Management Information Systems Exam #2 Study Guide Ch. 4 - Ch. 6

What are all the categories of Data mining tools and models?

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What are the objectives of a Decision Support System (DSS)?

- A simple and easy-to-use graphical user interface (GUI) -Access to large amounts of information -Models and tools (statistical and analytical) that you can use to massage the information).

What are the three sources a DSS can come from?

- Organizational Information -External Information -Personal Information

Define Secure Sockets Layer (SSL)

-Creates a secure and private connection between a Web client computer and a Web server computer -Encrypts the information -Then sends the information over the internet.

What are the 5 main types of Agent-based Technologies? (That focus on data mining)

1. Autonomous Agent- Software agent that can adapt and alter the manner in which it attempts to achieve its assigned task 2. Distributed Agent- Software agent that works on multiple distinct computer systems 3. Mobile Agent- Software agent that can relocate itself onto different computer systems 4. Intelligent Agent- Software agent that incorporates artificial intelligence capabilities such as learning and reasoning 5. Multi-agent system- Group of intelligent agents that have the ability to work independently but must also work with each other in order to achieve their assigned task.

What are the major categories of AI?

1. Expert Systems 2. Neural Networks (And fuzzy logic) 3. Genetic Algorithms 4. Agent-based technologies

What are the 3 other types of agents?

1. Information Agent- Intelligent agent shat search for information of some kind and bring it back. The best known of these are buyer agents (also known as shopping agents), on a website that help you, the customer, find products and services you want 2. Monitoring-and-surveillance agents- Intelligent agents that constantly observe and report on some entity of interest, a network, or manufacturing equipment 3. User Agents (personal agents)- Intelligence agents that take action on your behalf, such as sorting your email by priority, dumping unsolicited email into your spam folder, and playing computer games as your opponent.

What are the 4 distinct phases in business decision making?

1. Intelligence (Find what to fix): Find or recognize a problem 2. Design (Find fixes): Consider possible ways of solving the problem, filing the need, or taking advantage of the opportunity. 3. Choice (Pick a fix): Examine and wight the merits of each solution, estimate the consequences of each, and chose the best one (which may be to do nothing at all). 4. Implementation (Apply the fix): Carry out he chosen solution, monitor the results, and make adjustments as necessary.

What are the characteristics of a Multi-Agent System?

1. Learn how people-based systems behave 2. Predict how they will behave under a given set of circumstances 3. Improve human systems to make them more efficient and effective.

What is a sticky Web site?

A Web site that attracts consumers and encourages them to return.

What type of Internet-based company makes it easy for one person to pay another person or organization over the Internet?

A financial cybermediary

Define Long Tail

A notion first offered by Chris Anderson, Editor in Chief of Wired magazine, as a way of explaining e-commerce profitability- actually refers to the tail of a sales curve.

If you created links on your personal Web site that connected your visitors to businesses with the goal that you would earn a fee for purchases made by your visitors, what type e-commerce model are you creating?

Affiliate programs

Define user interface management component?

Allows you to communicate with the Decision Support System. The user interface is the part of the system you see; through it you enter information, commands, and models.

Define Public Key Encryption (PKE)

An encryption system that uses two keys: a public key that everyone can have and a private key for only the recipient.

Define MRO Materials (Maintenance, repair, and operation materials) (ALSO CALLED INDIRECT MATERIALS)

Are materials that are necessary for running a modern corporation, but do not relate to the company's primary business activities.

Define Online (often called banner ads)

Are small advertisements that appear on other sites.

If your company sold tires to the automobile industry and these sales were conducted through the Internet, what type of e-commerce model would you be using?

B2B

What term depicts a virtual marketplace in which all businesses buy from and sell products and services to each other, and share information?

B2B e-marketplace

When you purchased the book for this course from an online source such as Amazon.com, you are participating in which type of e-commerce?

B2C

Which type of e-commerce occurs when a business sells products and services to a government entity?

B2G

What are the 9 major e-commerce business models?

Business to Government (B2G) e-commerce- occurs when a business sells products and services to a government entity. Consumer to Governmental (C2G) e-commerce- Occurs when an individual sells products and services to a government entity. Government to Business (G2B) e-commerce- occurs when a government entity sells products and services to businesses. Government to Consumer (G2C) e-commerce- refers to the electronic commerce activity performed between a government and in citizens or consumers including paying taxes, registering vehicles. Government to Government (G2G) - refers to the electronic commerce activities performed within a nation's government or between two or more nation's government including providing foreign aid and the sharing of border patrol activities.

Define Model Management Component

Consists of a wide variety of statistical and analytical tools, techniques, and models.

