Lectures 1, 2, 3, 6, 7, and 8 ( 1/2 of Final Exam )

What is Entry Barrier? (Lecture 2)

Cost that must be incurred by an entrant into a market. Cost of products/services/features that customers expect, and incumbents already provide.

What is efficiency? (Lecture 3)

(Study Guide Answer) Appropriate use of resources "Doing things right" -------------------------------------------------------------- (Lecture Packet Answer) Performance in the best possible manner with the least waste of time and effort.

First mover advantage? (Lecture 2)

(Study Guide Answer) The advantage gained by the initial significant occupant of a market segment. A market participant has an advantage if it is the first entrant and gains a competitive advantage through control of resources. -------------------------------------------------------------- (Lecture Packet Answer) >Takes place when a company gains a competitive advantage by being the initial mover with a certain feature, product, or service. *NOT always an advantage. (Lecture Packet Answer) >"These guys" can get overtaken Mosaic web browser vs Microsoft Internet Explorer web browser vs Google Chrome web browser >"These guys" can be movers to FAILURE Webvan (the largest dot-com FLOP IN HISTORY!)

What is effectiveness? (Lecture 3)

(Study Guide answer) Pursuing appropriate goals "Doing right things" -------------------------------------------------------------- (Lecture Packet Answer) Successful production of a desired or intended result, adequate accomplishment of a purpose.

What are IS core roles? (Lecture 2)

1 Data (Information) Storage 2 Facilitating Business Processes 3 Data (Information Analysis) and Decision Support >Each of these can be a significant factor for implementing business strategies and for achieving competitive advantages.

What is Information Systems? (Lecture 1)

A computer-based system that collects, stores, and manipulates data.

What is Porter's Five Forces Model? (Lecture 2)

A framework for analyzing the level of competition within an industry.

What is Data Warehouse? (Lecture 6)

A large store of data accumulated from a wide range of sources within a company and used to guide management decisions. -------------------------------------------------------------- From Lecture Packet: >Sometimes referred to as the target system, to indicate the fact that it is a destination for the data from the source systems. >A typical "one" periodically retrieves selected analytically useful data from the operational data sources.

(Lecture 3) What is a KPI (Key Performance Indicator)? Remember: Every KPI is a METRIC, but not every metric is a KPI

A measurable value that demonstrates how well an objective is being achieved. -------------------------------------------------------------- Examples: Number of items sold in Store X in this quarter vs number of items sold in Store X in same quarter in the previous year >University: 4-year graduation rate, acceptance rate, enrollment rate, retention rate, job placement rate, average first year salary >Aviation: On time flight arrival percentage, seat occupancy rate, revenue per available seat

What is loyalty program? (Lecture 2) Do loyalty programs reduce or increase buyer power?

A rewards program offered by a company to customers who frequently make purchases. Loyalty programs REDUCE buyer power. (How though?)

Chosen KPIs should be....? (Lecture 3) Remember: >A single KPI is rarely fully indicative >Combination of multiple KPIs provides a more precise picture

Aligned - reflecting with the strategic goals and objectives of the organization Attainable - measured based on the data that can be obtained in a straightforward manner Accurate - based on accurate data and calculations Actionable - giving insights that can prompt action

Switching cost? (Lecture 2)

Cost to customers of switching to a different product/service from the one they are already using. -------------------------------------------------------------- >If LOW = it increases the power of buyers (and reduces the power of suppliers) >If HIGH = it reduces the power of buyers (and increases the power of suppliers)

Is a DWH structured the same way as an operational database? (Lecture 6)

DWHs are modeled and structured differently than operational databases.

Is a DWH's userbase the same, larger, or smaller than an operational database's? (Lecture 6)

DWHs are used by different (MUCH SMALLER) set of users than operational databases: -------------------------------------------------------------- >Operational databases can be used by 1000s of employees, partners, and customers. >DWHs are used by data analysts and decision makers.

Does a DWH use the same type of technologies as an operational database? (Lecture 6)

DWHs use different types of technologies for storage and retrieval than operational databases.

What is the PRIMARY PURPOSE of DWH? (Lecture 6) Remember: >A DWH is created within an organization as a separate data store with an emphasis on _________________

Data Analysis. -------------------------------------------------------------- From Lecture Packet: >A typical organization maintains and utilizes a number of operational data sources (operational databases) ... *this is why a separate database is created for more of a perspective on the data analysis = DWH*

What is Data Mining? (Lecture 7)

Discovering novel and interesting patterns in large amounts of data. The patterns found should be: Accurate Meaningful Understandable Actionable -------------------------------------------------------------- Lecture Packet (Extra stuff): >"It" is an intersection of database management, artificial intelligence (machine learning), and statistics >1 of the primary sources for "this thing" is retrieved from the DWH!

