Term
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Definition
| A simplified representation or abstraction of reality. Models can be used to calculate risks, understand uncertainty, change variables, and manipulate time |
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Term
| Transactional information definition and types |
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Definition
Encompasses all of the information contained within a single business process or unit of work, and its primary purpose is to support the performing of daily operational tasks
- Purchasing stocks
- Making airline reservations
- Withdrawing cash from an ATM |
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Term
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Definition
Encompasses all organizational information, and its primary purpose is to support the performing of managerial analysis tasks
- Transactional information
- Other info such as market and industry information |
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Term
| Online Transaction Processing |
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Definition
| The capturing of transaction and event information using technology to (1) process the information according to defined business rules, (2) store the information, and (3) update existing information to reflect the new information |
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Term
| Transaction Processing System |
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Definition
| The basic business system that serves the operational level (analysts) in an organization |
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Term
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Definition
| • The most common TPS is an operational accounting system such as a payroll system or an order-entry system |
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Term
| Online Analytical Processing |
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Definition
| The manipulation of information to create business intelligence in support of strategic decision making |
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Term
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Definition
| A broad, general term describing information that people use to support their decision-making efforts |
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Term
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Definition
| Models information to support managers and business professionals during the decision-making process |
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Term
| 3 Qualitative models used by DSS |
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Definition
1. Sensitivity Analysis
2. What-If Analysis
3. Goal-Seeking Analysis |
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Term
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Definition
| The study of the impact that changes in one (or more) parts of the model have on other parts of the model. Users change the value of one variable repeatedly and observe the resulting changes in other variables. |
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Term
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Definition
| Checks the impact of a change in an assumption on the proposed solution. Users repeat this analysis until they understand all the effects of various solutions. |
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Term
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Definition
| Finds the inputs necessary to achieve a goal such as a desired level of output. Instead of how observing changes in a variable affect other variables as in what-if analysis, goal seeking analysts sets a target value (a goal) for a variable and then repeatedly changes other variables until the target is reached. |
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Term
| Executive Information System |
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Definition
| A specialized DSS that supports senior-level executives within the organization. An EIS differs from a DSS because it typically contains data from an external sources as well as data from internal sources. |
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Term
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Definition
| Involves the aggregation of information and features simple roll-ups to complex groupings of interrelated information |
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Term
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Definition
| Enables users to view detail, and details, of details, of information. |
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Term
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Definition
| The ability to look at information from different perspectives. One slice of information could display all product sales during a given promotion. |
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Term
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Definition
| Integrate information from multiple components and tailor the information to individual preferences. Commonly use indicators to help executives quickly identify the status of key information or critical success factors. |
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Term
| The 3 categories of that all measures of business performance fall into: |
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Definition
Market Pulse
Customer Service
Cost Driver |
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Term
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Definition
| Examples include daily sales numbers, market share, and subscriber turnover. |
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Term
| Customer Service Examples |
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Definition
| Examples include problems resolved on the first call, call center wait times, and on-time repair calls. |
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Term
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Definition
| Examples include number of repair trucks in the field, repair jobs completed per day, and call center productivity. |
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Term
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Definition
| Various commercial applications of artificial intelligence |
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Term
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Definition
| Simulates human intelligence such as the ability to reason and learn. AI systems can learn or understand from experience, make sense of ambiguous or contradictory information, and even use reasoning to solve problems and make decisions effectively. |
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Term
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Definition
| Computerized advisory programs that imitate the reasoning processes of experts in solving difficult problems. Most expert systems reflect expertise from many humans and can therefore perform better analysis than any single expert. |
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Term
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Definition
| A category of AI that attempts to emulate the way the human brain works. Most useful are those that involve patterns or image recognition because a neural network can learn from the information it processes. Big in the finance industry. |
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Term
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Definition
| A mathematical method of handling imprecise or subjective information |
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Term
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Definition
| An artificial intelligence system that mimics the evolutionary, survival-of-the-fittest process to generate increasingly better solutions to a problem. Finds the combination of inputs that gives the best input. |
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Term
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Definition
| A special-purpose knowledge-based information system that accomplishes specific tasks on behalf of its users. Use their knowledge base to make decisions and accomplish tasks in a way that fulfills the intentions of a user. |
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Term
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Definition
| Software that will search several retailer websites and provide a comparison of each retailer’s offerings including price and availability. |
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Term
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Definition
| This is a way of simulating human organizations using multiple intelligent agents, each of which follows a set of simple rules and can adapt to changing conditions |
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Term
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Definition
| A standardized set of activities that accomplish a specific task, such as processing customer’s order. |
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Term
| Customer Facing Processes |
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Definition
| result in a product or service that is received by an organization's external customer. |
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Term
| Business Facing Processes |
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Definition
| Invisible to the external customer but essential to the effective management of the business and include goalsetting, day-to-day planning, performance feedback, rewards, and resource allocation. |
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Term
| Business Process Re-engineering |
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Definition
| The analysis and redesign of work flow within and between enterprises near. BPR assumes the current process is irrelevant, does not work, or is broken and must be overhauled from scratch. |
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Term
| Business Process Modeling or Mapping |
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Definition
| The activity of creating a detailed flowchart or process map of award process showing its inputs, tasks, and activities, and a structured sequence |
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Term
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Definition
| Represent the current state of the operation that has been mapped. |
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Term
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Definition
| Shows the results of applying change improvement opportunities to the current process model |
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Term
| Business Process Management |
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Definition
| Integrates all the organizations business process to make individual processes more efficient. Can be used to solve a single glitch or to create one unifying system to consolidate a myriad of processes. |
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