Chapter 1 - Intro to MIS

SaaS

:

Management Information System

: A combination of computers and people that is used to provide information to aid in making decisions and managing a firm

Knowledge

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

Transaction processing system

: a system that records transactions - input devices include keyboard, bar code readers, voice recognition - most widely used ISs

Information System (IS)

: all components that work together to process and produce information - automate information exchange among subsystems

E-commerce

: buying selling goods and services through Internet

Decision Process

: collect data, identify problems & opportunities, make decision

Database

: collection of electronic records

Decision Support Systems (DSSs)

: support decision making - Relies in models to produce tables - Extrapolates data to predict outcomes - Helps answer "What if" questions

Expert Systems (ESs)

: supports knowledge intensive decision making - Uses artificial intelligence techniques - Preserve intelligence of retiring experts

E- business

: using internet technologies to conduct any level of business

Information

:Data converted into a meaningful and useful context. Usually to help make decissions

data

:Raw facts that describe the characteristics of an event or object -Can be number statement, or picture -Is the raw material in the production of information