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Chapter 1 COMPETING IN THE INFORMATION AGE

Chapter 1 COMPETING IN THE INFORMATION AGE. LEARNING OUTCOMES Describe the information age and the differences between data, information, business intelligence, and knowledge Identify the different departments in a company and why they must work together to achieve success

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Chapter 1 COMPETING IN THE INFORMATION AGE

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  1. Chapter 1COMPETING IN THE INFORMATION AGE LEARNING OUTCOMES • Describe the information age and the differences between data, information, business intelligence, and knowledge • Identify the different departments in a company and why they must work together to achieve success • Explain systems thinking and how management information systems enable business communications

  2. Information Technology’s Impact on Business IT BI MIS Operations Flat world Systems Thinking Data – Information - Knowledge

  3. THE SOLUTION: MANAGEMENT INFORMATION SYSTEMS • Systems thinking – A way of monitoring the entire system by viewing multiple inputs being processed or transformed to produce outputs while continuously gathering feedback 1-3

  4. COMPETING IN THE INFORMATION AGE • Examples of the power of business and technology • Amazon – Not a technology company; primary business focus is selling books • Netflix – Not a technology company; primary business focus is renting videos • Zappos – Not a technology company; primary business focus is selling shoes

  5. Information Technology’s Impact on Business 1-5

  6. Information Technology’s Impact on Business 1-6

  7. Data, Information, BI • Data - raw facts that describe the characteristic of an event • Information - data converted into a meaningful and useful context • Business Intelligence – applications and technologies that are used to gather, provide access to, and analyze data and information to support decision-making efforts

  8. Data, Information, BI 1-8

  9. Data, Information, BI 1-9

  10. Data, Information, BI 1-10

  11. INFORMATION TECHNOLOGY BASICS • When beginning to learn about information technology it is important to understand the following: • Data, information, and business intelligence • IT resources • The challenge: departmental companies • The solution: management information system

  12. THE CHALLENGE: DEPARTMENTAL COMPANIES Common Departments Working Independently

  13. THE SOLUTION: MANAGEMENT INFORMATION SYSTEMS Common Departments Working Interdependently 1-13

  14. Forces that Flattened the World

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