MIS Class Notes

MIS Class Notes - MIS Class Notes What is Information?...

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MIS Class Notes What is Information? Knowledge derived from data Processed or aggregated data Data presented in a meaningful context “a difference that makes a difference” Information is in the eye of the decision maker. Must be useful to the decision maker Good information is one that doesn’t require further processing o Time Timeliness- Provided at the time needed Frequency- Get as often as needed Currency- Time Period- Needs to have a time frame o Content Accuracy Completeness Conciseness- get rid of superfluous data Relevance o Form Clarity- Easy to understand Detail- Appropriate details Order- Alphabetically, chronologically, etc. Presentation- Media- what medium do you use? Paper, website, etc. Information Literacy Define what information is needed Know how and where to obtain information Understand meaning of information Act appropriately based on information Use information legally and ethically Misdirected Information What system of moral principles governs conduct for business professionals? o Ethical Behavior o Corporate Policy o Laws Ethical and legal are not synonymous
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Establish your personal policy about dealing with information that is misdirected to you IT vs. IS Information Technology = products and standards (just single products) Information System = collection of hardware, software, data, procedures and people that produces information File Management Organizing files so you can find and use them more efficiently Create folders Name files properly File Characteristics Name Dates Size Type or Extension Competitive Advantage Create a new product or service Enhance products or services Differentiate products or services Lock in customers and buyers. Ex: Switching Costs Lock in suppliers AKA supply chain management Raise barriers to market entry. Discourage other people to joining your industry. Use economies of scale- the bigger you are, the more and cheaper everything. Ex: Walmart. Value added service also keeps out other competitors. Ex: ATM Service. Establish alliances. Ex: Coke and telecommunications company. Can call in to buy a soda from a vending machine. Reduce costs Problem A perceived difference between what is and what ought to be A good problem definition describes the current situation and the desired situation Problem Solving Define problem from all perspectives Agree on problem definition Set scope of project Decision Making
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Intelligence Gathering- gather facts and figures about customers and such. Alternative Formulation Choice Implementation- Review Decision Level Bottom of the pyramid- Operational- Decisions made on a daily basis. what to wear, etc. Middle of the pyramid- Managerial- decisions we make today that may affect us
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This note was uploaded on 03/30/2008 for the course ACIS 1504 taught by Professor Jmlacoste during the Fall '07 term at Virginia Tech.

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MIS Class Notes - MIS Class Notes What is Information?...

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