Karteikarten
Information systems and strategy: competitive advantage terms
Karten in diesem Stapel (95)
- 1Sustainable competitive advantageFinancial performance that consistently outperforms industry averages.
- 2Operational effectivenessPerforming the same tasks better than rivals perform them
- 3Commoditya basic good that can be interchanged with nearly identical offerings by others. The more commoditized a good the greater the chances of it being based on price.
- 4Augmented-realityA technology that superimposes content, such as images and animation, on top of real-world images
- 5Strategic PositioningPerforming different tasks than rivals, or the same tasks in a different way
- 6Inventory turnsSometimes referred to as inventory turnover, stock turns, or stock turnover. It is the number of times inventory is sold or used during a given period. A higher figure means that a firm is selling products quickly
- 7StraddlingAttempts to occupy more than one position, while failing to match the benefits of a more efficient, singularly focused rival
- 8Resource-based view of competitive advantageThe strategic thinking approach suggesting that if a firm is to maintain sustainable competitive advantage, it must control an exploitable resource, or set of resources, that have four critical characteristics. These resources must be (1) valuable, (2) rare, (3) imperfectly imitable, and (4) non substitutable.
- 9Dense wave division multiplexingA technology that increases the transmission capacity (and hence speed) of fiber-optic cable. Transmissions using fiber are accomplished by transmitting light inside “glass” cables. In DWDM, the light inside fiber is split into different wavelengths in a way similar to how a prism splits light into different colors
- 10imitation-resistant value chainA way of doing business that competitors struggle to replicate and that frequently involves technology in a key enabling role
- 11value chainThe set of activities through which a product or service is created and delivered to customers.
- 12brandThe symbolic embodiment of all the information connected with a product or service
Consumers use brands to lower search costs, so having a strong brand is particularly vital for firms hoping to be the first online stop for consumers. - 13Viral marketingleveraging consumers to promote a product or service
- 14scale advantagesadvantages related to size
- 15economies of scaleWhen costs can be spread across increasing units of production or in serving multiple customers. Businesses that have favorable (this word) (like many Internet firms) are sometimes referred to as being highly scalable.
- 16switching coststhe cost a consumer incurs when moving from one product to another. It can involve actual money spent (e.g., buying a new product) as well as investments in time, any data loss, and so forth.
- 17network effectsWhen the value of a product or service increases as its number of users expands. Also known as Metclafe’s Law, or network externalities
- 18distribution channelsThe path through which products or services get to customers.
- 19APIsProgramming hooks, or guidelines, published by firms that tell other programs how to get a service to perform a task such as send or receive data.
- 20affiliatesThird parties that promote a product or service, typically in exchange for a cut of any sales.
- 21non-practicing entitiesCommonly known as patent trolls, these firms make money by acquiring and asserting patents, rather than bringing products and services to market.
- 22privateBuying up a publicly traded firm’s shares. Usually done when a firm has suffered financially and when a turnaround strategy will first yield losses that would further erode share price.
- 23porters five forcesAlso known as Industry and Competitive Analysis. A framework considering the interplay between (1) the intensity of rivalry among existing competitors, (2) the threat of new entrants, (3) the threat of substitute goods or services, (4) the bargaining power of buyers, and (5) the bargaining power of suppliers
- 24price transparencyThe degree to which complete information about price is available.
- 25information asymmetrya decision situation where one party has more or better information than its counterparty
- 26contract manufacturingOutsourcing production to third-party firms. Firms that use contract manufacturers don’t own the plants or directly employ the workers who produce the requested goods.
- 27PDAsPersonal Digital Assistants, an early name for handheld mobile computing devices
- 28Point-of-sales systemTransaction processing systems that capture purchases. Cash registers and store checkout systems are examples of point-of-sale systems. These systems are critical for capturing sales data and are usually linked to inventory systems to subtract out any sold items
- 29vertical integrationwhen a single firm owns several layers in its value chain
- 30Value chainThe set of activities through which a product or service is created and delivered to customers
- 31GriegeGoods to be further customized based on designer/ manager collaboration
- 32RFIDSmall chip-based tags that wirelessly emit a unique identifying code for the item that they are attached to. Think of RFID systems as a next-generation bar code.
- 33Logisticscoordinating and enabling the flow of goods, people , information, and other resources among locations.
