MIST 2090 - MIDTERM 1 STUDY GUIDE
WITH COMPLETE QUESTIONS AND
ANSWERS { GRADED A+}
Definition of Management Information Systems - ✔✔an organized intergration of
hardware amd software tech, 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 - ✔✔more info reliant
Ex: Targeted Ads
Business Intelligence and Data Mining help manage customer relations
Analytics strategy at Target (How Companies Learn Your Secrets) - ✔✔use
analytics to track what people search on their website and send relevant ads to
those people
, Ex: Teen Preganancy and Diaper stories
How the 3 lenses are changing business - ✔✔new combinations of minds and
machines are changing the way businesses execute their most important processes
Shifting away from HIPPO (System 1) and using more data (System 2)
Relevance of HIPPO - ✔✔highest paid person's opinion - decision making
process that occurs in a hierarchial org
what happened last time? and status quo bias - ✔✔Many companies did not
survive the transition from one age to another
EX: Electricity
EX: Nokia not developing smartphones
Definition of a business model - ✔✔describes the rationale of how an org creates,
delivers, and captures value
why we use the business model canvas - ✔✔gives a "shared lang" to think about
how to innovate in a rapidly changing socio technical context
Customer Segments - ✔✔org/business choose to serve; heart of the business
WITH COMPLETE QUESTIONS AND
ANSWERS { GRADED A+}
Definition of Management Information Systems - ✔✔an organized intergration of
hardware amd software tech, 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 - ✔✔more info reliant
Ex: Targeted Ads
Business Intelligence and Data Mining help manage customer relations
Analytics strategy at Target (How Companies Learn Your Secrets) - ✔✔use
analytics to track what people search on their website and send relevant ads to
those people
, Ex: Teen Preganancy and Diaper stories
How the 3 lenses are changing business - ✔✔new combinations of minds and
machines are changing the way businesses execute their most important processes
Shifting away from HIPPO (System 1) and using more data (System 2)
Relevance of HIPPO - ✔✔highest paid person's opinion - decision making
process that occurs in a hierarchial org
what happened last time? and status quo bias - ✔✔Many companies did not
survive the transition from one age to another
EX: Electricity
EX: Nokia not developing smartphones
Definition of a business model - ✔✔describes the rationale of how an org creates,
delivers, and captures value
why we use the business model canvas - ✔✔gives a "shared lang" to think about
how to innovate in a rapidly changing socio technical context
Customer Segments - ✔✔org/business choose to serve; heart of the business
