Management Info Systems
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What are digital systems?
Process and store any information digitally as combination of 0 and 1. i.e. computers
What is the purpose of information systems?
to gather correct information efficiently, store information, and use information.
businesses use them to make decisions and solve problems.
What is data?
the raw material in the production of information
- - raw data is hard to read
- - are facts such as statement, number, and picture
What is information?
it's composed of data which is manipulated
it is facts or conclusions that have meaning within context
more useful to business than data
What is data manipulation?
processing of data by information systems to make useful information
information is useful when it is...
- obtained in a cost-effective manner
what is an information system?
system with one or more computers at center.
consists of telecommunications, data, hardware, software, people, and procedures
what are the types of information systems?
- management information system (mis)
- transaction processing system (TPS)
- supply chain management system (SCM)
- customer relationship management systems (CRM)
- expert system (es)
- business intelligence systems (bi)
- decision support system (dss)
- geographic infromation system (gis)
What are some careers in information systems?
- help desk tech
- network admin
- system admin
- database admin
- system analyst
- software engineering
- chief security officer
- chief information officer/ chief technology officer
what are the ways to gain competitive advantage?
- 1. reduce costs
- 2. raise barriers to marker entrants
- 3. establish high switching costs
- 4. create new products or services
- 5. differentiate products or services
- 6. enhance products or services
- 7. establish alliances
- 8. lock in suppliers or buyers
what is the benefit of reducing costs?
gain advantage if it can sell more units at a lower price whil providing quality and maintaining or increasing its profit margin
what is the benefit to raising barriers to market entrants?
deter potential entrants into the market, enjoying less competition and more market potential.
what is the benefit to establishing high switching costs?
creating high switching costs, making it economically infeasible for customers to buy from competitors
what is the benefit of creating new products or services?
offering a unique product or service
what is the benefit of differentiating procuts or services?
attract customers by convincing them its product differs from the competitions
what is the benefit of enhancing products or services?
product or service is better than anyone else's.
what is the benefit of establishing alliances?
companies from different industries can help each other gain advantage by offering combined packages of goods or services at special prices.
what is the benefit of locking in suppliers or buyers?
can lock in either suppliers or buyers, making it economically impractical for suppliers or buyers to deal with competitors
what does a binary counting system consist of?
only 0s and 1s
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