MSIS 1.1
Kilobyte
1024 bytes
Megabyte
1024^2 bytes
Gigabyte
1024^3 bytes
Terabyte
1024^4 bytes
Petabyte
1024^5 bytes
Exabyte
1024^6 bytes
Zetabyte
1024^7 bytes
Yottabyte
1024^8 bytes
MIS has been around (formally) for
40 years
Byte
8 bits
Management Information Systems (MIS)
A business function which move information about people, products, and processes across the company to facilitate decision making and problem solving
System
A collection of parts that link to achieve a common purpose
Variable
A data characteristic that stands for a value that changes or varies over time
Systems Thinking
A way of monitoring the entire system by viewing multiple inputs being processed or transformed to produce outputs while continuously gathering feedback on each part
The Internet of Things (IoT)
A world where interconnected, internet-enabled devices can collect and share data without human intervention
How we measure data
Bit B 0 or 1
Fact
Confirmation/validation of an event or object
Information
Data converted into a meaningful and useful context
Finance
Deals with strategic financial issues, including money, banking, credit, investments, and assets
Predictive Analytics
Extracts information from data and uses it to predict future trends and identify behavioral patterns
Knowledge
Includes the skills, experience, and expertise, coupled with information and intelligence, that creates a person's intellectual resources
Knowledge Workers
Individuals valued for their ability to interpret and analyze information
Business Intelligence (BI)
Information collected from multiple sources such as suppliers, customers, competitors, partners, and industries that analyze patterns, trends, ad relationships for strategie decision making
Feedback
Information that returns to its original transmitter and modifies the transmitter's actions
Human Resources
Maintains policies, plans, and procedures, for the effective management of employees
Goods
Material items/products that customers will buy to satisfy a want or need
Amazon, Zappos, Netflix
Not technology companies
Successful Companies
Operate cross-functionally
Sales
Performs the function of selling goods or services
Data
Raw facts that describe the characteristics of an event/object
Accounting
Records, measures, and reports monetary transactions
Machine to Machine (m2m)
Refers to devices that connect directly to other devices
Marketing
Supports sales by planning, pricing, and promoting goods or services
Services
Tasks people perform that customers will buy to satisfy a want or need
Information Age
The present time; when infinite quantities of facts are widely available to anyone who can use a computer
Production
The process by which a business precesses raw materials or converts them into a finished product for its goods or services
Productivity
The rate at which goods and services are produced based on total output given total inputs
The key to finding success in business
Using data, information, business intelligence, and knowledge to make decisions and solve problems
