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MIS mid term
final
176
Management
12/07/2011

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Term
business intelligence
Definition
Information collected from multiple sources such as suppliers, customers, competitors, partners, and industries that analyze patterns, trends, and relationships for strategic decision making.
Term
business process
Definition
standardized set of activities that accomplish a specific task
Term
buyer power
Definition
one of porter's five forces, measures the ability of buyers to directly affect the price they are willing to pay for an item
Term
chief information officer
Definition
responsible for 1) overseeing all uses of MIS and 2) assuring that MIS strategically aligns with business goals and objectives
Term
chief knowledge officer
Definition
repsonsible for collecting, maintaining,and distributing company knowledge
Term
chief privacy officer
Definition
responsible for ensuing the ethical and legal use of information within the company
Term
chief security officer
Definition
responsible for ensuring the security of business systems and developing strategies and safeguward against attacks from hackers and viruses
Term
competitive advantage
Definition
a feature of a product or service on which customers place a greater value than on similar offerings from competitors
Term
data
Definition
raw facts that describe the characteristics of an event or object
Term
chief techonology officer
Definition
responsible for ensuring the speed, accuracy, availablilty, and reliability for MIS
Term
effective IT metrics
Definition
measures the impact that MIS has on business processes and activities including customer satisfaction and customer conversion rates
Term
efficiency IT metrics
Definition
measures the performance of MIS itself such as throughput, transaction speed, and system availablilty
Term
entry barrier
Definition
a feature of a product or service that customers have some to expect and competitors entering the market must offer minimal or the same in order to survive
Term
enviromental scanning
Definition
the study and interpretation of the political, economic, social and technological events and trends which influence a business, an industry or even a total market
Term
fact
Definition
a confirmation or validation of an event or object
Term
feedback
Definition
information that returns to its original transmitter and modifies the transmitters actions
Term
first-mover advantage
Definition
an advantage that occurs when a company can significantly increase its market share by being the first to market with a competitive advantage
Term
five forces model
Definition
Porter’s competitive strategy theory is based on an analysis of a company's competitive position within its environment, using the "five forces" that drive competition. These forces are the relative strength of buyers or customers; the relative strength of suppliers; the relative ease with which potential new competitors can enter the market; the potential availability of substitutes; and rivalry between competing firms.


- Buyer power: good for buyers when they have many choices.
- Supplier power: good for suppliers when buyers have few choices
- Threat of substitute products and services: good for buyers when they have alternatives to products and services.
- Threat to new entrants: good for suppliers when it is easy to enter the marketplace.
- Rivalry among existing competitors: good for buyer when competition is severe in the market.
Term
information
Definition
data converted into a meaningful useful context
Term
information techonology
Definition
Term
knowledge
Definition
skills, experience, and expertise coupled with information and intelligence that creates a person's intellectual resources
Term
knowledge worker
Definition
individuals valued for their ability to interpret and analyze information
Term
loyalty program
Definition
a program to reward customers based on spending
Term
management information systems
Definition
a business function, like accounting or human resources, which moves information about people, products, and processes across the company to facilitate decision making and problem solving
Term
product differentiation
Definition
an advantage that occurs when a company develops unique differences in its products with the intent to influence demand
Term
rivalry among existing competitors
Definition
one of porter's five forces; high when competition is fierce in a market and low when competitors are more complacent
Term
supplier power
Definition
one of porter's five forces, measures the supplier's ability to influence the prices they change for supplies
Term
supply chain
Definition
all partities involved, directly and indirectly, in obtaining raw materials or a product
Term
switching cost
Definition
costs that make a customer reluctant to switch to another product or service
Term
system
Definition
a collection of parts that link to achieve a common purpose
Term
systems thinking
Definition
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
Term
threat of new entrants
Definition
one of porter's five forces, high when it is easy for competitors to enter the market and low where there are high barriers to entry in the market
Term
threat of substitute products or services
Definition
one of porter's five forces, high when there are many alternative products or services in the market to chose from and low when there are few alternatives
Term
analytical information
Definition
encompasses all organizational information, and its primary purpose is to support the performing of managerial analysis or semi structured decisions
Term
artificial intelligence
Definition
simulates human behavior such as the ability to think and learn
Term
as-is process model
Definition
