Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
84 Cards in this Set
- Front
- Back
|
Transactional Information
|
Encompasses all of the information contained within a single business process or unit of work, and its primary purpose is to support the performing of daily operational tasks
|
|
|
Analytical Information
|
Encompasses all organizational information, and its primary purpose is to support the performing of managerial tasks
|
|
|
What are some examples of Transactional Information?
|
- Airline Ticket
- Sales Receipt - Packing Slip |
|
|
What are some examples of Analytical Information?
|
- Product statistics
- Sales projections - Future Growth - Trends |
|
|
Information Timeliness
|
An aspect of information that depends on the situation
|
|
|
Real-time Information
|
Immediate, up-to-date information
|
|
|
Real-time System
|
Provides real-time information in response to requests
|
|
|
Information Quality
|
Business decisions are only as good as the quality of the information used to make the decisions. You never want to find yourself using bad technology to help you made a bad decision faster
|
|
|
What are characteristics of high-quality information?
|
- Accurate
- Complete - Consistent - Unique - Timely |
|
|
Database
|
Maintains information about various types of objects (inventory), events (transactions), People (employees), and places (warehouses)
|
|
|
Database Management Systems (DBMS)
|
Allows users to create, read, update, and delete data in a relational database
|
|
|
Data Element
|
The smallest or basic unit of information
|
|
|
Data Model
|
Logical data structure that detail the relationships among data elements using graphics or pictures
|
|
|
Metadata
|
Provides details about data
|
|
|
Data Dictionary
|
Compiles all of the metadata about the data elements in the data model
|
|
|
Entity
|
A person, place, thing, transaction, or event about which information is stored. Example: The rows in a table
|
|
|
Attribute (field, column)
|
The data elements associated with an entity. Example: the columns in each table contain attributes
|
|
|
Record
|
A collection of related data elements
|
|
|
Primary Key
|
A field (or group of fields) the uniquely identifies a given entity in a table
|
|
|
Foreign Key
|
A primary key of one table that appears as an attribute in another table and acts to provide a logical relationship among the two tables
|
|
|
What are the advantages of using a relational database for business?
|
- Increased Flexibility
- Increased Scalability & Performance - Reduced Information Redundancy - Increased Information Integrity - Increased Information Security |
|
|
Physical View
|
Deals with the physical storage of information on a storage device
|
|
|
Logical View
|
Focuses on how individual user logically access information to meet their own particular business needs
|
|
|
Information Redundancy
|
The duplication of data or storing the same information in multiple places
|
|
|
Data-driven Websites
|
An interactive website kept constantly updated and relevant to the needs of its customers using a database
|
|
|
What are some examples items that would need a data-driven website?
|
- Content creator
- Content editor - Static information - Dynamic information - Dynamic catalog |
|
|
What are the advantages of data-driven websites?
|
- Easy to manage content
- Easy to store large amounts of data - Easy to eliminate human error |
|
|
Integration
|
Allows separate systems to communicate directly with each other
|
|
|
Forward Integration
|
Takes information entered into a given system and sends it automatically to all downstream systems and processes. From Sales to Billing.
|
|
|
Backward Integration
|
Takes information entered into a given system and sends it automatically to all upstream systems and processes. From Billing to Sales.
|
|
|
Data Warehouse
|
A logical collection of information – gathered from many different operation databases – that supports business analysis activities and decision-making tasks
|
|
|
What is the primary purpose of a data warehouse?
|
To aggregate information throughout an organization into a single repository for decision-making purposes
|
|
|
Extraction, transformation, and loading (ETL)
|
A process that extracts information from internal and external databases, transforms the information using a common set of enterprise definitions, and loads the information into a data warehouse
|
|
|
Data mining
|
The process of analyzing data to extract information not offered by the raw data alone
|
|
|
Data-mining tools
|
Uses a variety of techniques to find patterns and relationships in large volumes of information and infers rules that predict future behavior and guide decision making
|
|
|
Information cleansing or scrubbing
|
A process that weeds out and fixes or discards inconsistent, incorrect, or incomplete information
|
|
|
What are some of the items that information cleansing activities would remove?
|
- Missing Records or Attributes
- Redundant Records - Missing Keys or Other Required Data - Erroneous Relationships or References - Inaccurate Data |
|
|
The six-step decision-making process
|
- Problem identification
- Data collection - Solution generation - Solution test - Solution selection - Solution implementation |
|
|
Operation Decision Making
|
Employees develop, control, and maintain core business activities required to run the day-to-day operations
|
|
|
Structured Decisions
|
Situations where established processes offer potential solutions
|
|
|
Managerial Decision Making
|
Employees evaluate company operations to identify, adapt to, and leverage change
|
|
|
Semi-structured Decisions
|
Occur in situations in which a few established processes help to evaluate potential solutions, but not enough to lead to a definite recommended decision
|
|
|
Strategic Decision Making
|
Managers develop overall strategies, goals, and objectives
|
|
|
Model
|
A simplified representation or abstraction of reality
|
|
|
What type of decisions do “Operations” make?
