Meader MIS 180 EXAM 1 COMPLETE

Entropy/Obsolescence

All systems fall apart over time if they don't adapt

recall

% of the relevant documents (pages) that are "out there" and that you found

ROI (return on investment)

(benefits-costs)/costs, a performance measure used to evaluate the efficiency of an investment or compare the efficiency of different investments

data communication, protocol for wifi is..

802.11

General Purpose Application

Electronic Mail Word Processing Database Managers Spreadsheets

Communication Device

Equipment used to send information and receive it in another location

9 qualities dimensions of high-quality information

Intrinsic Dimension -Accurate: Correct, free from error, and reliable -Believable: Regarded as true and credible -Objective: Free from bias -Consistent: Compatible with previous information -Understandable: Easily comprehended Contextual Dimension -Relevant: Applicable and useful for the task at hand -Timely: Available in time to perform the task at hand -Comprehensive: Of sufficient depth and breadth for the task at hand -Current: Sufficiently up to date for the task at hand

Functional Application

Marketing Accounting Finance Human Resource Production/Operations

Business Information Systems

Parts: Data - Text, audio, numbers, video, photo Hardware - Clients, Servers, Routers, Hard Disks, Modems, Cell Towers, Printers, Scanners, Cameras, Microphones Software - Operating Systems, Applications, Utilities, Network systems, Embedded Systems Media - Copper wire, Glass fiber, WiFi, Cell Networks, Satellite , Bluetooth Procedures - Hiring, Manufacturing, Designing, Ordering, Controlling Quality, Selling, Marketing, Raising Funds People - Executives, Managers, Directors, Skilled Professional, Unskilled Labor, Customers, Suppliers, Stockholders

Which function would you use if you wanted to sum a column or row of 50 numbers? If I give you a range, what is the proper format of this calculation? Be able to do this also for finding the average, maximum, and minimum

Sum: =SUM(A1:A50) Maximum: =MAX(A1:A50) Minimum: =MIN(A1:A50) Average: =SUM(A1:A50)/50

Input Devices

Used to capture information and commands Ex: mouse, keyboard

What does the value chain mean, and why is it useful for business analysis?

Value chain analysis: views a firm as a series of business processes each add value to product or service

system

a set of interacting components working together to form a complex, integrated whole in order to achieve some goal by taking inputs and processing them to produce outputs.

subsystem

a system that is part of a larger system

Operating System

manages hardware for the apps

Interdependence

parts depend on each other

Triangulation

taking a "read" from different sources

precision

% of the documents (pages) you found that are relevant to your search goals.

What is the proper format for a calculation if you want to add, subtract, divide, or multiply two numbers by referencing their cell reference?

*these are random cell references, the formula is true for any cell reference Add: = D12+C17 Subtract: = D12-C17 Multiply: = D12*C17

FA: Finance

- cash management -credit management -investment management -capital budgeting -financial forecasting

What is the difference between a customer facing process and a business facing process?

-Customer-facing processes- are the processes that customers see when doing business with the company -Business facing processes- involve everything behind the scenes that goes into providing a good or service to a customer -importance on either varies depending on the company

FA: Human Resources

-compensation analysis -employee skills inventory -personal requirements forecasting

FA: Marketing

-customer relationship management -interactive marketing -sales from automation

Business strategy

-long term -leadership plan that achieves a specific set of goals or objectives -Developing new product/service -Entering new markets-> targets new customers -Increasing customer loyalty** -Attracting new customers -Increasing sales

FA: Productions/ Operation

-manufacturing resource planning -manufacturing execution systems -process control

FA: Accounting

-order processing -inventory control -accounts receivable -accounts payable -payroll -general ledger

Business tactic

-short term -used to achieve a specific set of goals or objectives specifically/tangibly

8 parts of a process or system

1 Purpose, Function, Goals 2 Inputs 3 Processes (that transform inputs) 4 Outputs 5 Control (evaluate the process) 6 Feedback 7 Adjustment 8 How Does the Control Use Feedback?

What are three ways businesses acquire software, and why would a business use one way over another?

1. Build it- you program it 2. Buy it- neither time or expertise to build it 3. Rent it (Cloud)- neither time or expertise but want to pay as you go

What is the proper format/syntax for the IF function?

