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MIS 2101/2901
Exam 2 Review
Michelle Purnama
Diamond Peer
Exam Format
25 Multiple Choice Questions
▸ 5 from assigned readings
▸ 10 from assigned videos & lectures
▸ 10 from Mini-Case
Topics:
ERP, Decision Support, Knowledge Management, SDLC,
Digital Business Innovation
Reminder:
Bring a #2 pencil and highlighters!
2
3.1.1
Enterprise Systems (ERP)
3
Enterprise Resource Planning
▸ Integrate processes across various business
functions into one complete system
▸ Central feature: shared database
○ Different divisions rely on same information
○ Continuously updated view
▸ High risk, high cost, great benefits
▸ Improves operations & decision making → lowers
cost
4
Value Proposition
5
▸ Global, real-time view of data → companies can
address concerns proactively and drive
improvements
▸ Improves compliance with regulatory standards &
reduces risk
▸ Automates core business operations
▸ Enhances customer service by providing one source
for billing and relationship tracking.
Legacy Systems
6
▸ Separate systems that really do make each functional area more efficient
▸ Problems:
○ Standalone systems
○ Organization as a whole not more efficient
○ Multiple copies of data
○ Build and support all system interfaces
○ Different computing platforms
○ Each system interface designed differently
Sales Warehouse Accounting
Challenges & Benefits of ERP
7
Challenges
▸ Adoption
▸ Complex Configuration
▸ Complex Implementation
▸ High Risks
▸ High Costs
▸ Internally focused
Benefits
▸ Data-driven decision making
▸ Standardize business
processes based on industry
best practices
▸ Reduce operating costs
Supply Chain Management (SCM)
Supplier-focused
Enterprise Resource Planning (ERP)
Internally-focused
Customer Relationship Management (CRM)
Customer-focused
SCM, ERP, CRM
8
3.1.2
Decision Support
9
The Decision Making Process
▸ Define the problem
▸ Identify limiting factors
▸ Develop potential alternatives
○ Analyze alternatives
○ Select best alternative
▸ Implement Decision
▸ Establish a Control & Evaluation System
10
Types of Data
11
Structured
▸ Everything we’ve done in this
course thus far!
▸ ERD
▸ Organizational databases
▸ ERP
▸ Clearly defined data entities,
types, relationship, hierarchies
Unstructured
▸ 90% of data
▸ User generated data
○ Email, facebook posts,
tweets, comments on
sites, etc.
▸ Chaotic
Types of Decisions
12
Data Analytics
13
▸ Making sense of large data sets and unlocking
patterns for better decision making
▸ Often using data visualization
Data
▸ Raw
▸ Unstructured
▸ Meaningless
▸ Factual
Information
▸ Where data is
captured
▸ Meaningful data &
statistics
Knowledge
▸ Gaining insight
▸ Making actionable
decisions
Descriptive Analytics
▸ What is happening
Predictive Analytics
▸ What will happen
OLTP vs. OLAP
14
Online Transaction Processing
▸ facilitate and manage
transaction-oriented
applications
▸ large number of transactions
▸ focus on quick data entry and
retrieval
Online AnalyticaL Processing
▸ analyzing data to look for
insights
▸ aggregated, historical data
stored in multidimensional
schemas
▸ low volume of transactions
▸ more complex queries
▸ data mining
OLTP vs. OLAP
15
Database & Data Warehouse
16
Hypercubes & Data Marts
17
Hypercubes
Data Marts
3.1.3
Knowledge Management
18
Knowledge Management
▸ Making the best use of knowledge by capturing,
developing, sharing, and effectively using
organizational knowledge.