What is the percentage of potential customers who visit your site who actually buy something?

Conversion rate

When businesses provide enabling technologies that allow people to create, modify, and oversee the development of a product or service, it is known as ____.

Crowdsourcing

Define Mobile Commerce (m-commerce or wireless e-commerce)

Described electronic commerce conducted over a wireless device such as a smartphone.

An expert system is usually built for specific application area called a _______.

Domain

____ is accelerated and enhanced by the Internet and the technology that supports it.

E-commerce

What system sends bills over the Internet and provides an easy-to-use mechanism to pay for them?

EBPP

Which type of business environment supports computer-to-computer transfer of transaction information in a standard business document and format?

Electronic data interchange (EDI)

Define Viral marketing

Encourages users of a product or service supplied by a B2C e-commerce business to encourage friends to join in as well.

What is the most powerful and easy-to-use analytics tool you will have in your arsenal?

Excel

Define Fuzzy Logic

IS a mathematical method of handling imprecise or subjective information

Define nonrecurring or ad hoc decision

IS one that you make infrequently (perhaps only once), and you may even have different criteria for determining the best solution each time. Deciding where to build a distribution center or company mergers are examples of nonrecurring or ad hoc decisions.

Define structured decision

Involves processing a certain kind of information in a specified way so that you will always get the right answer.

Define Value-added network (VAN)

Is a B2B service that offers information-sharing intermediary services between organizations based on various standards regarding the format of the information and how it will be sent and received.

Define Mobile computing

Is a broad general term describing your ability to use technology to wirelessly connect to and use centrally located information and/or application software.

Define click-through

Is a count of the number of people who visit one site, click on an ad, and are taken to the site of the advertiser.

Define Geographic Information System (GIS)

Is a decision support system designed specifically to analyze spatial information.

Define pop-under ad

Is a form of a pop-up ad that can do not see until you close your current browser.

Define Path-to-profitability (P2P)

Is a formal business plan that outlines key business issues such as customer targets, marketing strategies, operation strategies, and projected targets for income statement and balance sheet items.

Define Predicitive Analysis

Is a highly computational data-mining technology that uses information and business intelligence to build a predictive model for a given business application.

Define Decision support system (DSS)

Is a highly flexible and interactive IT system that is designed to support decision making when the situation includes non structured elements.

Define Virtual Good

Is a nonphysical object

Define Text Analytics

Is a process of using statistical, artificial intelligence, and linguistic techniques to convert information content in textual sources--like surveys, emails, blogs, and social media.

Define Agent-based Technologies (Or a software agent)

Is a small piece of software that acts on your behalf (or on behald of another piece of software) performing tasks assigned to it.

Define Prediction Indicator

Is a specific measurable value based on an attribute of the entity under consideration.

Define Secure Electronic Transaction

Is a transmission security method that ensures transactions are legitimate as well as secure.

Define Affiliate program

Is an arrangement made between two e-commerce sites that directs viewers from one site to the other.

Define Expert System (Also called a knowledge-based system)

Is an artificial intelligence system that applies reasoning capabilities to reach a conclusion.

Define Neural Network (Also called an Artificial Neural Network or ANN)

Is an artificial intelligence system that is capable of finding and differentiating patterns.

Define Genetic Algorithm

Is an artificial intelligence system that mimics the evolutionary, survival-of-the-fittest process to generate increasingly better solutions to a problem

Define vertical e-marketplace

Is an electronic marketplace that connects buyers and sellers in a given industry.

Define electronic marketplace (e-marketplace)

Is an interactive business providing a central marketplace where multiple buyers and suppliers can engage in e-commerce and/or other e-commerce business activities.

Define Digital wallet

Is both software and information - the software provides security for the transaction and the information includes payment information and delivery information.

Define Electronic commerce (e-commerce)

Is commerce, but is commerce accelerated and enhanced by IT, in particular the Internet.

Define nonstructured decision

Is one for which there may be several right answers, and there is no precise way to get a right answer.

Define Swarm (collective) intelligence

Is the collective behavior of groups of simple agents that are capable of devising solutions to problems as they arise, eventually leading to coherent global patterns.

Define Electronic Data Interchange (EDI)

Is the direct computer-to-computer transfer of transaction information contained in standard business documents, such as invoices and purchase orders, ina standard format.

Define Financial electronic data intercahrge (financial EDI)

Is the electronic process used primarily within the B2B e-commerce model for the payment for purchases.

Define conversion rate

Is the percentage of the potential customers who visit your site who actually buy something.

Define Reverse auction

Is the process in which a buyer posts its interest in buying a certain quantity of items with notations concerning quality, specification, and delivery timing, and sellers compete for the business by submitting successively lower bids until there is only one seller left.

