Operational level - Answers Employee-developed control that maintains core business activities
required to run day-to-day activities; where day-to-day decisions and established processes
offer potential solutions
Structured Decisions - Answers Involves situations where an established process offers
potential solutions
Managerial level - Answers Employees are constantly evaluating company operations to hone
the firm's ability to adapt to and leverage change
Unstructured decisions - Answers Occurs in situation where no procedures or rules exist to
guide decision-making toward the correct choice
Transaction Processing System (TPS) - Answers The basic business system that serves
operational-level analysis in an organization
Source Documents - Answers Describes the original transaction record along with details that
state the purpose and amount spent; includes cash receipts. canceled checks, invoices,
customers, refunds, employee timesheets, etc.
Online Analytical Processing (OLAP) - Answers The manipulation of information to create
business intelligence to support strategic decision-making
Decision Support System (DSS) - Answers Model information using OLAP, which aids in
evaluating and choosing a different course of action
Sensitivity Analysis - Answers The study of the impact on other variables when one variable is
changed repeatedly
Neural Networks - Answers A form of artificial intelligence that attempts to emulate the way the
human brain works
Digital Dashboard - Answers Tracks key performance indicators (KPIs) and critical success
factors (CSF) from multiple sources that are tailored to fit needs
Executive Information System (EIS) - Answers Specialized DSS that supports senior-level
executives and delivers key information to top managers and leaders
Intelligent Systems - Answers Various commercial applications of artificial intelligence
genetic algorithms - Answers An AI system that mimics survival-of-the-fittest processes to
generate increasingly better solutions to a problem
shopping bot - Answers Software that will search several retailer websites and provide a
comparison to other retailers prices and stock
,Employee Relationship Management (ERM) - Answers It provides employees with employee
management functionality as a subset of the CRM. The applications are available through a web
browser.
What is a Customer Relationship Management (CRM) system? - Answers A CRM system
supports traditional transactional processing for day-to-day, front office operations that deal
directly with customers.
What does a CRM system allow a company to do? - Answers It allows a company to better
analyze and manage interactions with customers and companies that purchase the products.
What are some operational functions of a CRM system? - Answers Operational functions
include customer contact management, sales prospecting and identification, direct marketing,
and order management and fulfillment.
campaign management system - Answers Guides users through marketing campaigns by
performing such tasks as campaign definition planning, scheduling, segmentation, and
analyzing success
management information system (MIS) - Answers A set of systems and procedures that gather
data from a range of sources, compile it, and present it in a readable format that allows analysis
of complex relationships among thousands to billions of data items to discover patterns, trends,
and exceptions
sales force automation (SFA) - Answers Creates and maintains a digital path that tracks all
steps in the sales process
contact management (CMS) system - Answers Maintains customer contact information and
identifies prospective customers for future salse
opportunity management CRM systems - Answers Target sales opportunities by finding new
customers or companies for future sales
supplier relationship management (SRM) - Answers Focuses on keeping supplies stocked by
evaluating and categorizing suppliers for different projects, optimizing supplier selection
partner relationship management (PRM) - Answers Focuses on keeping vendors satisfied
manaing partners and reseller relationships, which provide customers with the optimal sales
channel
cloud computing - Answers Stores, manages, and processes data and applications over the
internet rather than on a personal computer or server
software as a service (SaaS) - Answers A method of software delivery and licensing where
software is accessed online via a subscription rather than bought and installed on individual
computers. The software provider manages all aspects of ensuring the software is operational.
, Ex. Google Docs
enterprise resource planning (ERP) system - Answers A series of software applications bundled
into one system that serves as an organization's backbone in providing fundamental decision-
making support and information
business model - Answers A plan that details how a company creates, delivers, and generates
revenue
hybrid ERP - Answers Splits the ERP functions between an on-premise ERP system and one or
more functions handled as softward as a service in the cloud
extended ERP - Answers The extra components, which focus on external operations, that meet
the need compononents not covered by the core components
human resources (ERP component - human resource management system [HRMS]) - Answers
Tracks employee information, including payroll benefits, compensation, and performance
assessment; ensures compliance with the legal requirements of multiple jurisdictions and tax
authorities; helps manage the personnel needs of the business, develop employees, and control
all personnel policies and programs
business-to-business (B2B) - Answers Applies to a business that buys and sells with one or
more organizations over the internet
business-to-consumer (B2C) - Answers Applies to any business that sells its products or
services to consumers over the internet
contact management system - Answers Helps companies manage the creation, storage, editing,
and publication of their website content
knowledge management (KM) - Answers Involves capturing, classifying, evaluating, retrieving,
and sharing informatio assets in a way that provides context for effective decisions and actions
folksonomy - Answers Crowdsourcing that determines the tags or keyword-based classification
of online content
knowledge management system (KMS) - Answers Supports the capturing, organization, and
dissemination of knowledge (i.e. know-how) throughout an organization
real simple syndication (RSS) - Answers A web format used to publish frequently updated works
such as blogs, news headlines, audio, and video files in a standardized format
network effect - Answers Describes how products in a network increase in value in proportion to
the number of users
native advertising - Answers An online marketing concept in which the advertiser attempts to
gain attention by providing content in the context of the user's experience