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ISYS
| Question | Answer |
|---|---|
| CRM | Customer Relationship Management |
| CRM analysis technologies | Help organizations segment their customers into categories such as best and worst customers. (Asking why it happened?) |
| CRM predicting technologies | Help organizations make predictions regarding customer behavior such as which customers are at risk of leaving. (Asking what will happen?) |
| CRM reporting technologies | Help organizations identify their customers across other applications. (Asking what happened?) |
| Operational CRM | Supports traditional transactional processing for day-to-day procedures for performing work, including scheduling, inventory and process management. |
| Analytical CRM | Supports back-office operations and strategic analysis and includes all systems that do not deal directly with the customers. |
| Personalization | Occurs when a website can know enough about a person's likes and dislikes that it can fashion offers that are more likely to appeal to that person. |
| CRM success factors | A factor that is critical to an organization's success. |
| RFM | Recency, frequency, and monetary value. Using this formula helps find the most valuable customers. It also helps to identify patterns and creating marketing campaigns, sales promotions, and services to increase business. |
| KPI | Key performance indicators- measures that are tied to business drivers. |
| Efficiency IT metrics | Measure the performance of the IT system itself including throughput, speed, and availability. Focuses on the extent to which an organization is using its resources in an optimal way. |
| Effectiveness IT metrics | Measure the impact IT has on business processes and activities including customer satisfaction, conversion rates, and sell-through increases. Focuses on how well an organization is achieving its goals and objectives. |
| Benchmarks | Baseline values the system seeks to attain. Optimal system performance. |
| Benchmarking | Is a process of continuously measuring system results, comparing those results to optimal system performance, and identifying steps and procedures to improve system performance. |
| Balanced scorecard | enables organizations to clarify their vision and strategy and translate them into action. A management and measurement system. |
| Data Warehouse | Logical collection of information. The primary purpose is to aggregate info throughout an organization into a single repository in such a way that employees can make decisions and undertake business analysis activities. |
| ETL | Extraction, transformation, and loading- a process that extracts info from internal and external databases, transforms the info using a common set of enterprise definitions, and loads the info into a data warehouse. |
| Data Mart | A subset of data warehouse info. |
| Data mart vs. data warehouse | data warehouses have a more organized focus and data marts have focused info subsets particular to the needs of a given business unit such as finance or production and operations. |
| Multidimensional Analysis | A cube. |
| Cube | Can slice and dice the info to drill down into the information. |
| Data mining | the process of analyzing data to extract info not offered by the raw data alone. |
| Info cleansing or scrubbing | Process that weeds out and fixes or discards inconsistent, incorrect, or incomplete info. |
| Business intelligence | apps and techs that are used to gather, provide access to, and analyze data and info to support decision-making efforts. |
| Association detection | Reveals the degree to which variables are related and the nature and frequency of these relationships in the info. |
| Cluster analysis | a technique used to divide an info set 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. |
| DSS | Decision support system- models info to support managers and business professionals during the decision-making process. |
| Digital dashboards | integrates info from multiple components and tailors the info to individual preferences. |
| Drill-down | Enables users to get details, and details of details, or info. |
| EIS (Consolidation, drill-down, and slice-and-dice) | Executive information system- A specialized DSS that supports senior level executives within the organization. |
| Consolidation | Involves the aggregation of info and features simple roll-ups to complex grouping of interrelated info. |
| Goal-seeking analysis | finds the inputs necessary to achieve a goal such as a desired level of output. |
| Sensitivity analysis | The study of the impact that changes in one (or more) parts of the model have on other parts of the model. |
| What-if analysis | Part of the DSS (1. sensitivity, 2. what-if, and 3. goal-seeking). |
| Artificial Intelligence (4) | expert systems, neural networks, genetic algorithms, and intelligent agents. |
| Attribute | Columns- properties of entities |
| Entity | Each line or table; rows |
| Cardinality | the max number of instances of one entity type that can be related to then umber of instances of another entity type. (One-to-one, one-to-many, and many-to-many) |
| Foreign Key | A primary key of one table that appears as an attribute in another table and acts to provide a logical relationship between the two tables. |
| Primary Key | A field that uniquely identifies a given entity in a table. |
| Relationship | How entities relate to one another. |
| Cache Memory | A small unit of ultra-fast memory that is used to store recently accessed or frequently accessed data so that the CPU does not have to retrieve this data from slower memory circuits such as RAM. |
| CPU | the actal hardware that interprets and executes the program (software) instructions and coordinates how all the other hardware devices work together. |