- 34OmnichannelAn approach to retail that offers consumers an integrated and complementary set of shop, sales, and return experiences (e.g., retail store, online, and sometimes even phone and catalog).
- 35Information systemAn integrated solution that combines five components: hardware, software, data, procedures, and the people who interact with and are impacted by the system
- 36Return on investmentThe amount earned from expenditure
- 37operationsThe organizational activities that are required to produce goods or services. Operations activities can involve the development, execution, control, maintenance, and improvement, of an organization’s service and manufacturing procedures.
- 38show roomingThe concept where customers browse at physical retailers, but purchase products from lower-cost online rivals
- 39operating incomeIncome you generate through your operations. Sales through daily business operations minus related expenses. Net income is overall "profit" but can include things such as income from investments, expenses related to financing costs or taxes, or one-time income or expenses such as a gain from a sales or a corporate fine.
- 403 pillars of amazonselection/ variety , customer experience, low prices
- 41Account payableMoney owed for products and services purchased on credit
- 42Cash conversion cyclePeriod between distributing cash and collecting funds associated with a given operation (e.g., sales).
- 43liquidity problemsProblems that arise when organizations cannot easily convert assets to cash. Cash is considered the most liquid asset—that is, the most widely accepted with a value understood by all.
- 44Inventory turnsthe number of times inventory is sold or used during a specific period (such as a year or quarter). A higher figure means a firm is selling products quickly.
- 45A/B testingA randomized group of experiments used to collect data and compare performance among two options studied
- 46cookieA line of identifying text, assigned and retrieved by a given web server and stored by your browser
- 47Collaborative filteringA classification of software that monitors trends among customers and uses this data to personalize an individual customer’s experience
- 48two-sided network effectproducts or services that get more valuable as two distinct categories of participants expand (e.g. buyers and sellers) ( more buyers attract more sellers, and more sellers attract more buyers)
- 49Affiliate marketing programMarketing practice where a firm rewards partners (affiliates) who bring in new business, often with a percentage of any resulting sales.
- 50Flash saleOffering deep discounts of a limited quantity of inventory. Flash sales often run for a fixed period or until inventory is completely depleted. Players include Gilt Groupe and
Amazon’s MyHabit in fashion, and One Kings Lane in home décor - 51Fulfillment costsInclude receiving and packaging costs, in addition to shipping costs.
By taking control of its own shipping needs, Amazon is expected to save about a third in costs that would normally go to third parties. - 52goodwillAn accounting term for an intangible asset above and beyond the operations value of the firm. Goodwill can include the perceived value of the company’s brand name, customer base, and loyalty, positive employee relations, as well as proprietary technology and patents.
- 53ForkWhen developers start with a copy of a project’s program source code, but modify it, creating a distinct and separate product from the original base.
- 54Channel conflictexists when a firm’s potential partners see that firm as a threat. This threat could come because it offers competing products or services via alternative channels or because the firm works closely with especially threatening competitors
- 55Thin devicescomputing devices that have very little computing power in the device itself, and instead perform the bulk of computing and storage over the network, “in the cloud.” Smart speakers and television streaming sticks are examples of thin clients. The term is also used to describe applications that run in a browser , but where most of the computing happens remotely (e.g. SaaS tools like salesforce)
- 56Big dataA general term used to describe the massive amount of data available to today's managers. Big data are often unstructured and are too big and costly to easily work through use of conventional databases, but new tools are making these massive datasets available for analysis and insight.
- 57Business intelligenceA term combining aspects of reporting, data exploration and ad hoc queries, and sophisticated data modeling and analysis
- 58AnalyticsA term describing the extensive use of data, statistical and quantitative analysis, explanatory and predictive models, and fact-based management to drive decisions and actions.
- 59Machine learningtype of artificial intelligence that leverages massive amounts of data so that computers can improve the accuracy of actions and predictions on their own without additional programming.
- 60Dynamic pricingchanging pricing based on demand conditions
- 61DataRaw facts and figures
- 62InformationData presented in a context so that it can answer a question or support decision making.
- 63KnowledgeInsight derived from experience and expertise.
- 64Databaseis simply a list (or more likely, several related lists) of data
- 65Database management systemssoftware for creating, maintaining, and manipulating data.
