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Sources of competitive advantage
a. New products, services, and business models
b. Charging less for superior items
c. Responding to customer in real time
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Information system
manage information to support decision making and control in an organization
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Culture
assumptions, values, and ways of doing things
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4 step model of business problem solving:
first
identifying the problem
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4 step model of business problem solving;
final
implementing
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branding products
a function of marketing
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decision-support system
systems designed to help with unstructured decision making
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Executive support systems
(ESS)-designed to support senior mngs (for executives) {long range planning}
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Enterprise system
collects data from business processes and stores that data in a single repository for retrieval.
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Supply-chain management
help suppliers, purchasing firms, distributors, and logistics share info about orders, production, inventory, and delivery
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Four strategies to deal with a competitive marketplace
- a. Strengthen customer and supplier intimacy
- b. Focus on the market niche
- c. Product differentiation
- d. Low cost leadership
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Market niche strategy
appeals to one specific type of customer in a mk-mk focus
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Mass customization
ability to offer individually tailored products or services using the same production recourses’ as mass production
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value chain model
highlights specific activities in the b2n2 where competitive stat can be applied
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benchmarking
setting standards then measuring performance against standards
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Value chain linked to
value chain of suppliers, distributers, and customers
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system software
manages the resources of computer
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co-location
you own your own server, but you put it somewhere else {store data in 2 diff places often off-site}
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distributed processing
use of multiple computers linked by a communications network for processing
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autonomic computing
systems that can configure, optimize and heal themselves
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client
the computer thats the users point of interest {PC capable of recieving a service provided by another program}
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mashup
combo of combining two services for one thing ex: retail site+online maps
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total cost of ownership model
direct and indirect cost that determine the actual costs of specific technology implemtations
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first step in managing data
identify the data you need to run the business
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Relational DBMS
logical DM model that treats data as if they were stored in 2D tables
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entity-relationship diagram
schematic of the entire database that describes the relationships
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data scrubbing
detecting and correcting data in a database file
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MAN
metropolitan area network-wifi that covers the whole city
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controls
all methods, policies, that keep the company safe
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trojan horse
a software program that appears to be benign but then does something other than expected; a way for a virus to enter
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spoofing
redirecting a link from the intended URL {making a website hijack a URL}
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evil twins
bogus wifi networks that look legitimate
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ERP systems
suite of integrated software models that lets data be used by different groups
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cost of overstocking warehouses
increases inventory costs
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supply chain
network of org and processes for procuring raw mat {people, systems, bznz involved in moving a product}
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upstream portion of supply chain
suppliers, suppliers’ suppliers, and processes for managing that direction-anything that gives things to your company
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Downstream portion of supply chain
distributing and delivering products to the final customers-going out
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safety stock
allows firm to deal with uncertainties in the supply chain
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demand planning
determines how much product you need to satisfy demands
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search costs
the effort required to find suitable products
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dynamic pricing
varying a products price according to the supply situation of the seller {bearing a products price according to supply sit of seller}
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Wisdom of crowds
large numbers of people can make better decisions about a wide range of topics than a single person or a small group
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structured decisions
repetitive and routine, a definite procedure for handling them
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unstructured decisions
the decision maker must provice judgment evaluation, and insight to solve the problem
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coherence
decisions should reflect a rational process
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due process
decision is a result of a known process and can be appealed to a higher authority {result of a known process w/ appeal to a higher power}
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optimization models
used to determine the right mix of products to maximize profit
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sensitivity analysis
ask what if questions repeatedly to determine the impact on outcome of changes in one or more factors
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neural networks
used for solving complex, poorly understood problems for which large amounts of data have been collected {systems that are built like brain, learns about decisions}
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unit testing
detailed testing of individual computer programs
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system testing
tests that performance of the information system as a whole
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acceptance testing
provides the final certification that the system is ready to be used in production setting
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maintenance
changes in hardware, software, documentation, or procedures to a production system to correct errors, meet new requirements, or improve processing efficiency
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data flow diagram
offers a logical graphic model of information flow, partitioning a system into models that show manageable levels of detail {diagram that shows how data flows through PCs
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return on invested capital
worth of systems from a financial prospective
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portfolio analysis
help you evaluate alternitive systems, inventories all them for a firm {risk/benefit analysis of what a company should implement}
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output
place where info leaves sytem to the end user
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knowledge workers
people with specific info/ knowledge on a subject
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CIO
chief info officer-inchange of privacy of data at a firm
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transparent marketplace
info readily avail to public
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sensor
measures environment around it and converts it to a digital form
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primary key
unique identifier key in a DB
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data warehouse
large scale centralized system related to ERP
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data mining
provides insgihts into corporate data unattainable by OLAP for hidden patterns
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LAN
local area network-usually between buildings
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peer-to-peer network
treats all processors equally over a network
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wide area network
ex: internet entire globe area
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bandwidth
range of frequencies used to xmit signal
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TCP/IP
transfer connect protocal-connects and transmits data over net
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VPN
tunnel within a network that allows a secure connection to your data
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worm
independent program that copies itself from 1 PC to another
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Spyware
gathers info on users PW, use, and info
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DDoS
packet injection of many computers to overload a network
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marketplace
a marketplace removed from temporal boundaries
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price discrimination
charge different prices for different customers
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intelligent agents
autonomous programs acting on their environment
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