represents the current state of operation that has been mapped, without any specific improvements or changes to exisiting processes
Term
automation
Definition
involves computerizing manual tasks making them more efficient and effective and dramatically lowering operational costs
Term
benchmarking
Definition
a process of continuously measuring system results, comparing those results to optimum system performance, and identifying ways to improve the process
Term
benchmark
Definition
baseline values the system seeks to retain
Term
bottlenecks
Definition
occurs when resources reach full capacity and cannot handle any additional demand
Term
business facing process
Definition
invisible to the external customer but essential to the effective management of the business, they include goal setting, day to day planning, giving performance and feedback, and allocating resources
Term
business process
Definition
standardized set of activities that accomplish a specific task
Term
business process improvement
Definition
attempts to understand and measure the current process and make performance improvements accordingly
Term
business process management
Definition
focus on evaluting and improving processes that include both person to person workflow and system to system communications
Term
business process model
Definition
a graphic description of a process, showing the sequence of process tasks, which is developed for a specific purpose and from a selected view point
Term
business process modeling
Definition
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
Term
business process reengineering
Definition
the analysis of redesign of workflow within and between enterprises
Term
consolidation
Definition
the aggregation of data from simple roll-ups to complex groupings of interrelated information
Term
critical success factors
Definition
crucial steps companies perform to achieve their goals and objectives and implement their strategies
Term
customer facing process
Definition
results in a product or service that is received by an organizations external customer
Term
decision support system
Definition
model information using OLAP, which provides assistance in evaluating and choosing among different cources of action
Term
digital dashboard
Definition
tracks KPIs and CSFs by compiling information from multiple sources and tailoring it to meet user needs
Term
drill down
Definition
enables users to view detail, and details of details, of information
Term
executive information system
Definition
a specialized DSS that supports senior-level executives and unstructured, long term non routine decisions requiring judgment, evaluation, and insight
Term
expert system
Definition
computerized advisory programs that imitate the reasoing processes of experts in solving difficult problems
Term
fuzzy logic
Definition
a mathermatical method of handling imprecise or subjective information
Term
genetic algorithm
Definition
an AI system that mimics the evolutionary survival of the fittest process to generate increasingly better solutions to problems
Term
goal-seeking analysis
Definition
finds the inputs necessary to achieve a goal such as a desired level of output
Term
intelligent agent
Definition
a special-purpose knowledge-based information system that accomplishes a specific task on behalf of its users
Term
intelligent system
Definition
various commericial applications of artificial intelligence
Term
key performance indicators
Definition
quantifiable metrics a company uses to evaluate progress toward critical success factors
Term
model
Definition
a simplified representation or abstraction of reality
Term
neural network
Definition
a category of AI that attempts to emulate the way the human brain works
Term
online analytical processing (OLAP)
Definition
the manipulation of information to create business intelligence in support of strategic decision making
Term
online transaction processing (OLTP)
Definition
the capturing of transaction and event information using techonology to 1)process the information according to defined business rules 2)store the information 3)update existing information to relect the new information
Term
project
Definition
temporary activity a company undertakes to create a unique product, service or result
Term
redundancy
Definition
occurs when a task or activity is unnecessarily repeated
Term
return on investment
Definition
indicates the earning power of a project
Term
semistructured decision
Definition
occurs in situations in which a few established processes help to evaluate potential solutions, but not enough to lead to a definite recommended decision
Term
sensitivity analysis
Definition
a special case of what-if analysis, is the study of the impact on other variables when one variable is changed repeatedly
Term
shopping bot
Definition
software that will search several retailer websites and provide a comparision of each retailers price and offerings
Term
slice-and-dice
Definition
the ability to look at information from different prospective
Term
structured decision
Definition
involves situation where established process offer potential solutions
Term
to-be process model
Definition
shows the results of applying change improvment opportunities to the current process model
Term
transactional processing system (TPS)
Definition
the basic business system that serves the operational level and assists in making structured decisions
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 or structured decisions
Term
unstructured decision
Definition
occurs in situations in which no procedures or rules exist to guide decision makers toward the correct choice
Term
virtual reality
Definition
a computer simulated environment that can be a simluation of the real world or an imaginary world
Term
visulization
Definition
