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ISA 235 Exam 1
| Question | Answer |
|---|---|
| fact | the confirmation or validation of an event or object |
| information age | the present time, during which infinite quantities of facts are widely available to anyone who can use a computer |
| internet of things (IoT) | a world where interconnected, internet-enabled devices or "things" can collect and share data without human intervention |
| machine-to-machine (M2M) | devices that connect directly to other devices |
| data | raw facts that describe the characteristics of an event or object |
| big data | a collection of large complex data sets, including structured and unstructured data, which cannot be analyzed using traditional database methods and tools |
| structured data | data that has a defined length, type, and format and includes numbers, data, or strings such as Customer Address |
| machine-generated data | data created by a machine without human intervention |
| human-generated data | data that humans, in interaction with computers, generate |
| unstructured data | data that is not defined and does not follow a specified format and is typically free-form text such as emails, tweets, and text messages |
| machine-generated unstructured data | includes satellite images, scientific atmosphere data, and radar data |
| human-generated unstructured data | includes text messages, social media data, and emails |
| snapshot | a view of data at a particular moment in time |
| information | data converted into a meaningful and useful context |
| report | a document containing data organized in a table, matrix, or graphical format allowing users to easily comprehend and understand information |
| static report | a report created once based on data that does not change |
| dynamic report | a report that changes automatically during creation |
| variable | a data characteristic that stands for a value that changes or varies over time |
| business intelligence (BI) | information collected from multiple sources such as suppliers, customers, competitors, partners, and industries that analyze patterns, trends and relationships for strategic decision making |
| analytics | the science of fact based decision making |
| business analytics | the scientific process of transforming data into insight for making better decisions |
| data scientist | extracts knowledge from data by performing statistical analysis, data mining, and advanced analytics on big data to identify trends, market changes, and other relevant information |
| descriptive analytics | uses techniques that describe past performance and history |
| predictive analytics | uses techniques that extract information from data and use it to predict future trends and identify behavioral patterns |
| prescriptive analytics | uses techniques that create models indicating the best decision to make or course of action to take |
| algorithms | mathematical formulas placed in software that performs an analysis on a data set |
| anomaly detection | the process of identifying rare or unexpected items or events in a data set that do not conform to other items in the data set |
| outlier | data value that is numerically distant from most of the other data points in a set of data |
| knowledge | skills, experience, and expertise coupled with information and intelligence that creates a persons intellectual resources |
| knowledge worker | individuals valued for their ability to interpret and analyze information |
| knowledge assets | the human, structural, and recorded resources available to the organization |
| knowledge vacilitators | help harness the wealth of knowledge in the organization |
| business unit | a segment of a company (such as accounting, production, marketing) representing a specific business function |
| information silo | occurs when one business unit is unable to freely communicate with other business units making it difficult or impossible for organizations to work cross-functionally |
| data democritization | the ability for data to be collected, analyzed, and accessible to all users (the average end user) |
| system | a collection of parts that link to achieve a common purpose |
| goods | material items or products that customers will buy to satisfy a want or need. clothing, groceries, cell phones are examples |
| services | tasks that customers will buy to satisfy a want or need |
| production | the process where a business takes raw materials and processes them or converts them into a finished product for its goods or services |
| productivity | the rate at which goods and services are produced based upon total output given total inputs |
| 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 |
| feedback | information that returns to its original transmitter (input, transform, output)and modifies the transmitters actions |
| management information systems (MIS) | a business function, like accounting or HR, which moves information about people, products, and processes across the company to facilitate decision making and problemsolving |
| chief information officer (CIO) | responsible for overseeing all uses of MIS and ensuring that MIS strategically aligns with business objectives and goals |
| chief data officer (CDO) | responsible for determining different types of information the enterprise will capture, retain, analyze, and share |
| chief technology officer (CTO) | responsible for ensuring the throughput, speed, accuracy, availability, and reliability of an organizations MIS |
