Miami University ISA 235 Final | 170
Questions and Answers
Internet of things - -A world where interconnected, internet-enabled devices or "things"
can collect and share data without human intervention.
-Value Chain: Primary Vs. Support - -Views a firm as a series of business processes that
each add value. Primary: The firm acquiring raw materials, manufacturing, delivering,
marketing and selling. Support: Actual firm infrastructure such as HR, Management, Tech.
Dept.
-Data - -Raw facts that describe the characteristics of an event or object
-Information - -Data converted into meaningful and useful context
-Metrics - -Measurements that evaluate results to determine whether a project is meeting
its goals
-BI - -Information collected from multiple sources such as suppliers, customers,
competitors, partners, and industries that analyze patterns, trends, and relationships for
strategic decision making
-Analytics - -The science of fact based decision making
-Knowledge - -Skills, experience, and expertise coupled with information and intelligence
that creates a person's intellectual resources
-System - -a collection of parts that link to achieve a common purpose
-Systems Thinking - -A way of monitoring the entire system by viewing multiple inputs
being processes or transformed to produce outputs while continuously gathering feedback
on each part
-Porters 5 forces - -Evaluates 5 forces: Buyer, Supplier, Threat of New Entrants, Substitute
Products/Services, and Rivalry
-Porters 3 generic strategies - -Generic business strategies that are neither organziation
nor industry specific and can be applied to an business, product, or service
-CIO - -Responsible for (1) overseas all uses of MIS and (2) ensuring that MIS strategically
aligns with business goals and objectives
-SWOT - -Evaluates Strengths (inside), Weaknesses (inside), Opportunities (outside), and
Threats (outside)
, -Model - -A simplified representation of reality
-Transactional Info - -Encompasses all of the info contained within a single business
process or unit of work and its purpose is to support the daily operations or structured
decisions
-Analytical Info - -Encompasses all organization information and its primary purpose is to
support the performing of managerial analysis or semistructured decisions
-Business Process - -Standardized set of activities that accomplish a specific task
-Ganularity - -Refers to the level of detail in the model or the decision making process
-Visualization - -Produces graphical displays of patterns and complex relationships in
large amounts of data
-Artificial Intelligence - -Simulates human thinking and behavior such as the ability to
reason and learn
-Decision Support System (DSS) - -Model Information using OLAP, which provides
assistance in evaluating and choosing among different courses of action
-Online Analytical Processing (OLAP) - -The manipulation of information to create BI in
support of strategic decision making
-Executive information System (EIS) - -A specialized DSS that supports senior-level
executives
-BPMN - -Business Process Model and Notation: a graphical notation that depicts the steps
in a business process
-Business process Reengineering - -The analysis and redesign of workflow within and
between enterprises
-Best Practices - -The most successful solutions or problem-solving methods that have
been developed by a specific organization or industry
-Disruptive Technology - -A new way of doing things that initially does not meet the needs
of existing users
-Sustaining Technology - -Produces an implied product customers are eager to buy
-Internet - -A massive network that connects computers all over the world and allows
them to communicate with eachother
Questions and Answers
Internet of things - -A world where interconnected, internet-enabled devices or "things"
can collect and share data without human intervention.
-Value Chain: Primary Vs. Support - -Views a firm as a series of business processes that
each add value. Primary: The firm acquiring raw materials, manufacturing, delivering,
marketing and selling. Support: Actual firm infrastructure such as HR, Management, Tech.
Dept.
-Data - -Raw facts that describe the characteristics of an event or object
-Information - -Data converted into meaningful and useful context
-Metrics - -Measurements that evaluate results to determine whether a project is meeting
its goals
-BI - -Information collected from multiple sources such as suppliers, customers,
competitors, partners, and industries that analyze patterns, trends, and relationships for
strategic decision making
-Analytics - -The science of fact based decision making
-Knowledge - -Skills, experience, and expertise coupled with information and intelligence
that creates a person's intellectual resources
-System - -a collection of parts that link to achieve a common purpose
-Systems Thinking - -A way of monitoring the entire system by viewing multiple inputs
being processes or transformed to produce outputs while continuously gathering feedback
on each part
-Porters 5 forces - -Evaluates 5 forces: Buyer, Supplier, Threat of New Entrants, Substitute
Products/Services, and Rivalry
-Porters 3 generic strategies - -Generic business strategies that are neither organziation
nor industry specific and can be applied to an business, product, or service
-CIO - -Responsible for (1) overseas all uses of MIS and (2) ensuring that MIS strategically
aligns with business goals and objectives
-SWOT - -Evaluates Strengths (inside), Weaknesses (inside), Opportunities (outside), and
Threats (outside)
, -Model - -A simplified representation of reality
-Transactional Info - -Encompasses all of the info contained within a single business
process or unit of work and its purpose is to support the daily operations or structured
decisions
-Analytical Info - -Encompasses all organization information and its primary purpose is to
support the performing of managerial analysis or semistructured decisions
-Business Process - -Standardized set of activities that accomplish a specific task
-Ganularity - -Refers to the level of detail in the model or the decision making process
-Visualization - -Produces graphical displays of patterns and complex relationships in
large amounts of data
-Artificial Intelligence - -Simulates human thinking and behavior such as the ability to
reason and learn
-Decision Support System (DSS) - -Model Information using OLAP, which provides
assistance in evaluating and choosing among different courses of action
-Online Analytical Processing (OLAP) - -The manipulation of information to create BI in
support of strategic decision making
-Executive information System (EIS) - -A specialized DSS that supports senior-level
executives
-BPMN - -Business Process Model and Notation: a graphical notation that depicts the steps
in a business process
-Business process Reengineering - -The analysis and redesign of workflow within and
between enterprises
-Best Practices - -The most successful solutions or problem-solving methods that have
been developed by a specific organization or industry
-Disruptive Technology - -A new way of doing things that initially does not meet the needs
of existing users
-Sustaining Technology - -Produces an implied product customers are eager to buy
-Internet - -A massive network that connects computers all over the world and allows
them to communicate with eachother
