MGM 4 - Information Technology notes

MGM 4 - Information Technology notes - 4. data mining...

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Sheet1 Page 1 MGM 4 - technology and knowledge (more of INTERNAL WITHIN THE BUSINESS) 1. 3 phases of technology: a. business tech --> use of computers are rare but starting b. IT --> internet arrived - software increases effectiveness c. knowledge tech --> use of computers and tecnology are fundamentals for business to use technology to increase knowledge (technology becomes a source of knowledge) 2. infoglut --> caused by technology? why? a. too much data is stored at low cost so it is okay to store as much data as you can b. softwares is used to dissect only important data needed b y managers 3. key of success for business in managing data: b. mobility of workers --> mobilize workers by giving them web based mobile devices
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Unformatted text preview: 4. data mining softwares: revealas patterns that are not known previously--> i.e correlation between the purchase of beers and diapers in u.s walmart 5. how airmiles attract customers? --> give points to credit card users in return for creativities--> attract credit card users so that they can build up consumer models (buying behaviour of customers). In the end, airmiles will sell this information which is solely based on data mining to a firm which values this data. 6. online meeting rooms--> reduce cost of sending representatives to meet business partners\ 7. telecommuting --> working from home a. advantage: less distraction, more effective b. disadvantage: no social bond Sheet1 Page 2 all workers/ employees are expected...
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This note was uploaded on 04/25/2010 for the course MANAGEMENT MGM 100 taught by Professor Appleyard during the Fall '10 term at University of Toronto- Toronto.

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MGM 4 - Information Technology notes - 4. data mining...

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