=IF(logical_test, ["value_if_true"], ["value_if_false"])

information overload

A condition in which information inflow exceeds an individual's processing capacity How to Deal with Overload Filtering: Focus only on a specific task Sample information, don't read it all Modify or Distort new information to make it seem familiar Rely on Habit Oversimplify the complexity of information to make it easier to grasp Queuing by priority Develop Social Networks that do the filtering for you Withdrawal: disconnecting from sources of information (e.g., not checking email, turning off the TV, not surfing the Web)

Fact

A fact is a type of date. Its qualities include: a thing that is indisputably the case a piece of information used as evidence or as part of a report or news article. a statement that is consistent with objective reality or can be proven with evidence the usual test for a statement of fact is verifiability

vertical search engine

A website that indexes information on the World Wide Web in a specialized area. Examples: Amazon - Products Etsy - Crafts / Products Facebook Local - Businesses Houzz - Contractors Indeed - Jobs Pinterest - Everything Yelp - Businesses / Restaurants YouTube - Video Zillow - Real Estate

Meta search engine

All search engines have biases and "blind spots". A meta search engine searches multiple Search Databases Not all web sites are contained within a Search Engine Database Contains URLs plus some summary content; Ranks web pages by some criterion (keyword, popularity, payment) using an algorithm or formula; Users search the database, not the Web directly Spiders are a computer application whose purpose is to find content on the web Most search engine spiders look for relevant content that is organic (more when we get to SEO) They move around the web retrieving URLs or web page data, looking at content and meta tags (although meta tags have lost influence) They then place that information into the search database Example: Google's GoogleBot

Stakeholders in an Enterprise

Are Stakeholders: Partners/Suppliers Government Customers Employees Community Shareholders/Investors Are NOT Stakeholders: Competitors NonCustomers NonSuppliers NonInvestors NonPartners

evaluate information by "usefulness" and "believability"

Before taking the time to assess the believability of information, you should determine whether the information is useful for the task at hand. If the information is not useful, then there is no need to assess its believability. To determine whether information is useful, evaluate whether the information is relevant, appropriate, and sufficiently current. Each of these is a "go, no-go" assessment. At any point, if you evaluate the information as not passing the test, there is no need to go further. For example, if the information is not relevant, you do not need to determine whether it is appropriate or sufficiently current. Believable information is credible, objective, well supported, and comprehensive.

Primary Storage

Computer's main memory. Includes RAM (random access memory), ROM (read only memory), and CPU (central processing unit)

Synergy

Cooperative effort of complementary parts is greater than sum of those individual parts

Information

Data converted into a meaningful and useful context Examples: Best selling product; best customer; worst selling product; worst customer

True/Useful Fact

Example: The sky is blue

False/Misleading Fact

False/Useless Example: The sky is above Misleading Example: The sky is green (when a storm is brewing)

Wittgenstein's "Form of Life" and "Language Games" useful in conducting a successful search

Form of Life The set of interpretations an individual has as a result of their profession or personal experience. On the Web/Internet, you need to learn the Form of Life surrounding an industry, an organization, a group of people. Example: Japanese accountants see a business differently from an American sales rep. Language Games The way people use words based on the situation. On the Web/Internet, you also need to learn how people involved in that Form of Life are playing Language Games. Example: You use words differently when you're talking with: your parent, a recruiter, your best friend.

Object code

Humans can NOT write, read, edit, delete it Computers can only run in this mode Companies become dependent on vendors for upgrades, fees, etc. Company doesn't have to deal w software development Source of revenue for vendors ex. Microsoft office, Oracle

Source code

Humans can write, read , edit, delete it Enables programmers to add custom features and capabilities Enable self-sufficiency for a company- don't have to rely on a vendor to make changes or fixes you need Not supported by vendors

representativeness heuristic

If an idea fits into an existing category well, then humans attribute the characteristics of that category to that new idea. Example: criminals have scary tattoos, that person has an scary tattoo, therefore that person is likely a criminal and I will view him/her as one.

availability heuristic

If something is easy to grasp and understand, then we tend to overestimate the likelihood of being true. Example: What is more likely to get you killed? terrorist, drowning, fire, road accident, homicide Rank: Road accident, homicide, drowning, fire, terrorism, natural disaster You are nearly 10 time more likely to die from "regular" homicide than terrorism. You are nearly 40 times more likely to die from a road accident than terrorism. Source: https://ourworldindata.org/causes-of-death

Business Intelligence

Information collected from multiple sources such as suppliers, customers, competitors, partners, and industries that analyzes patterns, trends, and relationships for strategic decision making Examples: Lowest sales per week compared with the economic interest rates; Best selling product by month compared to sports season and city team wins and losses

FA: IT

Informational Technology - handles all technological problems that arise

Information Literacy

Know when you need more data, information and knowledge; Be able to locate, evaluate and effectively use that data, information, and knowledge

Secondary Storage

Long term storage Ex: external hard drive

What do these functions do? NPER, RATE, PV, FV? You will not have to provide the calculation, just know what the functions do

Nper: number of payments Rate: interest rate To get the monthly interest rate divide by 12 PV: calculates the current (present) value of an investment FV: calculates the future value of an investment

Know what these mean and which is bigger than the other: KB, MB, GB, TB, PB

Petabyte>Terabyte>Gigabyte>Megabyte>Kilobyte Kevin Might Get The Plug (smallest- largest)

