Miami University ISA 235 Final Exam Questions With Verified Answers

Miami University ISA 235 Final Exam Questions With Verified Answers Internet of things - answerA world where interconnected, internet-enabled devices or "things" can collect and share data without human intervention. Value Chain: Primary Vs. Support - answerViews 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 - answerRaw facts that describe the characteristics of an event or object Information - answerData converted into meaningful and useful context Metrics - answerMeasurements that evaluate results to determine whether a project is meeting its goals BI - answerInformation collected from multiple sources such as suppliers, customers, competitors, partners, and industries that analyze patterns, trends, and relationships for strategic decision making Analytics - answerThe science of fact based decision making Knowledge - answerSkills, experience, and expertise coupled with information and intelligence that creates a person's intellectual resources System - answera collection of parts that link to achieve a common purpose Systems Thinking - answerA 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 - answerEvaluates 5 forces: Buyer, Supplier, Threat of New Entrants, Substitute Products/Services, and Rivalry Porters 3 generic strategies - answerGeneric business strategies that are neither organziation nor industry specific and can be applied to an business, product, or service CIO - answerResponsible for (1) overseas all uses of MIS and (2) ensuring that MIS strategically aligns with business goals and objectives SWOT - answerEvaluates Strengths (inside), Weaknesses (inside), Opportunities (outside), and Threats (outside) Model - answerA simplified representation of reality Transactional Info - answerEncompasses all of the info contained within a single business process or unit of work and its purpose is to support the daily operations or structured decisions Analytical Info - answerEncompasses all organization information and its primary purpose is to support the performing of managerial analysis or semistructured decisions Business Process - answerStandardized set of activities that accomplish a specific task Ganularity - answerRefers to the level of detail in the model or the decision making process Visualization - answerProduces graphical displays of patterns and complex relationships in large amounts of data Artificial Intelligence - answerSimulates human thinking and behavior such as the ability to reason and learn Decision Support System (DSS) - answerModel Information using OLAP, which provides assistance in evaluating and choosing among different courses of action Online Analytical Processing (OLAP) - answerThe manipulation of information to create BI in support of strategic decision making Executive information System (EIS) - answerA specialized DSS that supports senior-level executives BPMN - answerBusiness Process Model and Notation: a graphical notation that depicts the steps in a business process Business process Reengineering - answerThe analysis and redesign of workflow within and between enterprises Best Practices - answerThe most successful solutions or problem-solving methods that have been developed by a specific organization or industry Disruptive Technology - answerA new way of doing things that initially does not meet the needs of existing users Sustaining Technology - answerProduces an implied product customers are eager to buy Internet - answerA massive network that connects computers all over the world and allows them to communicate with eachother