MIS 180 Chapter 1: MIS180 Ch.1 notes.rtf
11 Sep 2013
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Document Summary
Data: raw facts that describe the characteristics of an event or object. before the info. age managers had to rely on intuition or gut feelings. today by analyzing data managers are more successful in making business decisions. Business intelligence: information collected from multiple sources such as suppliers, customers, competitors, partners and industries that analyze patterns, trends, relationships for strategic decision making. Business intelligence includes analyzing internal and external factors affecting profit. example of business intelligence: predicting inventory requirements a week before. Superbowl sunday, by knowing that weather is going to be above 80*f, stock market is performing well, and home team is performing average. Superior business intelligence means defining the future of a business, by analyzing markets, industries, and economies to determine strategic directing a company must move to remain profitable. Knowledge: includes skill, experience, and expertise, coupled with information and intelligence, that creates a persons intellectual resources. Knowledge workers: individuals valued for their ability to analyze and interpret information.