| Communication devices | equipment used to send info and receive it from one location to another. |
| Primary storage | the computer’s main memory, which consists of the random access memory (RAM), cache memory, and the read-only memory (ROM) that is directly accessible to the CPU. |
| Random access memory (RAM) | the computer’s primary working memory, in which program instructions and data are stored so that they can be accessed directly by the CPU via the processor’s high-speed external data bus. RAM is often called read/write memory |
| Flash memory | compact and portable rewriteable memory. |
| Gigabyte | is roughly 1 billion bytes. |
| Terabyte | roughly 1 trillion bytes |
| megabyte | 1 million bytes |
| Gigahertz | the number of billions of CPU cycles per second. |
| Megahertz | the number of millions of CPU cycles per second. |
| Hypertext Transfer Protocol | Allows web browsers and servers to send and receive web pages. |
| Hard drive | a secondary storage medium that uses several rigid disks coated with a magnetically sensitive material and housed together with the recording heads in a hermetically sealed mechanism |
| Magnetic medium | a secondary storage medium that uses magnetic techniques to store and retrieve data on disks or tapes coated with magnetically sensitive materials. |
| Optical medium | is a secondary storage medium for computers on which information is stored at extremely high density in the form of tiny pits. |
| Secondary storage | The equipment designed to store large volumes of data for long-term storage (e.g., diskette, hard drive, memory card, CD). |
| Transmission Control Protocol/Internet Protocol (TCP/ IP) | provides the technical foundation for the public Internet as well as for large numbers of private networks |
| TCP | provides transport functions, ensuring, among other things, that the amount of data received is the same as the amount transmitted. |
| IP | provides the addressing and routing mechanism that acts as a postmaster. |
| valued-added network (VAN) | a private network, provided by a third party, for exchanging information through a high-capacity connection. |
| virtual private network (VPN) | a way to use the public telecommunication infrastructure (e.g., Internet) to provide secure access to an organization’s network |
| Voice over IP (VoIP) | uses TCP/IP technology to transmit voice calls over long-distance telephone lines. VoIP transmits over 10 percent of all phone calls in the United States and this number is growing exponentially. |
| Volatility | refers to RAM’s complete loss of stored information if power is interrupted. RAM is volatile and its contents are lost when the computer’s electric supply fails. |
| Information granularity | refers to the extent of detail within the information (fine or detailed). |
| transactional info | encompasses all of the info contained within a single business process or unit of work, and its primary purpose is to support the performing of daily operational tasks. |
| Analytical info | encompasses all organizational info, and its primary purpose is to support the performing of managerial analysis tasks. |
| Real-time information/systems | provide info in response to query requests. means immediate, up-to-date information. |
| relational database | a type of database that stores info in the form of logically related two-dimensional tables. |
| physical view | the physical storage of info on a storage device such as a hard disk. |
| logical view | focuses on how users logically access info to meet their particular business needs. |
| relational integrity constraints | are rules that enforce basic and fundamental info-based constraints. |
| business-critical integrity constraints | enforce business rules vital to an organization's success and often require more insight and knowledge than relational integrity constraints. |
| DBMS | Database management system- a software through which users and application programs interact with a database. |
| Integration | allows separate systems to communicate directly with each other. |
| Forward vs. backward integration | sales system to billing system vs. billing system to sales system. |
| buyer power | the ability for buyers to directly impact the price they are willing to pay for an item. |
| competitive advantage | a product or service than organization's customer place a greater value on than similar offerings from a competitor. |
| entry barrier | a product of service feature that customers have come to expect from organizations in a particular industry and must be offered by an entering organization to compete and survive. |
| first-mover advantage | occurs when an organization can significantly impact its market share by being first to market with a competitive advantage. |
| loyalty program | reward customers based on the amount of business they do with an organization. |
| rivalry among existing competitors | high when competition is fierce. |
| supplier power | assessed by the suppliers' ability to directly impact the price they are charging for supplies. |
| supply chain | consists of all parties involved in the procurement of a product or raw material. |
| switching costs | costs that can make customers reluctant to switch to another product or service. |
| threat of new entrants | high when it is easy for new competitors to enter a market and low when there are significant entry barriers. |
| threat of substitute products or services | high when there are many alternatives to a product or service. (airline industry) |
| value chain | views an organization as a series of processes each of which adds value to the product or service for each customer. |
Created by:
manni3