Karteikarten
115 info systems
Karten in diesem Stapel (67)
- 1Information science is ...The study of information and in particular, its role within an organisation.
- 2What are the 5 trends in information?Increased mobility, Mechanical/digitalised/retrievable, info smaller lighter and easily accesible, information everywhere, and information overload
- 3What is the relationship between data and information?Information gives context to data to make it mean more than just a number
- 44 attributes of Information QualityTimelines, location, form and validity
- 5Information technology is...the use of systems for storing, receiving and communicating information.
- 6What are transaction processing systems?A collection of people, procedures, software, databases, and devices used to record business transactions
- 7Describe the relationship between information technology and information systemsInformation Technology encompasses hardware and software, whereas Information Systems also include people and process
- 8Examples of business and non business ICT systemsICT: Fincance managemnt, product delivery, customer relations, ICT support systems.
- 9Break even point and break even point + profit formulas.Fixed costs/ contribution margin ratio
and fixed costs + desired profit/ Contribution margin ratio - 10What are the weakness of break even analysisNon linearity as it assumes linear relationship between sales and costs.
Stepped fixed costs.
Numerous product business - 11What are the relevant and irrelevant costs?Relevant are differential and opportunity,
Irrelevant are allocated and sunk costs - 12Factors that need to be considered in making a decision.Strategy, competitiveness, employees and expertise, resources.
- 133 ways total costs can be broken intoDirect and indirect, period and product, variable and fixed
- 14POAR= whatEstimated overhead costs/ estimated total units
- 15What are the two assumptions of cost volume profit analysis?relevant range and linearity- that costs behave in a perfectly straight line.
- 16what must be the case to decide to make or buy?for make- avoidable cost must be less that the purchase price
for buy- the avoidable cost must be greater than the purchase price. - 17what does variance= and how is it treatdApplied over head - actual overhead, if not significant is just expensed to cost of goods sold, if it is significant it is distributed accordingly between COGS finished goods and work-in process
- 18What is budgeting?Budgeting focuses on the short term and results in short term plans that create a financial framework
- 19What are the uses of budgeting?promote forward thinking and identify short term problems, Help coordinate various sections of the business, Motivate better performance of managers, Provides some kind of control, provides an authorisation system.
- 20The order in which budgets are preparedSales forecast
production budget ( always measured in units)
purchases budget
collection of receipts budget
cash budget
flexible budgets - 21What must a budgetary control system ensure?> Enviroment surrounding firms ops is understood by all bsns members
>an appropriate culture is established within business
>the firms strategic plan and how the budget fits in with strategic plan is understood
> establish a culture of value adding - 22What is performance reporting?A performance report is where you compare actual results to budgeted/forecasted results in order to evaluate performance.
- 23What is top/bottom line optimisation? And what are porters three strategies?Top line refers to revenue while bottom line refers to expenses
1. focus
2. differentiation
3. cost leadership - 24How can info systems help increase profit?By increasing the flow of information within an organisation.
- 25What is the supply chain and what are the benefits of optimising it?Supply chain is the process involved in the production and distribution of a good.
Benefits include: streamlined production, reduce inventory > waste costs, improve customer feedback, improve reputation, replace buy-hold-sell with sell-source-ship. - 26What is supply chain management?the active mgmt of SC to reduce costs and maximise customer value. SCM integrates the logistics of suppliers, distributers and retailers.
- 27what are the two key flows SCM focus on?Physical flow-movement, transformation and storage of materials and goods.
Info flow- flow of info between various stakeholders in SC, how long term plans and day2day ops are coordinated - 28What are the aim of customer relationship management and its benefits?1.promote differentiation
2. maximise top line (revenue)
Benefits are streamlines sales process which keeps customer informed of delivery times, provide better after sale service and support, understand customers better so can market more effectivley. - 29What is RFMrecency ,frequency, monetary
- 30What are enteprise collaberation systems?An info system use to facilitate efficient resource sharing within an organisation.
examples include, email , social networks, workflow management systems and collaborative documents. - 31What is enterprise resource planning? And what are its 4 segments?Is the integrated management of core business processes. It integrates an organisations isolated info systems across one enterprise wide system.
Financial, operational and logistics, human resources, Sales and marketing. - 32What are the benefits of ERP?eliminates need for non-critical information source, Creates a way for user to see an overview of all operations allows orgs to be more adaptive and make decisions more efficiently. Makes bsns review their strategy and activities and can implement "best practise".
- 33What are drawbacks of erp ?Very costly to run, integration between systems is critical, now only relying on one system for all systems which is risky, correcting and realigning current systems is difficult.
- 34What is cloud computing?Is location independent computing that uses shared servers to provide resources, software and data to computers and other devices, uses a network of remote servers instead of an individual server or computer.
- 35What are different levels of privacy for cloud computing?Public cloud- available over internet to anyone
Community cloud- only available to community with common interest
Private cloud- resources are operated by a single entity for its own purposes - 36Benefits of cloud computingReduced infrastructure, resource elasticity ( scale storage, the network and processing requirements to organisations needs).
