INFS 247 FINAL EXAM QUANE LOYOLA CHICAGO STUDY GUIDE QUESTIONS AND ANSWERS
2026/2027 | COMPLETE EXAM REVIEW
Data - ANS ✔✔Facts that are recorded and can be accessed
Information - ANS ✔✔Refers to the data that is accessed by a user for some particular purpose
Information System (IS) - ANS ✔✔A computer based system that collects, stores, and
manipulates data
data; need - ANS ✔✔Information is simply the _____ that we _____
People, information, information technology - ANS ✔✔The three components of IS in order of
priority
Hardware - ANS ✔✔Resources including individual computers, servers, printers, etc.
System software - ANS ✔✔Enables the proper functioning of hardware
Operating system - ANS ✔✔Principle system software, supports computers basic functions
Application software - ANS ✔✔Software tools used by employees to access, use, and present
the information they require and perform their tasks
IS team (IT professionals) and users (business users) - ANS ✔✔Two categories of people
resources
, Database, DBMS (database management system), front-end applications - ANS ✔✔Three main
components of an information system
DBMS and database - ANS ✔✔What component(s) of an IS make up the back end?
Front-end applications - ANS ✔✔What component(s) of an IS make up the front end?
Core roles of IS - ANS ✔✔Data/information storage, facilitating business processes, and
data/information analysis and decision support are the three what?
Competitive advantage - ANS ✔✔An advantage that a company has over its competitors
First mover advantage - ANS ✔✔When a company gains a competitive advantage by being the
initial creator of a certain feature, product, or service
Porter's Five Forces - ANS ✔✔A framework for analyzing the level of competition within an
industry
Power of buyers - ANS ✔✔The ability of suppliers to influence the prices
Power of suppliers - ANS ✔✔The ability of suppliers to influence the prices
Threat of new entrants - ANS ✔✔The threat that new competitors pose to incumbents in an
industry
Threat of substitutes - ANS ✔✔The threat that an alternative product/service may offer similar
benefits to the consumer as the existing ones provided by the incumbents of the industry
2026/2027 | COMPLETE EXAM REVIEW
Data - ANS ✔✔Facts that are recorded and can be accessed
Information - ANS ✔✔Refers to the data that is accessed by a user for some particular purpose
Information System (IS) - ANS ✔✔A computer based system that collects, stores, and
manipulates data
data; need - ANS ✔✔Information is simply the _____ that we _____
People, information, information technology - ANS ✔✔The three components of IS in order of
priority
Hardware - ANS ✔✔Resources including individual computers, servers, printers, etc.
System software - ANS ✔✔Enables the proper functioning of hardware
Operating system - ANS ✔✔Principle system software, supports computers basic functions
Application software - ANS ✔✔Software tools used by employees to access, use, and present
the information they require and perform their tasks
IS team (IT professionals) and users (business users) - ANS ✔✔Two categories of people
resources
, Database, DBMS (database management system), front-end applications - ANS ✔✔Three main
components of an information system
DBMS and database - ANS ✔✔What component(s) of an IS make up the back end?
Front-end applications - ANS ✔✔What component(s) of an IS make up the front end?
Core roles of IS - ANS ✔✔Data/information storage, facilitating business processes, and
data/information analysis and decision support are the three what?
Competitive advantage - ANS ✔✔An advantage that a company has over its competitors
First mover advantage - ANS ✔✔When a company gains a competitive advantage by being the
initial creator of a certain feature, product, or service
Porter's Five Forces - ANS ✔✔A framework for analyzing the level of competition within an
industry
Power of buyers - ANS ✔✔The ability of suppliers to influence the prices
Power of suppliers - ANS ✔✔The ability of suppliers to influence the prices
Threat of new entrants - ANS ✔✔The threat that new competitors pose to incumbents in an
industry
Threat of substitutes - ANS ✔✔The threat that an alternative product/service may offer similar
benefits to the consumer as the existing ones provided by the incumbents of the industry
