Exam 2 Management 3300 mizzou christianson

The Lost Puppy Close

"I guess I didn't do my job very well."

The If-Then Close

"If I could demonstrate how an XYZ model provides you with, (things you know are important based on the prospect needs assessment) then would you be willing to... demo, rent, buy, switch, etc."

The Process Of Elimination Close

"So you like the model, you have use for it, it's not too expensive!"

The Ask For It Close

"What do we need to do to get this model into your organization?"

The Either Or Close

"Will that be cash or charge?"

Cybersquatting

(also known as domain squatting), according to the United States federal law known as the Anticybersquatting Consumer Protection Act, is registering, trafficking in, or using an Internet domain name with bad faith intent to profit from the goodwill of a trademark belonging to someone else. The cybersquatter then offers to sell the domain to the person or company who owns a trademark contained within the name at an inflated price.

Meta Data

- Where you took a photo • Who you called and for how long • Who did you send an email to and when did you send it. • When you login to facebook, snapchat or tinder. • How long your car was turned on • etc, etc, etc.

Big Bang: Advantages

-Few or even no interfaces between legacy systems and the new application are needed because all modules go live at the same time. • The project members' motivation is high. • It is highly efficient, because redundant customizing is avoided.

Retrieving Information

-Structured query language (SQL) • Interactive voice response (IVR) • Natural language interfaces

Data Warehousing

-The data warehouse provided the ability to support decision making without disrupting the day-to-day operations. -Used for business analysis

Lower trade barriers

-enable companies to view the world as a single market and establish production activities in optimal locations around the globe • This has led to an acceleration in the volume of world trade and investment since the early 1980s

Steps to creating an ERD

1. Identify entities (tables) 2. Identify attributes for each entity 3. Identify or create Primary Key fields 4. Determine the relation between entities 5. Determine any Cardinality constraints (optional vs mandatory) 6. Draw the ERD (in pencil) 7. Check the ERD (write out what the diagram is telling you and make sure that was what you wanted).

Big Data

An accumulation of data from: • Company Employees entering data • Users entering their own data • Machines/Computers are accumulating data Colossal amounts of data being generated. So much data that we can't load the dataset on one computer, server. In order to compensate, we use parallel processing *

Cardinality

• Cardinality expresses the number of records in an entity to which other record(s) in a different entity can be associated via the relationship between the two entities • Cardinality Constrains - The number of records of one entity that can or must be associated with each record of another entity. • Minimum Cardinality • If zero, then optional • If one or more, then mandatory • Maximum Cardinality • The maximum number of records in an entity that relate to one record in another entity.

The Entity Relationship (ER) Model

• ER model forms the basis of an ER diagram • ERD represents conceptual database as viewed by end user • ERDs depict database's main components: - Entities - Attributes - Relationships

First Normal Form (1NF)

• First normal form (1NF) - where each field in a table contains different information • A table is in first normal form (1NF) if the data are stored in a two dimensional table with no repeating groups • Example: - ORDER(Customer Number, First Name, Last Name, Street, City, State, Zip, Phone, Order Date, Item Number, Title, Price, Has Shipped)

Many-to-Many

• Many-to-many relationships need to be replaced with a collection of one-to-many relationships • An entity must represent the relationship

two business-critical integrity constraints for an ordering system

• Product returns are not accepted for fresh product 15 days after purchase • A discount maximum of 20 percent

Big Bang: Disadvantages

• The implementation is complex due to the increased need for coordination and integration. • It is resource intensive over a short period of time. • All employees are subject to higher stress levels at the same time. • A high degree of consulting support is required.

Rollout: Advantages

• There is valuable experience gained by project members from initial adoption of the system by certain groups • Expertise is available for a fast implementation. • Costs are kept low because only limited resources are needed.

Third Normal Form (3NF)

• Third normal form (3NF) - when the relation is in second normal form and there are no transitive dependencies • The relation needs to broken down into two smaller relations: - ITEM(Item Number, Distributor Number) - DISTRUBUTOR(Distributor Number, Warehouse Phone Number)

Registering a new domain name

• To register a domain name, you have to use a Domain Name Registrar. These are companies who are authorized to grant you the right to use a domain name. They also make sure that all the DNS servers know how to translate your domain to an IP address. • Some entity (a person or a company) must be the "holder" of the domain name. You can lookup information about an existing domain using a "WhoIS" service like https://whois.icann.org/en • There are ways to "hide" your registration of a domain name. Most methods are hidden from common view, but are not anonymous. i.e., Governments can get a warrant and obtain the information about who registered a domain.

two relational integrity constraints for an ordering system

• Users cannot create an order for a nonexistent customer • An order cannot be shipped without an address

The Difference Between the RFP and the RFI

RFP • Small number of final vendors, 4 or less • Comprehensive • Information gathering tool on specific vendors • Asks for pricing RFI • Large number of potential vendors > 5 • Limited in scope • Information gathering tool on the industry • May not ask for pricing

Edgar F. Codd

Relational Databases

Structured query language (SQL)

SQL uses queries to retrieve records, insert and edit data, and delete records.

