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COMMERCE 1B03 Chapter Notes -Intranet, Internet2, List Of File Formats


Department
Commerce
Course Code
COMMERCE 1B03
Professor
Rita Cossa

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Appendix C
In the 1970s business technology was known as data processing (DP). Data are raw,
unanalyzed, and unorganized facts and figures. Information is the processed and
organized data that can be used for managerial decision making. DP was used to
support an existing business; its primary purpose was to improve the flow of financial
information.
Business shifted to using new technology on new methods. Business technology then
became known as information technology (IT), and its role became to change
business.
IT
-Technology that helps companies change business by allowing them to use
methods
Virtualization
-Accessibility through technology that allows business to be conducted
independent of location
Such tools as cellular phones, pagers, laptop computers, and personal digital assistants
(PDAs) allow you to access people and information as if you were in an actual office.
Electronic communications can provide substantial time savings whether you work in an
office, at home, or on the road. Instant messaging (IM), best known as the preferred
way for millions of teenagers to communicate, is now a favourite business real-time
communication tool.
In the mid-1990s, we started to move away from information technology and toward
knowledge technology (KT).
Knowledge is information charged with enough intelligence to make it relevant and
useful. KT adds a layer of intelligence to filter appropriate information and deliver it
when it is needed.
KT changes the traditional flow of information; instead of an individual going to the
database, the data come to the individual. Knowledge databases may one day replace
the traditional mentors who helped workers up the corporate ladder.

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Business intelligence systems (BI) refer to a variety of software applications that
analyze an organization’s raw data and take useful insights from it. Bl activities include
data mining, online analytical process, querying, and reporting.
The types of information that are available to businesses today include the following
Business Process Information
Physical-world observations
Biological data
Public data
Data that indicate personal preferences or intentions
Today, business people are deluged with so much data that this information overload is
referred to as infoglut. The most important step toward gaining perspective is to identify
the four or five key goals you wish to reach. The usefulness of management information
depends on four characteristics:
1. Quality
2. Completeness
3. Timeliness
4. Relevance
A data warehouse stores data on a single subject over a specific period of time. The
whole purpose of a data warehouse is to get data out. Data mining is looking for hidden
patterns in a data warehouse. Data mining software discovers previously unknown
relationships among the data.
The success of data mining depends on a number of factors, but perhaps the most
important is access to data to mine in the first place.
To manage knowledge, a company needs to learn how to share information throughout
the organization and to implement systems for creating new knowledge. This need is
leading to new technologies that support the exchange of information among staff,
suppliers, and customers.
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