ISA 235 Final Exam Gowins Latest Version Graded A+

ISA 235 Final Exam Gowins Latest Version Graded A+ Data Raw facts that describe the characteristics of an event or object Structured Data Stored in traditional system such as a relational data base or spreadsheet Unstructured Data Not defined and does not follow specific format Big Data Collection of large, complex data sets including structured and unstructured data. Information Data converted into meaningful and useful context Business Intelligence (BI) Information collected from multiple sources such as suppliers, customers, competitors, partners, and industries that analyze trends and relationship decision making. Knowledge Skills, experience, and expertise coupled with information and intelligence that creates a person's intellectual resources. The Functional Structure Business processes are CROSS FUNCTIONAL (no group is solely responsible for the execution Systems Thinking A way of monitoring the entire system by viewing multiple inputs being processes or transformed to produce outputs while continuously gathering feedback on each part Porter's 5 Forces -Supplier power (influence the prices they charge for supplies) -Threat of substitute products and services (high when there are many alternatives) -Buyers Power (ability of buyers affect price of item) -Threat of new entrants (High when easy for new competitors to enter market) Choosing a business process -COST LEADERSHIP (low cost broad market) -DIFFERENTIATION (high cost broad market) -FOCUSED STRATEGY (narrow market) SWOT annalysis analysis evaluates an orgs strengths, weaknesses, opportunities, an treats to identify significant influences that work for or against business strategies. MIS a business FUNCTION, like accounting and hr, which moves info about people, products, and processes across the company to facilitate decision making and problem solving. Business Strategy a leadership plan that achieves a specific set of goals and objectives. ex; developing new products **SWOT, PORTERS 5 FORCES, VALUE CHAIN What is an information system hardware software data procedures people (interact to produce info) IT Organization and it's role The backbone of business functions ORGS evaluate, build strategy, and execute Value Chain Analysis Views a firm as a series of business processes that each add value to product or service Business Process A standardized set of activities that accomplish a specific task, such as a specific process. Value Chain Primary Activities how and where IT/IS can provide support *BUY MAKE SELL -inbound logistics -opperations -outbound logistics -marketing