|
Structured
|
|
|
What type of decisions do “Managerial” make?
|
Semi-structured
|
|
|
What type of decisions do “Strategic” make?
|
Unstructured
|
|
|
The four quantitative models used by DSSs
|
- What if analysis
- Sensitivity analysis - Goal-seeking analysis - Optimization analysis |
|
|
Executive Information System (EIS)
|
A specialized DSS that supports senior level executives within the organization
|
|
|
What does an Executive Information System (EIS) focus on?
|
- Granularity
- Visualization - Digital Dashboard |
|
|
What is the interaction between a TPS and EIS?
|
Transactional Processing Systems data as well as External Sources of Information are given to Executive Information Systems which generate executive reports
|
|
|
What capabilities do most EISs offer?
|
- Consolidation
- Drill-down - Slice-and-dice |
|
|
Factors Driving SCM
|
- Visibility
- Consumer Behavior - Competition - Speed |
|
|
Bullwhip Effect
|
Occurs when distorted product demand information passes from one entity to the next throughout the supply chain
|
|
|
What are the three factors fostering speed?
|
- Pleasing customers
- Information in order to reduce inventory and HR requirements to a competitive level - Information flow are essential to strategic planning for and deployment of resources |
|
|
CRM enables an organization to…
|
- Provide better customer service
- Make call centers more efficient - Cross sell products more effectively - Help sales staff close deals faster - Simplify marketing and sales processes - Discover new customers - Increase customer revenues |
|
|
Operational CRM
|
Supports traditional transactional processing for day-to-day front-office operations or systems that deal directly with the customers
|
|
|
Analytical CRM
|
Supports back-office operations and strategic analysis and includes all systems that do not deal directly with the customers
|
|
|
CRM current trends include…
|
- Supplier Relationship Management (SRM)
- Partner Relationship Management (PRM) - Employee Relationship Management (ERM) |
|
|
Supplier relationship management (SRM)
|
Focuses on keeping suppliers satisfied by evaluating and categorizing suppliers for different projects, which optimizes supplier selection
|
|
|
Partner relationship management (PRM)
|
Focuses on keeping vendors satisfied by managing alliance partner and reseller relationship that provide customers with the optimal sales channel
|
|
|
Employee relationship management (ERM)
|
Provides employees with a subset of CRM applications available through a web browser
|
|
|
CRM future trends include…
|
- CRM applications will change from employee-only tools to tools used by suppliers, partners, and even customers
- CRM will continue to be a major strategic focus for companies - CRM applications will continue to adapt wireless capabilities supporting mobile sales and mobile customers - CRM suites will incorporate PRM and SRM modules |
|
|
Core ERP Component
|
Traditional components included in most ERP systems and they primarily focus on internal operations
|
|
|
Extended ERP component
|
Extra components that meet the organizational needs not covered by the core components and primarily focus on external operations
|
|
|
Three most common core ERP components
|
1. Accounting and finance
2. Production and materials management 3. Human resource |
|
|
Accounting and finance component
|
Manages accounting data and financial processes within the enterprise with functions such as general ledger, accounts payable, accounts receivable, budgeting, and asset management
|
|
|
Production and materials management component
|
Handles the various aspects of production planning and execution such as demand forecasting, production scheduling, job cost accounting, and quality control
|
|
|
Human resource component
|
Tracks employee information including payroll, benefits, compensation, performance assessment, and assumes compliance with the legal requirements of multiple jurisdictions and tax authorities
|
|
|
Extended ERP components include…
|
- Business intelligence
- Customer relationship management - Supply chain management - Ebusiness |
|
|
Elogistics
|
Manages the transportation and storage of goods
|
|
|
Eprocurement
|
The business-to-business (B2B) purchase and sale of supplies and services over the Internet
|
|
|
What is at the heart of all ERP systems?
|
A database
|
|
|
Who are the primary users of a CRM?
|
- Sales
- Marketing - Customer Service |
|
|
Who are the primary users of a SCM?
|
- Customers
- Resellers - Partners - Suppliers - Distributors |
|
|
Who are the primary users of a ERP?
|
- Accounting
- Finance - Logistics - Production |
|
|
What are the core ERP components?
|
- Accounting and finance
- Production and materials management - Human Resource |
|
|
What are the extended ERP components?
|
- Business Intelligence
- Customer relationship management - Supply chain management - E-business |
|
|
What are the information types?
|
- Transactional Information
- Analytical Information |
|
|
When does information cleansing occur?
|
During the ETL process and once it is in the data warehouse
|
|
|
What are the primary problems most organizations face today concerning information?
|
- Businesses face a data explosion with digital images, email in-boxes, and broadband connections
- The amount of data generated is doubling every year - Some believe it will soon double monthly |
|
|
What is the cost of accurate and complete data?
|
Very high
|
|
|
Unstructured Decisions
|
Occurs in situations in which no procedures or rules exist to guide decision makers toward the correct choice
|
|
|
What are some integration tools?
|
- Middleware - Enterprise application integration (EAI) middleware
|