produces graphical displays of patterns and complex relationships in large amounts of data
Term
what-if analysis
Definition
checks the impact of a change in a variable or assumption on the model
Term
workflow
Definition
include the tasks, activities, and responsiblities required to execute each step in a business process
Term
association detection
Definition
Reveals the relationship between variables along with the nature and frequency of the relationships
Term
attribute
Definition
The data elements associated with an entity
Term
business critical integrity constraint
Definition
Enforces business rules vital to an organizations success and often requires more insight and knowledge than relational integrity constraints
Term
cluster analysis
Definition
technique used to divide information sets into mutually exclusive groups such that the members of each group are as close together as possible and the different groups are as far apart as possible
Term
cube
Definition
the common term for the representation of multidimensional information
Term
data dictionary
Definition
Compiles all of the metadata about the data elements in the data model
Term
data driven website
Definition
An interactive website kept constantly updated and relevant to the needs of the customers using the database
Term
data element
Definition
The smallest or basic unit of information
Term
data governance
Definition
The overall management of the availability, usability, integrity, and security of company data
Term
data inconsistency
Definition
Occurs when the same data element has different values
Term
data integrity issues
Definition
occurs when a system produces incorrect, inconsistent, or duplicate data
Term
data mart
Definition
Contains a subset of data warehouse information
Term
data mining
Definition
The process of analyzing data to extract information not offered by the raw data alone
Term
data mining tool
Definition
Uses a variety of techniques to find patterns and relationships in large volumes of information that predict future behavior and guide decision making
Term
data model
Definition
Logical data structures that detail the relationships among data elements by using graphics or pictures
Term
data quality audit
Definition
Determines the accuracy and completeness of its data
Term
data redundancy
Definition
The duplication or storage of the same data in multiple places
Term
data warehouse
Definition
A logical collection of information, gathered from many different logical databases, that supports business analysis activities and decision making tasks
Term
database
Definition
Maintains information about various types of objects, events, people, and places
Term
database management system
Definition
Creates, reads, updates, and deletes data in a database while controlling access and security
Term
entity
Definition
Stores information about a person, place, thing, transaction, or event
Term
extraction, transformation, and loading (ETL)
Definition
A process that extracts information from internal and external databases, transforms it using a common set of enterprise definitions, and loads it into a data warehouse
Term
forecasts
Definition
Predictions based on time series information
Term
foreign key
Definition
A primary key of one table that appears as an attribute of another table and acts to provide a logical link between the two tables
Term
forward integration
Definition
Takes information entered into a system and sends it automatically to all downstream systems and processes
Term
information
Definition
Data converted into meaningful and useful context
Term
information cleaning or scrubbing
Definition
A process that weeds out and fixes or discards inconsistent, incorrect, or incomplete information
Term
information granularity
Definition
The extent of detail within the information
Term
information integrity
Definition
A measure of the quality of information
Term
integrity constraint
Definition
Rules that help ensure the quality of information
Term
logical view
Definition
Shows how individual users logically access information to meet their own particular business needs
Term
market basket analysis
Definition
Analyzes such items as websites and checkout basket scanner information to detect customer buying behavior and predict future behavior by identifying affinities among customers choices of products and services
Term
metadata
Definition
Data about data
Term
physical view
Definition
The physical storage of information on a storage device
Term
primary key
Definition
A field that uniquely identifies a record in a field
Term
real-time information
Definition
Immediate, up-to-date information
Term
real-time systems
Definition
Provides real time information in response to requests
Term
record
Definition
A collection of related data elements
Term
relational database management system
Definition
Allows users to create, read, update, and delete data in a relational database
Term
relational database model
Definition
Stores information in the form of logically related two-dimensional tables
Term
relational integrity constraint
Definition
Rules that enforce basic and fundamental information-based constraints
Term
statistical analysis
Definition
Performs such functions as information correlations, distributions, calculations, and variance analysis
Term
structured data
Definition
Data already in a database or spreadsheet
Term
structured query language
Definition
User writes lines of code to answer questions against a database
Term
text mining
Definition
Analyzes unstructured data to find trends and patterns in words and sentences
Term
time series information
Definition
Time stamped information collected at a particular frequency
Term
unstructured data
Definition
Data that do not exist in a fixed location and can include text documents, PDFs, voice messages, emails, etc.
