MIS Exam 2

- Content management system

A content management system is computer software used to manage the creation and modification of digital content. A CMS is typically used for enterprise content management and web content management.

Which of the following features is a critical success factor for internal social media​ tools?

A corporate culture of knowledge​ sharing, trust, and honest feedback

- Examples of intelligent agents

AI assistants such as Alexa and Siri are examples of intelligent AI agents that use sensors to perceive a user request and automatically collect data from the internet without the user's help.

- Types of electronic commerce (B2C, C2B, B2B, C2C) and their benefits

B2B | business to business In this model, a company sells products or services to another company. Generally, these transactions have a higher volume, a longer sales cycle and are recurring. B2C | business to consumer This model describes a business that sells products or services directly to consumers and is one of the most common business types. C2C | consumer to consumer This model presents a situation where a consumer sells directly to another consumer in an online marketplace, giving them more control over their sale. Some recognized examples are eBay and Mercado Libre. C2B | consumer to business Although this model is not very common, it refers to people who sell their products or services directly to companies, which gives them more power. A great example of this is a platform like Upwork, where freelancers sell their professional services to companies that need them.

Brick-and-mortar, click-and-mortar, and click-only business strategy examples and use cases

Brick-and-mortar companies only have a physical presence, whereas click-and-mortar companies have both a physical presence and an online presence. As a result, there are a few differences between the two types of business structures, including: Where products are sold: whereas brick-and-mortar businesses sell products to customers in person in a physical location, click-and-mortar businesses take orders online and then deliver the products to the customer. How products are paid for: because transactions occur remotely, click-and-mortar businesses tend to only accept digital payment methods such as credit cards or bank transfers. On the other hand, brick-and-mortar businesses accept payment in person and can therefore accept traditional forms of payment such as cash as well as digital methods. Which channels are used for marketing: both click-and-mortar and brick-and-mortar companies may use a range of channels to promote their business, but it's more common for companies with an e-commerce component to use online marketing strategies, while brick-and-mortar companies tend to stick to traditional, offline methods.

Brick-and-mortar business strategy

Brick-and-mortar stores utilize a few different methods to draw customers to a storefront and use specific advertising tactics to show customers the benefits of shopping face-to-face. Brick-and-mortar marketing refers to the strategy of servicing customers through interactive means at a storefront.

- Business intelligence

Business intelligence (BI) is a set of strategies and technologies enterprises use to analyze business information and transform it into actionable insights that inform strategic and tactical business decisions.

- How organizations use business intelligence

Business intelligence gives organizations the ability to ask questions in plain language and get answers they can understand. Instead of using best guesses, they can base decisions on what their business data is telling them — whether it relates to production, supply chain, customers or market trends.

Organizations are using an automated system called​ __________ to initiate conversations with customers.

Chatbots

Click-and-mortar business strategy

Click and mortar, also known as 'click and bricks', is a type of business model that incorporates both online and offline channels, usually combining a website and a physical store.

- Goal of collaboration

Collaboration allows businesses to bring together people with different experiences, knowledge and skills, in order to accomplish common goals. It has a number of benefits: pooling talent, coordinating large projects, or creating new products, for instance.

Which of the following statements about data marts is NOT​ true?

Data marts are considerably more expensive to develop than data warehouses.

​__________ algorithms search for hidden patterns in large volumes of data to develop predictive models.

Data mining

DBMS (Database Management System)

Database Management Systems (DBMS) are software systems used to store, retrieve, and run queries on data. A DBMS serves as an interface between an end-user and a database, allowing users to create, read, update, and delete data in the database.

​__________ typically​ provide(s) push​ reporting, exception​ reporting, and pull reporting.

Digital dashboards

- Examples of disintermediation

Disintermediation occurs whenever a step in the supply chain is eliminated. A consumer calls a hotel directly to make a reservation rather than booking through a website or a travel agent. A retailer orders directly from a manufacturer rather than a sales representative for a distributor.

Electronic commerce

E-commerce (electronic commerce) is the buying and selling of goods and services, or the transmitting of funds or data, over an electronic network, primarily the internet. These business transactions occur either as business-to-business (B2B), business-to-consumer (B2C), consumer-to-consumer or consumer-to-business.

E-tailing

E-tailing is short for electronic retailing and refers to the specific activities related to selling retail products and services via the internet. The key words in this definition are "retail products and services.

- Benefit of cloud-based collaboration tools

Efficiency. Cloud collaboration enables asynchronous communication and editing. ... Flexibility. The cloud lets team members work from anywhere and across a range of time zones. ... Real-time collaboration. ... Access control. ... Inclusivity. ... Version control.

