MIST 2090 UGA JETHA MIDTERM 1| 2026 |
GUARANTEED PASS
definition of MIST - Answers -organized integration of hardware and software
technologies, data, processes and human elements designed to produce timely,
integrated, relevant, accurate, and useful info for decision making purposes
Changes in how a company sells to customers (flower shop example) - Answers -then:
-florists had single, stand alone shops
-florists projected sales based on availability
-customers buy what is available in store
today:
-online florists with more variety of flowers
-sophisticated ERP systems manage routine tasks, business intelligence and data
mining help manage customer relationships
- all of this requires info
Analytics strategy at Target ("How Companies Learn Your Secrets") - Answers --use
most searched items and sent coupons
-hide coupons amongst everyday items to not be obvious
3 lenses - Answers -1) Processes
new combinations of minds and machines are changing the way businesses execute
their most important processes
2) Offerings
pioneering companies are bringing together products and platforms to transform their
offerings
3) Organizations
the core of the crowd are are altering what organizations themselves look like, and how
they work
"What happened last time?" - Answers --electricity in process of of taking over from
steam power
-many successful incumbent companies did not survive power source transition
status quo bias - Answers -affairs; blindness to obvious progressions, "curse of
knowledge"
definition of business model - Answers -describes the rationale of how an organization
creates, delivers, and captures value
Business Model Canvas - Answers --9 building blocks
- shows logic of how companies will make money
GUARANTEED PASS
definition of MIST - Answers -organized integration of hardware and software
technologies, data, processes and human elements designed to produce timely,
integrated, relevant, accurate, and useful info for decision making purposes
Changes in how a company sells to customers (flower shop example) - Answers -then:
-florists had single, stand alone shops
-florists projected sales based on availability
-customers buy what is available in store
today:
-online florists with more variety of flowers
-sophisticated ERP systems manage routine tasks, business intelligence and data
mining help manage customer relationships
- all of this requires info
Analytics strategy at Target ("How Companies Learn Your Secrets") - Answers --use
most searched items and sent coupons
-hide coupons amongst everyday items to not be obvious
3 lenses - Answers -1) Processes
new combinations of minds and machines are changing the way businesses execute
their most important processes
2) Offerings
pioneering companies are bringing together products and platforms to transform their
offerings
3) Organizations
the core of the crowd are are altering what organizations themselves look like, and how
they work
"What happened last time?" - Answers --electricity in process of of taking over from
steam power
-many successful incumbent companies did not survive power source transition
status quo bias - Answers -affairs; blindness to obvious progressions, "curse of
knowledge"
definition of business model - Answers -describes the rationale of how an organization
creates, delivers, and captures value
Business Model Canvas - Answers --9 building blocks
- shows logic of how companies will make money
