GMS 200 Lecture Notes - Lecture 1: Alternative 3, Business Intelligence, Stakeholder Analysis

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Horatio Morgan

Document Summary

This section is about understanding the role of information in the management process. Information: is data made useful and meaningful for decision making. Information must meet the test of these ve criteria to be useful; 5. understandable- information is clear and easily understood by user. Analytics: describes the systematic evaluation and analysis of information to make decisions. Information technology (it): helps us acquire, store, and process information. Business intelligence: taps information systems to extract and report data in organized ways that are helpful to decision makers. Management information systems (mis): uses it to collect, organize, and distribute data for use in decision- making. This section is about understanding how managers use information to make decisions. Planning advantages- better and more timely access to useful information. Organizing advantages- more ongoing and informed communication among all parts of the organization/ also improved coordination and integration. Leading advantages- improved communication with staff and stakeholders.