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Definition
| Information collected from multiple sources such as suppliers, customers, competitors, partners, and industries that analyze patterns, trends, and relationships for strategic decision making. |
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| standardized set of activities that accomplish a specific task |
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| one of porter's five forces, measures the ability of buyers to directly affect the price they are willing to pay for an item |
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Term
| chief information officer |
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Definition
| responsible for 1) overseeing all uses of MIS and 2) assuring that MIS strategically aligns with business goals and objectives |
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Definition
| repsonsible for collecting, maintaining,and distributing company knowledge |
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| responsible for ensuing the ethical and legal use of information within the company |
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Definition
| responsible for ensuring the security of business systems and developing strategies and safeguward against attacks from hackers and viruses |
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Definition
| a feature of a product or service on which customers place a greater value than on similar offerings from competitors |
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Definition
| raw facts that describe the characteristics of an event or object |
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Term
| chief techonology officer |
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Definition
| responsible for ensuring the speed, accuracy, availablilty, and reliability for MIS |
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Definition
| measures the impact that MIS has on business processes and activities including customer satisfaction and customer conversion rates |
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Definition
| measures the performance of MIS itself such as throughput, transaction speed, and system availablilty |
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| a feature of a product or service that customers have some to expect and competitors entering the market must offer minimal or the same in order to survive |
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| the study and interpretation of the political, economic, social and technological events and trends which influence a business, an industry or even a total market |
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Definition
| a confirmation or validation of an event or object |
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| information that returns to its original transmitter and modifies the transmitters actions |
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| an advantage that occurs when a company can significantly increase its market share by being the first to market with a competitive advantage |
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Definition
Porter’s competitive strategy theory is based on an analysis of a company's competitive position within its environment, using the "five forces" that drive competition. These forces are the relative strength of buyers or customers; the relative strength of suppliers; the relative ease with which potential new competitors can enter the market; the potential availability of substitutes; and rivalry between competing firms.
- Buyer power: good for buyers when they have many choices.
- Supplier power: good for suppliers when buyers have few choices
- Threat of substitute products and services: good for buyers when they have alternatives to products and services.
- Threat to new entrants: good for suppliers when it is easy to enter the marketplace.
- Rivalry among existing competitors: good for buyer when competition is severe in the market. |
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Definition
| data converted into a meaningful useful context |
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| skills, experience, and expertise coupled with information and intelligence that creates a person's intellectual resources |
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| individuals valued for their ability to interpret and analyze information |
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| a program to reward customers based on spending |
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| management information systems |
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| a business function, like accounting or human resources, which moves information about people, products, and processes across the company to facilitate decision making and problem solving |
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| an advantage that occurs when a company develops unique differences in its products with the intent to influence demand |
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| rivalry among existing competitors |
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Definition
| one of porter's five forces; high when competition is fierce in a market and low when competitors are more complacent |
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Definition
| one of porter's five forces, measures the supplier's ability to influence the prices they change for supplies |
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Definition
| all partities involved, directly and indirectly, in obtaining raw materials or a product |
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| costs that make a customer reluctant to switch to another product or service |
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| a collection of parts that link to achieve a common purpose |
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Definition
| a way of monitoring the entire system by viewing multiple inputs being processed or transformed to produce outputs while continuously gathering feedback on each part |
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Definition
| one of porter's five forces, high when it is easy for competitors to enter the market and low where there are high barriers to entry in the market |
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| threat of substitute products or services |
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Definition
| one of porter's five forces, high when there are many alternative products or services in the market to chose from and low when there are few alternatives |
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Definition
| encompasses all organizational information, and its primary purpose is to support the performing of managerial analysis or semi structured decisions |
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Definition
| simulates human behavior such as the ability to think and learn |
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Definition
| represents the current state of operation that has been mapped, without any specific improvements or changes to exisiting processes |
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| involves computerizing manual tasks making them more efficient and effective and dramatically lowering operational costs |
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Definition
| a process of continuously measuring system results, comparing those results to optimum system performance, and identifying ways to improve the process |
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| baseline values the system seeks to retain |
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Definition
| occurs when resources reach full capacity and cannot handle any additional demand |
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Definition
| invisible to the external customer but essential to the effective management of the business, they include goal setting, day to day planning, giving performance and feedback, and allocating resources |
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Definition
