IT final review - 6 Disruptive technology(C12 Disruptive at...

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6. Disruptive technology (C12) Disruptive at two levels: 1. Product level: new technology is superior to older technology for example floppy disk replaced flash drive 2. Business model level : when new technology is superior older technology causes the existing business model to no longer be compatible with the new technology. Example: TiVo and Hulu disrupts Netflix which disrupts Blockbuster Innovator’s dilemma : why can’t incumbent firms adjust to new technology? It’s hard for incumbent’s to adjust to new technology because they are so close to customer can’t see where the future of the technology is going. Customers don’t expect/want the next big thing until its already made. For example: Apple is always making new generation iPods and can easily be taken over by a smaller firm which has a totally out of the box idea. See graphs: 7. Decision Making (C13) 1. Rational ways of thinking a) Expected value- Probability * Expected Utility b) Decision tree- using a tree to figure out the probability c) Value of information- expected profit w/ info- expected cost w/o info People are not rational- a) Loss aversion- people make decision to avoid loses rather than acquiring gains b) Mental accounting- we treat $7 at a much higher saving in a relation to a smaller/lower buying price than compared to a higher buying price. c) Remembered utility- you remember the last utility and not the total utility 8. Database Access: Companies run ineffectively because they don’t have ability to accurately track customers identify valuable customers, market to nonexistent customers, track revenues which all leads to weak customer relations. Database: collection of tables, each table is on entity of your business (example: transaction database includes customer table, item table, order table and distributor table) Table: a collection of rows (records) ex: customer table, order table, item table Record: a collection of fields that describe an instance of an entity ex: customer table Field: attributes of an entity Access organizes data into many different databases but the tables must be linked together by relationship. The link is called common data elements ; tables must share a common field
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Primary Key: is an attribute, or group of attributes that uniquely identifies a row (Record) in a relation. EVERY RECORD MUST HAVE A PRIMARY KEY: OFTEN NUMERIC, NO NULL VALUE For example in a database with customer information the primary key would be a customer number because each customer has a unique number that identifies them.
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