Chap 13 information and decision
making
data - answersraw facts and observation
information - answersdata made useful and meaningful for decision making
1. timely - available when needed
2. high quality - accurate and reliable
3. complete and sufficient
4. relevant
5. understandable
analytics - answerssystematic evaluation and analysis of information to make decision
information technology - answershelps us acquire, store, process, analyze and transmit
information
IT intensive organizations are flatter and operate with fewer levels than their more
traditional organizations
business intelligence - answersprocess of tapping or mining information systems to
extract data that are most useful for decision-makers
ex: dashboards help managers focus on most important things
management information - answersuse information technology to collect, organize and
distribute data for use in decision making
plays an important role in customer relationship management, accurately providing
information regarding customer needs, preferences and satisfaction
management advantages of IT - answersplanning: better and more timely
organizing: more ongoing and informed communication among all parts
leading: more frequent and better communication
controlling: more immediate measures of performance results
problem solving - answersprocess of identifying a discrepancy between an actual and a
desired state of affaires, then taking actions to resolve it
decisions - answerschoices among alternative possible courses of action
problems - answersperformance deficiency: most obvious problem, when actual
performance is less than desired
making
data - answersraw facts and observation
information - answersdata made useful and meaningful for decision making
1. timely - available when needed
2. high quality - accurate and reliable
3. complete and sufficient
4. relevant
5. understandable
analytics - answerssystematic evaluation and analysis of information to make decision
information technology - answershelps us acquire, store, process, analyze and transmit
information
IT intensive organizations are flatter and operate with fewer levels than their more
traditional organizations
business intelligence - answersprocess of tapping or mining information systems to
extract data that are most useful for decision-makers
ex: dashboards help managers focus on most important things
management information - answersuse information technology to collect, organize and
distribute data for use in decision making
plays an important role in customer relationship management, accurately providing
information regarding customer needs, preferences and satisfaction
management advantages of IT - answersplanning: better and more timely
organizing: more ongoing and informed communication among all parts
leading: more frequent and better communication
controlling: more immediate measures of performance results
problem solving - answersprocess of identifying a discrepancy between an actual and a
desired state of affaires, then taking actions to resolve it
decisions - answerschoices among alternative possible courses of action
problems - answersperformance deficiency: most obvious problem, when actual
performance is less than desired