| chief security officer (CSO) | responsible for ensuring the security of MIS systems and developing strategies and MIS safeguards against attacks from hackers and viruses |
| chief privacy officer (CPO) | responsible for ensuring the ethical and legal use of information within a company |
| chief knowledge officer (CKO) | responsible for collecting, maintinging, and distributing company knowledge |
| chief automation officer | determines if a person or business process can be replaced by a robot or software |
| chief intellectual property officer | manage and defend intellectual property, copyrights, and patents |
| chief sustainability officer | oversees the corporations "environmental" programs such as helping adapt to climate change and reducing carbon emissions |
| chief user experience officer | create the optimal relationship between user and technology |
| MIS skills gap | the difference between existing MIS workplace knowledge and the knowledge required to fulfill the business goals and strategies |
| business strategy | a leadership plan that achieves a specific set of goals or objectives such as increasing sales, decreasing costs, entering new markets, or developing new products or services |
| stakeholder | a person or group that has an interest or concern in an organization |
| competitive advantage | a feature of a product or service on which customers place a greater value than on similar offerings from competitors |
| first-mover advantage | an advantage that occurs when company can significantly increase its market share by being first to the market with a competitive advantage |
| competitive intelligence | the process of gathering information about the competitive environment, including competitors plans, activities, and products, to improve a company's ability to succeed |
| SWOT analysis | evaluate an organization's strengths, weaknesses, opportunities, and threats to identify significant influences that work for or against business strategies |
| porters 5 forces model | a model for analyzing the competitive forces within the environment in which a company operates, to access the potential for the profitability in an industry |
| buyer power | the ability if buyers to affect the price they must pay for an item |
| switching costs | costs that make customers reluctant to switch to another product/service |
| loyalty program | a program to reward customer based on spending |
| supply chain | all parties involved, directly or indirectly, in obtaining raw materials or a product |
| supplier power | one of the porters 5 forces; measures the suppliers ability to influence the prices they charge for suppliers |
| threat of substitute products or services | one of porters 5 forces; high when there are many alternatives to a good and low when there are few alternatives |
| threat of new entrants | one of porters 5 forces; high when it is easy for new competitors to enter and low when there are significant barriers to entry |
| entry barrier | a feature of a product or service that customers expect and entering competitors must offer the same for survival |
| rivalry among existing competitors | one of porters 5 forces; high when competition is fierce in a market and low when competitors are more complacent |
| product differentiation | an advantage that occurs when a company develops unique differences in its products with the intent to influence demand |
| porters 3 generic strategies | generic business strategies that are neither organization now industry specific and can be applied to any business, product, or service |
| business process | standardized set of activities that accomplish a specific task |
| value chain analysis | views a firm as a series of business processes that each add value to the product or service |
| primary value activities | found at the bottom of the value chain, these include business processes that acquire raw materials and manufacture, deliver, marker, sell, and provide after-sales services |
| support value activities | found along the top of the value chain and includes business processes, such as firm infrastructure, human resource management, technology development, and procurement that support the primary value activities |
| operational level | employees develop, control, and maintain core business activities required to run the day-to-day operations |
| operational decisions | affect how the firm is run from day to day; they are the domain of operations managers, who are the closest to the customer |
| structured decision | involves situations where established processes offer potential solutions |
| managerial level | employees are continuously evaluating company operations to hone the firms abilities to identify, adapt to, and leverage change |
| managerial decisions | concern how the organization should achieve goals and objectives set by its strategy, and they are usually the responsibility of mid-level management |
| semistructured decision | occurs in situations in which a few established processes help to evaluate potential solutions but not enough to lead to a definite recommended decision |
| strategic level | managers develop overall business strategies, goals, and objectives as part of the company's strategic plane |
| strategic decisions | involve higher-level issues concerned with the overall direction of the organization; these decisions define the organization's overall goal and aspirations for the future |
