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Employees must be able to obtain and analyze what 3 things to make decisions?
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1) Different LEVELS
2) FORMATS 3) GRANULARITIES of organizational info |
What is GRANULARITIES
(informational granularity? |
Fine & detailed or "coarse" and abstract information (extent of detail w/in info)
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Examples of Information Levels |
Individual
Department Enterprise |
Examples of Information Formats
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Document, Presentation, Spreadsheet, Database
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Examples of Information Granularity |
Detail (fine), Summary, Aggregate (Coarse) |
Transactional Information |
Encompasses all the infromation contained within a single buisness process or unit of work, and its primary purpose is to supprt the performing of daily operational tasks
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Analytical Information |
encompasses all organizational information, and its
primary purpose is to support the performing of managerial analysis tasks
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Examples of Transactional Information
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withdrawing cash from an ATM, making an airline
reservation, purchasing stocks,
daily sales, hourly employee payroll, product orders,
shipping an order
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Examples of Analytical Information
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market, industry, and economic conditions,
make ad-hoc
decisions,
trends, sales, product statistics, and future growth
projections,
cost/benefit analysis, sales forecast, market trends,
industry trends, and regulations
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Characteristics of High-Quality information
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Timeliness, Uniqueness, Consistency, Completeness, & Accuracy
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What are the 4 primary sources of Low Quality Information?
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1) online customers intentionally enter inaccurate information to protect their privacy
2) info 4m diff systems have diff entry standards & formats 3) Call center operator enter abbreviated or errorneous info by accident or to save time 4) 3rd party & external info contains inconsistencies, inaccuracies & errors |
What are the Potenial Business Effects/ Costs Resulting from Low Quality info?
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1) inability to accurately track customers
2) Difficulty in identifying valuable customers 3) Inability to identify selling opportunities 4) Marketing to nonexistent customers 5) Difficulty tracking revenue due to inaccurate invoices 6) Inability to build strong customer relationships |
What are the 3 Database Models?
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Hierarchical
Network Relational |
Hierarchial Database Model
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Information is organized into a tree-like structure (using parent/child relationships) in such way that it cant have too many relationships
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Network Database Model
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A flexible way of representing objects and their relationships
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