Term
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Definition
| a simplified representation or abstraction of reality. Can be used to calculate risks, understand uncertainty, change variables, and manipulate time |
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Term
| Transactional information |
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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. |
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Term
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Definition
| encompasses all organizational information, and its primary purpose is to support the performing of managerial analysis tasks. |
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Term
| Online transaction processing (OLTP) |
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Definition
| is the capturing of transaction and event information using technology to 1). process the information according to defined business rules, 2. stor the information, and (3) update existing information to reflect the new information. |
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Term
| Transaction processing system (TPS) |
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Definition
| is the basic business system that serves the operational level (analysts) in an organization. (Most common example of TPS is an operational accounting system such as payroll system or an order-entry system. |
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Term
| Online analytical processing (OLAP) |
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Definition
| is manipulation of information to create business intelligence in support of strategic decision making |
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Term
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Definition
| is a broad, general term describing information that people use to support their decision-making efforts |
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Term
| decision support systems (DSS) |
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Definition
| models information to support managers and business professionals during the decision making process. (such as BostonCoach's) |
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Term
3 models used by Decision support system (DSS)
and definitions |
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Definition
1.Sensitivity analysis- is the study of the impact that changes in one(or more) parts of the model have on other parts of the model. Users change the value of one variable repeatedly and observe the resulting changes in other variables.
2.What if analysis-checks the impact of a change in an assumption on the proposed solution.(ex. pg33)
3.Goal-seeking analysis-finds the imputs necessary to achieve a goal such as a desired level of output. Instead of observing how changes in a variable affect other variables as in what-if analysis, goal-seeking analysis sets a target value for a variable and then repeatedly changes other variables until the target value is achieved. |
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Term
| executive information system (EIS) |
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Definition
| is a specialized DSS that supports senior level executives within the organization. (DSS is different from EIS bc an EIS typically contains data from external sources as well as data from internal sources |
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Term
| Consolidation (offered in most EISs) |
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Definition
| involves the aggregation of information and features simple roll-ups to complex groupings of interrelated information. Many organizations track financial information at a regional level and then consolidate the information at a single global level |
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Term
| Drill down (part of an EIS) |
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Definition
| enables users to view details ,and details of details, of information. Viewing monthly, weekly, daily, or even hourly information represents drill down capability |
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Term
| Slice and dice (part of EIS) |
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Definition
| is the ability to look at information from different perspectives. One slice of information could display all product sales during a given promotion. Another slice could display a single product's sales for all promotions. |
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Term
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Definition
| integrate information from multiple components and tailor the information to individual preferences. Digital dashboards commonly use indicators to help executives quickly identify the status of key information or critical success factors. |
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Term
| 3 main things that measure business performance |
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Definition
1. Market pulse 2. Customer service 3. Cost driver
examples of each on page (37) |
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Term
Artificial Intelligence (AI)
the terminator
d-day
no fate |
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Definition
| AI simulates human intelligence such as the ability to reason and learn. AI systems can learn or understand from experience, make sense of ambiguous or contradictory information, and even use reasoning to solve problems and make decisions effectively |
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Term
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Definition
| are computerized advisory programs that imitate the reasoning processes of experts in solving difficult problems. |
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Term
| Neural network (AKA artificial neural network) |
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Definition
| a category of AI that attempts to emulate the way the human brain works |
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Term
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Definition
is a mathematical method of handling imprecise or subjective information
Ex. pg40 |
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Term
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Definition
| is an artificial intelligence system that mimics the evolutionary, survival-of-the-fittest process to generate increasingly better solutions to a problem. |
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Term
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Definition
| is a software that will search several retailer websites and provide a comparison of each retailer's offerings including price and availability. |
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Term
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Definition
| is a standardized set of activities that accomplish a specific task, such as processing a customer's order |
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Term
| Customer facing processes |
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Definition
| result in a product or service that is received by an organization's external customer |
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Term
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Definition
| are invisible to external customer but essential to the effective management of the business and include goal setting, day to day planning, performance feedback, rewards, and resource allocation. |
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Term
| Business process improvement |
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Definition
| attempts to understand and measure the current process and make performance improvements accordingly |
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Term
| Business process reengineering (BPR) |
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Definition
| is the analysis and redesign of work flow within and between enterprises |
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Term
| Business process modeling (or mapping) |
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Definition
| is the activity of creating a detailed flowchart or process map of a work process creating a detailed flowchart or process map or a work process showing its inputs, tasks, and activities, in a structured sequence, |
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Term
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Definition
| is a graphic description of a process, showing the sequence of process tasks, which is developed for a specific purpose and from a selected viewpoint. |
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Term
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Definition
| represent the current state of the operation that has bee mapped, without any specific improvements or changes to existing processes. |
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Term
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Definition
| show the results of applying change improvement opportunities to the current (As-Is) process model. This approach ensures that the process is fully and clearly understood before the details of a process solution are decided. |
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Term
| Business process Management (BPM) |
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Definition
| integrates all of an organizations business process to make individual processes more efficient. BPM can be used to solve a single glitch or to create one unifying system to consolidate a myriad or processes. |
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