Chapter One Notes
Chapter One Notes CIS 429
Popular in Information Systems in Business
Popular in BUSINESS INFORMATION SYSTEMS (BIS)
This 2 page Class Notes was uploaded by Samantha Colona on Saturday August 27, 2016. The Class Notes belongs to CIS 429 at Missouri State University taught by Richard A. Johnson in Fall 2016. Since its upload, it has received 65 views. For similar materials see Information Systems in Business in BUSINESS INFORMATION SYSTEMS (BIS) at Missouri State University.
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Date Created: 08/27/16
Chapter 1 – Book Notes Fact- confirmation or validation of an event or object Information Age- when infinite quantities of facts are widely available to anyone who can use a computer The core dividers of the information age are: date, information, business intelligence, knowledge Data- raw facts that describe the characteristics of an event or object Helps with business decisions Information –data converted into a meaningful and useful context. Variable – data characteristic that stands for a value that changes or varies over time Business Intelligence (BI) – information collected from multiple sources such as suppliers, customer, competitors, partners, and industries that analyzes patterns, trends, and relationships for strategic decision making. Uses external and internal variables to help determine or forecast sales, markets, industries and economies Knowledge- includes the skills, experience, and expertise, coupled with information and intelligence that creates a person’s intellectual resources. Knowledge workers – are individuals valued for their ability to interpret and analyze information Departmental Companies Accounting – Records, measures and reports monetary transactions (monetary data) Finance- Tracks strategic financial issues including money, banking, credit investments, and assets (monetary data) HR – Maintains policies, plans, and procedures for the effective management of employees (employee data) Marketing- supports sales by planning, pricing, and promoting goods and services (trasactional data) Operations Management- manages the process of converting or transforming or resource into goods and services (production data) Sales- performs the function of selling goods and services (transaction data) Successful companies operate cross-functionally System- collection of parts that link to achieve a common purpose i.e. car Goods- materials items or products that customers will buy to satisfy a want or need Services- tasks performed by people that customers will buy to satisfy a want or need Production – process where a business takes raw materials and processes them or converts them into a finished product for its goods or services. Productivity- rate of which goods and services are produced based upon total output given total inputs. System thinking- way of monitoring the entire system by viewing multiple inputs being processed or transformed to produce outputs while continuously gathering feedback on each part. Feedback is information that returns to its original transmitter (input, process, output) and modifies the transmitters actions. Managerial Information Systems (MIS) – a business function, like accounting and HR, which moves information about people, products, and processes across the company to facilitate decision making and problem solving. Helps companies operate cross- functionally MIS is most valuable with people who know how to use it Video Notes - What is Management Information Systems (MIS)? 1: 07 concentrate on both the technical and the understanding of business knowledge. Many students tend to neglect one of these two important categories. 4: 45 have to be willing to communicate in today’s business word 6: 42 MIS adds value by having the technology side and the business side
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