| unstructured decision | occurs in situations in which no procedures or or rules exist or guide decision makers toward the correct choice |
| project | temporary activity a company undertakes to create a unique product, service, or result |
| metrics | measurements that evaluate results to determine whether a project is meeting its goals |
| critical success factors (CSFs) | crucial steps companies perform to give achieve their goals and objectives and implement their strategies |
| key performance indicators (KPIs) | quantifiable metrics a company uses to evaluate progress toward critical success factors |
| market share | the proportion of the market that a firm captures |
| return on investment (ROI) | indicates the earning power of a project |
| best practices | the most successful solutions or problem-solving methods that have been developed by a specific organization or industry |
| efficiency MIS metrics | measure the performance of MIS itself such as throughput, transaction speed, and system availability |
| effectiveness MIS metrics | measure the impact MIS has on business processes and activities including customer satisfaction and customer conversion rates |
| benchmarks | baseline values the system seeks to attain |
| 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 |
| model | a simplified representation or abstraction of reality |
| transactional information | encompasses all of the information contained within a single business process unit or unit of work, and its primary purpose is to support the performing of daily operational or structured decisions |
| online transaction processing (OLTP) | the capturing of transaction and event information using technology to process the information according to defined business rules, store the information, and update existing information to reflect the new information |
| transaction processing system (TPS) | the basic business system that serves the operational level (analysts) and assist in making structured decisions |
| source document | describes the original transaction record along with details such as its date, purpose, and amount spent and includes cash receipts, canceled checks, invoices, customer refunds, employee time sheet, etc |
| analytical information | encompasses all organizational information and its primary purpose is to support the performing of managerial analysis or semi structured decisions |
| online analytical processing (OLAP) | the manipulation of information to create business intelligence in support of strategic decision making |
| decision support systems (DDSs) | model information using OLAP, which provides assistance in evaluating and choosing among different courses of action |
| executive information system (EIS) | a specialized DSS that supports senior-level executives and unstructured, long-term, nonroutine decisions requiring judgement, evaluation, and insight |
| granularity | refers to the level of detail in the model or the decision-making process |
| visualization | produces graphical displays of patterns and complex relationships in large amounts of data |
| infographic (information graphic) | presents the results of data analysis, displaying the patterns, relationships, and trends in a graphical format |
| pie chart | a type of graph in which a circle is divided into sectors that each represent a proportion of the whole |
| bar chart | a chart or graph that represents grouped data with rectangular bars with lengths proportional to the values that they represent |
| histogram | a graphical display of data using bars of different heights |
| sparkline | a small, embedded line graph that illustrates a single trend |
| time-series chart | a graphical representation showing change of a variable over time |
| digital dashboard | tracks KPIs and CSFs by compiling information from multiple sources and tailoring it to meet their needs |
| artificial intelligence (AI) | simulates human thinking and behavior such as the ability to reason and learn |
| expert system | computerized advisory programs that imitate the reasoning processes of experts in solving difficult problems |
| case-based reasoning | a method whereby new problems are solved based on the solutions from similar cases solved in the past |
| algorithms | mathematical formulas placed in software that performs an analysis on a data set |
| genetic algorithm | an AI system that mimics the evolutionary, survival-of-the-fittest process to generate increasingly better solutions to a problem |
| mutation | the process within a genetic algorithm of randomly trying combinations and evaluating the success/failure of the outcome |
| machine learning | a type of AI that enables computers to both understand concepts in the environment and to learn |
| data augmentation | occurs when adding additional training examples by transforming existing examples |
| overfitting | occurs when a machines learning model matches the training data so closely that the model fails to make correct predictions on new data |
| underfitting | occurs when a machine learning model has poor predictive abilities because it did not learn the complexity in the training data |
| sample bias | a problem with using incorrect training data to train the machine |
| prejudice bias | a result of training data that is influence by cultural or other stereotypes |
| measurement bias | occurs when there is a problem with the data collected that skews the data in one direction |
