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Level 36

Information Systems in Business


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Information Technology (IT)
A field concerned with the use of technology in managing and processing information
Management Information Systems (MIS)
1970: focus on the use of computer-based IS in business firms and government agencies
IT
Information Technology
IS
information system
MIS
Management Information Systems
data
Business __________ theft involves stealing proprietary business INFORMATION such as research for a new drug or a list of customers that competitors are eager to acquire.
Information
Data converted into a meaningful and useful context
Business intelligence
__________ is created when data is processed to identify patterns, relationships, trends and predictions that are made available to those who need it.
CEO
Chief Executive Officer
CFO
Chief Financial Officer
COO
Chief Operations Officer
CIO
Chief Information Officer- 1. Overseeing all uses of information technology 2. Ensuring the strategic alignment of IT with business goals and objectives
CTO
Chief Technology Officer- Responsible for ensuring the throughput, speed, accuracy, availability, and reliability of an organizations information technology. Ensuring the efficiency of IT systems throughout the organization.
CSO
Chief Security Officer- Responsible for ensuring the security of IT systems and developing strategies and IT safeguards against attacks from hackers and viruses.
CPO
Chief Privacy officer- Responsible for ensuring the ethical and legal use of information within an organization. Usually lawyers by training, so can understand the legal issues.
CKO
Chief Knowledge Officer- responsible for collecting, maintaining, and distributing the organization's knowledge.
Communication problems
Business personnel and IT people have a hard time communicating (different languages)
Key Performance Indicators (KPIs)
Are the measures that are tied to business drivers. Metrics are the detailed measures that feed those KPIs.
Efficiency IT Metrics
Measure the performance of the IT system itself such as throughput, speed, and availability.
Effectiveness IT Metrics
Measure the impact IT has on business processes and activities including customer satisfaction, conversion rates, and sell-through increases.
Benchmarks
Baseline values the system seeks to attain
Benchmarking
A process of continuously measuring system results, comparing those results to optimal system performance and identifying steps and procedures to improve system performance.
Competitive Advantage
A point of difference or superiority held over one's competitors
First-mover advantage
Occurs when an organization can significantly impact its market share by being first to market with a competitive advantage.
Environmental scanning
entails all information gathering designed to detect changes in the external operating environment of the firm
Supply Chain
Consists of all parties involved, directly, or indirectly, in the procurement of a product or raw material
Business-to-business (B2B) marketplace
An internet based service that brings together many buyers and seller.
Private Exchange
In B2B marketplace, when a single buyer posts its needs and then opens the bidding to any supplier who would care to bid
Reverse auction
An auction format in which increasingly lower bids are solicited from organizations willing to supply the desired product or service at an increasingly lower price
business process
A __________ is a network of activities, repositories, roles, resources, and data flows that interact to accomplish a business function.
Value Chain
A sequence of activities through which the organization's inputs are transformed into more valuable outputs