| standardized set of activities that accomplish a specific task |
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| business process improvement |
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Definition
| attempts to understand and measure the current process and make performance improvements accordingly |
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Term
| business process management |
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Definition
| focus on evaluting and improving processes that include both person to person workflow and system to system communications |
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Definition
| a graphic description of a process, showing the sequence of process tasks, which is developed for a specific purpose and from a selected view point |
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| business process modeling |
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Definition
| the activity of creating a detailed flowchart or process map of a work process that shows its inputs, tasks, and activities in a structured sequence |
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Term
| business process reengineering |
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Definition
| the analysis of redesign of workflow within and between enterprises |
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Definition
| the aggregation of data from simple roll-ups to complex groupings of interrelated information |
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| crucial steps companies perform to achieve their goals and objectives and implement their strategies |
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Definition
| results in a product or service that is received by an organizations external customer |
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Definition
| model information using OLAP, which provides assistance in evaluating and choosing among different cources of action |
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Definition
| tracks KPIs and CSFs by compiling information from multiple sources and tailoring it to meet user needs |
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Definition
| enables users to view detail, and details of details, of information |
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| executive information system |
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Definition
| a specialized DSS that supports senior-level executives and unstructured, long term non routine decisions requiring judgment, evaluation, and insight |
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Definition
| computerized advisory programs that imitate the reasoing processes of experts in solving difficult problems |
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| a mathermatical method of handling imprecise or subjective information |
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| an AI system that mimics the evolutionary survival of the fittest process to generate increasingly better solutions to problems |
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Definition
| finds the inputs necessary to achieve a goal such as a desired level of output |
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Definition
| a special-purpose knowledge-based information system that accomplishes a specific task on behalf of its users |
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Definition
| various commericial applications of artificial intelligence |
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| key performance indicators |
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Definition
| quantifiable metrics a company uses to evaluate progress toward critical success factors |
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Definition
| a simplified representation or abstraction of reality |
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| a category of AI that attempts to emulate the way the human brain works |
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| online analytical processing (OLAP) |
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Definition
| the manipulation of information to create business intelligence in support of strategic decision making |
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| online transaction processing (OLTP) |
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Definition
| the capturing of transaction and event information using techonology to 1)process the information according to defined business rules 2)store the information 3)update existing information to relect the new information |
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Definition
| temporary activity a company undertakes to create a unique product, service or result |
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| occurs when a task or activity is unnecessarily repeated |
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| indicates the earning power of a project |
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| occurs in situations in which a few established processes help to evaluate potential solutions, but not enough to lead to a definite recommended decision |
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Definition
| a special case of what-if analysis, is the study of the impact on other variables when one variable is changed repeatedly |
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Definition
| software that will search several retailer websites and provide a comparision of each retailers price and offerings |
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Definition
| the ability to look at information from different prospective |
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| involves situation where established process offer potential solutions |
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Definition
| shows the results of applying change improvment opportunities to the current process model |
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Term
| transactional processing system (TPS) |
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Definition
| the basic business system that serves the operational level and assists in making structured decisions |
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Term
| transactional information |
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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 or structured decisions |
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Definition
| occurs in situations in which no procedures or rules exist to guide decision makers toward the correct choice |
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| a computer simulated environment that can be a simluation of the real world or an imaginary world |
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Definition
| produces graphical displays of patterns and complex relationships in large amounts of data |
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Definition
| checks the impact of a change in a variable or assumption on the model |
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Definition
| include the tasks, activities, and responsiblities required to execute each step in a business process |
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Definition
| Reveals the relationship between variables along with the nature and frequency of the relationships |
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| The data elements associated with an entity |
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| business critical integrity constraint |
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Definition
| Enforces business rules vital to an organizations success and often requires more insight and knowledge than relational integrity constraints |
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Definition
| technique used to divide information sets into mutually exclusive groups such that the members of each group are as close together as possible and the different groups are as far apart as possible |
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| the common term for the representation of multidimensional information |
