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97 Cards in this Set
- Front
- Back
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Rational Decision Making Model
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Intelligence Phase
Design Phase Choice Phase |
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Intelligence Phase
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Identify Alternatives, Collect Info
(Organizational Objectives, Data Collection) |
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Design Phase
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Formulate a model to calculate the consequences of each alternative
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Choice Phase
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Comparing all consequences, Select the best
alternative |
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Decision Support Systems
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combine models and data in an attempt to solve semistructured and some unstructured
problems with extensive user involvement |
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Structured Decisions
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routine and repetitive problems for which
standard solutions exist |
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Semistructured Decisions
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only some phases of the decision process is structured
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Unstructured Decisions
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complex problems for which there are no cut and dried solutions (require human judgement)
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Decisions Support Systems Focus
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collection and analysis of core transaction/business process data
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Decision Support Systems Sources
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- Key transaction systems
- external data sources purchased for the purposes of comparison and analysis. |
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Decision Support Systems Artifacts
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- data elements and metadata
- queries, metrics, and standards - reports and digital dashboard |
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Problems solved by Decision Support Systems
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Yield (revenue) management
- Maximize revenue, airline trips, lodging Financial Services (credit history) -Loan amounts ad interest rates |
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Types of DSS analysis
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- What If Analysis
- Goal Seeking Analysis - Sensitivity Analysis |
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What- If Analysis
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attempts to predict the impact of a change in
input on output |
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Goal-Seeking Analysis
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attempts to find the value of inputs necessary to achieve a desired level of output
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Sensitivity Analysis
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identify the sensitivity of a decision-making
model to change |
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Bounded Rationality
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- We don't collect of have ALL info regarding
alternatives - We don't know or identify ALL the consequences of the alternatives - We don't have energy to calculate every single decision |
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I-knew-it-all-along-effect
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- the tendency to view what has already happened as relatively inevitable and obvious
- retrospective knowledge of the outcome influences one's judgement |
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Types of Knowledge
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- Descriptive (What / Context)
- Procedural (How / Methods) - Reasoning (Why / Justification) |
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Explicit Knowledge
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"Leaky Knowledge"
Objective, rational, and technical, such as policies and procedures ex. The instructions of how to use Weka |
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Tacit Knowledge
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"Sticky Knowledge"
Subjective, Cognitive, and Experiential ex. how to find out and solve problems when your laptop became extremely slow |
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Socialization
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A football coach coaching his/her team (tacit/tacit) |
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Examples of Knowledge Conversion
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Socialization
Externalization Internalization Combination |
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Externalization
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Create standard procedures for restaurant franchises. (tacit/explicit) |
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Internalization
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Learning by following tutorials (explicit/tacit) |
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Combination
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Combine the map and address information
(explicit/explicit) |
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Learning Management Systems
(LMS) |
Provide tools for management,delivery, tracking, and assessment of various types of employee learning and training.
ex. E-Learning websites |
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Collaboration Tools
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Web 2.0 - Blogs, Wikis, Social Networks
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Outsourcing
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Purchase of a good or service that was previously provided internally
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Drivers of Outsourcing
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Cost Reduction (savings from economies of scale)
Help a company transition to new technologies' Management can focus more on core activites |
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Outsourcing Challenges
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Control is surrendered over critical aspects of the enterprise
Company gives up any real potential to develop their info technologies for competitive advantage Savings may never be realized |
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Offshoring
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When the MIS organization builds its own data center in a distant land
(reduced labor costs) |
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Offshoring Challenges
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Other costs may increase
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Captive Center
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An overseas subsidiary that is set up to serve the parent company
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Hybrid Captive
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performs core business processes for parent company but outsources noncore work to offshore providded
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Shared Captive
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performs work for both parent company and
external customers |
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Local-area Network
(LAN) |
A LAN is designed to connect personal computers and other digital devices within a half mile
radius. |
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Hub
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broadcasting a message to all computers in a LAN
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Switch
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sent the message to the designated computer
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Wide Area Network (WAN)
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Networks that link different sites together
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Public Switched Data Networks
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Subscribers share the cost and only need a single line for each site
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Routers
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Devices that connect networks
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Internet Protocol address
(IP Address) |
Each computer or host has an IP address
-192.168.13 Network part. Subnet Part. Host Part |
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Dynamic Host Configuration Protocol
(DHCP) |
When a client PC wishes to use the internet, it first contacts a DHCP server for an IP address
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Domain Names
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many server hosts have easier to remember host names, such as amazon.com
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Domain Name System (DNS)
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like a telephone directory for the Internet
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Virtual Private Network
(VPN) |
Use passwords and encryption for security across The Internet
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Hypertext Makeup Language
(HTML) |
rules about how to display information on a web page
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Intranet
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MyNeu
Blackboard |
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Extranet
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Allowing customers from the outside to look at your company
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E-Commerce
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The process of buying, selling, transferring, or exchanging products, services, or info via computer networks, including the internet.
