce - The computer evolved from a purely computational device into a world of digital communications. The world became truly "wired" heading into the new millennium, ushering in the era of globalization as virtually all companies connected to the Internet. Web 2.0 - Websites became interactive. Instead of just visiting a site to find out about a business and then purchase its products, customers wanted to be able to customize their experience and interact online with the business. The Post-PC World - Computer sales have dropped while smartphone sales have accelerated, due largely to their mobility and ease of operation New innovative technologies like cloud computing are changing how we use IT.

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

The bottom line is that it is all about the business, not about the technology. Widely accepted misconception, however, it's actually the exact opposite.

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

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. 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.

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

The four factors that are commonly underestimated during project planning include a change in the business process, change in organization management, data migration, custom code.

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 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.

The tool that will help improve the likelihood of IT project success is the benefits dependency network (BDN). 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. It also illustrates very clearly how this change will be enabled and shaped by digital technologies. The model shows how technology and business will relate to each other, how one change will affect another area, and how connected they all are to each other.

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?

They can essentially be thought of as investments in change. Can dictate how a company interacts with its customers, in operational processes, in business models, and supply chain relationships, and how employees can use that information to generate insights.

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.

Which of the following are some of the skills needed to future-proof your career?

Trendspotting, Collaborating in new ways, Building Brands, even as employees, Learning next level technology, and Developing your emotional intelligence.

CRM is a strategic process that helps you better understand your customers' needs and how to meet those needs and enhance your bottom line.

True

Knowledge can be viewed as information that facilitates action.

True

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

True

When IT projects fail, it is usually not because the technology does not work, but because the changes required at an organizational and employee level were not managed effectively.

True

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

Two main categories of software are Operating Systems and Application software. Operating Systems software provides the interface between the hardware and the Application software- Microsoft Windows. Application software allows the user to perform tasks such as creating documents, recording data in a spreadsheet, or messaging a friend.

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.

How did Walmart use information technology competitively?

Walmart's competitive rise to prominence is due in large part to making information systems a high priority, especially in their Supply Chain Management (SCM)- IT allowed suppliers to access inventory levels and how quickly a product would sell. Helped determine what to buy and what not to buy.

What does the article suggest are some of the advantages and benefits of gaining technical skills?

With Competence Comes Confidence, Leverage Technology to Add Value to The Bottom Line, Technological Expertise Leads to Significant Savings, and Create an Empowered Workplace. technical skills make for more efficient employees, who are confident in their abilities, making them valuable candidates for employers.

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

Without data, hardware and software are not very useful! Data is the third component of an information system.

According to the article, what are some ways that you can gain technical skills?

You can invest in a training subscription for IT skills and add more certificates to your resume, you can invest in your soft skills, and you can even take courses in your spare time that will help you become better at your job and qualify for a promotion.

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.

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

when IT projects fail, it is usually because the changes required at an organizational and employee level weren't managed effectively. Not the technology's fault.