MIS 309 Final Exam

Which of the following is a good example of a system, since removing one part will cause the entire system to stop working?

A car engine

Output:

A hamburger

Inbound logistics

Acquires raw materials and resources and distributes to manufacturing as required

Books:

Amazon

Technology development

Applies MIS to processes to add value

3 goals or objectives that a leadership plan might include to achieve a solid business strategy.

Attracting new customers, Increasing sales, and Decreasing costs

What is a collection of large, complex data sets, including structures and unstructured data, which cannot be analyzed using traditional database methods and tools?

Big data

Input:

Bun, patty, lettuce, tomato

____________ analytics is the scientific process of transforming data into insight for making better decisions.

Business

What is the scientific process of transforming data into insight for making better decisions?

Business analytics

Who is responsible for determining the types of information the enterprise will capture, retain, analyze, and share?

Chief data officer

Three examples of goods:

Clothing, Cars, and Groceries

Process:

Cook the patty, wash and chop the lettuce

Finance

Deals with strategic financial issues including money, banking, credit, investments, and assets

Which statement is accurate when analyzing the relationships between departments in a company?

Departments are dependent and need data from other departments to make solid business decision for the company to operate as a whole

What are the three categories of analytics?

Descriptive analytics, Predictive analytics, Prescriptive analytics

Chief automation officer

Determines if a person or business process can be replaced by a robot or software

Outbound logistics

Distributes goods and services to customers

What changes automatically during creation?

Dynamic report

Three generic business strategies Porter identified for entering a new market

Focused strategy, Broad cost leadership, and Broad differentiation

Production is the process where a business takes raw materials and process or converts them into finished ___________ or services

Goods

The three different names for an MIS department

IS department, IT department, and MIS department

Select the three different names for an MIS department

IS department, MIS department, and IT department

Firm infrastructure

Includes the company format or departmental structures, environment, and systems

What are the two primary resources knowledge workers use to make decisions?

Information and intuition

What is the primary difference between information and business intelligence?

Information primarily focuses on internal variables. BI manipulates multiple variables including both internal and external variables.

What includes the skills, experience, and expertise, coupled with information and intelligence, that creates a person's intellectual resources?

Knowledge

What are the human, structural, and recorded resources available to the organization?

Knowledge assets

Static report types

Last year's salary report and Last year's sales report

Select the accurate statement in terms of MIS

MIS enables business success and innovation

Human resources

Maintains policies, plans, and procedures for the effective management of employees

Chief intellectual property officer

Manage and defend intellectual property, copyrights, and patents

Operations management

Manages the process of converting or transforming resources into goods or services

How will a business estimate the impact on profits from increases or decreases in costs?

Manipulating variables

Three primary value activities:

Marketing and sales, Outbound logistics, and Inbound logistics

Videos:

Netflix

Two terms that represent what is confirmed or validated with a fact

Object and Event

Sales

Performs the function of selling goods or services

What analyzes the competitive forces within the environment in which a company operates to access the potential for profitability in an industry?

Porter's Five Forces Model

What uses past sales data to predict future sales?

Predictive analytics

What is the rate at which goods and services are produced based upon total output given total inputs?

Productivity

Marketing and sales

Promotes, prices, and sells products to customers

Service

Provides customer support after the sale of goods and services

Human resources management

Provides employee training, hiring, and compensation

Procurement

Purchases inputs such as raw materials, resources, equipment, and supplies

Accounting

Records, measures, and reports monetary transactions

Structured data has a defined length, type, and format that includes numbers, dates, or strings such as Customer Address. Which two sources typically store structured data?

Relational database and Spreadsheet

The two benefits a business would experience if it could produce a hamburger with less expensive inputs or produce more hamburgers with the same inputs

Rise in productivity and Increase in profits

What are two sources of unstructured data?

Satellite images and Social media data

What is a view of data at a particular moment in time?

Snapshot

Feedback is information that returns to its original transmitter (input, transform, or output) and modifies the transmitter's actions. What does feedback help the system maintain?

Stability

Who is a person or group that has an interest or concern in an organization?

Stakeholder

A report is a document containing data organized in a table, matrix, or graphical format allowing users to easily comprehend and understand information. What are two common types of reports?

Static reports and Dynamic reports

Business intelligence (BI) is information collected from multiple sources that analyzes patterns, trends, and relationships for strategic decision making.

Suppliers, customers, competitors, partners, and industries

Supplier power is the supplier's ability to influence the prices they charge for ___________.

Supplies

Marketing

Supports sales by planning, pricing, and promoting goods or services

A(n) _________ is a collection of parts that link to achieve a common purpose. Systems are the primary enabler of cross-functional operations.

System

What provides an end-to-end view of how operations work together to create a product or service?

Systems thinking

Three examples of services:

Teaching, waiting tables, and cutting hair

Prescriptive analytics

Techniques that create models indicating the best decision to make or course of action to take

Descriptive analytics

Techniques that describes past performance and history

Predictive analytics

Techniques that extract information from data and uses it to predict future trends and identify behavioral patterns

The person responsible for ensuring the speed, accuracy, availability, and reliability of the MSI is the Chief _________ Officer.

Technology

Two support value activities:

Technology development and Firm infrastructure

Operations

Transforms raw materials or inputs into goods and services

True or false: The truth about information is that its value is only as good as the people who use it. People using the same information can make different decisions depending on how they interpret or analyze the information. Thus, information has value only insofar as the people using it do as well.

True

A(n)__________ is a data characteristic that stands for a value that changes or varies over time.

Variable

Chief user experience officer

Will create the optimal relationship between user and technology

Shoes:

Zappos

Product __________ occurs when a company develops unique differences in its products or services with the intent to influence demand

differentiation

The impact of information technology on the global business environment is equivalent to the printing press's impact on ___________ and electricity's impact on productivity.

publishing