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Types of E-Commerce
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Business-to-consumer (B to C)
ex. consumer to amazon Business-to-Business (B to B) ex. amazon to publisher Consumer-to-Consumer (C to C) ebay ex. ebay |
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Disintermediation
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Dell Computers
Motivation: Seeking the lowest cost Efficient use of resources |
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Reintermediation
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Example: Expedia or Orbitz
Motivation: High cost of shipping many small orders. Massive customer service issues. Wrath of disinter mediated retailers and supply channel partners. |
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Components of Expert Systems
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Knowledge Base
Inference Engine INFO Expert System Client |
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Expert System Suitable Problems
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Work only for problems and decision that can be articulated and specified
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Data Mining
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is the process by which humans and machines generate knowledge from data
data warehouse -> data mining -> knowledge |
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Classification Analysis
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A process to assign an instance to a pre-defined class value according to its attributes by
computer programs |
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Types of attributes
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Numeric (age)
Nominal (gender) Class (level of loyalty) |
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Two Types of Data Mining Tasks
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Prediction Methods
- use some variable stop predict unknown or future values of other variables Description Methods - find human-interpretable patterns that describe data |
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Upstream
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where sourcing from external suppliers occurs
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Internal
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where packaging, assembly, or manufacturing takes place
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Downstream
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where distribution takes place, frequently by external distributors
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Push Model
(make-to-stock) |
- Forecast
- Decide the quantity to make - Push those products to consumers with advertisement and sales |
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Pull model
(make-to-order) |
-Customer put an order
-Order parts from suppliers -Product products |
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Bullwhip Effect
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erratic shifts in orders up and down the supply chain
causes: - batch purchasing -shortage gaming -forecasting |
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Supply Chain Management
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plan, organize, and optimize the various activities performed along the supply chain
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Vertical Integration
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Remove the bargaining power of suppliers
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Vendor Managed Inventory
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Suppliers have to carry inventory for you
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Electronic Data Interchange
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about data sharing : keep party informed
collaborative forecasting replenishment |
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Structured problems
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can be reached through a single set of steps by using an algorithm
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Unstructured Problems
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when algorithm doesn't exist, options are very complex
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Three Levels of Processing
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Transaction Processing
Management and Control Innovation, Planning, and Learning |
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Transaction Processing
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data entered, stored, and retrieved
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Management and Control
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produces info about actual results compared to expectations
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Innovation, Planning and Learning
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try again to keep learning more
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Cost Leadership
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Aimed to be the lowest-cost producer
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Differentiation
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Allow the product or service to appear unique
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Cost Focus
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Aimed to be the lowest cost producer to the targeted customers
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Differentiation Focus
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allow the product or service to appear unique to the targeted customers
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Bargaining Power of Buyers
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the ability of buyers to use their market power to decrease a firm's competitive position
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Bargaining Power of Suppliers
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the ability that suppliers of the inputs of a product or service to lower a firms competitive
position |
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Two Layers of Database Design
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Conceptual database design
Logical Database Design |
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Conceptual Database Design
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- Concise description of the data requirements of the users
- Include detailed descriptions of data types, relationships, and constraints |
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Logical Database Design
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- Actual implementation of the database, using a commercial database management system (DBMS)
- Transform the conceptual schema from the high-level data model into the implementation model |
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Structured English Query Language
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SQL
Language used in most database management systems |
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Metadata
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- defines each and every database data element and ensures that data elements integrity
- metadata is essential for the quality and integrity of a database. |
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Cardinality
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defines a relationship between two entity classes in terms of how many instances of X are allowed for each instance of Y
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Information Silos
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Data Redundancy
Data inconsistency Difficult to integrate data for advanced data analysis |
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Data Warehouses
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Integrate data from multiple sources to create a central repository of data
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Online Analytical Process
OLAP |
Business intelligence tools
Very complex statistical and mathematical analysis using many variables (Attributes) |
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Customer Relationship
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create and manage additional touch points
internal operations -- customer touch-points |
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Operational CRM
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Support front office business processes, including sales, marketing, and service
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Analytical CRM
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marketing research
use advanced data analytical techniques and statistical models to predict sales volumes of different products |
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Enterprise Resource Planning Systems
(ERP) |
Integrate the planning, management, and use of all an organizations resources
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Benefits of ERP
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Connection
Integration Collaboration |
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END
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