Exam 1 Study Notes

Exam 1 Study Notes - Chapter 1: MIS and You o What is MIS?...

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Chapter 1: MIS and You o What is MIS? The development and use of info that help business achieve goals Components of an IS System - A group of components that interact to achieve some purpose IS – a group of components that interact to produce info Five fundamental components of an IS o Computer hardware o Software o Data o Procedures o People Development and use of IS’s Its important to have an active role in the formation of your IS Achieving business goals and objectives The most important component of achieving business goals and objective is people You must look at the IS only through the lens of the business needs o What should you learn from this Class? o Using the five component framework The most important Component – YOU High Tech vs. Low Tech IS’s Understanding New Information Systems o Information Characteristics Information is knowledge derived from data Data put into a meaningful context Data is recorded facts or figures
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Information is subjective What is data to you may not be data to someone else Characteristics of good information Accurate Timely Relevant Just Barley Sufficient o When your receiving a lot of information you must know what to ignore and what is most important Worth its Cost o IT vs. IS Information Technology refers to the products, methods, inventions, and standards that are used for the purpose of producing information drives the development of new IS systems Information System is an assembly of hardware, software, data, procedures, and people to produce information Moore’s Law - The number of transistors per square inch doubles every 18 months,” proven accurate over the last 40 years Chapter 2: Purposes of Information Systems o Information systems for competitive advantage Competitive Advantage – gaining an edge over businesses that seek the same customers Eight principles in which companies can create competitive advantage o Create a new product or service o Enhance products or services o Differentiate products or services o Lock in customers and buyers
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o Lock in suppliers o Raise barriers to market entry o Establish alliances o Reduce costs Information system that creates a competitive advantage How this system creates a competitive advantage o Information Systems or problem solving A Laptop Problem Your laptop has a problem in which you have to call the company help line. You have the problem fixed but it reoccurs a few days later. You call once again and someone who has no idea you called before gives you the same solution. Once again it breaks a few days later. Problem Definition
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This note was uploaded on 03/19/2008 for the course ACIS 1504 taught by Professor Jmlacoste during the Spring '07 term at Virginia Tech.

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Exam 1 Study Notes - Chapter 1: MIS and You o What is MIS?...

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