MIS180 Ch.1 notes.rtf

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Management Information Systems
MIS 180
Robert Judge

MIS180 ch1 noteshow information fits into business operations strategy and systemsdescribe the information age and the differences among data information business intelligence and knowledgeidentify the different departments in a company and why they must work together to achieve successexplain systems thinking and how management information systems enable business communicationsfact is a confirmation or validation of an event or objectin the technology age information is readily available faster then ever before infinite quantities of facts are widely available to anyone who can use a computerwith widely accessible amounts of technology anyone who can use the internet has the ability to create a business or new technologythe core drivers of the information age are data infobusiness intelligence and knowledgeData raw facts that describe the characteristics of an event or objectbefore the info age managers had to rely on intuition or gut feelings today by analyzing data managers are more successful in making business decisionsin the information age successful managers compile analyze and comprehend massive amounts of data dailyinformation is data converted into a meaningful and useful contextinfo is only as valuable as the people who use itvariable a data characteristic that changes or varies over time ie price and quantity can vary over time variable allow managers to create hypothetical scenarios to study future possibilitiesBusiness intelligence information collected from multiple sources such as suppliers customers competitors partners and industries that analyze patterns trends relationships for strategic decision makingBusiness intelligence includes analyzing internal and external factors affecting profit
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