Sample Upload BIS255
Sample Upload BIS255 BIS 255
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This 5 page Class Notes was uploaded by Robert McCrackin on Thursday April 21, 2016. The Class Notes belongs to BIS 255 at Central Michigan University taught by Brent Jensen in Summer 2015. Since its upload, it has received 24 views. For similar materials see Information Systems in Business at Central Michigan University.
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Date Created: 04/21/16
Chapter One Information Systems -Used by organizations to reduce costs and gain a competitive advantage in the marketplace - Used by students for online classes Computer literacy: skill in using productivity software such as: -Word processors, spreadsheets, database management systems, and presentation software -Knowledge of hardware and software, the internet, and collaboration tools and technologies Information literacy: understanding the role of information in generating and using business intelligence Business intelligence (BI) -Provides historical, current and predictive views of business operations and environments -Gives organizations a competitive advantage in the marketplace The Beginning: Transaction-Processing Systems -Focus on data collection and processing -Mainly used for cost reduction - Applied to structured tasks -Record keeping, simple clerical operation and inventory control - Requires minimal human involvement when automated Management Information Systems -Organized integration of hardware and software technologies, data, processes, and human elements -Designed -Processes: Methods for performing a task in an MIS application -Designing involves: -Defining the system’s objectives -Collecting and Computers and Information Systems in Daily Life -Computers information systems are all around you - Online classes - Grading -Grocery and retail - PDA and smartphones -Internet -Collaborative consumption – joining as a group to use a specific product more efficiently -Groupon, Zip Car, etc. 4 Major Components of Information Systems Data – raw facts -Component of an information system consisting raw facts - Has a time orientation -Collected in forms of: -Aggregated -Useful for reporting overall performance during a sales quarter -Disaggregated -Analyzes sales by product, territory, or salesperson Database – Collection of relevant data organized in a series of integrated files -Essential for the success of any information system -Database management system (DBMS) is used to create, organize, and manage databases Process – component of an information system Information – consists of facts analyzed by the process component and is an output of an component and is an output of an information system -Need to have the following qualities to be useful: -Timeliness -Integration with other data and information -Consistency and accuracy -Relevance -Information systems should produce information in different formats -Graphics -Reports -Tables Using Information Systems and Information Technologies Information technologies: support information systems -Uses: -Internet -Computer networks -Database systems -POS systems -Radio frequency identification (RFID) tags Importance of Information systems -Timely, relevant, and accurate information is a critical tool for: -Enhancing a company’s competitive position in the marketplace -Managing the four M’s of resources -Manpower, machinery, materials, and money The Importance of Information Systems Using Information Technologies for a Competitive Advantage -Strategies for competing in the marketplace identified by Michael Porter, a professor at Harvard Business School -Overall cost leadership -Differentiation -Focus Information systems helps: -Organizations to reduce the cost of products and services -Bottom-line strategies -Improves efficiency by reducing overall costs -Top-line strategies -Focuses on generating new revenue Porter’s Five Forces Model: Understanding the Business Environment 1. The Threat of new entrance 2. Threat of substitute products 3. Bargaining power of suppliers 4. Bargaining power of customers 5. Intensity of rivalry Buyer power -High when customers have many choices and low when customers have few choices Supplier power -High when customers have fewer options and low when customers have more options Threat of substitute products or services -High when alternatives to an organization’s products and services are available Threat of new entrants -Low when duplicating a company’s product or service is difficult -Focus strategies are used by organizations to ensure the threat of new entrants remains low Rivalry among existing competitors -High when competitors occupy the same marketplace position and low when there are few competitors Popular Jobs in IS Field -Manager of info systems services -Network admin -Computer programmer Key terms: -Business intelligence -Computer literacy -Data -Database -Five forces model -Information
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