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Lecture 1

ITM 102 Lecture Notes - Lecture 1: Business Intelligence, Accounts Payable, Financial Statement

4 Pages
114 Views
Fall 2014

Department
Information Technology Management
Course Code
ITM 102
Professor
Bob Hudyma
Lecture
1

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Chapter 2
Personal Notes
Different levels of business require different information types
Operational – Employees develop, control and maintain core business activities required to run
the day-to-day operations. Operational decisions are structural decisions, which arise in
situations where established processes offer potential solutions. Made frequently and often
repetitive, such as employee staffing schedules, weekly production schedules, etc
Managerial (Sometimes called Tactical) – Managers cover short and medium range plans,
schedules and budgets, as well as procedures, policies and business practices. They also
allocate resources to and monitor the performance of sub-units (project teams, work groups),
and these situations are called “semi-structured decisions” in which structured process offer
potential solutions, but not enough to lead a definite decision
Strategic – At the strategic level, managers develop overall business strategies, goals and
objectives as part of the company’s overall direction in relation to politics, economy and
business environment. There are highly unstructured decisions where decision makers have
no procedures or rules to guide them to the right choice
Transactional Data – encompasses all the raw facts within a single business process or unit of
work, primary purpose is to support daily operations tasks
Analytical Information – encompasses all summarized or aggregated transactional data, and
its primary purpose is to support performing analysis tasks. Also include information from the
outside market and industry sources
Online Transaction Processing (OLTP) – is the capturing of transaction and event data to (1)
process the data according to defined business rules (2) store the data and (3) update the old
data to reflect the new additions
Online Analytical Processing (OLAP) – analysis of summarized or aggregated information
sourced from transaction processing systems and sometimes from outside sources.

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Description
Chapter 2 Personal Notes Different levels of business require different information types Operational – Employees develop, control and maintain core business activities required to run the day-to-day operations. Operational decisions are structural decisions, which arise in situations where established processes offer potential solutions. Made frequently and often repetitive, such as employee staffing schedules, weekly production schedules, etc Managerial (Sometimes called Tactical) – Managers cover short and medium range plans, schedules and budgets, as well as procedures, policies and business practices. They also allocate resources to and monitor the performance of sub-units (project teams, work groups), and these situations are called “semi-structured decisions” in which structured process offer potential solutions, but not enough to lead a definite decision Strategic – At the strategic level, managers develop overall business strategies, goals and objectives as part of the company’s overall direction in relation to politics, economy and business environment. There are highly unstructured decisions where decision makers have no procedures or rules to guide them to the right choice Transactional Data – encompasses all the raw facts within a single business process or unit of work, primary purpose is to support daily operations tasks Analytical Information – encompasses all summarized or aggregated transactional data, and its primary purpose is to support performing analysis tasks. Also include information from the outside market and industry sources Online Transaction Processing (OLTP) – is the capturing of transaction and event data to (1) process the data according to defined business rules (2) store the data and (3) update the old data to reflect the new additions Online Analytical Processing (OLAP) – analysis of summarized or aggregated information sourced from transaction processing systems and sometimes from outside sources. Chapter 2 – Class 2 – In Class Notes Key Themes: Decision Making in Business, Business Processes • Managerial decision-making challenges o Analyze large amounts of information o Apply sophisticated analysis techniques o Make decisions quickly • Decision making and problem solving occur at each level in an organization o From bottom to top : Operational, Managerial, Strategic • Metrics – measurements that evaluate results to determine whether a project is meeting its goals. Common types include: o KPIs – Key Performance Indicators o Efficiency and Effectiveness o Efficiency is how fast transactions can be processed (Transaction speed and relating) o Effectiveness is the rate of return of your customers and their satisfaction • Benchmark – Baseline (where we are right now) values the system seeks to attain • Benchmarking – How do we improve the above? A process of continuously measuring system results, comparing those results to optimal system performance (benchmark values), and identifying steps and procedures to improve system performance. o Compares to previous benchmark to identify better/worse conditions, etc • Key Performance Indicators (KPIs) – The quantifiable metrics a company uses to evaluate progress toward critical success factors • Efficiency Metrics – Measure the performance of IS itself, such as throughput, transaction speed, and system availability • Effectiveness Metr
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