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7 Database

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maintains information about various types of objects (inventory), events (transactions), people (employees), and places (warehouses)

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7 Database management system (DBMS)

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creates, reads, updates, and deletes data in a database while controlling access and security

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7 Query-by-example (QBE) type of DBMS

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helps users graphically design the answer to a question against a database

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7 Structured query language (SQL) type of DBMS

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asks users to write lines of code to answer questions against a database

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7 Data element (data field)

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the smallest or basic unit of information. EX: customer name, address, email, discount rate, product name, etc.

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7 Data models

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logical data structures that detail the relationships among data elements using graphics or pictures

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7 Metadata

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provides details about data. EX: metadata for a picture would include size, resolution, and date created.

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7 Data dictionary

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compliles all of the metadata about the data elements in the data model

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7 Entity

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(also referred to as a table) stores information about a person, place, thing, transaction, or event. Essentially what the title of the table is

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7 Attributes

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(also called columns or fields) are the data elements associated with an entity. Essentially just the title of the columns

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7 Primary key

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a field (or group of fields) that uniquely identifies a given record in a table. Whatever column headings that are directly related to the title of the table Record- a collection of related data element.

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7 Foreign key

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a primary key of one table that appears as an attribute in another table and acts to provide a logical relationship between the two

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7 Advantages of using relational databases

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increased flexibility, increased scalability and performance, reduced information redundance, increased information integrity, increased information security

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7 Data driven website

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an interactive website kept constantly updated and relevant to the needs of its customers using a database Advantages: Easy to manage content, easy to store large amounts of data, easy to eliminate human errors Zappos

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7 Forward integration

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takes information entered into a given system and automatically sends it to all downstream processes and systems. Backwards is the opposite

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8 Data warehouse

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a logical collection of information--gathered from many different operational databases--that supports business analysis activities and decision-making tasks Primary purpose is to aggregate information throughout an organization into a single repository in such a way that employees can make decisions and undertake business analysis activities

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8 Extraction, transformation, and loading (ETL)

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a process that extracts information from internal and external databases, transforms the information using a common set of enterprise definitions, and loads the information into a data warehouse

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8 Data mart

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contain a subset of data warehouse information

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8 Data mining

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a process of analyzing data to extract information not offered by the raw data alone

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8 Data mining tools

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use a variety of techniques to find patterns and relationships in large volumes of information and infer rules from them that predict future behavior and guide decision making

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8 Information cleansing or scrubbing

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a process that weeds out and fixes or discards inconsistent, incorrect, or incomplete information

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8 Supporting decisions with business intelligence

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companies now are data rich and information poor. Business intelligence can provide managers with the ability to make better decisions, and change the information poor state.

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9 The decision making process

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1. Problem identification 2. Data collection 3. Solution generation 4. Solution test 5. Solution selection 6. Solution implementation

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Managerial decision making challenges

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1. managers need to analyze large amounts of information 2. managers must make decisions quickly 3. managers must apply sophisticated analysis techniques, such as Porter's strategies or forecasting, to make strategic decisions

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9 Operational decision making (most basic)

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Employees develop, control, and maintain core business activities required to run the day-to-day operations

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9 Structured decisions

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Situations where established processes offer potential solutions

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9 Managerial decision making (middle level)

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Employees evaluate company operations to identify, adapt to, and leverage change

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9 Semistructured decisions

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Occur in situations in which a few established processes help to evaluate potential solutions, but not enough to lead to a definite recommended decisions

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9 Strategic decision making (top)

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Managers develop overall strategies, goals, and objectives

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9 Unstructured decisions

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Occurs in situations in which no procedures or rules exist to guide decision makers toward the correct choice

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9 Model

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A simplified representation or abstraction of reality Models help managers calculate risks, understand uncertainty, change variables, manipulate time to make decisions

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9 Transaction processing system (TPS)

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Basic business system that serves the operational level and assists in making structured decisions

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9 Decision support system (DSS)

