BUS 303 Saylor Exam Questios with 100% Correct Answers Information System - answer✔✔An integrated and cooperating set of software directed information technologies supporting individual, group, organizational, or societal goals. SWO T - answer✔✔An organization's strengths, weaknesses, opportunities, and threats. Used to evaluate their business strategy. Effectiveness - answer✔✔"Doing the right thing" A more effective firm can make better decisions and carry them out more successfully. Efficiency - answer✔✔"Doing things right". Less input effort but same output, or same amount of input effort producing more output. Fifth Wave - answer✔✔The current state in time where computers are so fast and so inexpensive that they have become ubiquit ous—woven into products in ways few imagined years before. Information Technology - answer✔✔Hardware, software and telecommunication equipment that is used to capture, process, store and distribute information. Moore's Law - answer✔✔Means that next generat ion chips should be twice as fast in eighteen months, but cost the same as today's models . Porter's Five Forces - answer✔✔Supplier Power Buyer Power Threat of Substitution Threat of New Entry affect your Competitive Rivalvry Also known as Industry and Competitive Analysis. Regulatory Compliance - answer✔✔An organization's adherence to laws, regulations, guidelines and specifications relevant to its business. Return on Investment - answer✔✔Measures the amount of return on an in vestment, relative to the investment's cost. (Gain from Investment - Cost of Investment) / Cost of Investment Data Standardization - answer✔✔The critical process of bringing data into a common format that allows for collaborative research, large -scale an alytics, and sharing of sophisticated tools and methodologies. Sustained Competitive Advantage - answer✔✔A long -term competitive advantage that is not easily duplicable or surpassable by the competitors. Business Process - answer✔✔A series of tasks that ar e repeated in order to produce a measurable output. Strategic management - answer✔✔is concerned with creating the general framework in which the business process are executed. Operational management - answer✔✔creates the workflow for formalizing and automa ting business processes and applying information systems, as appropriate, to support process execution. Administrative management - answer✔✔, typically the role of the IS unit, is responsible for developing the organizational and information systems infras tructure to support business processes. Data mart / warehouse - answer✔✔Repositories for large amounts of transactional data awaiting analytics and reporting. ePK - answer✔✔event controlled chain of process diagrams Business process management - answer✔✔This integrates an organization to make individual processes more efficient and can be used to fix one problem or create a unifying system to consolidate problems. Data mining - answer✔✔The process of analyzing data warehouses for information that can be used in management decision making. Notable applications: Voice recognition Classification of DNA sequences Natural Language processing Enterprise Resource Planning - answer✔✔The true value with this system is integration between the different systems and di fferent aspects of a company, with integration between selling, sourcing, producing, delivering, and invoicing. Business process reengineering - answer✔✔The complete and radical redesign of a business process, which is difficult because of resistance to ch ange, the expense, and the high probability of failure with the implementation of an entirely new system. OLAP - answer✔✔Leverages data cubes, which take data from standard relational databases, calculating and summarizing data for super -fast reporting acc ess. What factors limit business intelligence initiatives? - answer✔✔Firms that mismanage their customer data assets risk lawsuits, brand damage, lower sales, fleeing customers, and can prompt more restrictive legislation. Strategic Information Systems Pla nning (SISPM) - answer✔✔seeks to integrate and to align strategic objectives with an existing IS plan or business need. Business Process Re -engineering (BPRM) - answer✔✔is used to maximize corporate profitability by redesigning and transforming the organiz ation's business processes. System Development Methodologies (SDMs) - answer✔✔are used to design different types of information systems such as transaction processing systems, enterprise information systems, decision support systems, etc. . Information Sec urity Methodologies (ISM) - answer✔✔assist organizations to establish a security plan to address vulnerability associated with unauthorized misuse of information. Business intelligence (BI) - answer✔✔is a vague term that combines aspects of reporting, data exploration, and ad hoc queries, and sophisticated data modeling and analysis. Knowledge Discovery in Database - answer✔✔The broad process of finding knowledge in data, and emphasizes the "high -level" application of particular data mining methods. It is of interest to researchers in machine learning, pattern recognition, databases, statistics, artificial intelligence, knowledge acquisition for expert systems, and d ata visualization. Five steps: Selection