3 main problems when evaluating information

Problem 1: Information Overload; The average person today processes more data in a single day than a person in the 1500s did in an entire lifetime. During the first day of a baby's life, the amount of data generated by humanity is equivalent to 70 times the information contained in the Library of Congress. Problem 2: More Variability in Info Quality; Argument 1: in the past professional editorial committees ensured that published information was high quality. Without these professional filters, information - in general - is lower quality because bloggers and others don't have the same professional skill or commitment to high quality information. Argument 2: in the past, professional editorial committees ensured that published information represented their view of the world, which ignored or misrepresented "the whole truth" of the world. Without these professional filters, bloggers and others can publish that "whole truth" from their perspectives. Problem 3: Information evaluation is hard; Humans evaluate information mostly automatically / subconsciously

What's the difference between a relative address and an absolute address? How do you make each in Excel?

Relative (will change when copy/pasted) and Absolute (won't change when copy/pasted) Cell References A1 - both column and row references are "relative" $A1 - the column reference is "absolute" but row reference is "relative" A$1 - Column reference is "relative" but row reference is "absolute" $A$1 - both column and row references are "absolute"

Functional Parts of Enterprise

Sales: performs the function of selling goods or services Accounting: records, measures, and reports monetary transactions Finance: tracks strategic financial issues including money, banking, credit, investments, and assets Human Resources: Maintains policies, plans, and procedures for the effective management of employees Marketing: supports sales by planning, pricing, and promoting goods or services Operations Management: manages the process of converting or transforming or resources into goods or services

general search engine

Search that enable users to search for documents on the World Wide Web Examples: Google Yahoo Bing Ask

Knowledge

Skills, experience, and expertise coupled with information and intelligence that creates a person's intellectual resources Examples: Choosing not to fire a sales representative who is underperforming knowing that person is experiencing family problems; Listing products that are about to expire first on the menu or creating them as a daily special to move the product

What does SWOT stand for, and what do managers use it for?

Strength, Weakness, Opportunity, Threats Used to evaluate project position

CPU

The hardware that interprets and executes the software instructions, shows how hardware devices work together

Clock Speed/GHz

The speed of microprocessors, called the clock speed, often is measured in gigahertz which is 1 billion cycles per second

Output Devices

Used to see results of information Ex: monitor, printer

Open Source Systems

Your company has control of source code that someone else developed With an open source, you have more control, are able to make changes, and have the responsibility of keeping it operating properly

supersystem

a larger system that contains other systems

KPI (Key performance indicator)

a measurable value that demonstrates how effectively a company is achieving key business objectives

perspective

a particular attitude toward or way of regarding something; a point of view.

Process

a series of actions or steps taken in order to achieve a particular end You can measure the performance of a process Ex: how much time to produce a pizza? Ex: how many people does it take to produce a pizza? Ex: when can we expect that pizza???

System

a set of connected processes and characteristics forming a complex whole, or a set of principles or procedures according to which something is done. Doesn't always produce one particular end Ex: produce pizza and employment and rent for landlord and market for food suppliers and...... Not always possible to measure an outcome of a system Ex: can't easily measure how well the food suppliers needs outweigh the employees needs

CSF (Critical Success Factor)

achieve goals and objectives and implement their strategies

Stakeholders

benefit in some way from the operation of that company, which may not include owning stock.

Corroboration

checking one source's story against another source's story

Server Computer

computer dedicated to providing information in response to requests

Client Computer

computer designed to request information from a server

Suboptimization

designed - intentionally - to work less than optimally, but to perfectly serve a higher order system

Application

do specific tasks for users

Google Advanced Search

exact word or phase: site has this specific word/phrase all of these words: site has these words in it none of these words: site doesn't have these words in it site or domain: what website you want source from last update: when site was last edited

Byte

group of eight bits, which operates as a single unit, Represents one character or number Ex. A: 01000001

How do humans create applications? Know these as programming languages: Java, Python, C# and VisualBasic

hey use the "machine language" such as Java, C# and VisualBASIC to create programming commands

Shareholder

owns shares of stock, or equity, of that company All shareholders are stakeholders. Not all stakeholders are shareholders

Benchmarking

practice of comparing business processes and performance metrics to industry bests and best practices from other companies

bias

prejudice in favor of or against one thing, person, or group compared with another, usually in a way considered to be unfair.

Ethernet

protocol to physically connect to a LAN (Local Area Network)

Data

raw facts that describe the characteristics of an event or object Examples: Order date; amount sold; customer number; quantity ordered

cognitive miser

tendency of people to think and solve problems in simpler and less effortful ways rather than in more sophisticated and more effortful ways, regardless of intelligence.

disinformation

the intentional creation and transmission of known false information.

Bit (Binary digit)

the smallest element of data and has a value of either 0 (off) or 1 (on)

If your tasks require the parts and the investment of a new computer

then buy them If not... No need