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