MIS 311 EXAM 1 QUESTIONS AND ANSWERS
100% VERIFIED
Fact - ANSWER The conformation or validation of an event or object
Information Age - ANSWER WHen infinite quantities of fact are widely available to anyone
who can use a computer
Data - ANSWER Raw facts that describe the characteristics of an event or object
Information - ANSWER Data converted into a meaningful and useful context
Variable - ANSWER A data characteristic that stands for a value that changes or varies over
time
Business Intelligence (BI) - ANSWER Info collected from multiple sources such as suppliers,
customers, partners, and industries that analyzes patterns, trends, and relationships for
strategic decision making
3 advantages of data mining/ BI - ANSWER 1. Firms can operate more efficiently
2. Improve forecasts
3. Identify trends
,Knowledge - ANSWER Includes the skills, experience, and expertise, coupled with info and
intelligence, that creates a person's intellectual resources
Knowledge workers - ANSWER Individuals valued for their ability to interpret and analyze info
Accounting - ANSWER Records, measures, and reports monetary transactions
Finance - ANSWER Deals with strategic financial issues including money, banking, credit,
investments, and assets
Human Resources - ANSWER Maintains policies, plans, and procedures for the effective
management of employees
Marketing - ANSWER Supports sales by planning, pricing, and promoting goods or services
Operations Management - ANSWER Manages the process of converting or transforming
resources into goods and services
Sales - ANSWER Performs the function of selling goods or service
System - ANSWER A collection of parts that link to achieve a common purpose
, Goods - ANSWER Material items or products that consumers will buy to satisfy a want/ need
Services - ANSWER Tasks performed by people that customers will buy to satisfy a want/need
Production - ANSWER The process where a business takes raw materials and processes them
or converts them into a finished product for its goods or services
Productivity - ANSWER That rate at which goods and services are produced based upon total
output given total inputs
Systems thinking - ANSWER A way of monitoring th entire system by viewing multiple inputs
being processed or transformed to produce outputs while continuously gathering feedback
on each part
Feedback - ANSWER Info that returns to its original transmitter and modifies the transmitter's
actions; helps the system maintain stability
MIS - ANSWER A business function, which moves info about people, products, and processes
across the company to facilitate decision making and problem solving; incorporates systems
thinking
Business strategy - ANSWER A leadership plan that achieves a specific set of goals or
100% VERIFIED
Fact - ANSWER The conformation or validation of an event or object
Information Age - ANSWER WHen infinite quantities of fact are widely available to anyone
who can use a computer
Data - ANSWER Raw facts that describe the characteristics of an event or object
Information - ANSWER Data converted into a meaningful and useful context
Variable - ANSWER A data characteristic that stands for a value that changes or varies over
time
Business Intelligence (BI) - ANSWER Info collected from multiple sources such as suppliers,
customers, partners, and industries that analyzes patterns, trends, and relationships for
strategic decision making
3 advantages of data mining/ BI - ANSWER 1. Firms can operate more efficiently
2. Improve forecasts
3. Identify trends
,Knowledge - ANSWER Includes the skills, experience, and expertise, coupled with info and
intelligence, that creates a person's intellectual resources
Knowledge workers - ANSWER Individuals valued for their ability to interpret and analyze info
Accounting - ANSWER Records, measures, and reports monetary transactions
Finance - ANSWER Deals with strategic financial issues including money, banking, credit,
investments, and assets
Human Resources - ANSWER Maintains policies, plans, and procedures for the effective
management of employees
Marketing - ANSWER Supports sales by planning, pricing, and promoting goods or services
Operations Management - ANSWER Manages the process of converting or transforming
resources into goods and services
Sales - ANSWER Performs the function of selling goods or service
System - ANSWER A collection of parts that link to achieve a common purpose
, Goods - ANSWER Material items or products that consumers will buy to satisfy a want/ need
Services - ANSWER Tasks performed by people that customers will buy to satisfy a want/need
Production - ANSWER The process where a business takes raw materials and processes them
or converts them into a finished product for its goods or services
Productivity - ANSWER That rate at which goods and services are produced based upon total
output given total inputs
Systems thinking - ANSWER A way of monitoring th entire system by viewing multiple inputs
being processed or transformed to produce outputs while continuously gathering feedback
on each part
Feedback - ANSWER Info that returns to its original transmitter and modifies the transmitter's
actions; helps the system maintain stability
MIS - ANSWER A business function, which moves info about people, products, and processes
across the company to facilitate decision making and problem solving; incorporates systems
thinking
Business strategy - ANSWER A leadership plan that achieves a specific set of goals or