Synchronous vs. asynchronous communication, when to use each, and examples of each

Examples of synchronous communication are phone calls or video meetings. Asynchronous communication happens when information can be exchanged independent of time. It doesn't require the recipient's immediate attention, allowing them to respond to the message at their

Fintech

Fintech, or financial technology, refers to the technological innovation in the design and delivery of financial services and products.

- Revenue and pricing models

If the revenue model is the architecture of charging customers for your products or services, then pricing strategy is the thought process with which you actually pick a number to charge.

- Possible indicators of ecommerce fraud

If the same IP address is tied to multiple transactions and multiple cards, it's a sign that the fraudster may be using information stolen from multiple consumers. These are some of the most common signs of fraudulent activity.

Query

In everyday language, a query is simply a request for information. Similarly, the meaning of a query in database management is a request for data. If you need to access, manipulate, delete, or retrieve data from your relational database, you'll need a database query written using a specific syntax.

Entity

In relation to a database , an entity is a single person, place, or thing about which data can be stored. 3) In data modeling (a first step in the creation of a database), an entity is some unit of data that can be classified and have stated relationships to other entities.

- Examples of organizational intranets

Intranet software is predominantly used by employees to search for information, for internal communication, and to manage workflows. An example is a website that an airline company exclusively uses to deliver updates and information to its workforce.

- Data mining (and types of data mining)

It has the capability of transforming raw data into information that can help businesses grow by taking better decisions. Data mining has several types, including pictorial data mining, text mining, social media mining, web mining, and audio and video mining amongst others.

- Organizational issues with social media

Lower Engagement And Post Interactions. ... Standing Out From Existing Social Competitors. ... Multitasking Social Media Wastes Time. ... Departments Seldom Communicate. ... You Have No More Original Content Ideas To Share. ... Being On-Call And Ready To Respond To Emergencies.

Which of the following factors is NOT a limitation on​ consumer-to-consumer e-commerce?

More widely available buyers and sellers

Net neutrality

Net neutrality (or network neutrality) refers to the principle that all internet connections should be treated equally, and internet service providers (ISPs) should allow users access to all content regardless of the source. Without net neutrality, internet service providers could regulate what users can and can't see and discriminate against certain websites and services. Pros Level playing field: Net neutrality rules mean that no one with more money receives special treatment. Without net neutrality rules, broadband providers in the United States can slow down the websites or services of small businesses that can't afford to pay for the so-called fast lanes. The same goes for small creators, whose main source of income is their YouTube channel. None of them would be able to compete with large corporations. Freedom of expression and free speech: the internet is a vital information source and ISPs shouldn't be able to block content or slow down webpages just because they don't like them. With no net neutrality legislation, nothing stops them from censoring online content. This, however, doesn't include illegal content. With or without net neutrality regulations, the censoring of such content falls on the shoulders of law enforcement agencies. No exclusion: Net neutrality guarantees that everything on the internet is available to everyone. If accessing high-quality content online becomes a luxury only wealthy people can enjoy, this will increase social exclusion and decrease equal access. No additional costs for content: Without net neutrality rules, broadband providers can charge companies for improving services like faster video streaming, online gaming, etc. If this happens, these companies will transfer their new financial burden on to the users. Cons No one is paying for the data: With net neutrality, users only pay for the service, not the data they consume. Video streaming services were responsible for 57% of the bandwidth used worldwide in 2018. Customers who use less bandwidth may not want to pay for the infrastructure needed to support high-bandwidth activities. Illicit content is widely available: Offensive, dangerous, and illegal content is accessible to everyone and difficult to remove. Removing n

Benefits and drawbacks of social media for businesses

Pros 1: Generates Business Leads. ... 2: Social Media is Affordable. ... 3: Social Media Increases Brand Awareness. ... 4: Helps Provide Market Data. ... 5: Social Media is a Platform for Interacting with Customers. ... Cons Not built for business. Negative feedback and tarnish brand. Heavily rely on ads. Low ROI. Time-consuming. Need to stay engaged and active. Difficult to measure. Security and privacy policy issues.

- Benefits and drawbacks of cloud-based collaboration tools

Pros There's significant project savings. ... Better communication occurs. ... Everyone sees the big picture. ... Risk is reduced. ... Cloud solutions have security limits. ... If there is a cybersecurity breach, brand reputations can suffer. Decision making can become lengthy. ... Individuals can be resistant to change. Cons Potential for miscommunication: Online communication can sometimes lead to misunderstandings, as non-verbal cues are often absent. Over-reliance on technology: Excessive dependence on online collaboration tools can make it challenging to adapt when technical issues arise.

