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Exam 2 Terms
MANGT 366 - Bill Borth
63
Business
Undergraduate 3
11/08/2011

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Term
Analytical Information
Definition
encompasses all organization information, and its primary purpose is to support the performing of managerial analysis tasks (i.e. trends, sales, product statistics)
Term
Real-Time Information
Definition
means immediate, up-to-date information
Term
Real-Time Systems
Definition
provide real-time information in response to query requests
Term
Transactional Information
Definition
encompasses all of the information contained within a single business process or unit of work, and its primary purpose is to support the performing of daily operational tasks (i.e. withdrawing cash from an ATM, making an airline reservation)
Term
Database
Definition
maintains information about various types of objects (inventory), events (transactions), people (employees), and places (warehouses)
Term
Relational Database Model
Definition
a type of database that stores information in the form of logically related two-dimensional tables
Term
Hierarchical Database Model
Definition
information is organized into a tree-like structure that allows repeating information using parent/child relationships in such a way that it cannot have too many relationships
Term
Network Database Model
Definition
a flexible way of representing objects and their relationships
Term
Entity (record)
Definition
a person, place, thing, transaction, or event about which information is stored
Term
Attributes (fields)
Definition
are characteristics or properties of an entity class--also called columns
Term
Files (databases)
Definition
Term
Primary Key
Definition
is a field (or group of fields) that uniquely identifies a given entity in a table
Term
Foreign Key
Definition
in the relationship database model is 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
Term
Composite Key
Definition
in the relationship database model is a primary that is made up with two or more fields
Term
Scalability
Definition
refers to how well a system can adapt to increased demands
Term
Performance
Definition
measures how quickly a system performs a certain process or transaction
Term
Database Management System (DBMS)
Definition
is software through which users and application programs interact with a database--two primary ways: (1)Directly (2)Indirectly
Term
Data-Driven Website
Definition
an interactive website kept constantly updated and relevant to the needs of its customers through the use of a database
Term
Integration
Definition
allows separate systems to communicate directly with each other
Term
Forward Integration
Definition
takes information entered into a given system and sends it automatically to all downstream systems and processes
Term
Backward Integration
Definition
takes information entered into a given system and sends it automatically to all upstream systems and processes
Term
Data Warehouse
Definition
is a logical collection of information--gathered from many different operational databases--that supports business analysis activities and decision-making tasks
Term
Data Mart
Definition
contains a subset of data warehouse information
Term
Extraction, Transformation, and Loading (ETL)
Definition
a process that extracts information from internal and external databases, transforms the information using a common set of enterprise definitions, and loads the information into a data warehouse
Term
Cube
Definition
is the common term for the representation of multidimensional information
Term
Data Mining
Definition
the process of analyzing data to extract information not offered by the raw data alone
Term
Data-Mining Tools
Definition
use a variety of techniques to find patterns and relationships in large volumes of information and infer rules from them that predict future behavior and guide decision making (i.e. query tools, reporting tools, statistical tools)
Term
Information Cleansing or Scrubbing
Definition
a process that weeds out and fixes or discards inconsistent, incorrect, or incomplete information
Term
Business Intelligence (BI)
Definition
refers to applications and technologies that are used to gather, provide access to, and analyze data and information to support decision-making efforts
Term
E-business
Definition
the conducting of business on the internet, not only buying and selling, but also serving customers and collaborating with business partners
Term
Online Transaction Processing (OLTP)
Definition
is the capturing of transaction and event information using technology to (1)process the information according to defined business rules, (2)store the information, and (3)update existing information to reflect the new information
Term
Transaction Processing System (TPS)
Definition
the basic business system that serves the operational level (analysts) in an organization
Term
Online Analytical Processing (OLAP)
Definition
the manipulation of information to create business intelligence in support of strategic decision making
Term
Decision Support System (DSS)
Definition
models information to support managers and business professionals during the decision-making process--typically contains data from internal sources
Term
3 Quantitative DSS Analysis Models
Definition
(1)Sensitivity Analysis
(2)What-if Analysis
(3)Goal-seeking Analysis
Term
What-If Analysis
Definition
checks the impact of a change in an assumption on the proposed solution (ex. What will happen to the supply chain if a hurricane in S.C. reduces holding inventory from 30% to 10%?)