Define Prediction Goal

Is the question you want addressed by the predictive analytics model Ex: Which suppliers are most likely to deliver raw materials in the next six months with a defective rate higher than .001%

Define Crowdsourcing

Is when businesses provide enabling technologies that allow people - instead of designated paid employees- to create, modify, and oversee the development of a product or service.

Define Satisficing

Making a choice that meets your needs and is satisfactory without necessarily being the best possible choice available.

_____ is the set of marketing tools that your organization will use to pursue its marketing objectives in reaching and attracting potential customers.

Marketing Mix

Trek has created an interactive Web site that allows one to build and purchase their own unique bicycle. This type of Web site creates what type of business opportunity?

Mass Customization

Which terms describes the ability of an organization to give its customers the opportunity to tailor its products or services to their specification?

Mass customization

What is the fundamental difference between "high growth" and "maximum growth"?

Maximum growth is an optimizing strategy High growth is a satisficing strategy.

Define ad-supported

Meaning they drive their revenue by selling advertising space, much like the concept of an affiliate program.

Define Business to Consumer (B2C) e-commerce

Occurs when a business sell products and services to customers who are primarily individuals.

Define Business to Business (B2B) E-commerce

Occurs when a business sells products and services to customers who are primarily other businesses.

Define Consumer to Business (C2B) e-commerce

Occurs when an individual sells products and services to a business.

Define Consumer to Consumer e-commerce

Occurs when an individual sells products and services to another individual.

Define recurring decision

One that happens repeatedly, and often periodically, whether weekly, monthly, quarterly, or weekly. Decisions how much inventory to carry and deciding what price to sell the inventory are recurring decisions

_____ is a formal business plan that maps out your customer base and your strategy for reaching them.

Path-to-profitability (P2P

Define Data Management Component

Performs the function of storing and maintaining information and also that of giving you access to information you want your Decision Support System to use.

Which scrambling technique provides you with two keys: one key that everyone in an organization can have to scramble the contents of a file and another key for the intended recipient to unscramble the file?

Public key encryption (PKE)

Define Encryption

Scrambles the content of a file so that you cant read it without having the right decryption key.

Which computer tool creates a secure and private connection between a Web client's computer and a Web server's computer, so that files sent from one to another are kept confidential?

Secure Sockets Layer (SSL)

Define pop-up ad

Small web page containing an advertisement that appears on your screen outside the current website loaded into your browser.

Which of the following types of products purchase on the Internet are typically high priced items because they are purchased infrequently and often require some sort of customization?

Specialty

Define demand aggregation

The combining of purchase requests from multiple buyers into a single large order, which justifies a discount from the business

Define Artificial Intelligence (AI)

The science of making machines imitate human thinking and behavior

Define Marketing mix

The set of marketing tools that your organization will use to pursue its marketing objectives in reaching and attracting potential customers.

Define Biomimicry

This concept of learning from ecosystems and adaptive their characteristics to human and organizational situations

Organizations in the private and public sectors are "satisficing" all the time in setting goals such as "fair price" or "reasonable profit". True False

True

What is the difference between horizontal e-marketplaces and vertical e-marketplaces?

Vertical e-marketplaces support commerce between businesses from the same industry; horizontal e-marketplaces support commerce between businesses from different industries

eBay is a hybrid of both

a B2C e-commerce site and a C2C e-commerce site.

Define direct materials

are materials that are used in production in a manufacturing company or are placed on the shelf for a sale in a retail environment.

Which of the following software agents can adapt and alter the manner in which it attempts to achieve its assigned task?

autonomous agent

What term is used to describe the small advertisements that appear on other Web sites?

banner ads

Which of the following types of products purchased on the Internet are typically priced low because they are used more frequently?

convenience

The primary reason most dot-com businesses from the late 1990s are no longer in existence today is because they didn't:

develop a path-to-profitability (P2P) plan.

What mechanism is used for sending money from your checking or savings account to another person or organization?

electronic check

Define horizontal e-marketplace

is an electronic marketplace that connects buyers and sellers across many industries primarily for MRO materials commerce.

If you were to shop regularly at a clothing store and this store provided you with regular discounts on clothes because it recognized you as a valuable customer, this store would be employing which of the following type of systems?

neural network

_____ is the process in which a buyer posts its interest in buying a certain quantity of items with notations concerning quality, specification, and delivery timing, and sellers compete for the business by submitting successively lower bids until there is only one seller left.

reverse auction

Define mass customization

the ability of an organization to give its customers the opportunity to tailor its product or service to the customer's specifications.

Which of the following is an example of commoditylike merchandise?

toothpaste