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BIS 255

Exam 1

QuestionAnswer
Business Intelligence Provides historical, current, and predictive views of business operations and environments and gives organizations a competitive advantage in the marketplace
Transaction processing systems (TPS) focus on data collection and processing; the major reason for using them is cost reduction
Management information system (MIS) is an organized integration of hardware and software technologies, data, process, and human elements designed to produce timely, integrated, relevant, accurate, and useful information for decision-making purposes.
4 Major components of an information system Data, Database, Process, Information
Information Technology Support information systems and use the internet, computer networks, database systems, POS systems, and RFID tags
Porters 5 forces model Buyer Power, Supplier Power, Threat of substitute products or services, Threat of new entrants, Rivalry among existing competitors
Created by: dale1
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