INFS 247 Test 3
customer relationship management
use existing customer data to drive loyalty and engagement and to maximize profitability from lost current and potential cutomers
industural internet of things
use of internet connected smart sensors in manufacturing and industural processess
Cloud computing systems
use the internet to deliver data storage and processing services hosted by a service provider
paradigm shift
when the effort one company puts in redefines the entire industry
Using OLAP/ BI tools
for direct access
strategic
longer term decisions
drill up
makes the granularity of the data in the query result coarser
drill down
makes the granularity of the data in the query result finer
Big data
massive volumes of diverse and rapidly growing data that are not formally modeled volume velocity variety
rate of return
number of returned items/ number of all shipped
bullwhip effect
occurs when product demand infromation passes throught the supply chain in a distorted delayed way
Supply chain operations reference model
plan, source, make, deliver, return, enable
Pivot
reorganizes the values displayed in the original query result by moving values of a dimension column from one axis to another
cmr entails
sales marketing marketing customer service
OLAP basic tools
slice and dice pivot drill down/ up
Database as a Service (DaaS)
specialized version of SaaS developed for database management in clouds
Business Process Reengineering (BPR)
the analysis and redesign of workflow within and between enterprises
Inventory turnover rate
cost of goods sold/ value of average
Operational
day to day decisions
data mining
discovering novel and interesting patterns in large amounts of data
Market basket analysis
finds groups of items that tend to appear together in transactions
cmr objective
maintain, enhance, and improve relationships with customers and potential customers
tactical
medium term decisions
examples of cmr service metrics and kpis
number of complaints in a time period customer ratings upsell revenues in time period
back order rate
number of orders/ number of all orders
Internet of Things (IoT)
physical devices and objects connected via internet communication and exchanging data
OLAP (online analytical processing)
querying and presenting data from data warehouses and/ or data marts for analytical purposes
upstream
suppliers
perdictive analytics
using past data to perdict future events
Slice and dice
adds, replaces, or eliminates specified attributes (or particular values) from the already displayed result
Blockchain
a mechanism for keeping track of sequences of data in a completely decentralized distributed fashion
RFM (recency, frequency, monetary value)
a method for analyzing customer value
Business process
a set of activities that once completed, accomplish a company's task or goals
automating
changing the business process by automating it ex, every phone call is answered by computerized answering system
Streamlining
changing the business process by removing unnecessary, outmoded, or inefficient steps and methods in the process ex, customer navigates fewer levels of less wordy menu choices by entering or speaking their choice
BPR
changing the business process not by performing the same process faster, cheaper and more efficient, but by completely redesigning the process ex, credit card company detecting fradulant transactions before the customer can spot it
Data lake
collection of structured, semi-structured, and unstructured data stored in a single location
Software as a Service (SaaS)
computer applications offered as a service on demand
Infrastructure as a service
computer hardware provided as standardized services over the network
downstream
customers
steps of bpr
1. identify business process 2. review & analyze as is 3. design to be 4. test & implement to be
Platform as a Service (PaaS
Resources required for building applications provided as standardized services over a network
supply chain
a network between a company, its suppliers, and a customers whose purpose is to produce and distrubute the companys products and/or services
SCM Automation
Enabled by the use of digital information and other technological advances
What is olap designed to do?
for analysis of data in data warehouses and data marts
front end applications
interact directly with people
logistics
the part of the supply chain process that plans, implements, and controls the flow of storage of goods, services, and related infromation
3 types of big data
transactional structured analytical structures unstructured
Executive dashboards
visually display graphs, charts, and scorecards of key performance indicators and information on a real-time basis for a quick glance