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| Compiles all of the metadata about the data elements in the data model |
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| An interactive website kept constantly updated and relevant to the needs of the customers using the database |
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| The smallest or basic unit of information |
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| The overall management of the availability, usability, integrity, and security of company data |
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Definition
| Occurs when the same data element has different values |
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Definition
| occurs when a system produces incorrect, inconsistent, or duplicate data |
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| Contains a subset of data warehouse information |
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| The process of analyzing data to extract information not offered by the raw data alone |
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| Uses a variety of techniques to find patterns and relationships in large volumes of information that predict future behavior and guide decision making |
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| Logical data structures that detail the relationships among data elements by using graphics or pictures |
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| Determines the accuracy and completeness of its data |
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| The duplication or storage of the same data in multiple places |
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| A logical collection of information, gathered from many different logical databases, that supports business analysis activities and decision making tasks |
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Definition
| Maintains information about various types of objects, events, people, and places |
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| database management system |
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Definition
| Creates, reads, updates, and deletes data in a database while controlling access and security |
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| Stores information about a person, place, thing, transaction, or event |
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| extraction, transformation, and loading (ETL) |
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Definition
| A process that extracts information from internal and external databases, transforms it using a common set of enterprise definitions, and loads it into a data warehouse |
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| Predictions based on time series information |
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| A primary key of one table that appears as an attribute of another table and acts to provide a logical link between the two tables |
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| Takes information entered into a system and sends it automatically to all downstream systems and processes |
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| Data converted into meaningful and useful context |
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| information cleaning or scrubbing |
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Definition
| A process that weeds out and fixes or discards inconsistent, incorrect, or incomplete information |
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| The extent of detail within the information |
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| A measure of the quality of information |
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| Rules that help ensure the quality of information |
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| Shows how individual users logically access information to meet their own particular business needs |
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| Analyzes such items as websites and checkout basket scanner information to detect customer buying behavior and predict future behavior by identifying affinities among customers choices of products and services |
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| The physical storage of information on a storage device |
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| A field that uniquely identifies a record in a field |
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| Immediate, up-to-date information |
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| Provides real time information in response to requests |
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| A collection of related data elements |
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| relational database management system |
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Definition
| Allows users to create, read, update, and delete data in a relational database |
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| relational database model |
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Definition
| Stores information in the form of logically related two-dimensional tables |
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| relational integrity constraint |
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Definition
| Rules that enforce basic and fundamental information-based constraints |
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Definition
| Performs such functions as information correlations, distributions, calculations, and variance analysis |
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Definition
| Data already in a database or spreadsheet |
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| structured query language |
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Definition
| User writes lines of code to answer questions against a database |
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Definition
| Analyzes unstructured data to find trends and patterns in words and sentences |
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Definition
| Time stamped information collected at a particular frequency |
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| Data that do not exist in a fixed location and can include text documents, PDFs, voice messages, emails, etc. |
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Definition
| Analyzes unstructured data associated with websites to identify consumer behavior and website navigation |
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Definition
| Occurs when distorted product demand ripples from one partner to the next throughout the supply chain |
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Term
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Definition
| generate demand forecasts using statistical tools and forecasting techniques, so companies can respond faster and more effectively to consumer demands through supply chain enhancements |
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Definition
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Definition
| All parties involved, directly or indirectly, in obtaining raw materials or a product |
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Definition
| The management of information flows between and among activities in a supply chain to maximize total supply chain effectiveness and corporate profitability |
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| supply chain planning (SCP) system |
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Definition
| Uses advanced mathematical algorithms to improve the flow and efficiency of the supply chain while reducing inventory |
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Definition
| The ability to view all areas of the supply chain up and down in real time |
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Definition
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| transportation planning system |
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Definition
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| supply chain execution (SCE) |
