ISQS Exam 1 (Texas Tech, Delgadillo) Study Guide with Complete Solutions

ISQS Exam 1 (Texas Tech, Delgadillo) Study Guide with Complete Solutions Data - Answer-Raw facts Information - Answer-The meaningful interpretation of data that enables us to make decisions. What makes data = information? - Answer-It's usefulness! Characteristics of good information - Answer-Accurate, complete, economical, flexible, reliable, relevant, simple, timely, verifiable. System - Answer-An organized collection of interrelated parts that work together to achieve a common purpose. What do systems have? - Answer-Inputs, procession mechanism, outputs, feedback, control. Subsystem - Answer-(Of a system) University - Business school - Marketing. Simple vs. Complex System - Answer-Simple- Very few elements & components, relationship is simple. EMILLYCHARLOTTE 2024/2025 ACADEMIC YAER ©2024 EMILLYCHARLOTTE. ALL RIGHTS RESERVED FIRST PUBLISH SEPTEMBER 2024 2/15 Complex- A system filled with many simple systems. A collection of simple systems is better than one, large complex system. Open vs. Closed System - Answer-Open- Everyone can use, don't have to have control of market (interact with other systems) Closed- Exclusive, not adoptable; only if you have control of market (no interaction) Information Technology - Answer-Refers to the method, techniques and tools that are used as means to bring about computer-based information systems. Information System - Answer-Is a set of interrelated components that collect (input), manipulate and store (processing), and disseminate (output) data and information as well as a feedback mechanism. What is input and processing? - Answer-Input - is the activity of capturing and gathering raw data. Processing - involves converting or transforming raw data into useful output. Output - Answer-Involves producing useful information, usually in the form of EMILLYCHARLOTTE 2024/2025 ACADEMIC YAER ©2024 EMILLYCHARLOTTE. ALL RIGHTS RESERVED FIRST PUBLISH SEPTEMBER 2024 3/15 documents and reports. Feedback - Answer-Is output that is used to make adjustments or changes to input or processing activities. Control - Answer-Involves monitoring and evaluating feedback. Computer Based Information System - Answer-is an Information System that uses computer systems, devices, and technology. Computer-Based IS Components?! - Answer-Hardware, Database, Networks, Procedures ***Software, People = KEY!!!!*** Comparative Advantage - Answer-Is a significant and long-term benefit to a company in relation to the competition (innovative thinking, IDEAS!!) Competing with Information Technology - Answer-Competitive value of IT lies mostly in the capability of software and of people and the value of information a business acquires and uses. Strategic Information Systems - Answer-Any kind of IS that uses IT to gain competitive advantage (or sometimes reduce competitive advantage). Major types of IS - Answer-- DSS - decisions (what if analysis) - Strategic, Upper EMILLYCHARLOTTE 2024/2025 ACADEMIC YAER ©2024 EMILLYCHARLOTTE. ALL RIGHTS RESERVED FIRST PUBLISH SEPTEMBER 2024 4/15 - MIS - reporting - Tactical, Middle - TPS - transactions - Operational, Lower Transaction Processing System - Answer-Is an organized collection of people, procedures, databases, and devices (software) used to develop and distribute business transactions. Management Information System - Answer-Is an organized collection of people, procedures, databases, and devices, used to provide routine information to decision makers. (**Reports) Decision Support System - Answer-Is an organized collection of people, procedures, databases, and devices used to support problem-