Custom (ERP Implementation Strategy: Features)

Select the appropriate modules and then build custom apps/custom changes to meet your specific need.

Vanilla (ERP Implementation Strategy: Features)

Select the modules you want and use them right out of the box. Use software's configuration tables for customizing. • Finance/accounting: General ledger, accounts payable, etc. • Human resources: Personnel administration, payroll, etc. • Manufacturing/production: Purchasing, shipping, etc. • Sales/marketing: Order processing, billing, sales planning, etc.

"Moore's law"

the observation that, over the history of computing hardware, the number of transistors in a dense integrated circuit doubles approximately every two years.

Shrinkage

the portion of inventory that gets lost, stolen, damaged or misplaced. Shrinkage rate is expressed as a percentage based on the value of lost inventory divided by sales during the same period. Keeping your shrinkage rate low is critical to success in business.

If someone else already owns that domain name...

you can contact them and ask if they will sell.

ERP Growth

• 1970s & 1980s - more development than growth • 1990s - became widely adopted by large firms • Late 1990s - growth exploded with fears of Y2K problems • Post-2000 - growth slowed • Saturated market, economy dipped • Seeking to • Fill in gaps with larger firms • Make products useful for smaller firms • Emphasize Internet

Radio-frequency identification (RFID):

A technology used to reduce shrinkage throughout a supply chain

Customer Relationship Management: Highrise

Benefits: • Easy to use and learn - little to no staff training required • Contacts accessible online in one place for all members of staff • Different levels of assignable "Group" security • Sales staff can record all interactions with a client • You can track deals in the pipeline and deal outcomes • Easy to export/import contact information • You can automate and track account/client follow ups (anf have them delivered via email) • You can copy emails to a "dropbox" and have them automatically assigned to a client/case

Customer Relationship Management: SalesForce

Benefits: • Flexibility. Can be adapted and customized for an organizations needs and workflow. • Lots of integration with other software via an API • Cloud-based. Can get started today • Complex system, but has lots of training available for different types of users.

Parallel adoption (ERP Implementation Strategy: Timing)

Both the legacy and new ERP system run at the same time. Users learn the new system while working on the old.

Supply chain management

encompasses the planning and management of all activities involved in sourcing and procurement, conversion, and all logistics management activities. Importantly, it also includes coordination and collaboration with channel partners, which can be suppliers, intermediaries, third party service providers, and customers. In essence, supply chain management integrates supply and demand management within and across companies.

Rollout (ERP Implementation Strategy: Timing)

Changeover occurs in phases over an extended period. Users move onto the new system in a series of steps. • Phased rollout by module • Phased rollout by business unit • Phased rollout by geography

unstructured information

has no inherent structure or order, and the parts can't be easily linked together. It is more difficult to break down, categorize, organize, and query. Drawing information out of unstructured collections presents challenges.

The Supply Chain Operations Reference (SCOR) model

illustrates five processes that underlie successful management of a next generation supply chain (Plan, source, make, deliver, return)

The Internet Corporation for Assigned Names and Numbers (ICANN)

nonprofit organization responsible for coordinating the maintenance and procedures of several databases related to the namespaces of the Internet, ensuring the network's stable and secure operation

Manage Objections

Handle sales objections by addressing your prospect's concerns about your product or service in order to create technical, organizational, and personal buy-in.

Frequency

How frequently a customer purchased items

Monetary Value

How much a customer spends on each purchase

Recency

How recently a customer purchased items

Present Offer

If you consider your product/ service in terms of how it benefits the customer, your presentation will be a focused and relevant dialogue rather than a self aggrandizing monologue

Big Bang (ERP Implementation Strategy: Timing)

Implementation happens in a single instance. All users moved to new system on a given date

When is a NULL Value not ever ever ever allowed?

In key fields

Primary Key

Indicates uniqueness within records or rows in a table. -Primary keys ideally composed of only single attribute attribute • Modern Database Management Software can auto-number Primary Keys (1,2,3,4....) and make sure they are unique

Rollout: Disadvantages

Longer time to ROI • Multiple Training sessions. • Lots of interfaces between legacy systems and the new application are needed.