| variance bias | a mathematical property of an algorithm |
| neural network | a category of AI that attempts to emulate the way the human brain works |
| fuzzy logic | a mathematical method of handling imprecise or subjective information |
| deep learning | a process that employs specialized algorithms to model and study complex datasets; the method is also used to establish relationships among data and datasets |
| reinforcement learning | the training of machine learning models to make a sequence of decisions |
| virtual reality | a computer-simulated environment that can be a simulation of the real world or an imaginary world |
| augmented reality | the viewing of the physical world with computer generated layers of information added to it |
| google glass | a wearable computer with an optical head-mounted display |
| virtual workplace | a work environment that is not located in any one physical space |
| haptic interface | uses technology allowing humans to interact with a computer through bodily sensations and movements; for example a cell phone vibrating in your pocket |
| customer-facing process | results in a product or service that is received by an organization's external customer |
| business-facing process | invisible to the external customer but essential to the effective management of the business; they include goal setting, day-to-ay planning, giving performance feedback, and rewards, and allocating resources |
| business process patent | a patent that protects a specific set of procedures for conducting a particular business activity |
| core process | business processes, such as manufacturing goods, selling products, and providing service that make up the primary activities in a value chain |
| static process | a systematic approach in an attempt to improve business effectiveness and efficiency |
| dynamic process | a continuously changing process that provides business solutions to ever-changing business operations |
| business process modeling | the activity of creating a detailed flowchart or process map of a work process that shows its inputs, tasks, and activities in a structured sequence |
| business process model | a graphic description of a process, showing the sequence of tasks, which is developed for a specific purpose and from a selected viewpoint |
| business process model and notation (BPMN) | a graphical notation that depicts the steps in a business process |
| as-is process model | represents the current state of the operation that has been mapped, without any specific improvements or changes to existing processes |
| to-be process model | shows the results of applying change improvement opportunities to the current process model |
| swim lane | layout arranges the steps of a business into a set of rows depicting the various elements |
| workflow | includes the tasks, activities, and responsibilities required to execute each step in a business process |
| workflow control systems | monitor processes to ensure tasks, activities, and responsibilities are executed as specified |
| digitization | the automation of existing manual and paper-based processes and workflows to a digital format |
| operational business processes | static, routine, daily business processes such as stocking inventory, checking out customers, and daily opening/closing process |
| operationalized analytics | makes analytics part of a business process. improving business processes is critical to staying competitive in todays electronic marketplace |
| business process improvement | attempts to understand and measure the current process and make performance improvements accordingly |
| automation | involves computerizing manual tasks making them more efficient and effective and dramatically lowering operational costs |
| robotic process automation | the use of software with AI and machine learning capabilities to handle high-volume repeatable tasks that previously required a human platform |
| autonomous robotics | a robot capable of making its own decisions and perform an action accordingly |
| machine vision | the ability of a computer to "see" by digitizing an image, processing the data it contains, and taking some kind of action |
| machine vision sensitivity | the ability of a machine to see in dim light or to detect weak impulses at invisible wavelengths |
| machine vision resolution | semi dynamic, semi routine, monthly business processes such as resource allocation, sales strategy, or manufacturing process improvements |
| streamlining | improves business process efficiencies simplifying or eliminating unnecessary steps |
| bottleneck | occurs when resources reach full capacity and cannot handle any additional demands; they limit throughput and impede operatons |
| redundancy | occurs when a task or activity is unnecessarily repeated |
| cycle time | the time required to process and order |
| strategic business processes | dynamic, nonroutine, long-term business processes such as financial planning expansion strategies, stakeholder interactions |
| business process reengineering (BPR) | the analysis and redesign of workflow within and between enterprises |
| data mining | the process of analyzing data to extract information not offered by the raw data alone |
| data profiling | the process of collecting statistics and information about data in an existing source |
| data replication | the process of sharing information to ensure consistency between multiple data sources |
