Information Systems

A term combining aspects of reporting, data exploration and ad hoc queries, and sophisticated data modeling and analysis

A term describing the extensive use of data, statistical and quantitative analysis, explanatory and predictive models, and fact-based management to drive decisions and actions.

Data leverage and data-driven decision making -It can be a tough slog getting an organization to the point where it has a data asset that it can leverage - In many organizations data lies dormant and spreads across inconsistent formats and incompatible systems so it is unable to be turned into anything of value

Raw facts and figures

Data presented in a context so that it can answer a question or support decision making

Insight derived from experience and expertise

A system that records a transaction (some form of business- related exchange ), such as a cash register sale, ATM withdrawal, or product return -These represent a fountain of potentially insightful data for organizations that sell directly to their customers -The cash register is the primary source that feeds data to the TPS

Some kind of business exchange

Customer Relationship Management Systems, Supply Chain Management, Enterprise Resource Planning.

Used to empower employees to track and record data at nearly every point of customer contact.

Role of material until it gets shipped to client (every process)

Systemwide software that can talk to each other.

Firms supplement operational data with additional input from surveys and focus groups, direct surveys can tell you what your cash register can't, many CRM products have survey capabilities that allow for additional data gathering at all points of customer contact

External Sources if your firm that sell products for you then you'll likely rely heavily on data collected by others. Data brought from sources available to all might not yield competitive advantage but it can provide key operational insight

Older information systems that are often incompatible with other systems, technologies, and ways of conducting business. Factors holding back information advantage. Many organizations are data rich but information poor.