▸ What KM consists of:
○ Content Management
○ Expertise Location
○ Lessons Learned
○ Communities of Practice (COPs)
19
Tacit vs. Explicit
20
Tacit Knowledge
▸ Internalized knowledge
▸ Gained through experiences
▸ Practical & action oriented
▸ Hard to transfer by writing it
down or verbalizing it
▸ Knowledge is lost when
people retire
Explicit Knowledge
▸ Readily articulated, codified,
accessed, verbalized
▸ Easily transmitted to others
▸ Mostly stored in certain media:
○ Manuals, how-to videos
○ Encyclopedias
○ Textbooks
○ Works of art
○ Product design
21
Challenges & Benefits of KM
Challenges
▸ Difficult employee buy-in
▸ Knowledge overload
▸ Information obsolesce
▸ Being enamored by the
technology and forgetting the
goal
Benefits
▸ Improve organization’s
performance
▸ Decrease learning curve of
new employees
▸ Prevent “reinvention of the
wheel”
3.2
Systems Management
22
Systems Development Lifecycle
▸ aka application development lifecycle
▸ Process for planning, creating, testing, and
deploying an information system
○ Hardware only, software only, or both
▸ Waterfall vs. Agile Methodologies
23
Waterfall Methodology
24
Sequential model
▸ Output of each stage becomes the input for the next
▸ Focus on complete planning & predictable results
▸ End solution is known
Agile Methodology
25
Iterative approach
▸ Typically in software
development
▸ Focus on limited project
scope & multiple
iterations to improve
products
▸ End solution is unknown
Build vs. Buy
26
Build custom software
▸ Building large business that can
spread cost of system over a huge
number of clients
▸ Off-the-shelf software can’t meet
every need
▸ Canned solutions are rigid
▸ OTS software may not be
compatible with other programs
Buy Canned Solutions
▸ Limited budget
▸ Lack of technical proficiency
▸ Lack of time
▸ Great canned software is already
available
▸ Technology would NOT be a
competitive advantage
Regulatory Compliance
27
Sarbanes-Oxley
Compliance related to corporate accounting
HIPAA
Health Insurance Portability & Accountability Act
HITECH
Health Information Technology for Economic and Clinical Health Care Act
(adds onto HIPAA)
FDA
Food & Drug Administration - establishes many compliance considerations
CMS
Centers for Medicare & Medicaid Services - oversees key health care
programs and HIPAA/HITECH
Know how they
affect IT/IS
projects!
3.3
Digital Business Innovation
28
Disruptive Innovation
▸ Internet removes trade-off between richness of info
and reach
○ previously a competitive advantage
▸ Internet intensifies competition and decreases
profit margin
▸ The disruptive power of internet:
○ Marketing products and services
○ Processing payments
○ Discovering new prospects
○ VR driven business
○ More crime opportunities
29
2017 Trends in Consumer Electronics
30
Different Realities
Driverless Cars
The Cloud and IoT
Wearables Artificial Intelligence
Long Tail
31
Normal Distribution
▸ “Bell curve”
▸ Final grades in MIS 2101
▸ Symmetry around μ
Long Tail
▸ Better matching consumers to what
they are searching for
○ Willing to pay more
○ There’s money in the tail!
▸ Vast expansion of variety
○ variety > bestsellers
○ ZERO inventory cost
▸ Ex. Amazon, Netflix, Google ads
Answer Key
1. B
2. C
3. A
4. B
5. C
6. C
7. B
8. D
9. B
10.C
32
Thanks!
any
questions?
33

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MIS 2101 Diamond Peer Exam 2 Review

  • 1. MIS 2101/2901 Exam 2 Review Michelle Purnama Diamond Peer
  • 2. Exam Format 25 Multiple Choice Questions ▸ 5 from assigned readings ▸ 10 from assigned videos & lectures ▸ 10 from Mini-Case Topics: ERP, Decision Support, Knowledge Management, SDLC, Digital Business Innovation Reminder: Bring a #2 pencil and highlighters! 2
  • 4. Enterprise Resource Planning ▸ Integrate processes across various business functions into one complete system ▸ Central feature: shared database ○ Different divisions rely on same information ○ Continuously updated view ▸ High risk, high cost, great benefits ▸ Improves operations & decision making → lowers cost 4
  • 5. Value Proposition 5 ▸ Global, real-time view of data → companies can address concerns proactively and drive improvements ▸ Improves compliance with regulatory standards & reduces risk ▸ Automates core business operations ▸ Enhances customer service by providing one source for billing and relationship tracking.
