MIS 2101 - Spring 2015 Final Exam Strategies for presenting a Business Case (3 F's) Faith, Fear, Fact A salary for an employee is a (tangible or intangible), ______ cost. tangible, recurring cost An installation fee is a (tangible or intangible), ______ cost. tangible but non - recurring cost An Increase in revenue is a (tangible or intangible), ______ . tangible benefit Improved customer perception of your firm is an (tangible or intangible), ______ . intangible benefit Break - Even' analysis where the tangible benefits = the tangible costs __________ benefits and costs don't usually play in with Break - Even analysis Intangible (the strategies for improving inventory management) - Companies implement strategies like 'Just - In - Time' inventory management systems to ... significantly reduce the amount of inventory needed on hand. - "Customer - Managed" systems, reduce the... costs involved in administering & managing inventory. The part of business that focuses on hardware and software used to keep everything running smoothly, and to support the business activity - Infrastructure This involves critically examining and re - thinking our current business processes in order to achieve dramatic improvements in performance; this process is known as "Business Process Management" A retailer who has decided to use a low - price strategy to compete and gain market share, will focus on their _______ to dis - intermediate the middle - men and wholesalers to reduce their product costs and increase profit. "supply chain efficiency" The strategy of providing web - based systems and interfaces that can provide consumers with product information, sales order status, customer support information, problem & issue resolution, etc., at any time, any place, from any device CRM - (Customer Relationship Mgmt) _________ is the use of information systems to gather and analyze information from internal and external sources in order to make better business decisions. Business Intelligence (BI) BI is used to integrate data from disconnected, non - integrated sources such as (3)... Reports Databases Spreadsheets _________ data helps to monitor and fine - tune business processes Integrated data BI can help businesses react better to various threats and opportunities, including: (6) - Unstable markets - Global threats - Fierce competition - Short product life cycles - Stringent regulations - Providing wider choices for consumers BI also involves ________ Planning at all levels of the business. Continuous Planning Databases collections of related data organized in a way that facilitates data searches, mining, storage, & organization. Main Database Elements/Components (4) - Entity - Table - Row (record) - Column (attribute) Database element: Entity something you can collect data about, such as people or classes Database element: Table contains entities. Consists of rows and Columns Database element: Row (record) a record in a table. One row pertains to one entity instance Database element: Column (attribute) one cell in a row. Each attribute contains a piece of information about the entity. Most common ways to query a database: - Query - Structured Query Languages (SQL) - Query By Example (QBE) Query a command for retrieving specified information from a database Structured Query Language (SQL) — the most common language for querying databases Query by example (QBE) — a simpler query interface using graphical drag - and - drop features; newer and easier way to query databases; no programming skills needed. Online Transaction Processing (OLTP) - IT systems used to process customer transactions: e.g. orders, deliveries, invoicing, payments, etc. Operational (OLTP) vs. Informational (OLAP) IT systems: