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oMachine learningInformation systems are considered strategic when they provide a competitive advantageEffective vs EfficientoEffective – High qualityoEfficient – Low costInformation systems’ vital role in three areas of business processes:oExecuting the processInforming employees when it is time to complete a taskProviding required dataProviding a means to complete the taskoCapturing and Storing Process DataProcesses generate dataIS’s capture and store process dataCapturing and storing data provides immediate feedbackoMonitoring Process PerformanceIS evaluates information to determine how well a process is being executedEvaluations occur at two levelsInstance level – Status of a purchase; order historyProcess level – How’s the process doingMonitoring identifies problems for process improvementBusiness Process Reengineering(BPR) – A radical redesign of an organization’s business processes to increase productivity and profitability Business Process Improvement(BPI) – An incremental approach to move an organization towards business process centered operationsGlobalization– The integration and interdependence of economic, social, cultural, and ecological facets of life, made possible by rapid advances in IT“The World is Flat” by Thomas FriedmanoTechnology is leveling global competition making the world “flat”
Friedman’s Three Eras of GlobalizationoGlobalization 1.0 – CountriesoGlobalization 2.0 – CompaniesoGlobalization 3.0 – Individuals and GroupsLECTURE 53D References – columns, rows, and worksheets are the three dimensionso‘Quarter 1’!D6*(1+$B$50)Worksheet nameCell address in Quarter 1 sheetCell address in the current sheetA 3D reference can refer to the same cell address in multiple sheets in a single formulaoSUM(‘Quarter1:Quarter4’!E6)The range of worksheets to use in the computation: Q1 to Q4The common cell address from all of the sheetsLECUTRE 6Formula AuditingoTrace Precedents (Direct) oTrace Precedents (Indirect) oTrace Dependents
oShow FormulasCollaborative Consumptionand Sharing Economy– Terms used to describe the appearance of new marketplaces where excess capacity in goods and services can be shared efficiently using information technologyoGood Quality Information– The premise for the success of all marketplacesLECTURE 7