| recommendation engine | a data-mining algorithm that analyzes a customers purchase and actions on a website and then uses the data to recommend complementary products |
| estimation analysis | determines values for unknown continuous variable behavior or estimated future value |
| affinity grouping analysis | reveals the relationship between variables along with the nature and frequency of the relationships |
| market basket analysis | evaluates such items as websites and checkout scanner information to detect buyers buying behavior and predict future behavior by identifying affinities among customers choices of products and services |
| cluster analysis | a technique used to divide information sets into mutually exclusive groups such that the members of each group are as close together as possible to one another and the different groups are as far apart as possible |
| classification analysis | the process of organizing data into categories or groups for its most effective and efficient use |
| data mining tool | uses a variety of techniques to find patterns and relationships in large volumes of information that predict future behavior and guide decision making |
| prediction | a statement about what will happen or what might happen in the future, for example, predicting future sales or employee turnover |
| optimization model | a statistical process that finds the way to make a design, system, or decision as effective as possible, for example, finding the values of controllable variables that determine maximal productivity or minimal waste |
| forecasting model | predictions based on time-series information allowing users to manipulate the time series for forecasting activities |
| regression model | includes many techniques for modeling and analyzing several variables when the focus is on the relationship between a dependent variable and one or more independent variables |
| time-series information | time-stamped information collected at a particular frequency |
| disruptive technologies | a new way of doing things that initially does not meet the needs of existing customers |
| sustaining technologies | produces an improved product customers are eager to buy, such as a faster car or a larger hard drive |
| WEB 1.0 | expanding global reach, opening new markets, reducing costs, improving effectiveness |
| WEB 2.0 | new mindset; collaboration, sharing, free new language; crowdsourcing, crowdfunding, knowledge management, social networks, selfies |
| crowd sourcing | refers to the wisdom of the crowd |
| crowdfunding | sources capital for a project by raising many small amounts of money from a large number of people |
| knowledge management | involves capturing, classifying, evaluating, retrieving, and sharing information assets in a way that provides context for effective decisions and actions |
| social networks | an application that connects people by matching profile information |
| ecommerce | buying and selling of goods and services over the internet |
| ebusiness | includes e commerce along with all activities related to internal and external business operations |
| ebusiness model | a plan that details how a company creates, delivers, and generates revenues on the internet |
| search engine | website software that finds other pages based on keyword matching and similar events to google |
| search engine ranking | evaluates variables that search engines use to determine where a URL appears on the list of search results |
| search engine optimization | combines art along with science to determine how to make URLs more attractive to search engines resulting in higher search engine ranking |
| open system | nonproprietary hardware and software based on publicly known standards that allows third parties to create add-on products to plug into or interoperate with the system |
| collaboration system | tools that support the work of teams or groups by facilitating the sharing and flow of information |
| collective intelligence | collaborating and tapping in to the core knowledge of all employees, partners, and customers |
| explicit knowledge | consists of anything that can be documented, achieved, and codified, often with the help of IT |
| tacit knowledge | knowledge contained in peoples heads |
| hacker | experts in technology who use their knowledge to break into computers and computer networks, either for profit or just motivated by the challenge |
| security threats to ebusiness | elevation of privilege, hoaxes, malicious code, packet tampering, sniffer, spoofing, splogs, spyware |
| virus | software written with malicious intent to cause annoyance or damage |
| identity theft | the forging of someone's identity for the purpose of fraud |
| phishing | a technique to gain personal information for the purpose of identity theft, usually by means of fraudulent email |
| pharming | reroutes requests for legitimate websites to false websites |
| authentification | a method for confirming users identities |
| authorization | the process of giving someone permission to do or have something |
| content filtering | prevents emails containing sensitive information from transmitting and stops spam and viruses spreading |
| firewall | hardware and/or software that guards a private network by analyzing the information leaving and entering the network |
| intrusion detection software | features full-time monitoring tools that search for patterns in network traffic to identify intruders |
Created by:
grantbusch