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This 30 page Study Guide was uploaded by Ajit Notetaker on Tuesday March 29, 2016. The Study Guide belongs to 70-450 at Carnegie Mellon University taught by Xi lI in Fall 2016. Since its upload, it has received 30 views. For similar materials see Corporate Finance in Finance at Carnegie Mellon University.
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Date Created: 03/29/16
Course Wrap Up 70-451 Management Information Systems Robert Monroe December 3, 2014 Agenda • Final exam logistics • Putting it all together – the MIS big picture • Q&A / Review Reminder – Faculty Course Evaluations • Please take a few minutes this week to complete your Faculty Course Evaluation for this course. • Bonus: if we have 85% survey completion, everybody gets +1 in overall class participation. Tell your friends! vote early and often! • Online: http://cmu.onlinecourseevaluations.com/ • Your feedback: – Helps me improve the course – Helps your fellow students make better decisions about courses and professors – Is anonymous – I get a report with results and comments 2-3 weeks after grades are in – Is very important for: • Faculty reviews, evaluation, and promotions • Selection of courses offered and teaching assignments Final Exam: • Time: Monday Dec. 8, 1:00pm – 4:00pm • Location: MM A14 • Format: – Closed book, computer, calculator, etc. exam – Format will be very similar to midterm exam • ~35-50% direct knowledge • ~25-33% integrating concepts • ~25-33% scenario or case analysis • Mix of multiple choice, short answer, analysis, and skills (e.g. write a requirement, build a data model) – Bring a watch – you may not use your mobile phone to keep time! Final Exam: • Topic coverage: – All topics covered in readings, class, or homeworks may be included on the exam – Slight emphasis on items covered after midterm exam – Heavy emphasis on items that we have covered in class • Study recommendations – The test will evaluate how well you have achieved the learning objectives outlined in the syllabus and on Piazza for each class – Focus on understanding the key ideas, practice applying them to business situations – Emphasis is not on the technology itself, but on how you can use information systems to build a better business – Study together – explain the concepts to each other, discuss what you think the key ideas are, ask each other questions Putting It All Together Module 1: Strategic IT Use and Investment Core questions: • How should I invest my scarce resources in MIS to maximize return? • What is Information Technology (IT)? • What is a Management Information System (MIS)? • Does IT matter? • How can MIS be used to solve business problems? Some Big Ideas To Take Away (Module 1.1) • Aligning your IS investments, projects, and efforts with your business’ objectives and strategy is a necessary condition for information systems success • Remember: Profits = Revenues – Costs so… IS investments should lead to increased revenues or reduced costs Analagous equations work for non-profit and governmental organizations: have a reason to do what you are doing Some Big Ideas To Take Away (Module 1.2) • Does IT matter? Maybe. – It may or may not for your organization, invest and manage accordingly – If you are an innovator, move aggressively – Most businesses need to focus on costs and risks at least as much as on taking advantage of new IT opportunities Module 1: Strategic IT Use and Investment Primary learning objectives • Explain the difference between hardware, software, networks, and data, and the role each plays in an organization's IT infrastructure. • Explain why it is useful to evaluate Information System projects as investment alternatives • Describe the critical parameters that go into the valuation of an Information System and/or IS project • Apply the concept of return on investment to an Information Systems investment, at a very coarse level. • Understand the basic concepts underlying cloud computing. Module 2: Better Business Through IS • How can I use information systems to run my business more efficiently and effectively? • What is an Enterprise Information System? • What do SCM, ERP, and CRM mean? What do I need to know about them? • Why are Enterprise Systems so difficult to build, deploy, and manage? Big Ideas To Take Away (Module 2) • Enterprise systems tie together the information systems and operations from across a business – … and possibly across that businesses’s suppliers and customers as well • The breadth and complexity of enterprise solutions makes them complex, difficult, and high risk to implement – … but also high-payoff when implemented well • Major types of enterprise systems include – ERP, CRM, SCM, e-Commerce Module 2: Better Business Through IS Primary learning objectives • Be able to explain common challenges that arise when a large organization attempts to build an enterprise-scale information system and revise its business processes to make use of the new system • Be able to identify the standard, core elements of an e-commerce system (C2C, B2C, or B2B), explain what each of them does, why it is important, and the role that it plays in the overall e- commerce system • Understand the benefits and drawbacks of various approaches to online marketing • Understand what an ERP system is, what it does, and why it is sometimes described as the backbone of the company's operations Module 2: Better Business Through IS Primary learning objectives (continued) • Be able to identify the primary components of a supply chain management system, describe the role of each of these components in the overall system, and describe how they relate to each other • Understand the different types of inputs needed to make an SCM system work effectively, and the types of information (outputs) that an SCM system can provide to a business's managers and employees • Be able to explain how an SCM system can help with the strategic management of a company's operations, as well as the day-to-day tactical operations of the business. Module 3: Developing Custom Information Systems • How do IT professionals specify, design, and build information systems? • Why is it so hard to effectively design and deploy information systems? • What do I need to know to effectively buy or build an enterprise