Lesson 1: Business Driven Technology

management information systems (MIS)

A business function, like accounting and human resources, which moves information about people, products, and processes across the company to facilitate decision making and problem solving.

big data

A collection of large, complex data sets, including structured and unstructured data, which cannot be analyzed using traditional database methods and tools.

system

A collection of parts that link to achieve a common purpose.

variable

A data characteristic that stands for a value that changes or varies over time.

report

A document containing data organized in a table, matrix, or graphical format allowing users to easily comprehend and understand information.

static report

A report created once based on data that does not change.

dynamic report

A report that changes automatically during creation.

business unit

A segment of a company (such as accounting, production, marketing) representing a specific business function.

information age

A time when infinite quantities of facts are widely available to anyone who can use a computer.

snapshot

A view of data at a particular moment in time.

systems thinking

A way of monitoring the entire system by viewing multiple inputs being processed or transformed to produce outputs while continuously gathering feedback on each part.

Internet of things (IoT)

A world where interconnected Internet-enabled devices or "things" have the ability to collect and share data without human intervention.

information

Data converted into a meaningful and useful context.

machine-generated data

Data created by a machine without human intervention.

structured data

Data that has a defined length, type, and format and includes numbers, dates, or strings such as Customer Address.

human-generated data

Data that humans, in interaction with computers, generate.

unstructured data

Data that is not defined and does not follow a specified format and is typically free-form text such as emails, Twitter tweets, and text messages.

predictive analytics

Extracts information from data and uses it to predict future trends and identify behavioral patterns.

knowledge workers

Individuals valued for their ability to interpret and analyze information.

business intelligence (BI)

Information collected from multiple sources such as suppliers, customers, competitors, partners, and industries that analyzes patterns, trends, and relationships for strategic decision making.

feedback

Information that returns to its original transmitter (input, transform, or output) and modifies the transmitter's actions.

goods

Material items or products that customers will buy to satisfy a want or need.

information silo

Occurs when one business unit is unable to freely communicate with other business units making it difficult or impossible for organizations to work cross-functionally.

machine-to-machine (M2M)

Refers to devices that connect directly to other devices.

knowledge

Skills, experience, and expertise coupled with information and intelligence that creates a person's intellectual resources.

services

Tasks performed by people that customers will buy to satisfy a want or need.

data aggregation

The collection of data from various sources for the purpose of data processing.

fact

The confirmation or validation of an event or object.

production

The process where a business takes raw materials and processes them or converts them into a finished product for its goods or services.

productivity

The rate at which goods and services are produced based upon total output and total inputs.

analytics

The science of fact-based decision making.

behavioral analytics

Uses data about people's behaviors to understand intent and predict future actions.