MIS Exam 2 study guide

Operational Level

-Day-today business processes -Interactions with customers -Decions: -structured -recurring -can often me automated using IS -IS used to: -optimize processes -understand causes of performance problems

Effects of the Internet

-Increase in competition -Decrease in margins -Increase in caliber and quality -Increase in rate of change

"Leagues see real benefits in daily fantasy sports"

Great for: 1.) Live viewership 2.) Advertising 3.) Content Providers 4.) Real money in imaginary games

Putting the Enterprise System into the Enterprise System

-An enterprise system imposes its own logic on a company's strategy, culture, and organization. -They carry both great rewards but great risks as well. -A speedy implementation of an enterprise system may be a wise business move, but a rash implementation is not. -The companies that stress the enterprise, not the system gain the greatest benefits.

Decision-Making Levels of an Organization

-Executive Level (top) -Managerial Level (middle) -Operational Level (bottom)

Managerial Level

-Functional managers -Monitor and control operational-level activities -Focus: effectively utilizing and deploying resources -Goal: achieving strategic objectives -Manager's Decisions: -semistructured -moderately complex -time horizon of few days to few months -IS can help with: -performance analytics -predictive analysis -providing key performance indicators (KPI)

Hypercube Data Marts

-Marketing -Production -Service -Accounts Receivable -Sales -Distribution -Advertising -Merchandising

Executive Level

-The president, CEO, VPs, board of directors -Decisions: -unstructured -long-term strategic issues -complex and non-routine problems with long-term ramifications IS is used to: -obtain aggregate summaries of trends and projections -provide KPIs across organization

"CEA's 5 Tech Trends for 2015: From Big Entertainment to Small Business"

1.) Big Data 2.) Robotics 3.) Digital Health and Quantified Self -Wearable and other connected devices are now used to track sleep, steps, glucose levels, moods, blood pressure, weight and other personal health and wellness metrics. 4.) Entertainment and Immersive Content 5.) Business Models in the Innovation Economy -Scale -Network Effects -Compressing Diffusion Cycles -Shift to Services -Multi-sided Platforms

Types/Benefits of KM

1.) Corporate politics 2.) KM strategy 3.) Org. culture 4.) Org. processes 5.) Management 6.) Technology

The Decision Making Process

1.) Define the problem. 2.) Identify limiting factors. 3.) Develop potential alternatives. 4.) Analyze the alternatives. 5.) Select the best 6.) Implement. 7.) Establish a control and evaluation system.

9 Tips For Selecting and Implementing an ERP System

1.) Get upper management support. 2.) Make a clear and extensive list of requirements before you start looking at vendors. 3.) Don't forget mobile users. 4.) Carefully evaluate your options before selecting your ERP system. 5.) Get references. 6.) Think before you customize. 7.) Factor in change management. 8.) Appoint an internal ERP product champion 9.) Provide the necessary time and resource for training on the ERP system.

"What We Know, Now About the Internet's Disruptive Power"

How has the internet changed the way business operates? -How we market products and services -How we process payment -How we discover new prospects -Virtual reality driven businesses -New opportunities for crime

OTLP cont.

INSERT, UPDATE, DELETE. Emphasis for OTLP systems is put on very fast query processing, maintaining data integrity in multi-access environments and an effectiveness measured by number of transactions per second.

Open Innovation

In place to help business as well as academics. An approach to innovation that is more distributed. Inflows and outflows of knowledge to accelerate internal innovation, and expand the markets for external use of innovation, respectively.

OLAP cont.

Low volume transactions. Very complex and involve aggregations. Widely used by Data-mining techniques.

Hypercube

Multi-dimensional "cubes" of information that summarize transactional data across a variety of dimensions

Knowledge Management (KM)

The process of capturing, developing, sharing, and effectively using organizational knowledge. It refers to a multi-disciplinary approach to achieving organizational objectives by making the best use of knowledge.

Data Analytics cont.

Track consumer behavior: -what do consumers buy? -How do users interface with a website? -How do you identify design problems? Predictive metrics: -what will consumers buy? -when will demand surge? -credit card companies can predict divorce

OTLP: Online Transaction Processing

a class of information systems that facilitate and manage transaction-oriented applications, typically for data entry and retrieval transaction processing.

OLAP: Online Analytical Processing

a computer-based technique of analyzing data to look for insights. The term cube here refers to a multi-dimensional dataset, which is also sometimes called a hypercube if the number of dimensions is greater than 3.

Paytronix

provides loyalty programs, CRM tools, and data insights to restaurants

Data Analytics

the art and science of examining raw data for the purpose of gaining insight and drawing actionable conclusions about business problems.

Big Data Analytics

the process of examining big data to uncover hidden patterns, unknown correlations and other useful information that can be used to make better decisions