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Models information to support managers and business professionals during the decision- making process Semistructured, managerial

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9 Executive information system(EIS)

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A specialized DSS that supports senior level executives within the organization. Unstructured, long term, non routine decisions requiring judgement, evaluation, and insight. Unstructured, strategic

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9 Online transaction processing (OLTP)

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Capturing of transaction and event information using technology to process, store, and update

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9 Online analytical processing (OLAP)

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Manipulation of information to create business intelligence in support of strategic decision making

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9 Source document

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The original transaction record

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9 What-if analysis (DSS)

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checks the impact of a change in a variable or assumption on the model

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9 Sensitivity analysis (DSS)

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a special case of what-if analysis, is the study of the impact on other variables when one variable is changed repeatedly

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9 Goal-seeking analysis (DSS)

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finds the inputs necessary to achieve a goal such as a desired level of output

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9 Optimization analysis

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an extension of goal-seeking analysis, finds the optimum value for a target variable by repeatedly changing other variables, subject to find specified constraints

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9 Artificial intelligence (AI)

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Simulates human intelligence such as the ability to reason and learn

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9 Expert system (AI)

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Computerized advisory programs that imitate the reasoning processes of experts in solving difficult problems

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9 Neural Network (AI)

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Attempts to emulate the way the human brain works

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9 Genetic algorithm (AI)

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An artificial intelligent system that mimics the evolutionary, survival-of-the-fittest process to generate increasingly better solutions to a problem

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9 Intelligent agent (AI)

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Special-purpose knowledge- based information system that accomplishes specific tasks on behalf of its users

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9 Virtual reality (AI)

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A computer-simulated environment that can be a simulation of the real world or an imaginary world

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Supply chain

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supplier>manufacturer> distributor>retailer> customer

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10 Bullwhip effect

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occurs when distorted product demand information passes from one entity to the next throughout the supply chain

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10 Demand planning software

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generates demand forecasts using statistical tools and forecasting techniques

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10 Supply chain planning(SCP) software

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uses advanced mathematical algorithms to improve the flow and efficiency of the supply chain while reducing inventory

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10 Supply chain execution(SCE) software

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automates the different steps and stages of the supply chain

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10 Radio frequency identification (RFID)

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Uses electronic tags and labels to identify objects wirelessly over short distances

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11 Customer Relationship Management (CRM)

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a means of managing all aspects of a customer's relationship with an organization to increase customer loyalty and retention and an organization's profitability

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11 Operational CRM

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supports traditional transactional processing for day-to-day front-office operations or systems that deal directly with the customers

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11 Analytical CRM

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supports back-office operations and strategic analysis and includes all systems that do not deal directly with the customers

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11 Current CRM trend: Supplier relationship management (SRM)

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focuses on keeping suppliers satisfied by evaluating and categorizing suppliers for different projects, which optimizes supplier selection

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11 Current CRM trend: Partner relationship management (PRM)

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focuses on keeping vendors satisfied by managing alliance partner and reseller relationship that provide customers with the optimal sales channel

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11 Current CRM trend: Employee relationship management (ERM)

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provides employees with a subset of CRM applications available through a web browser

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12 Enterprise Resource Planning (ERP)

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Automates business processes At the heart of all ERP systems is a database, when a user enters or updates information in one module, it is immediately and automatically updated throughout the entire system.

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12 Middleware

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(Integration tool) several different types of software that sit in the middle of and provide connectivity between two or more software applications. Translates information between different systems.

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12 Core ERP component

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traditional components included in most ERP systems and they primarily focus on internal operations 1. accounting and finance 2. production and materials management 3. human resources

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12 Extended ERP component

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extra components that meet the organizational needs not covered by the core components and primarily focus on external operations 1. business intelligence 2. customer relationship management 3. supply chain management 4. ebusiness

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12 ERP benefits

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1. Integrate financial information 2. Integrate customer order information 3. Standardize and speed up manufacturing processes 4. Reduce inventory 5. Standardize human resource information But it's expensive

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