- 66Structured query language (SQL)A language used to create and manipulate databases.
- 67Database administrator (DBA)ob title focused on directing, performing, or overseeing activities associated with a database or set of databases. These may include (but not necessarily be limited to): database design, creation, implementation, maintenance, backup and recovery, policy setting and enforcement, and security.
- 68Table or fileA list of data, arranged in columns (fields) and rows (records)
- 69Column or fieldrepresent each category of data contained in a record (e.g., first name, last name, ID number, date of birth).
- 70Row or recordrepresent a single instance of whatever the table keeps track of (e.g., student, faculty, course title).
- 71Relational databasesThe most common standard for expressing databases, whereby tables (files) are related based on common keys.
- 72TPS (transaction processing systems)Systems that record a transaction (some form of business-related exchange), such as a cash register sale, ATM withdrawal, or product return.
- 73Transactionsome kind of business exchange
- 74Loyalty cardSystems that provide rewards and usage incentives, typically in exchange for a method that provides a more detailed tracking and recording of customer activity. In addition to enhancing data collection, loyalty cards can represent a significant switching cost.
- 75Artificial intelligenceComputer software that seeks to reproduce or mimic (perhaps with improvements) human thought, decision-making, or brain functions.
- 76Data aggregatorsFirms that collect and resell data.
- 77Legacy systemsOlder information systems that are often incompatible with other systems, technologies, and ways of conducting business. Incompatible legacy systems can be a major roadblock to turning data into information, and they can inhibit firm agility, holding back operational and strategic initiatives.
- 78Data warehouseA set of databases designed to support decision-making in an organization.
- 79Data marta database or databases focused on addressing the concerns of a specific problem (e.g. increasing customer retention, improving product quality) or business unit (e.g. marketing, engineering)
- 80Data lakeA catch-all term for storage and access technologies used in Big Data. Data lakes are systems that allow for the storage of data in both structured as well as "raw," "unfiltered" formats. Data lakes also provide the tools to be able to "pipe out" data, filter it, and refine it so that it can be turned into information.
- 81HadoopA set of mostly open-source tools to manage massive amounts of unstructured data for storage, extraction, and computation.
- 82ServerlessA type of cloud computing where a third-party vendor manages servers, replication, fault-tolerance, computing scalability, and certain aspects of security, freeing software developers to focus on building "Business Solutions" and eliminating the need to spend time and resources managing the technology complexity of much of the underlying "IT Solution."
- 83canned reportsReports that provide regular summaries of information in a predetermined format.
- 84dashboardsA heads-up display of critical indicators that allow managers to get a graphical glance at key performance metrics.
- 85online analytical processing (OLAP)A method of querying and reporting that takes data from standard relational databases, calculates and summarizes the data, and then stores the data in a special database called a data cube.
- 86Data cubeA special database used to store data in OLAP reporting.
- 87OmnichannelProviding customers with a unified experience across customer channels, which may include online, mobile, catalog, phone, and retail. Pricing, recommendations, and incentives should reflect a data-driven, accurate, single view of the customer
- 88data miningThe process of using computers to identify hidden patterns in, and to build models from, large datasets.
- 89over-engineerBuild a model with so many variables that the solution arrived at might only work on the subset of data you’ve used to create it.
- 90artificial intelligenceComputer software that can mimic or improve upon functions that would otherwise require human intelligence.
- 91machine learningA type of artificial intelligence that leverages massive amounts of data so that computers can improve the accuracy of actions and predictions on their own without additional programming
- 92deep learningA type of machine learning that uses multiple layers of interconnections among data to identify patterns and improve predicted results. this most often uses a set of techniques known as neural networks and is popularly applied in tasks like speech recognition, image recognition, and computer vision.
- 93CAPTCHAsAn acronym standing for completely automated public Turing test to tell computers and humans apart. The Turing Test is, rather redundantly, an idea (rather than an official test) that one can create a test to tell computers apart from humans.
- 94OCR- Optical Character Recognition.Software that can scan images and identify text within them.
- 95Neural networksA statistical technique used in AI, and particularly in machine learning. these hunt down and expose patterns, building multilayered relationships that humans can’t detect on their own.
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- Karteikarten am Ohne Titel, erstellt von Victoria Quinn am 18/03/2021.
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