UB MGS 351 - MGS Exam #2 Comprehensive Study Guide (17 pages)

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MGS Exam #2 Comprehensive Study Guide



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MGS Exam #2 Comprehensive Study Guide

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Pages:
17
School:
University at Buffalo, The State University of New York
Course:
Mgs 351 - Intro to Mgmt Info Systms
Intro to Mgmt Info Systms Documents
Unformatted text preview:

Chapter 3 Databases and Data Warehouses Supporting the Analytics Driven Organization Business intelligence BI collective information that gives you the ability to make effective important and strategic business decisions Analytics the science of fact based decision making OLTP Online Transaction Processing OLAP Online Analytical Processing Database collection of information that you organize and access according to the logical structure of the information Relational database series of logically related two dimensional tables or files for storing information Relation table file Primary key field or group of fields that uniquely describes each record Foreign key primary key of one file that appears in another file Database management system DBMS helps you specify the logical requirements for a database and access and use the information in a database 5 Components of a DBMS 1 DBMS engine 2 Data definition subsystem 3 Data manipulation subsystem 4 Application generation subsystem 5 Data administration subsystem Data warehouse collection of information from many places that supports business analysis activities and decision making The Tool Set of the Analytics Professional The Analytics Life Cycle Data Marts subset of a data warehouse in which only a focused portion of the data warehouse information is kept Information is a resource you must manage and organize to help the organization meet its goals and objectives You need to consider Strategic management support Sharing information with responsibility Information cleanliness Chapter 4 Analytics Decision Support and Artificial Intelligence Brainpower for Your Business DECISIONS AND DECISION SUPPORT Find or recognize the problem need or opportunity Consider ways of solving the problem Examine the merits of each solution and choose the best one Carry out the chosen solution and monitor the results Decision support system DSS a highly flexible and interactive system that is designed to support decision making when the problem is not structured Decision support systems help you analyze but you must know how to solve the problem and how to use the results of the analysis Geographic information system GIS DSS designed specifically to analyze spatial information Spatial information is any information in map form Businesses use GIS software to analyze information generate business intelligence and make decisions Predictive analytics highly computational data mining technology that uses information and business intelligence to build a predictive model for a given business application Insurance retail healthcare travel financial services CRM SCM credit scoring etc Text analytics uses statistical AI and linguistic technologies to convert textual information into structured information Gaylord Hotels uses text analytics to make sense of customer satisfaction surveys Types of Analytics Web analytics HR analytics Marketing analytics CRM analytics Social media analytics Mobile analytics Artificial intelligence the science of making machines imitate human thinking and behavior can replace human decision making in some instances Expert systems Neural networks and fuzzy logic Genetic algorithms Agent based technologies Expert knowledge based system an artificial intelligence system that applies reasoning capabilities to reach a conclusion Used for Diagnostic problems what s wrong Prescriptive problems what to do Neural network artificial neural network or ANN an artificial intelligence system that is capable of finding and differentiating patterns Fuzzy logic a mathematical method of handling imprecise or subjective information like short or tall Genetic algorithm an artificial intelligence system that mimics the evolutionary survival of the fittest process to generate increasingly better solutions to a problem Take millions of solutions and determines the optimal one Agent based technology software agent piece of software that acts on your behalf or on behalf of another piece of software performing tasks assigned to it Biomimicry Swarm Intelligence Biomimicry learning from ecosystems and adapting their characteristics to human and organizational situations Swarm collective intelligence the collective behavior of groups of simple agents that are capable of devising solutions to problems as they arise eventually learning to coherent global patterns Chapter 5 Electronic Commerce Strategies for the New Economy E commerce is changing everything Electronic commerce e commerce commerce but it is commerce accelerated and enhanced by IT Build powerful relationships with customers Build powerful relationships with suppliers Build powerful relationships with partners E COMMERCE BUSINESS MODELS B2B e commerce business sells products and services to customers who are primarily other businesses Where all the e commerce money is B2C e commerce business sells products and services to customers who are primarily individuals B2C is the glitzy e commerce like iTunes eBay etc UNDERSTAND YOUR BUSINESS PRODUCTS SERVICES CUSTOMERS To be successful you must Define your products and services Define your target customers o B2B other businesses o B2C individuals Define your customers perception of the value of your products and services B2C Convenience Versus Specialty Convenience vs specialty o Lower vs high priced o Frequency of purchase o Food items vs stereos and computers Commodity like and digital o Same no matter where you purchase it o Delivered over the Internet o Best product types for B2C e commerce B2B Horizontal Versus Vertical E Marketplaces Electronic marketplace e marketplace interactive business providing a central market where multiple buyers and sellers can engage in e commerce FIND CUSTOMERS AND ESTABLISH RELATIONSHIPS You must first find customers Then establish relationships Otherwise you can t make a sale B2C and B2B techniques are very different Business to Consumer Determine your marketing mix set of marketing tools your organization will use to pursue its marketing objectives in reaching and attracting potential customers o Search engines o Online ads o Viral marketing o Affiliate programs Business to Business Marketing Much more personal Not usually done with generic ads designed for mass distribution Often take place in e marketplaces MOVE MONEY EASILY SECURELY In e commerce security becomes very important B2C o Credit cards financial cybermediaries electronic checks EBPP smart cards B2B o Electronic data interchange EDI o Value added networks


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