CIS MIDTERM

A field concerned with the use of technology in managing and processing information

General name for the business function and academic principle covering the application of people, technologies, and procedures to solve business problems

Raw facts that describe the characteristics of an event

Data converted into a meaningful and useful context

Refers to applications and technologies that are used to gather, provide access to, and analyze data and information to support decision-making efforts

A product or service that an organization's customers place a greater value on than similar offerings from a competitor

When an organization can significantly impact its market share by being first to market with a competitive advantage

The acquisition and analysis of events and trends in the environment external to an organization

1. Buyer Power
2. Supplier Power
3. Threat of substitute products or services
4. Threat of new entrants
5. Rivalry among existing competitors

Reward customers based on the amount of business they do with a particular organization (buyer power)

Consists of all parties involved, directly or indirectly, in the procurement of a product or raw material (supplier power)

An Internet-based service that brings together many buyers and sellers (supplier power)

A B2B marketplace in which a single buyer posts its needs and then opens the bidding to any supplier who would care to bid (supplier power)

An auction format in which increasingly lower bids are solicited from organizations willing to supply the desired product or service at an increasing lower price (supplier power)

Costs that can make customers reluctant to switch to another product or service (threat of substitute products)