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- What are the 1. Ensuring security and compliance - Companies can't function without secure three key areas in and dependable access to data. which IT depart- 2. Increasing eflciency and productivity - Makes business more eflcient by opti- ments need to be mizing systems. Streamlining workflows, and making jobs easier. aligned with busi- 3. Gaining competitive advantage - IT must collaborate with business to leverage ness needs? emerging technology.
- Business value in- 1. Increase revenue - The IT organization can be instrumental in helping a company cludes what spe- cific things?
- What does the bottom line mean?
- What should IT managers think about when rec- ommending IT projects?
- Why have IT projects general-
achieve more revenue through innovation.
- Decrease cost - IT is the only department that can help every other department of a company reduce cost or improve productivity.
- Improve productivity - IT is often the facilitator to improve productivity by eliminating paper and implementing video conferencing to improve meeting and training time.
- Ditterentiate the company - Technology can often ditterentiate a company from its competition. Companies can then become more competitive and create an advantage in selling its products and services.
- Improve client satisfaction - It is much more profitable to keep a client than it is to replace a client you lose. Major source of revenue comes from existing clients.
It's all about the business, not about the technology (manage technology Vs. managing the business of IT).
Does the recommendation provide business value? - When IT managers make recommendations that deliver business value, senior management sees the IT team as a business partner rather than technical managers.
ly failed over the years?
- Investments in "digital" can be
When IT projects fail, it is usually not because the technology didn't work, but because the changes required at an organizational and employee level weren't managed ettectively.
Investments in digital are essentially investments in change. It's important to think in this way because these investment changes in an organization help generate thought of essen- insight. tially as invest- ments in what?
- What is one tool the article sug-
The Benefits Dependency Network(BDN). This tool seeks to get managers to iden- tify the digital technology changes that they will be required to make, if expected gests will help im- benefits and outcomes are going to be delivered. prove the likeli- hood of IT project success?
- What is The Ex- change Transac- tion?
- What are the three business units in The Ex- change Transac- tion?
- What are three uncertainties the creation process specifically in- volves?
The Base Unit for doing Business (The underlying structure of the socioeconomic world).
Creating Entity -> The Work ->Others->
- Firms
- Industries
- Economies
- Informational uncertainty(IU) - No perfect information...e.g., ERP, CRM (a con- cept termed bounded rationality).
- Relational uncertainty(RelU) - Opportunistic behaviors amongst actors...e.g., buyer/seller ratings, online reviews (a concept termed opportunism).
gorized as tech- nology?
- What is network- ing/cloud com- puting?
- What are the two main cate- gories of soft- ware? What do each do and how are they differ- ent?
- What are the salient points about the role of information sys- tems from the "PC Revolution" to the present
Increasing IT infrastructure (hardware & software) is delivered as a service via the Internet, termed Cloud Computing.
Operating Systems & Application Software- The Operating System provides the interface between the hardware and the application software while the Application Software allows the user to perform tasks.
- The PC Revolution - sparked the imagination of entrepreneurs asimprovements in usability and the availability of practical software led to growing sales.
- Client-Server - businesses began to connect their computers as a way to collab- orate and share resources.This networking architecture allowed users to log in to the local area networks from their PC by connecting to a central computer called a server (rise of e-mail).
- Internet/E-Commerce - The computer evolved from a purely computational day ("The Post-PC device into a world of digital communications. The world became truly "wired"
World, Sort of")? heading into the new millennium, ushering in the era of globalization as virtually all companies connected to the Internet.
- Web 2.0 - Websites became interactive. Instead of just visiting a site to find out about a business and then purchase its products, customers wanted to be able to customize their experience and interact online with the business.
- The Post-PC World - Computer sales have dropped while smartphone sales have accelerated, due largely to their mobility and ease of operation New innovative technologies like cloud computing are changing how we use IT.
How did Walmart use information technology com- petitively?
Walmart's competitive rise to prominence is due in large part to making informa- tion systems a high priority, especially in their Supply Chain Management (SCM).
- What is the differ- IT consists of Products, Methods, Inventions, & Standards (IT components = Hard- ence between IT & IS and purpose of IS?
ware + Software + Data). IT drives development of new IS.
IS consists of Hardware, Software, Data, Procedures, & People (IS = IT + Procedures
- People). Exist to help people achieve business strategies.
- What is Data? Facts with symbolic structure adhered to them.
- What is the dis- tinction between Data, Informa- tion, & Knowl- edge?
- How is data rep- resented in com- puter hardware?
- What is a data- base?
- What is a rela- tional database?
- Data = facts + symbols.
- Information = data + meaning.
- Knowledge = information + application.
Represented by using a Bit, short for "binary digit" (An integer in the range from 0 to 1) Through the use of a Kilobyte (KB), Megabyte (MB), Gigabyte (GB), Terabyte (TB), Petabyte(PB), Exabyte(EB), Zettabyte(ZB).
A database can be viewed as a repository of data (representing real-world things) that that has a defined structure and can be accessed by various users.
