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Data warehouse – what is it -
a logical collection of information – gathered from many different operational databases – that supports business analysis activities and decision-making tasksThe primary purpose of a data warehouse is to aggregate information throughout an organization into a single repository for decision-making purposes
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ETL Extraction, transformation, and loading-
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.
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Multidimensional Analysis and Data Mining-
the process of analyzing data to extract information not offered by the raw data alone.
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Information Cleansing-
process that weeds out and fixes or discards inconsistent, incorrect, or incomplete information
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Business Intelligence-
information that people use to support their decision-making efforts.
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Decision Making-
Analyze, decide quickly, make decisions, protect corporate asset.
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Model-
a simplified representation or abstraction of reality
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Transaction processing system (TPS) -
the basic business system that serves the operational level (analysts) in an organization. DSS (Decision Support System)
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Executive information system (EIS)
a specialized DSS that supports senior level executives within the organization
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Online analytical processing (OLAP) –
the manipulation of information to create business intelligence in support of strategic decision making.
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Online transaction processing (OLTP) –
the capturing of transaction and event information using technology to (1) process the information according to defined business rules, (2) store the information, (3) update existing information to reflect the new information
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AI (Artificial Intelligence) – what is it-
the ability to build a system that can mimic human intelligence
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Four Categories of AI systems – know what each can be defined as
1. Expert System 2. Neural Network 3. Genetic Algorithm 4. Intelligent Agent
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SCM – what is it -
mgmt of info flows b/w and among stages in a supply chain to maximize total supply chain efficiency
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Components in Supply chain -
- Flow of materials from suppliers and their “upstream” suppliers at all levels.
- Transformation of materials into semifinished and finished products through the organization’s own production process
- Distribution of products to customers and their “downstream” customers at all levels
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Factors driving SCM-
1. Visibility 2. Consumer Behavior 3. Competition 4. Speed
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Role of IT in SCM-
IT strategy that provides clear visibility in the chain
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CRM – what is it; how does it help an organization-
- 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 customersIncrease customer revenues
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RFM (Recency, Fequency and monetary Value) -
- An organization can find its most valuable customers by using a formula that industry insiders call RFM:
- How recently a customer purchased items (recency)
- How frequently a customer purchases items (frequency)
- How much a customer spends on each purchase (monetary value)
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The Evolution of CRM-
Reporting--> analyzing --> Predicting (time & Value)
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Operational CRM –
supports traditional transactional processing for day-to-day front-office operations or systems that deal directly with the customers
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Analytical CRM –
supports back-office operations and strategic analysis and includes all systems that do not deal directly with the customers
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ERP – what is it-
At the heart of all ERP systems is a database, when a user enters or updates information in one module, it is immediately and automatically updated throughout the entire system
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Integrating SCM, CRM, ERP-
SCM, CRM, and ERP are the backbone of e-business
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Integration Tools-
Integration allows the unlocking of information to make it available to any user, anywhere, anytime
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Explosive growth of ERP-
ERP is a logical solution to the mess of incompatible applications that had sprung up in most businesses
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