Foreign direct investment (FDI)

occurs when a firm invests resources in business activities outside its home country

Search Engine Optimization (SEO)

organic search

Purchase Ads (Search Engine Marketing or SEM)

paid search.

Statistical analysis

performs such functions as information correlations, distributions, calculations, and variance analysis

Selling

process involving the interaction between a potential buyer and a person hired by a company to sell its products to potential buyers.

Password

provides authentication of the user

Repeat Sales and Referrals

The Sales Cycle continues with turning your sale into a reoccurring customer for other products and asking for referrals from that customer, giving you new prospects for selling.

Why is the ability to look at information based on different dimensions critical to businesses success?

The ability to look at information from different dimensions can add tremendous business insight by slicing-and-dicing the information a business can uncover great unexpected insights

stored attribute

The attribute that is used to derive the attribute

Data Dictionary

The data dictionary stores definitions of information types, identifies the primary and foreign keys, and maintains the relationships among the tables. The structure of a relational database is stored in the database's data dictionary, or catalog

Prospecting

The key to prospecting effectively is to distinguish between a lead, a prospect, and a qualified prospect. An important element in this step is to create a profile of existing customers.

Data Warehouse vs. Database

The primary difference between a database and a data warehouse is that a database stores information for a single application, whereas a data warehouse stores information from multiple databases, or multiple applications, and external information such as industry information

extract, transform, and load (ETL).

The process used to build a data warehouse

Database Administrator (DBA)

The role may include capacity planning, installation, configuration, database design, migration, performance monitoring, security, troubleshooting, as well as backup and data recovery.

Bill Inmon

recognized by many as the father of the data warehouse.

Association detection

reveals the degree to which variables are related and the nature and frequency of these relationships in the information

Business-critical integrity constraint

rule that enforce business rules vital to an organization's success and often require more insight and knowledge than relational integrity constraints

Relational integrity constraint

rule that enforces basic and fundamental information based constraints

Null Value

There are cases where an attribute does not have an applicable value for an attribute. For these situations, the null-valued attribute is created Example: A person who does not have a mobile phone would have null stored at the value for the Mobile Phone Number attribute

Closing

This stage is about advancing the sales process to ultimately get an order. You must ultimately ask for the order and no sales conversation should ever end without an agreement to some next step. Do not be satisfied with "we'll get back to you."

Identify Needs

To be a highly effective salesperson you have to sell to the prospect's needs, so you first have to understand what those needs are

semi-structured information

shows at least some structure.

Foreign Key

the Primary key from another table, this is the only way join relationships can be established.

structured information

Usually considered to be facts and data. It is reasonably orderly, and can be broken down into component parts and organized into hierarchies.

derived attribute

attribute that can be calculated using the value of another attribute - not stored in the file, but can be derived when needed from the stored attributes.

Composite attributes

can be divided into smaller subparts, which represent more basic attributes that have their own meanings Example: Address Address can be broken down into a number of subparts, such as Street, City, State, Zip Code

Data mart

contains a subset of data warehouse information

Access control

determines types of user access, such as read-only access

Access level

determines who has access to the different types of information

Typosquatting

a form of cybersquatting/DNS Hacking, and possibly brand jacking, which relies on mistakes such as typos made by Internet users when inputting a website address into a web browser. Should a user accidentally enter an incorrect website address, they may be led to any URL (including an alternative website owned by a cybersquatter. e.g., "Gooogle.com" instead of "Google.com".

Data visualization

a general term that describes any effort to help people understand the significance of data by placing it in a visual context. Patterns, trends and correlations that might go undetected in text-based data can be exposed and recognized easier with data visualization software.

The Uniform Domain-Name Dispute-Resolution Policy (UDRP)

a process established by the Internet Corporation for Assigned Names and Numbers (ICANN) for the resolution of disputes regarding the registration of internet domain names. The UDRP currently applies to all generic top level domains (.aero, .asia, .nyc, etc...), [1] some country code top-level domains, and some legacy top level domains (.com, .net, .org, etc...) in specific circumstances.

Cluster analysis

a technique used to divide an information set into mutually exclusive groups such that the members of each group are as close together as possible to one another and the different groups are as far apart as possible

Data mining

a type of intelligence gathering that uses statistical techniques to explore records in a data warehouse, hunting for hidden patterns and relationships that are undetectable in routine reports.

The primary purpose of a data warehouse

aggregate information throughout an organization into a single repository for decision-making purposes