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Management Information Systems Mid term

Management Information Systems Mid term
STUDY
PLAY
Business model
describes how company produces, delivers, and sells product or service to create wealth
Digital Firm
nearly all of the organizations significant business relationships wit hcustomer suppliers and employees are digitally enabled and mediated.
Intranets
are private networks used by corporations and extranets are similar except that they are directed at external users (like customers and suppliers).
TPS
Transaction processing systemMajor source of data for other systems
relationship between TPS and MIS here. MIS receive data from an organization's TPS systems and create outputs that management can use to make strategic decisions.
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MIS
management information systems is a specific category of information systems for middle management.
DSS
decision support systems serve middle management, they are specifically designed to assist managers in making that type of decision
ESS
executive support systems rely on accurate inputs from a firm's MIS and DSS to provide useful information to executives. Note that the digital dashboard is a common feature of modern-day ESS. Emphasize that a critical feature of ESS is ease of use and simplicity of display. Executives using an ESS want quick access to the most critical data affecting their firm
Lowcost leadership
Produce products and services at a lower price than competitors while enhancing quality and level of serviceExamples: Wal-Mart
Product differentiation
Enable new products or services, greatly change customer convenience and experienceExamples: Google, Nike, Apple
Focus on market niche
Use information systems to enable a focused strategy on a single market niche; specializeExample: Hilton Hotels
Mass Customization
the ability to offer individually tailored products or service using production resources as mass production.
Switching cost
the cost from switching from one product to another.
Opt out
permits data collection until consumer request that the data not be collected.
Opt in
a business is prohibited from collecting data unless a consumer specifically takes action to approve collection
Moores law
1 power of the processor doubles every 18 months 2 computing power doubles every 18 months 3 the price of computing falls by half every 18 months
Ethics
principles of right and wrong that individuals as free MORAL AGENTS use to make choices to guide their behavior.
Web service
a set of loosely coupled software components that exchange information.
Scalability
the ability of a computer product or system to expand to serve a larger number of users without breaking down
Grid computing
connecting geographically remote computers into a single network to create a virtual super computer by using idle processing units for other processing task
Cloud computing
a model that allows access to a shared pool of computing resources over a network
Primary key
in a database table this is a unique identifier for all of the information in any row of the table cannot be duplicated.
OLAP
online analytical processing supports multidimensional data analysis enables users to view the same data in different ways
Data mining
finds hidden patterns in large databases
Data warehousing
stores current and historical data of potential interest to the decision makers throughout the company
Logical view
shows how data is seen by end users
Physical view
shows how data is actually organized on physical media
SQL
Structured Query Language Most prominent data manipulation language today (adds change delete and retrieve data
Competive Forces Model ,Michael Porter - provides a view of the firm, its competitors, and the firms environment.
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Value chain model - specific activities in the business where competitive strategy can be best applied.
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Primary activities
mostly related to production and distribution
Support activities
make primary activites possible (infrastructure administration and management HR Technology and purchasing.