information system? Big Ideas To Take With You • There are many different models of Software Development Lifecycles (SDLC’s) but they all have a common set of steps or phases that they cover – Planning – Analysis – Design – Development – Testing – Implementation – Maintenance • The order, time spent, approach taken, and relative importance of each of the phases varies dramatically from one SDLC model to another – No one SDLC is right for all projects and all organizations, you should know that there are many ways to develop an information system and be able to use the different models as appropriate on different projects Big Ideas To Take With You • Getting the requirements right for an IS project does not insure a successful project, but getting the requirements wrong almost insures project failure • There are many ways to acquire IS capabilities for your organization. – Understand when to use each model, and the costs, benefits, and challenges of each approach Module 3: Developing Custom Information Systems Primary learning objectives • Be able to explain: – The fundamental phases of systems development projects, the tasks done in each of these phase, who does them, and the questions each of the stages answers – The core principles underlying structured, iterative, and agile development methodologies – The difference between three broad categories of IS projects – Business Process Automation (BPA), Improvement (BPI), and Reengineering (BPR) – Common alternatives for acquiring custom system capabilities • Write clear, effective, and unambiguous requirements Module 4: Managing and Leveraging Data • How can my business make effective use of its data? • What is an information asset? Why should I care? • How does a database work? What do I need to know to use one effectively? • What are: – Business Analytics? – Data Warehousing? – Big Data? Big Ideas To Take With You • Data is a core asset of many modern organizations – Treat it as such, invest in it properly, and leverage it accordingly • In order to be a data-driven organization you first need to capture the right data and insure that it is high-quality – … then you need to figure out how to take advantage of it Module 4: Managing and Leveraging Data Primary learning objectives • Be able to explain: – Why data is a core asset for many organizations – The difference between data, information, and knowledge – The difference between transactional and analytic information – The difference between structured, semi-structured, and unstructured data • Be able to represent basic data models in an organization using the relational data model – Apply normalization techniques to avoid anomalies – Write basic SQL queries to retrieve data from an RDBMS Module 4: Managing and Leveraging Data Primary learning objectives (continued) • Be able to explain: – The most important attributes of a data warehouse – What common data integration and data integrity problems are, and how they can be addressed when building a data warehouse – The concept and elements that make up an effective Key Performance Indicator (KPI) – The four V's of Big Data - Volume, Variety, Velocity, and Veracity • Be able to evaluate a business situation to identify core business questions, turn them into data questions, and propose creative ways to collect and use data to answer those questions Module 5: Information Security • How do I keep my organizations Physical Secure information ‘secure’? Security Application • How much should I spend to do so? • What role does technology play Secure Hardened in information security and what Platform role do people and processes Architecture play? Big Ideas To Take With You • Information security is, first and foremost, a management challenge and responsibility – There are technical solutions to address the problem but if management does not guide information security decisions then the technology solutions are unlikely to protect the right things, or have an appropriate level of protection applied • You need to think broadly and holistically to put an effective information security program in place • Hire technical experts to implement your information technology security – it is very difficult for a non- specialist to properly secure an information system Module Module 5: Information Security Primary learning objectives – be able to: • Explain why information security is a management issue first and a technology issue second • Apply simple risk management techniques and frameworks to uncover the largest information security risks in an organization, and to focus your information security resources appropriately • Explain how cryptography techniques can be used to support information security • Identify common information security attacks and risks • Apply technologies and techniques to address these threats Module 6: Evaluating Emerging IT Opportunities • How do I decide which cool new technologies our business should invest in (and which ones to ignore?) • How do I make investment decisions if the outcome of the investment is so unpredictable? • What frameworks are available for evaluating emerging information technologies? Big Ideas To Take With You • There will, for the foreseeable future, be many opportunities to invest in emerging information technologies – Choose carefully before making these investments • Well selected technology investments can be transformative • Poorly selected technology investments can be expensive and wasteful – Make sure that the technologies that you decide to invest in will solve real, significant problems for your business before investing (and won’t cause any critical problems for you) – Invest and experiment incrementally to avoid over-spending Module 6: Evaluating Emerging IT Opportunities Primary learning objectives – be able to: • Apply the three main emerging IT / technology adoption models covered in class to new technologies – Monroe’s Emerging IT model – S-Curves – The Gartner Hype Cycle • Identify and take advantage of business opportunities presented by social computing technologies, mobile computing, collaborative consumption, and the internet of things Stay curious, my friends Thank you! I enjoyed our class and hope you did also Bob Monroe firstname.lastname@example.org
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