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Appendix C.docx

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Department
Commerce
Course
COMMERCE 1B03
Professor
Rita Cossa
Semester
Winter

Description
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. 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. Intranet - A companywide network, closed to public access, that uses Internet-type technology Extranet - A semi-private network that uses Internet technology and allows more than one company to access the same information or allows people on different servers to collaborate One way to increase the probability of total privacy is to use dedicated lines (lines reserved solely for the network). There are two problems with his method: (1) it’s expensive, and (2) it limits use to computers directly linked to those lines. Virtual private network (VPN) - A private data network that creates secure connections or “tunnels” over regular Internet lines - Means that companies no longer need their own leased lines for wide-area communication but can instead use public lines securely - VPNs provide the same secure sharing of public resources for data Broadband technology - Technology that offers users a continuous connection to the Internet and allows them to send and receive mammoth files that include voice, video, and data much faster than ever before Internet2 - The new Internet system that links government supercomputer centres and a select group of universities; i
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