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Chapter 4 IT for Decision Support Agent based technology software agent small piece of software that acts on your behalf performing tasks assigned to it Works like movie star agent working for actor o Autonomous agent can adapt and alter the manner in which it attempts to achieve its assigned task o Distributed agent works on multiple distinct computer systems o Mobile agent can relocate itself onto different computer systems o Intelligent agent incorporates artificial intelligence capabilities such as learning and reasoning o Data mining agent operates in a data warehouse discovering information o Information agents search for info of some kind and bring it back buyer agents shopping agents o Monitoring and surveillance agents constantly observe and report on some entity of interest a network or manufacturing equipment o User agents personal agents take action on your behalf spam folder on email o Multi agent system group that have ability to work independently but must also work with each other in order to achieve their assigned task Artificial intelligence AI science of making machines imitate human thinking and behavior o Expert system knowledge based systems applies reasoning capabilities to reach a conclusion Good for diagnostic and prescriptive problems o Neural network artificial neural network capable of finding and differentiating patterns Learns by example and can adapt to new concepts and knowledge o Fuzzy logic mathematical method of handling imprecise or subjective information o Genetic algorithm mimics the evolutionary survival of the fittest process to generate increasingly better solutions to a problem an optimizing system o Agent based technology see above Decision support system DSS designed to support decision making when the situation includes nonstructural elements o Data management performs the functions of storing and maintain information and also that of giving you access to information you want your DSS to use o Model management consists of a wide variety of statistical and analytical tools techniques and models Geographic information systems decision support system designed specifically to analyze spatial information info in map form Implementation apply the fix Carry out the chosen solution monitor the results and make adjustments as necessary Knowledge management system system that supports the capturing organization and dissemination of knowledge throughout an organization Predictive analytics Highly computational data mining technology that uses information and business intelligence to build a predictive model for a given business application Uses historical information to predict future outcomes Swarm collective intelligence the collective behavior of groups of simple agents that are capable of devising solutions to problems as they arise eventually leading to coherent global patterns Structured decision involves processing a certain kind of information in a specified way so that you will always get the right answer Recurring decision one that happens repeatedly and often periodically Chapter 5 Ecommerce E commerce commerce accelerated and enhanced by IT in particular the internet B2B Business to Business when a business sells products and services to customers who are primarily other businesses o Indirect materials maintenance repair and operations MRO materials materials that are necessary for running a modern corporation but do not relate to the company s primary business activities repair parts pens lubricating oils o Direct materials materials that are used in production in a manufacturing company or are placed on the shelf for sale in a retail environment used for primary business activities o Reverse auction buyer posts its interest in buying a certain quantity of items with notations concerning quality specification and delivery timing and sellers compete for business by submitting successfully lower bids until there is only one seller left o E Markets EM interactive business providing a central market space where multiple buyers and suppliers can engage in e commerce and or other e commerce business activities o Horizontal e marketplace connects buyers and sellers across many industries primarily for MRO materials commerce o Vertical e marketplace connects buyers and sellers in a given industry B2B e marketplace virtual marketplaces in which businesses buy from and sell products to each other share information and perform other important activities B2C Business to Consumer when a business sells products and services to customers who are primarily individuals o Commodity like merchandise that is the same regardless of where it is purchased books o Convenience goods low priced but frequently needed items cereal o Specialty higher priced less frequently needed often require customization computer o Mass customization ability of an organization to give its customers the opportunity to tailor its product or service to the customer s specifications B2G Business to Government when a business sells products and services to a government entity C2C Consumer to Consumer when an individual sells products and services to another individual eBay businesses G2B Government to Business when a government entity sells products and services to G2C Government to Consumer refers to the electronic commerce activities performed between a government and its citizens or consumers Adware software to generate ads that installs itself on your computer when you download some other usually free program from the web o Banner ads online ads small advertisements that appear on other sites o Click through count of the number of people who visit one site click on an ad and are taken to the site of the advertiser o Pop under ad pop up you do not see until after you close your current browser window o Conversion rate percentage of potential customers who visit your site who actually buy something o Viral marketing encourages users of a product or service supplied by a B2C e commerce business to encourage friends to join as well E Payments paying for any e commerce through an online system o Digital wallet software provides security for the transaction and the information includes payment information and delivery information o Smart card plastic card size of a credit card that contains an embedded chip on which digital o Cybermediary internet based company that makes it easy for one person to pay another person Mobile commerce M commerce electronic commerce conducted over a

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FSU ISM 3003 - Chapter 4 - IT for Decision Support

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