Term
Goal-Seeking Analysis
Definition
finds the inputs necessary to achieve a goal such as a desired level of output (ex. How many customers are required to purchase our new product line to increase gross profits to $5 million?)
Term
Executive Information System (EIS)
Definition
is a specialized DSS that supports senior-level executives within the organization--typically contains data from external sources
Term
Drill-Down
Definition
a capability offered by most EIS's that enables users to get details, and details of details, of information
Term
Slice-and-Dice
Definition
a capability offered by most EIS's that is the ability to look at information from different perspectives
Term
Consolidation
Definition
a capability offered by most EIS's that involves the aggregation of information and features simple roll-ups to complex groupings of interrelated information
Term
Digital Dashboard
Definition
integrates information from multiple components and tailors the information to individual preferences
Term
Artificial Intelligence (AI)
Definition
simulates human intelligence such as the ability to reason and learn
Term
4 Categories of AI Systems
Definition
(1)Expert Systems (2)Neural Networks (3)Genetic Algorithms (4)Intelligent Agents
Term
Expert Systems
Definition
a category of AI that are computerized advisory programs that imitate the reasoning processes of experts in solving difficult problems--most commonly used form
Term
Neural Network
Definition
a category of AI that attempts to emulate the way the human brain works--most common types involve pattern or image recognition
Term
Fuzzy Logic
Definition
is a mathematical method of handling imprecise or subjective information
Term
Genetic Algorithm
Definition
is a category of AI that mimics the evolutionary, survival-of-the-fittest process to generate increasingly better solutions to a problem--it finds the combination of inputs to yield the best outputs
Term
Intelligent Agent
Definition
a category of AI that is a special-purpose knowledge-based information system that accomplishes specific tasks on behalf of its users
Term
Shopping Bot
Definition
is software that will search several retailer websites and provide a comparison of each retailer's offerings--one of the simplest examples of an intelligent agent
Term
Supply Chain
Definition
consists of all parties involved, directly or indirectly, in the procurement of a product or raw material
Term
Supply Chain Management (SCM)
Definition
managing information flows within the supply chain to maximize total supply chain effectiveness and profitability
Term
Bullwhip Effect
Definition
occurs when distorted product demand information passes from one entity to the next throughout the supple chain
Term
2 Types of SCM Software
Definition
(1)Supply Chain Planning (SCP) software
(2)Supply Chain Execution (SCE) software
Term
Supply Chain Planning (SCP)
Definition
uses advanced mathematical algorithms to improve the flow and efficiency of the supply chain while reducing inventory
Term
Supply Chain Execution (SCE)
Definition
automates the different steps and stages of the supply chain
Term
2 Primary Components of a CRM Strategy
Definition
(1)Operational CRM
(2)Analytical CRM

**the difference is the direct interaction between the organizational and its customers
Term
Operational CRM
Definition
supports traditional transactional processing for day-to-day front-office operations or systems that deal directly with the customers
Term
Analytical CRM
Definition
supports back-office operations and strategic analysis and includes all systems that do not deal directly with the customers
Term
Enterprise Resource Planning (ERP)
Definition
integrating all departments and functions throughout an organization into a single IT system so that managers and leaders can make enterprisewide decisions on all business operations
Term
Customer Relationship Management (CRM)
Definition
managing all aspects of customers' relationships with an organization to increase customer loyalty and retention and an organization's profitability
Term
Middleware
Definition
are several different types of software that sit in the middle of and provide connectivity between two or more software applications--translates information between disparate systems
Term
Logistics
Definition
is the set of processes that plans for and controls the efficient and effective transportation and storage of supplies from suppliers to customers
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