Which of the following is NOT a key purpose of business​ analytics?

Provide a detailed picture of the current state of a business.

Which of the following allows customers to scan bar codes with their mobile phones to learn more about a​ product?

QR codes

Which of the following is a characteristic of social​ commerce?

Receiving product recommendations based on the buying habits of similar shoppers

Which of the following is NOT a common purpose of a geographic information​ system?

Replicate an​ expert's judgment.

- Data-driven organizations

So, here is a simple data-driven organization definition: An organization that uses data insights to guide its decision-making processes. Data-driven companies rely upon data-driven processes, data analytics tools, and data-driven culture to generate business insights that help inform their decisions.

- Structured vs. unstructured data

Structured data consists of clearly defined data types with patterns that make them easily searchable, while unstructured data—"everything else"—is composed of data that is usually not as easily searchable, including formats like audio, video, and social media postings.

- SQL

Structured query language (SQL) is a programming language for storing and processing information in a relational database. A relational database stores information in tabular form, with rows and columns representing different data attributes and the various relationships between the data values.

- ISBLANK

The ISBLANK function is used to test if a specified cell is blank (empty) or not. For example,"=ISBLANK(G1)" will return "true" if G1 is empty, and "false" if G1 contains text or formula that returns an empty string.

- Big data

The definition of big data is data that contains greater variety, arriving in increasing volumes and with more velocity. This is also known as the three Vs. Put simply, big data is larger, more complex data sets, especially from new data sources.

- Examples of electronic government

The electronic government or e-government, also used as synonyms the terms electronic administration or e-administration, consists of the use of information and communication technologies and knowledge in internal government processes, as well as in the delivery of the products and services of the State to both citizens and industry. Like e-government examples we can take: Portals, ERP, GRPs, CRMs and social networks.

Field

The main functional activities can be grouped under the four main functional areas - marketing, operations, human resources and finance.

- Goal of data visualization

The main goal of data visualization is to make it easier to identify patterns, trends and outliers in large data sets. The term is often used interchangeably with others, including information graphics, information visualization and statistical graphics.

- Primary key and foreign key in relational databases

The primary Key is a key that helps in uniquely identifying the tuple of the database whereas the Foreign Key is a key that is used to identify the relationship between the tables through the primary key of one table that is the primary key one table acts as a foreign key to another table.

- Types of collaboration software and when to use each

The primary types of team collaboration tools are file sharing, instant messaging (IM), cloud storage, online whiteboards, document synchronization, voice/video conferencing and calendar sharing: File sharing tools enable teams to quickly distribute and transfer files, as well as provide access to other members.

Which of the following statements best describes​ collaboration?

Three people from different departments work together on a sales presentation.

- When parentheses are used in Excel

To change the order of evaluation, enclose in parentheses the part of the formula to be calculated first. For example, the following formula produces 11 because Excel calculates multiplication before addition. The formula multiplies 2 by 3 and then adds 5 to the result.

​__________ is/are the distribution of digital media for​ on-demand playback on digital media players.

Webcasts

- Difference in data warehouse and data lake

While a data lake holds data of all structure types, including raw and unprocessed data, a data warehouse stores data that has been treated and transformed with a specific purpose in mind, which can then be used to source analytic or operational reporting.

- When and why businesses would use predictive modeling

While a data lake holds data of all structure types, including raw and unprocessed data, a data warehouse stores data that has been treated and transformed with a specific purpose in mind, which can then be used to source analytic or operational reporting.

- Mobile ecommerce

also called m-commerce, includes any monetary transaction completed using a mobile device, such as a cell phone or tablet. It is an advancement of ecommerce, enabling people to buy and sell goods or services from almost anywhere, simply using a mobile phone or tablet device.

- Conversion rate

are calculated by taking the total number of users who 'convert' (for example, by clicking on an advertisement), dividing it by the overall size of the audience and converting that figure into a percentage.

- Data model

are visual representations of an enterprise's data elements and the connections between them. By helping to define and structure data in the context of relevant business processes, models support the development of effective information systems.

- Metadata

as the data providing information about one or more aspects of the data; it is used to summarize basic information about data that can make tracking and working with specific data easier. Some examples include: Means of creation of the data. Purpose of the data. Time and date of creation.

