ITM 309 Chapter Notes - Chapter 1: Cost Leadership, Information Technology
13 Sep 2016
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Document Summary
Internet of things case and class discussion: explain the internet of things (iot) and cite examples, the internet of things (iot) is a place where devices in the internet can share data without any human contact. Devices talking to eachother: examples of iot"s. Change temp when occupied, change temp based on the weather outside. Analyze customer patterns to predict new behaviors: core drivers of the information age are: Data raw facts that describe characteristics of an event. Info collected from multiple sources that analyzes patterns, trends and relationships: lowest sales/ week compared to economic ir. Knowledge skills, experience, coupled with info and intelligence. No because the data world is growing exponentially every year. Analyzes the competitive forces within the environment to assess the profitability of the industry. Buyer power- used to assess: # of customers, price sensitivity, order size, competitor differences, # of substitute products. Supplier power- factors to appraise: # suppliers, supplier size, service uniqueness, substitute availability.
