– A field concerned with the use of technology in managing & processing information. – The business function and academic discipline covering the application of people, technologies, and procedures to solve business problems.
– Raw facts that describe the characteristic of an event. – Data converted into a meaningful and useful context. – Applications and technologies that are used to gather, provide access to, and analyze data and information to support decision-making efforts.
Data features, such as auto filter, turn data into .
Advanced analytical tools, such as Pivot Tables, uncover in the data. Eg. Best customer, worst customer, best sales representative’s best selling product.
IT cultures ; ; ; .
Four major types of business information systems
CIO management priorities (Top 10)
The gap between business personnel and IT personnel and improvements
Business personnel expertise in and IT personnel expertise in .
So, business personnel should increase and IT personnel should increase .
It is the responsibility of to ensure effective communication between business personnel and IT personnel.
Skills pivotal for Success in Executive IT Roles (6)
PPT1-4-22&23&24; 1-5-25&26 P23 – Measures that are tied to business drivers. – are detailed measures that feed KPIs.
Performance metrics fall into the area of business intelligence that is technology, business centered, but requires input from both IT and business professionals.
Efficiency IT metric – measures the of the IT system, focus is on technology and includes:
Effectiveness IT metric –measures the IT has on business processes, focus is on an organization’s goals, strategies & objectives, including: ; ; ; . – Baseline values the system seeks to attain. – A process of continuously measuring system results, comparing results (benchmark values), and identifying improvements.
It is for an organization to implement Internet security, since it slows down processing, however, to be it must implement Internet security.
– A product or service that an organization’s customers place a greater value on than similar offerings from a competitor. – occurs when an organization can significantly impact its market share by being first to market with a competitive advantage.
Organizations watch their competition through .
Three common tools used in industry to analyze and develop competitive advantages include: ; ; .
Porter’s Five Forces Model determines the relative of an industry: ; ; ; ; .
Buyer power: When buyers have many choices of whom to buy from and When their choices are few.
One way to reduce buyer power is through programs. – rewards customers based on the amount of business they do with a particular organization.
Supplier power: When one supplier has a concentrated power over an industry, buyers have few choices of whom to buy from. When their choices are many.
All parties involved in the procurement of a product or raw material are links in the . The power is often with the .
Threat of substitute products or services: When there are many alternatives to a product or service When there are few alternatives. – Costs (not always financial) that can make customers reluctant to switch.