MIS 180 Chapter Notes - Chapter 1: Behavioral Analytics, Supply Chain, Chief Security Officer
31 May 2018
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Textbook Notes
Chapter 1
Management Information Systems: Business Driven MIS
1.1 Competing in the Information Age
Introduction
Fact - confirmation or validation of an event or object
Information age - when infinite quantities of facts are widely available to anyone who can use a computer
Internet of things (IoT) - a world where interconnected Internet-Enabled devices or 'things' have the ability to
collect and share data without humans intervention
Machine-to-macine (M2M) - devices that connect directly to other devices
Data
Data - raw facts that describe the characteristics of an event or object
Raw building block that has not been shaped, process, or analyzed and frequently
appears disorganized and unfriendly
Structured data - defined length, type, and format and includes numbers, dates, or strings
Machine-generated data - created by a machine without human intervention
Human-generated data - humans, in interaction with computers, generate
Unstructured data - not defined and does not follow a specified format and is typically free-form text
Accounts for about 80% of the data that surrounds us
Big data - collection of large, complex data sets, including structured and unstructured data, which cannot be
analyzed using traditional database methods and tools
Snapshot - view of data at a particular moment in time
Information
Information - data converted into a meaningful and useful context
Gives meaning and context to analyzed data making it insightful for humans providing context and
structure that is extremely valuable when making informed business decisions
Report - document containing data organized in a table, matrix, or graphical format allowing users to easily
comprehend and understand information
Static report - created once based on data that does not change
Dynamic report - changes automatically during creation
Variable - data characteristic that stands for a value that changes or varies over time
Changing variables allows managers to create hypothetical scenarios to study future possibilities
Business Intelligence
Businesses intelligence (BI) - information collected from multiple sources such as suppliers, customers,
competitors, partners, and industries that analyzes patterns, trends, and relationships for strategic decision
making
Manipulates multiple variables, and incorporates all types of internal and external variables to anticipate
business performance
Analytics - science of fact-based decision making
Predictive analytics - extracts information from data and uses it to predict future trends and identify
behavioral patterns
Can be used to define the future of the business, analyzing markets, industries, and economies
to determine the strategic direction the company must follow to remain profitable
Behavioral analytics - uses data about people's behaviors to understand intent and predict future actions
Knowledge
Knowledge - includes the skills, experience, and expertise, coupled with information and intelligence, that
creates a person's intellectual resources
Knowledge workers - individuals valued for their ability to interpret and analyze information
1.2 The Challenge: Departmental Companies
Departments
Accounting - records, measures, and reports monetary transactions
Finance - deals with strategic financial issues including money, banking credit, investments, and assets
Human Resources - maintains policies, plans, and procedures for the effective management of employees
Marketing - supports sales by planning, pricing, and promoting goods or services
Operations management - manages the process of converting or transforming or resources into goods or services
Sales - performs the function of selling goods or services
All departments must work together as a single unit sharing common information and not operate independently
1.3 Systems Thinking and Management Information Systems
Companies
Successful companies operate cross-functionally, integrating the operations of all departments
System - collection of parts the link to achieve a common purpose
Are the primary enabler of cross-functional operations
Goods - material items or products that customers will buy to satisfy a want or need
Services - tasks performed by people that customers will buy to satisfy a want or need
Production - process where a business takes raw materials and processes them or converts them into a finished
product for its good or services
Productivity - rate at which goods and services are produced based upon total output given total inputs
Systems Thinking
Systems thinking - way of monitoring the entire system by viewing multiple inputs being processed or
transformed to produce outputs while continuously gathering feedback on each part
Document Summary
Fact - confirmation or validation of an event or object. Information age - when infinite quantities of facts are widely available to anyone who can use a computer. Internet of things (iot) - a world where interconnected internet-enabled devices or "things" have the ability to collect and share data without humans intervention. Machine-to-macine (m2m) - devices that connect directly to other devices. Data - raw facts that describe the characteristics of an event or object. Raw building block that has not been shaped, process, or analyzed and frequently appears disorganized and unfriendly. Structured data - defined length, type, and format and includes numbers, dates, or strings. Machine-generated data - created by a machine without human intervention. Human-generated data - humans, in interaction with computers, generate. Unstructured data - not defined and does not follow a specified format and is typically free-form text. Accounts for about 80% of the data that surrounds us.