The type of data mining that is used to identify items that are frequently purchased together is called​ __________ discovery.

association

By monitoring the​ __________, website owners can learn which pages receive single views and do not cause visitors to stay at the site.

bounce rate

To stay ahead of the​ competition, organizations have turned to​ __________, using information systems to gather and analyze data and information from internal and external sources in order to make better business decisions.

business intelligence

A dangerous aspect of organizational social media applications that allow close collaboration by increasing data sharing is​ __________.

concern about security

The phenomenon of​ __________ enables companies to use everyday people as a cheap labor force.

crowdsourcing

The purpose of​ a(n) __________ is to store and distribute valuable data from an​ organization's internal information systems and external sources for analysis and querying.

data warehouse

​A(n) __________ is a software application with which you​ create, store,​ organize, and retrieve data from a single database or several databases.

database management system

The purpose of a​ __________ is to help prevent counterfeiting by making it possible to trace illegal copies of digital media to the original purchaser.

digital watermark

A widely used tool for asynchronous group communication is the​ __________.

discussion forum

IFERROR

displays a message or value that you specify, rather than the one automatically generated by Excel

- Network effect

economics, a network effect is the phenomenon by which the value or utility a user derives from a good or service depends on the number of users of compatible products

The exchange of​ goods, services, and money between firms and​ customers, supported by the​ internet, is termed​ __________.

electronic commerce

By creating an employee portal based on a company​ intranet, organizations can provide many human resource capabilities to their employees via​ __________.

employee​ self-service

​A(n) __________ is something you collect data about.

entity

In order to improve their​ websites, companies should track the​ __________, which is the percentage of visitors who leave the website after viewing that page.

exit rate

- SUMPRODUCT

function returns the sum of the products of corresponding ranges or arrays. The default operation is multiplication, but addition, ...

- How and why queries are used

help you find and work with your dataA query can either be a request for data results from your database or for action on the data, or for both. A query can give you an answer to a simple question, perform calculations, combine data from different tables, add, change, or delete data from a database.

Social media offers businesses all the following advantages EXCEPT​ __________.

increasing the difficulty of expanding their market share

- Data lake

is a centralized repository designed to store, process, and secure large amounts of structured, semistructured, and unstructured data. It can store data in its native format and process any variety of it, ignoring size limits. Learn more about modernizing your data lake on Google Cloud.

- Predictive modeling

is a commonly used statistical technique to predict future behavior. Predictive modeling solutions are a form of data-mining technology that works by analyzing historical and current data and generating a model to help predict future outcomes.

- Virtual teams

is a group of people who work together from different locations through electronic communication. You can use different kinds of virtual teams for specific situations, and they can all be cost-effective and efficient modes of collaboration.

- Viral marketing

is a style of promotion that relies on an audience to organically generate and push the message of a product or service. On social media, marketing is considered "viral" when it's being shared rapidly by the public at large (with a compounding effect) rather than just its target audience.

- Social commerce

is a subset of electronic commerce that involves social media and online media that supports social interaction, and user contributions to assist online buying and selling of products and services.

- Cloud-based collaboration tools

is a type of enterprise collaboration that allows employees to work together on documents and other data types, which are stored off-premises and outside of the company firewall.

- Data warehouse

is an enterprise system used for the analysis and reporting of structured and semi-structured data from multiple sources, such as point-of-sale transactions, marketing automation, customer relationship management, and more. A data warehouse is suited for ad hoc analysis as well custom reporting.

- Machine learning

is an umbrella term for solving problems for which development of algorithms by human programmers would be cost-prohibitive, and instead the problems are solved by helping machines "discover" their "own" algorithms, without needing to be explicitly told what to do by any human-developed algorithms

- Data-driven decision making

is defined as using facts, metrics, and insights to guide strategic business decisions that align with goals, strategies, and initiatives. It is a process that involves analyzing collected data through market research, and drawing insights, to benefit a business or organization.

Collective intelligence

is shared or group intelligence (GI) that emerges from the collaboration, collective efforts, and competition of many individuals and appears in consensus decision making.

- Artificial intelligence

is the intelligence of machines or software, as opposed to the intelligence of humans or animals. It is also the field of study in computer science that develops and studies intelligent machines. "AI" may also refer to the machines themselves.

- Search engine optimization

is the process of improving the quality and quantity of website traffic to a website or a web page from search engines. SEO targets unpaid traffic rather than direct traffic or paid traffic.

- Business analytics

is the process of transforming data into insights to improve business decisions. Data management, data visualization, predictive modeling, data mining, forecasting simulation, and optimization are some of the tools used to create insights from data.

