ADM 2372 Final: Final exam Review

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Document Summary

Chapter 1 information systems and business strategy. Management information system (mis): is the function that plans for, develops, implements, and maintains information systems hardware, software, applications that people use to support the goals for an organization. Information system: is any computer-based tool that peoples use to work with information and that supports the information and information processing needs of an organization. Data: raw facts representing events such as business transactions. For example, details of transactions, from the checkout counter of a supermarket. Information: data shaped into a form that is meaningful and useful to human beings. For example: total sales of soap, per region, per store. Knowledge: created by analyzing information; may lead to action. Business intelligence: information collected from multiple sources that analyzes pattern, trends, and relationships for strategic decision. Knowledge management: organizational process for acquiring, organizing, and dissemination knowledge. Is impact on business: reduce costs / improve productivity improve customer satisfaction/ loyalty create competitive advantage generate growth.