Miami University ISA 235 Final 170 questions with complete solution graded A+

Internet of things - A world where interconnected, internet-enabled devices or "things" can collect and share data without human intervention. Value Chain: Primary Vs. Support - Views a firm as a series of business processes that each add value. Primary: The firm acquiring raw materials, manufacturing, delivering, marketing and selling. Support: Actual firm infrastructure such as HR, Management, Tech. Dept. Data - Raw facts that describe the characteristics of an event or object Information - Data converted into meaningful and useful context Metrics - Measurements that evaluate results to determine whether a project is meeting its goals BI - Information collected from multiple sources such as suppliers, customers, competitors, partners, and industries that analyze patterns, trends, and relationships for strategic decision making Analytics - The science of fact based decision making Knowledge - Skills, experience, and expertise coupled with information and intelligence that creates a person's intellectual resources System - a collection of parts that link to achieve a common purpose Systems Thinking - A way of monitoring the entire system by viewing multiple inputs being processes or transformed to produce outputs while continuously gathering feedback on each part Porters 5 forces - Evaluates 5 forces: Buyer, Supplier, Threat of New Entrants, Substitute Products/Services, and RivalryPorters 3 generic strategies - Generic business strategies that are neither organziation nor industry specific and can be applied to an business, product, or service