- Data visualization

is the representation of data through use of common graphics, such as charts, plots, infographics, and even animations. These visual displays of information communicate complex data relationships and data-driven insights in a way that is easy to understand.

One of the challenges for smaller businesses in using collaborative social media tools is​ __________.

limited network effects because of failure to achieve critical mass

- Mobile commerce

m-commerce refers to any commercial transactions that take place via apps or mobile sites. Mobile commerce can be understood broadly as a subcategory of e-commerce, or as the mobile version of e-commerce.

Using a decision support system to determine market share is​ a(n) __________ function.

marketing

A business model enabled by web technologies is that of​ __________, in which firms tailor products and services to a​ customer's particular needs on a large scale.

mass customization

Online merchants can protect themselves from fraudulent purchase transactions by assessing various fraud​ indicators, such as​ __________.

misspellings in billing addresses

Successful Web 2.0 applications rely on the​ __________, the notion that the value of the application increases as the number of users increases.

network effect

How the Internet of Things relates to ecommerce

oT allows selling of "impossible" goods online, including perishables, flowers, and medical supplies. In eCommerce, the Internet of Things helps decrease waste, improves maintenance, streamlines logistics, automates routine tasks, and helps gather and analyze data.

A key consideration related to business intelligence​ (BI) is that it focuses on​ __________ data to aid in decision making.

past

Based on the concept of collective​ intelligence, __________ is the creation of goods or services by​ self-organizing communities.

peer production

- Continuous planning process

process involves monitoring goals, metrics, and milestones for existing priorities; identifying, developing, and advancing new strategic priorities; and ensuring a culture of self-evaluation, innovation, agility, and adaptability.

The purpose of a key indicator report is to​ __________.

provide a summary of critical information on a regular schedule

A key function of RDMBS is the​ __________, which enables users to retrieve data from the database to answer questions.

query

​A(n) __________ is also known as an entity instance.

record

Disintermediation

reduction in the use of intermediaries between producers and consumers, for example by investing directly in the securities market rather than through a bank.

- Advanced analytics

s an umbrella term referring to a range of data analysis techniques used primarily for predictive purposes, such as machine learning, predictive modeling, neural networks, and AI.

- Click-through rate

s the ratio of clicks on a specific link to the number of times a page, email, or advertisement is shown. It is commonly used to measure the success of an online advertising campaign for a particular website, as well as the effectiveness of email campaigns.

- Data science

s the study of data to extract meaningful insights for business. It is a multidisciplinary approach that combines principles and practices from the fields of mathematics, statistics, artificial intelligence, and computer engineering to analyze large amounts of data.

Record

set down in writing or some other permanent form for later reference, especially officially.

The act of​ __________ involves manually adding metadata to documents and other types of media to help in social cataloging.

tagging

The notion that people will not adopt a new technology unless they see​ real, tangible benefits is called​ __________.

technological inertia

Collaboration

the action of working with someone to produce or create something.

- Crowdsourcing

the practice of obtaining information or input into a task or project by enlisting the services of a large number of people, either paid or unpaid, typically via the internet. "organizations are increasingly turning to volunteers to spark innovation through crowdsourcing"

- Benefits of a content management system

user-friendliness. quick deployment. ease of maintenance, including updates. cost-efficiency, especially with out-the-box solutions, open source or freeware. extendable functionality, through a large number of plugins and extensions. SEO-friendly features.

A business that creates advertisements in a way that entices viewers to share the message with their friends through email or social networks is engaging in​ __________.

viral marketing

Businesses that sell goods electronically in cyberspace with no physical store locations are known as​ __________ companies.

virtual

Click-only business strategy

y companies are those companies who have a website/online presence without a physical store. They sell their products through their website only. They differ from click-and-mortar companies who have a physical presence in addition to their e-commerce business.

Companies such as Barnes​ & Noble that conduct business online plus operate physical stores are called​ __________ companies.

​bricks-and-clicks

The form of​ e-commerce that is the largest in terms of sales dollar volume is​ __________ e-commerce.

​business-to-business (B2B)

When consumers purchase goods from a​ business, the transaction is termed​ __________ e-commerce.

​business-to-consumer (B2C)

When a person purchases an item from another person via​ eBay, we have​ a(n) __________ transaction.

​consumer-to-consumer (C2C)

In the​ __________ pricing​ model, the firm running the advertisement pays only when a web surfer actually clicks on the advertisement.

​pay-per-click