BCIS

Big data

A collection of large, complex data sets, including structured and unstructured data, which cannot be analyzed using traditional database methods and tools

report

A document containing data organized in a table, matrix, or graphical format allowing users to easily comprehend and understand information

entry barrier

A feature of a product or service that customers have come to expect and entering competitors must offer the same for survival

Benchmarking

A process of continuously measuring system results, comparing those results to optimal system performance (benchmark values), and identifying steps and procedures to improve system performance

Projects

A temporary activity a company undertakes to create a unique product, service, or result

Internet of Things (IoT)

A world where interconnected Internet-enabled devices or "things" have the ability to collect and share data without human intervention

Transaction Processing System (TPS)

Basic business system that serves the operational level and assists in making structured decisions

Machine-generated data

Created by a machine without human intervention

Static report

Creating once based on data that does not change

structured data

Data already in a database or a spreadsheet

information

Data converted into a meaningful and useful context

Human-generated data

Data that humans, in interaction with computers, generate. Includes input data, click-stream data, or gaming data

Operational decision making

Employees develop, control, and maintain core business activities required to run the day-to-day operations

Managerial decision making

Employees evaluate company operations to identify, adapt to, and leverage change

Threat of substitute products or services

High when there are many alternatives to a product or service and low when there are few alternatives

strategic decision making

Managers develop overall strategies, goals, and objectives

efficency MIS metrics

Measure the performance of MIS itself, such as throughput, transaction speed, and system availability

Metrics

Measurements that evaluate results to determine whether a project is meeting its goals

Effectiveness MIS metrics

Measures the impact MIS has on business processes and activities, including customer satisfaction and customer conversation rates

unstructured data

Not defined and does not follow a specified format

semistructured decisions

Occur in situations in which a few established processes help to evaluate potential solutions, but not enough to lead to a definite recommended decision

unstructured decisions

Occurs in situations in which no procedures or rules exist to guide decision makers toward the correct choice

structured decisions

Situations where established processes offer potential solutions

Critical Sucess Factors

The crucial steps companies make to perform to achieve their goals and objectives and implement strategies

Key performance indicators (KPIs)

The quantifiable metrics a company uses to evaluate progress toward critical success factors

Supplier Power

The suppliers' ability to influence the prices they charge for supplies

Value Chain Analysis

Views a firm as a series of business processes that each add value to the product or service

Threat of new entrants

a measure of the degree to which barriers to entry make it easy or difficult for new companies to get started in an industry

product differentiation

a positioning strategy that some firms use to distinguish their products from those of competitors

Business Process

a standardized set of activities that accomplish a specific task, such as processing a customer's order

supplier chain

consists of all parties involved, directly or indirectly, in obtaining raw materials or a product

switching costs

costs that make customers reluctant to switch to another product or service

firm infrastructure

includes the company format or departmental structures, environment, and systems

Machine to Machine (M2M)

refers to devices that connect directly to other devices

loyalty programs

specifically designed to retain customers by offering premiums or other incentives to customers who make multiple purchases over time

SWOT analysis

strengths, weaknesses, opportunities, threats

Online Transaction Processing (OLTP)

the capture of transaction and event information using technology to (1) process the information according to defined business rules, (2) store the information, and (3) update existing information to reflect the new information

source document

the original transaction record