Reduced costs through econ of scale,
security. - 37Types of cloud computing-Software as a service: stand alone apps available from the cloud
- platform as a service : development and customisation of apps and platforms
-infrastructure as a service: hardware and operating resources available from cloud
- Network as a service: Network and other services as a whole - 38Drawbacks of cloud computing?reliability, trusted privacy, legal issues, accountability, contrast
- 39What is web 2.0It introduced the concept of user generated content to the internet with its purpose being to create a rich user experience and push relevant information to consumers, this in turn as led to social media platforms .
- 40How do business use social mediaFor marketing: engage with consumers and market research, build customer base and increase brand awareness, advertise and run promotions, gain valuable customer insights through data mining.
Customer relationship management: - 41What are some issues with social media?Privacy, permanence, copyright, quality, ethics and legal issues.
- 42What is difference between e-commerce and e-businessE commerce are commercial transactions conducted over the internet while e business is any transaction that happens via the internet.
- 43What are the types and mechanisms of e commercebsns to bsns, bsns to consumer, consumer to consumer, bsns to employee, employee to govt.
Mechanisms- catalogs, auctions, electronic store fronts. - 44What are the benefits and issues with e commerce?BENEFITS- Intl markets are more accessible, can lower costs, customers have wider range of choices and 24/7 availability. Issues: can take away from physical business, privacy, job losses, legal issues, taxing, copyright and fraud.
- 45What is HCI and why study it?Is the study of how people interact with computer. HCI improves interaction creating more usable and effective interfaces. It creates new opportunities for new apps of computer technology. Can examine sociocultural implications of use of computers by humans. It also can develop conceptual framworks
- 46What is a mixed reality?It is a hybrid reality- mix of real and virtual world, results in new environments and visualisations where both real and virtual objects exist and interact in real time.
- 47Three types of Augmented realities and what distinguishes them from each other?Spatial- display is detached from user
Video see through- real world is captured on video and digital information overlaid.
Optical see through- Combine digital imagery with real world, often in form of glasses. - 48What is business intelligence?The process of analysing data about a business operations, customers and competitors to help managers and other stakeholders make effective and efficient business decisions
- 49What can make decision making difficult?scarcity of information, excess information, constraints, groupthink, multiple and conflicting objectives, difficulty in seeing the big picture.
- 50What are the steps in the decision making process?Problem/opportunity->Intelligence (reporting comparisons)->Design->Choice: compare and select->implementation.
- 51What are the types of decisions?Structured- where everything you need to know is known
Unstructured- where nothing is known
Most decisions are between the two called semi structured
Recurring- more than once
non recurring- one off - 52How can ICT help decision making?By the collection and analysis of data
- 53What is a data warehouse and a data mart?Data warehouse- Works to integrate all historical sources and hold info about multiple areas of an organisation.
Data mart- is considered a subset of data warehouse, holds data for only one part of an organisation - 54OLTP vs OLAPOLTP- records large number of individual transactions, detailed fine grained info, data continuously updated.
OLAP- Low number transactions, results constructed from summary of coarse grained info. data updated frequently but continuously. - 55OLAP vs Data miningOLAP- used to analyse existing data to answer questions already existing
DM- analysing existing data to uncover trends and patterns that were not previously known. - 56What is Big Data?Refers to large data sets that are so voluminous that traditional data mining are unable to process the data. Can be used for insights into people, things, relationships and plans which can lead to more effective decision making for businesses.
- 57Challenges with Big Data?How to store it, sort it, capture it, transfer it, what is relevant and what software is capable of analysing the masses of data.
- 58What are 4 big V's of big dataVolume, velocity, variety veracity
- 59What is Data science and the process of it?The study of big data and aims to interpret large amounts of unstructured data and provide meaningful information for decision making.
Process: Import data->Tidy/clean data .
->transform/model to establish relationships-> communicate info. - 60Timeline of AIFirst in 1950 focused on logic, reasoning and problem solving, then in 1970's include knowledge, then perceptions and actions in 1980's.
- 61Core focuses of AI today?Machine learning- Science of getting computers to act without being explicitly programmed, learning unsupervised.
Deep learning- subset of ML aims to stimulate aspects of a human brain, each level of processing uses previous layers output as input. - 62example of AI's capabilities Today?Planning and logistics, product recommendation, Facial recognition, speech recognition, trading translating.
- 63What are some example of things that AI will be able to do in future?Self driving cars, personal digital assistance, recall time audio translation, human level general intelligence.
- 64AI limitationsCant understand Humans and relate to them, physical sensing and locomotion and limitations to creativity.
- 65Real life concerns of AIAutonomous weapons, unemployed caused by AI, Algorithmic bias: behave in ways that reflect the values of the people who gathered or selected the data
Ethics: regulation and governing of these machines and who will be responsible for their actions. - 66What are ethics?Morale principles that govern a persons behaviour, they are not the law
- 67How can information be misused?For illegal means, without consent, unintended information usage.
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- Business/Economics Karteikarten am 115 info systems, erstellt von toby riley am 01/06/2018.
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