  • 6. Legacy Systems 6 ▸ Separate systems that really do make each functional area more efficient ▸ Problems: ○ Standalone systems ○ Organization as a whole not more efficient ○ Multiple copies of data ○ Build and support all system interfaces ○ Different computing platforms ○ Each system interface designed differently Sales Warehouse Accounting
  • 7. Challenges & Benefits of ERP 7 Challenges ▸ Adoption ▸ Complex Configuration ▸ Complex Implementation ▸ High Risks ▸ High Costs ▸ Internally focused Benefits ▸ Data-driven decision making ▸ Standardize business processes based on industry best practices ▸ Reduce operating costs
  • 8. Supply Chain Management (SCM) Supplier-focused Enterprise Resource Planning (ERP) Internally-focused Customer Relationship Management (CRM) Customer-focused SCM, ERP, CRM 8
  • 10. The Decision Making Process ▸ Define the problem ▸ Identify limiting factors ▸ Develop potential alternatives ○ Analyze alternatives ○ Select best alternative ▸ Implement Decision ▸ Establish a Control & Evaluation System 10
  • 11. Types of Data 11 Structured ▸ Everything we’ve done in this course thus far! ▸ ERD ▸ Organizational databases ▸ ERP ▸ Clearly defined data entities, types, relationship, hierarchies Unstructured ▸ 90% of data ▸ User generated data ○ Email, facebook posts, tweets, comments on sites, etc. ▸ Chaotic
  • 13. Data Analytics 13 ▸ Making sense of large data sets and unlocking patterns for better decision making ▸ Often using data visualization Data ▸ Raw ▸ Unstructured ▸ Meaningless ▸ Factual Information ▸ Where data is captured ▸ Meaningful data & statistics Knowledge ▸ Gaining insight ▸ Making actionable decisions Descriptive Analytics ▸ What is happening Predictive Analytics ▸ What will happen
  • 14. OLTP vs. OLAP 14 Online Transaction Processing ▸ facilitate and manage transaction-oriented applications ▸ large number of transactions ▸ focus on quick data entry and retrieval Online AnalyticaL Processing ▸ analyzing data to look for insights ▸ aggregated, historical data stored in multidimensional schemas ▸ low volume of transactions ▸ more complex queries ▸ data mining
  • 16. Database & Data Warehouse 16
  • 17. Hypercubes & Data Marts 17 Hypercubes Data Marts
  • 19. Knowledge Management ▸ Making the best use of knowledge by capturing, developing, sharing, and effectively using organizational knowledge. ▸ What KM consists of: ○ Content Management ○ Expertise Location ○ Lessons Learned ○ Communities of Practice (COPs) 19
  • 20. Tacit vs. Explicit 20 Tacit Knowledge ▸ Internalized knowledge ▸ Gained through experiences ▸ Practical & action oriented ▸ Hard to transfer by writing it down or verbalizing it ▸ Knowledge is lost when people retire Explicit Knowledge ▸ Readily articulated, codified, accessed, verbalized ▸ Easily transmitted to others ▸ Mostly stored in certain media: ○ Manuals, how-to videos ○ Encyclopedias ○ Textbooks ○ Works of art ○ Product design
  • 21. 21 Challenges & Benefits of KM Challenges ▸ Difficult employee buy-in ▸ Knowledge overload ▸ Information obsolesce ▸ Being enamored by the technology and forgetting the goal Benefits ▸ Improve organization’s performance ▸ Decrease learning curve of new employees ▸ Prevent “reinvention of the wheel”
  • 23. Systems Development Lifecycle ▸ aka application development lifecycle ▸ Process for planning, creating, testing, and deploying an information system ○ Hardware only, software only, or both ▸ Waterfall vs. Agile Methodologies 23
  • 24. Waterfall Methodology 24 Sequential model ▸ Output of each stage becomes the input for the next ▸ Focus on complete planning & predictable results ▸ End solution is known
  • 25. Agile Methodology 25 Iterative approach ▸ Typically in software development ▸ Focus on limited project scope & multiple iterations to improve products ▸ End solution is unknown
  • 26. Build vs. Buy 26 Build custom software ▸ Building large business that can spread cost of system over a huge number of clients ▸ Off-the-shelf software can’t meet every need ▸ Canned solutions are rigid ▸ OTS software may not be compatible with other programs Buy Canned Solutions ▸ Limited budget ▸ Lack of technical proficiency ▸ Lack of time ▸ Great canned software is already available ▸ Technology would NOT be a competitive advantage
  • 27. Regulatory Compliance 27 Sarbanes-Oxley Compliance related to corporate accounting HIPAA Health Insurance Portability & Accountability Act HITECH Health Information Technology for Economic and Clinical Health Care Act (adds onto HIPAA) FDA Food & Drug Administration - establishes many compliance considerations CMS Centers for Medicare & Medicaid Services - oversees key health care programs and HIPAA/HITECH Know how they affect IT/IS projects!
  • 29. Disruptive Innovation ▸ Internet removes trade-off between richness of info and reach ○ previously a competitive advantage ▸ Internet intensifies competition and decreases profit margin ▸ The disruptive power of internet: ○ Marketing products and services ○ Processing payments ○ Discovering new prospects ○ VR driven business ○ More crime opportunities 29
  • 30. 2017 Trends in Consumer Electronics 30 Different Realities Driverless Cars The Cloud and IoT Wearables Artificial Intelligence
  • 31. Long Tail 31 Normal Distribution ▸ “Bell curve” ▸ Final grades in MIS 2101 ▸ Symmetry around μ Long Tail ▸ Better matching consumers to what they are searching for ○ Willing to pay more ○ There’s money in the tail! ▸ Vast expansion of variety ○ variety > bestsellers ○ ZERO inventory cost ▸ Ex. Amazon, Netflix, Google ads
  • 32. Answer Key 1. B 2. C 3. A 4. B 5. C 6. C 7. B 8. D 9. B 10.C 32

Editor's Notes

  1. 3.2.1. Business analysis, requirements, and systems acquisition
  2. 3.2.1. Business analysis, requirements, and systems acquisition