A type of database that stores data in relations. Each relation is composed of rows. Usually has multiple tables, and each table contains data about a ditterent type of thing. Each row of a table has data about a particular occurrence or instance of a thing of interest. Each column of a table stores a characteristic or attributes common to all rows.
- To help track things of interest in the phenomenal (real) world.
What are some of the benefits of ERP systems?
- What are key fea- tures of ERP sys- tems?
ERP improves business performance in several ways. Specifically, they enable internal eflciency, promote better decision-making, create increased agility, and enhance security.
Features include an ability of enterprise-wide integration, real time (or near real time) operations, a common database, and consistent look and feel.
- What are some of The four factors that are commonly underestimated during project planning in- the hidden costs clude a change in the business process, change in organization management, data of ERP implemen- migration, and custom code. tations?
- Why might ERP projects fail?
The most common cause is an inettective executive sponsor.Other ways to fail include poorly defined program goals, weak project management, inadequate resources, and poor data cleanup.
- What is CRM in its A way to manage leads, people interested in your business and your existing "simplest form"?
- What is the goal of CRM?
- What ways can a company can benefit from CRM?
- "CMR is not a , but a ."
customers, in the most eflcient way possible to extract the most value.
To improve business relationships with customers through retention and acquisi- tion.
Five ways companies can benefit from CRM is through better data organization, enhanced communication, shared information, ability to catch all leads, and better organization of numbers (Survey: 67% of users; helped with opportunities and leads while. 56% of users; saw improved customer relationships).
Tactic, Strategy
What are some common busi- ness problems that a CRM can help to solve?
- What is CRM and CRM software?
- CRM is "equal parts strategy and technology," and that it "is about using
Can help manage not only business contacts but vendor relationships, internal sales activities, and marketing teams.
A process companies use to understand their customer groups and respond quickly, and at times instantly, to shifting customer desires.CRM software is used to link up information about customers from a variety of sources for marketing and advertising ettorts. CRM data flows between operational systems (like sales and inventory systems) and analytical systems that sort through CRM data for patterns.
data to understand your customers—and boost sales
- What is "one of the most impor- tant things to keep in mind about a CRM sys- tem"?
- In what ways can an effec- tive CRM strate- gy help a busi- ness increase rev- enues?
It's ultimately less important than the data you put into it. CRM is a philosophy and set of practices for recording data about customer interactions, not just a software package you buy.
By providing services and products that are exactly what your customers want, ottering better customer service, cross selling products more ettectively, helping sales statt close deals faster, retaining existing customers and discovering new ones.
- What are some
- Delivering - involves coordinating customer orders, scheduling delivery, dis- patching loads, invoicing customers, and receiving payments.
- Returning - The supplier needs a responsive and flexible network to take back defective, excess, or unwanted products.
- Enabling - the supply chain requires a number of support processes to monitor information throughout the supply chain and assure compliance with all regula- tions
It enables the ability to identify potential problems before they occur, optimize price reasons as to why dynamically, and improve the allocation of available to promise inventory. SCM is impor- tant?
- What are some Becoming tech fluent, get ready for lifelong learnings, accept change as the new steps and skills to normal, and hone your unique human skills. future-proof your career?
- What is the In- ternet of Things (IoT)?
- What is the brief history of IoT, and what tech- nologies helped to bring about IoT as we know it today?
Refers to the billions of physical devices around the world that are now con- nected to the internet, all collecting and sharing data. Any physical object can be transformed into an IoT device if it can be connected to the internet to be controlled or communicate information (E.g., smartwatch, fitness band; not a PC or smartphone).
The idea of adding sensors and intelligence to basic objects was discussed throughout the 1980s and 1990s but progress was slow because technology wasn't ready. The adoption of RFID tags, low-power chips that can communicate wirelessly, solved some of this issue, along with the increasing availability of broadband internet and cellular and wireless networking.
How is IoT rele- vant in Big Data Analytics?
- How is IoT rele- vant in Data Pri- vacy?
- How is IoT rele- vant in Security?
The IoT generates vast amounts of data: from sensors attached to machine parts or environment sensors, or the words we shout at our smart speakers. That means the IoT is a significant driver of big-data analytics projects because it allows companies to create vast data sets and analyze them.
What happens to IoT data is a vitally important privacy matter. Not all smart home companies build their business model around harvesting and selling your data, but some do.
IoT can be used in security systems however, they are one the biggest issues with the IoT. These sensors are collecting in many cases extremely sensitive data, what you say and do in your own home.
- How does IoT cre- IoT allows you to monitor your assets and track these high-value assets. ate value?
- How can you im- prove your rela- tionship with mo- bile technology?
- What are some emerging tech- nologies and their impact?
- How is value created within mobile technolo- gies?
Reframe the way you think about your device, ask yourself what you want to pay attention to, set yourself up for success, and practice trial separation.
Facial recognition and artificial intelligence are two of the biggest technologies on the rise. Both have an ability to transform the way technology is used in today's world.
What users value in mobility is speed and quality.
