Chapter 7 Information and Decision
Making
technological competency - answersthe ability to understand new technologies and to
use them to their best advantage
information competency - answersthe ability to locate, gather and organize information
for use in decision making
analytical competency - answersthe ability to evaluate and analyze information to make
actual decisions and save real problems
data - answersraw facts and observations
information - answersdata made useful for decision making
Five Criteria to turn date into information - answers1. timely 2. high quality 3. complete
4. relevant 5. understandable
analytics - answersinvolves systematically gathering and processing of data to make
informed decisions
management information systems (MIS) - answersuse IT to collect, organize, and
distribute data for use in decision making.
Business Intelligence - answerstaps information systems to extract and report data in
organized ways that are helpful to decisions makers.
Executive Dashboards "market trends" - answersvisually display graphs, charts, and
scorecards of keys indicators and information on a real-time basis.
Horizontal flow of information within organization come in the form of _______. -
answerscross-functional coordination and problem solving
upward flow of information within organization come in the form of _______. -
answersperformance reports, suggestions for improvement, and disputes.
Managers as information processors: - answerscontinually gather, give and receive
information.
Making
technological competency - answersthe ability to understand new technologies and to
use them to their best advantage
information competency - answersthe ability to locate, gather and organize information
for use in decision making
analytical competency - answersthe ability to evaluate and analyze information to make
actual decisions and save real problems
data - answersraw facts and observations
information - answersdata made useful for decision making
Five Criteria to turn date into information - answers1. timely 2. high quality 3. complete
4. relevant 5. understandable
analytics - answersinvolves systematically gathering and processing of data to make
informed decisions
management information systems (MIS) - answersuse IT to collect, organize, and
distribute data for use in decision making.
Business Intelligence - answerstaps information systems to extract and report data in
organized ways that are helpful to decisions makers.
Executive Dashboards "market trends" - answersvisually display graphs, charts, and
scorecards of keys indicators and information on a real-time basis.
Horizontal flow of information within organization come in the form of _______. -
answerscross-functional coordination and problem solving
upward flow of information within organization come in the form of _______. -
answersperformance reports, suggestions for improvement, and disputes.
Managers as information processors: - answerscontinually gather, give and receive
information.
