IT Quiz 1
Terms in this set (61)
A way to raise money for new projects by asking for contributions from a large number of people via the web. It is peer to peer funding. Also
able to adapt rapidly: This has never been greater because of bad economic conditions and advances in mobile technology.
The ability to connect with customers anywhere/time. The shift from PCs to mobile devices has made location irrelevant to a large extent.
Business Strategy, Organizing Structure Strategy, Information System Strategy
The IT platform and payment system that enables people to people commerce.
4 current technology trends that offer valuable business opportunities
Social, Cloud, Mobile, Data Analytics
Specialized software, capabilities, and components all geared toward exploring huge volumes of data to provide insight and intelligence QUICKLY
Data which cannot be organized in a way that a computer can easily process (i.e. tweets, posts, images)
These include smartphones, social networks, click streams from online activities, location-aware mobile devices, scanners/sensors
Huge sets of messy data from data sources. The analytics of this is the next frontier of opportunities.
This type of information is relevant, timely, accurate, and easy to understand
Top 5 Management Concerns
Productivity, IT and business alignment, Agility, BPR, Reliability
A series of tasks performed by people or systems that are designed to produce a specific output or achieve a predetermined outcome; tasks are carried out to certain rules, standards, and policies.
This type of IT help to run the business more efficiently, identify trends and relationships in data, or create business opportunities; Tools and techniques that process data and do statistical analysis for insight and discovery.
This type of IT refers to various computing and network arrangements. This makes it possible for anyone to deploy tools that can scale on demand.
Enterprise Resource Planning
This type of IT consists of systems that are commercial software packages bought as modules and are integrated.
This type of IT offered as a service, in a pay-per-use arrangement so that software is available to people when they need it.
This type of IT consists of tools that help people work together in a n organized way and manage their tasks more effectively regardless of location.
The IT capacity to easily be scaled up or down.
The migration of consumer technology into enterprise computing environments: This has occurred because personally-owned IT is as capable and cost effective as enterprise equivalents.
The component of corporate profitability that determines the range of profitability of the average competitor and can be difficult to change.
The component of corporate profitability that is the edge of a company to outperform its competitor. These can only be sustained by continually pursuing new ways to compete.
Technologies with the potential for significant impact on the enterprise during the next three years
The scanning and review of the politic, social, economic, and technical environment of the organization.
An analysis taken to evaluate the strengths and weaknesses, and opportunities and threats.
A series of processes in which an organization selects and arranges its businesses or services to keep the organization viable even when unexpected events cause disruption.
This defines the plan for how a business will achieve its mission, goals and objectives. Also specifies the necessary financial requirements, budgets and resources.
Competitive Forces Model
Michael Porter's model used to identify competitive strategies.
Threat of entry, Supplier Power, Buyer Power, Threat of substitute, competitive rivalry
Five Forces of the Competitive Forces Model
The activities through which a company produces goods thus creating value for which customers are willing to pay (i.e. Inbound logistics, operations, outbound logistics, marketing, services)
The activities including the firm's infrastructure/accounting/mgmt/finance, HR mgmt, technology department, procurement (purchasing)
Critical Success Factors
THe things that must go right for a company to achieve its mission (i.e. Innovation and Adaptability).
A stream of activities from the supplier to the firm to the buyer
A part of a stream of activities in the value chain
A complex set of social and technical resources which work together via relationships to create social goods which take form as knowledge, intangibles, or financial value.
This describes how a company actually operates; how work is done, the degree of automation, the pricing and design of products or services, and how the company generates sales revenue and profit to sustain itself.
The technology archives digital and physical data to meet business needs as well regulatory and legal requirements.
Zero-downtime, zero data loss, and continuous access to data, analytics, and reporting.
An organization's ability to get information to the people who need it to make decisions or react appropriately to business events.
A method to retrieve information from a database or warehouse (Structure Query Language)
Collections of records stored in systematic ways; store data generated by business apps, sensors, and transaction processing systems in a systematic way.
This refers to the fact that the data are constantly changing.
Technology that integrates data from multiple databases and data silos and organize them for complex analysis, knowledge discovery, and to support decision making.
Small scale data warehouses that support a single function or department.
Database management systems
Computer programs used to manage the additions, updates, and deletions of data as transactions occur; and support data queries and reporting.
Online Transaction Processing
Systems designed to manage transaction data (which are volatile)
The type of database which stores all related files in a central physical location. This is beneficial because of better quality and better security, but has transmission delay when users are geo-dispersed.
The type of database which allows apps on computers and mobiles to access data from local and remote databases
Poor quality data which lack integrity and cannot be trusted. Costs of this include lost business, to prevent errors, correcting errors.
Who owns or is responsible for data. Problems in this exist when there are no policies defining responsibility/accountability for managing data.
Principle of Diminishing Data Value
The value of data diminishes as they age.
Principle of 90/90 data use
According to this, a majority of stored data (__%) is seldom accessed after __ days.
Principle of data in context
The capability to capture, process, format, and distribute data in near real time.
Master data management
A set of processes to integrate data from various sources or enterprise applications to create and maintain a more unified view of a customer, product, or other core data entity that is shared across systems. Cannot create a completely unified view - impossible = instead consolidates into a master reference file.
The enterprise's business entities upon which transactions are done and the dimensions (Customer, Product, Supplier, Account, and Site) around which analyses are done.
Anything real or abstract about which a company wants to collect and store data. A master ____ ______ are the main entities of a company such as customers, products, suppliers, employees, and assets.
Master Data entities
The main entities of a company suc
Online Analytical Processing Systems
Systems that the data can be queried and analyzed much more efficiently. Data warehouses are designed this way.
Operational Data Store
A database for transaction processing systems that uses data warehouse concept to provide clean data. Used in short term decisions.
The process of analyzing data from different perspectives and summarizing it into information that can be used to increase revenues, decrease costs, or both. Also called data mining.
A broad category that involves interpreting words and concepts into context.