Term
web mining
Definition
Analyzes unstructured data associated with websites to identify consumer behavior and website navigation
Term
bullwhip effect
Definition
Occurs when distorted product demand ripples from one partner to the next throughout the supply chain
Term
demand planning system
Definition
generate demand forecasts using statistical tools and forecasting techniques, so companies can respond faster and more effectively to consumer demands through supply chain enhancements
Term
operations management
Definition
Term
supply chain
Definition
All parties involved, directly or indirectly, in obtaining raw materials or a product
Term
supply chain management
Definition
The management of information flows between and among activities in a supply chain to maximize total supply chain effectiveness and corporate profitability
Term
supply chain planning (SCP) system
Definition
Uses advanced mathematical algorithms to improve the flow and efficiency of the supply chain while reducing inventory
Term
supply chain visibility
Definition
The ability to view all areas of the supply chain up and down in real time
Term
tactical planning
Definition
Term
transformation process
Definition
Term
transportation planning system
Definition
Term
value added
Definition
Term
supply chain execution (SCE)
Definition
Ensures supply chain cohesion by automating the different processes in the supply chain
Term
Accounting and Finance ERP Component
Definition
Manages accounting data and financial processes within the enterprise with functions such as general ledger, accounts payable, accounts receivable, budgeting, and asset management
Term
Backward Integration
Definition
Takes information entered into a given system and automatically sends it to all upstream processes and systems
Term
core ERP components
Definition
The traditional components included in most ERP systems and primarily focus on internal operations
Term
e-logistics
Definition
Term
enterprise application integration (EAI) middleware
Definition
Takes a new approach to middleware by packing commonly used applications together, reducing the time needed to integrate applications from multiple vendors
Term
enterprise resource planning (ERP)
Definition
Integrates all departments and functions throughout an organization into a single IT system so employees can make decisions by viewing enterprise wide information about all business operations
Term
enterprise system
Definition
Provides enterprise wide support and data access for a firms operations and business processes
Term
eprocurement
Definition
The business to business online purchase and sale of supplies and services
Term
extended ERP component
Definition
The extra components that meet organizational needs not covered by the core components and primarily focus on external operations
Term
forward intergration
Definition
takes information entered into any given system and sends it automatically to all downstream systems and processes
Term
human resources ERP component
Definition
Tracks employee information including payroll, benefits, compensation, performance assessment, and ensures compliance with all laws
Term
middleware
Definition
Several different types of software that sit between and provide connectivity for two or more software applications
Term
production and materials management ERP component
Definition
Handles production planning and execution tasks such as demand forecasting, production scheduling, job cost accounting, and quality control
Term
analytical CRM
Definition
Supports back office operations and strategic analysis and includes all systems that do not deal directly with the customer
Term
call scripting system
Definition
Gathers product details and issue resolution information that can be automatically generated into a script for the representative to read to the customer
Term
campaign management system
Definition
Guides users though marketing campaigns by performing such tasks as campaign definitions, planning, scheduling, segmentation, and success analysis
Term
click-to-talk
Definition
Allows customers to click on a button and talk to a representative via internet
Term
contact center
Definition
Where customer service representatives answer customer inquiries and solve problems by email, chat, or phone
Term
contact management CRM system
Definition
Maintains customer contact information and identifies prospective customers for future sales, using tools such as organizational charts, detailed customer notes, and supplemental sales information
Term
customer relationship management
Definition
A means of managing all aspects of a customer’s relationship with an organization to increase customer loyalty and retention and an organizations profitability
Term
CRM analysis techonology
Definition
Helps organizations segment customers into categories such as best and worst customers
Term
CRM predicting techonology
Definition
Helps an organization predict a customer’s behavior
Term
CRM reporting technology
Definition
helps an organization define their customers across other applications
Term
cross selling
Definition
Selling additional products or services to an existing customer
Term
demand planning system
Definition
generates demand forecasts using statistical tools and forecasting techniques, so companies can respond faster and more effectively to customer demands through supply chain enhancements
Term
employee relationship management
Definition
Provides web based self service tools that streamline and automate the HR department
Term
operational CRM
Definition
Supports traditional transactional processing for day to day front office operations or systems that deal directly with the customers
Term
opportunity management CRM system
Definition
Targets sales opportunities by finding new customers or companies for future sales
Term
partner relationship management
Definition
Discovers optimal sales channels by discovering the right partners and identifying mutual customers
Term
sales force automation (SFA)
Definition
Automatically tracks all the steps in the sales process
Term
sales management CRM system
Definition
Automates each phase of the sales process, helping individual sales representatives coordinate and organize all their accounts
Term
Supplier Relationship management (SRM)
Definition
Focuses on keeping suppliers satisfied by evaluating and categorizing suppliers for different projects
Term
up-selling
Definition
Increase the value of the sale
Term
web based self service system
Definition
Allows customers to use the web to find answers to their questions or solutions to their problems
Term
website personalization
Definition
Occurs when a website has stored enough data about a person’s likes and dislikes to fashion offers more likely to appeal to that person