Chapter 1 (management principles of info systems)
What is the science of fact-based decision making?
Analytics
What refers to devices that connect directly to other devices?
Machine to Machine
MIS is a business function. Which of the following does MIS perform to help aid the company in decision making and problem solving?
Moves information about products Moves information about people Moves processes across the company to improve systems
Which of the below is similar to focused strategy versus broad strategy?
Niche market versus large market
What extracts information from data and uses it to predict future trends and identify behavioral patterns?
Predictive analytics
What are the 2 main categories in a value chain analysis?
Primary value activities & support value activities
In terms of system thinking, what is process?
The computer program that processes the data
What are descriptive analytics?
Use techniques that describe past performance and history
Information is data converted into useful, meaningful context. What are data characteristics that change or vary over time?
Variables
What is big data?
a collection of large complex data sets, including structured and unstructured, which cannot be analyzed using traditional database methods and tools
The sales department needs to rely on information from operations to understand _______.
Demand forecast Inventory Customer orders
What are the 3 primary areas of analytics?
Descriptive, Predictive and Prescriptive analytics
What are the characteristics of unstructured data?
Does not follow a specified format Free-form text Emails, twitter tweets and text messages
How does the text recommend that a company operate if it wants to be successful in the information age?
Interdependently between departments
Which of the following is not a typical way that a company would duplicate a competitive advantages?
Carrying large product inventories
Who is responsible for collecting, maintaining, and distributing company knowledge?
Chief Knowledge Officer (CKO)
According to Fast Company magazine, which of the following executive levels might we see created over the next decade?
Chief automation officer Chief intellectual property officer Chief user experience officer
Cheryl Steffan is the operations manager for Nature's Bread Company, which specializes in providing natural products for health-conscious individuals. Cheryl is responsible for compiling, analyzing, and evaluating daily sales numbers to determine the company's profitability and forecast production for the next day. Which of the following is an example of a piece of data Cheryl would be using to successfully perform her job?
Craig Newmark is customer number 15467
What is data?
Raw facts that describe the characteristics of an even or object
What is knowledge?
Skills, experience, and expertise, coupled with information and intelligence that creates a person's intellectual resources