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| Ensures supply chain cohesion by automating the different processes in the supply chain |
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| Accounting and Finance ERP Component |
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Definition
| Manages accounting data and financial processes within the enterprise with functions such as general ledger, accounts payable, accounts receivable, budgeting, and asset management |
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Definition
| Takes information entered into a given system and automatically sends it to all upstream processes and systems |
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Definition
| The traditional components included in most ERP systems and primarily focus on internal operations |
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Definition
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| enterprise application integration (EAI) middleware |
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Definition
| Takes a new approach to middleware by packing commonly used applications together, reducing the time needed to integrate applications from multiple vendors |
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| enterprise resource planning (ERP) |
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Definition
| Integrates all departments and functions throughout an organization into a single IT system so employees can make decisions by viewing enterprise wide information about all business operations |
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Definition
| Provides enterprise wide support and data access for a firms operations and business processes |
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Definition
| The business to business online purchase and sale of supplies and services |
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Definition
| The extra components that meet organizational needs not covered by the core components and primarily focus on external operations |
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Term
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Definition
| takes information entered into any given system and sends it automatically to all downstream systems and processes |
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| human resources ERP component |
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Definition
| Tracks employee information including payroll, benefits, compensation, performance assessment, and ensures compliance with all laws |
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Definition
| Several different types of software that sit between and provide connectivity for two or more software applications |
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| production and materials management ERP component |
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Definition
| Handles production planning and execution tasks such as demand forecasting, production scheduling, job cost accounting, and quality control |
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Definition
| Supports back office operations and strategic analysis and includes all systems that do not deal directly with the customer |
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Term
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Definition
| Gathers product details and issue resolution information that can be automatically generated into a script for the representative to read to the customer |
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| campaign management system |
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Definition
| Guides users though marketing campaigns by performing such tasks as campaign definitions, planning, scheduling, segmentation, and success analysis |
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Term
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Definition
| Allows customers to click on a button and talk to a representative via internet |
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Definition
| Where customer service representatives answer customer inquiries and solve problems by email, chat, or phone |
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Term
| contact management CRM system |
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Definition
| Maintains customer contact information and identifies prospective customers for future sales, using tools such as organizational charts, detailed customer notes, and supplemental sales information |
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Term
| customer relationship management |
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Definition
| A means of managing all aspects of a customer’s relationship with an organization to increase customer loyalty and retention and an organizations profitability |
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Definition
| Helps organizations segment customers into categories such as best and worst customers |
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| CRM predicting techonology |
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Definition
| Helps an organization predict a customer’s behavior |
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Term
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Definition
| helps an organization define their customers across other applications |
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Definition
| Selling additional products or services to an existing customer |
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Term
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Definition
| generates demand forecasts using statistical tools and forecasting techniques, so companies can respond faster and more effectively to customer demands through supply chain enhancements |
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| employee relationship management |
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Definition
| Provides web based self service tools that streamline and automate the HR department |
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Term
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Definition
| Supports traditional transactional processing for day to day front office operations or systems that deal directly with the customers |
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| opportunity management CRM system |
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Definition
| Targets sales opportunities by finding new customers or companies for future sales |
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| partner relationship management |
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Definition
| Discovers optimal sales channels by discovering the right partners and identifying mutual customers |
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Term
| sales force automation (SFA) |
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Definition
| Automatically tracks all the steps in the sales process |
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Term
| sales management CRM system |
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Definition
| Automates each phase of the sales process, helping individual sales representatives coordinate and organize all their accounts |
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| Supplier Relationship management (SRM) |
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Definition
| Focuses on keeping suppliers satisfied by evaluating and categorizing suppliers for different projects |
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Definition
| Increase the value of the sale |
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| web based self service system |
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Definition
| Allows customers to use the web to find answers to their questions or solutions to their problems |
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Definition
| Occurs when a website has stored enough data about a person’s likes and dislikes to fashion offers more likely to appeal to that person |
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