Chief Digital Officer (Lecture 3) (I added just in case???)

Executive in charge of business processes and initiatives that can be facilitated through digitization of data -------------------------------------------------------------- >Typically oversees operations utilizing mobile applications, social media, and digital community engagement.

Chief Data Officer? (Lecture 3)

Executive in charge of data governance and utilization of information as an asset. -------------------------------------------------------------- >Data governance refers to formally regulating how, when, and by whom the organizational data is created, used, stored, and archived.

Chief Information Officer? (Lecture 3)

Executive in charge of overseeing the use of data/information technology and aligns it with the enterprise's strategies, objectives, and goals. -------------------------------------------------------------- >Most senior executive in charge of information systems Need: Technology skills Leadership skills Management skills Communication skills

Chief Privacy Officer? (Lecture 3)

Executive in charge of protecting employee and customer data against illegal and unethical use.

Who is Chief Technology Officer? (Lecture 3)

Executive in charge of the efficiency of the information systems. -------------------------------------------------------------- >Focused on information technology (hardware, software, networks) related issues in an organization.

Chief Information Security Officer? (Lecture 3)

Executive in charge of the security of information systems and data assets. -------------------------------------------------------------- >Securing against unauthorized use, malicious use, data loss, data theft, etc.

What software is used to implement MapReduce technique? (Lecture 8)

Hadoop. -------------------------------------------------------------- Lecture Packet (Extra Stuff): >Very common Big Data technique. >Parallel computing divides complex tasks into a sequence of smaller tasks that are performed in parallel on multiple computers (multiple computers reduces the time needed for processing).

What is ETL? (Lecture 6) ***Look at picture on my phone (for a good visual)***

Infrastructure that basically facilitates the retrieval of data from operational databases into the DWHs -------------------------------------------------------------- >Includes the following tasks: *Extracting analytically useful data from the operational data sources *Transforming such data so that it conforms to the structure of the target data warehouse model, while ensuring the quality of the transformed data *Loading the transformed and quality assured data into the target data warehouse

What is System Software? (Lecture 1)

It enables proper functioning of hardware. -------------------------------------------------------------- >Enables application software to run on a computer and manages the interaction between hardware devices. >Acts as a mediator between application programs and the hardware resources of the computer system. >Designed to carry out general routine operations like loading, copying, or deleting a file.

What is Big Data? (Lecture 8)

Massive volumes of *unstructured* and *semi-structured* data that are not formally modeled. Can be coming from various sources and can encompass 80-90% of stored data. -------------------------------------------------------------- Lecture Packet (Extra stuff): >Unstructured - text, video, audio, etc. >Semi-structured - weblogs, e-mails, tweets, etc. >Not formally modeled (Not modeled up front for a pre-determined operational and/or analytical use. >Some of it may be of use and some (ACTUALLY MUCH) of it may not be of use. >*Companies/organizations tend to store a lot of it knowing that some of it may be of use later.

Which tools are designed for analysis of data in DWH and Data Mart? (Lecture 7) (There's a good visual right below in Lecture Packet) Read Below Important: what the __name__ of the tool does This _________ Tool = querying and presenting data from DWHs and/or Data Marts for analytical purposes.

OLAP (BI - Business Intelligence) -------------------------------------------------------------- Lecture Packet (Extra): >These allow users to retrieve needed data from DWHs and Data Marts by using simple point-and-click mechanisms.

What are basic OLAP operations (features)? (Lecture 7) *****(You will be given examples from the lectures and asked what kind operations are performed in a given scenario).*****

Slice and Dice Adds, replaces, or eliminates specified attributes (or particular values) from the already displayed result. Pivot (Rotate) Reorganizes the values displayed in the original query result by moving values of a dimension column from 1 axis to another. Drill Down Makes the granularity of the data in the query result finer. Drill Up Makes the granularity of the data in the query result coarser.

What is Application Software? (Lecture 1)

Tools used by employees to access, use and present the information they require, and perform their tasks. -------------------------------------------------------------- >Developed to perform specific jobs or address 1 or more specific business needs. >Provides the tools to perform particular tasks on a computer (like writing a letter, processing orders, paying bills, playing games, composing an e-mail, etc.) Examples: Word processing software Spreadsheet software Database software Presentation software Multimedia software