Ch.1 MIS – Flashcards

the confirmation/validation of an event/object

when infinite quantities of facts are widely available to anyone who can use a computer

raw facts that describe the characteristics of an event or object

is data converted into a meaningful and useful context

data characteristic that stands for a value that changes or varies over time

information collected from multiple sources such as suppliers, customers, competitors, partners, and industries that analyzes patterns trends and relationships for strategic decision making

includes the skills, experience, and expertise, coupled with info and intelligence that creates a person's intellectual resources

individuals valued for their ability to interpret and analyze info

records, measures, and reports monetary transactions

deals with strategic financial issues including money, banking, credit, investments, and assets

maintains policies, plans, and procedures for the effective management of employees

supports sales by planning, pricing, and promoting goods or services

performs the function of selling goods or services

manages the process of converting or transforming or resources into goods or services

are material items or products that customers will buy to satisfy a want or need

is a collection of parts that link to achieve a common purpose

tasks performed by people that customers will buy to satisfy a want or need

is the process where a business takes raw materials and processes them or converts them into a finished product for its goods or services

the rate at which goods or services are produced based upon total output given total inputs

is a way of monitoring the entire system by viewing multiple inputs being processed or transformed to produce outputs while continuously gathering feedback on each part

is info that returns to its original transmitter and modifies the transmitter's actions

is a business function, like accounting and human resources, which moves info about people, products, and processes across the company to facilitate decision making and problem solving