Management Information Systems Terms Test 1 – Flashcards
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Digital Systems
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Computers and related devices that use the binary system (two digits)
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Problem
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any undesirable situation
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Decision
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arises when more than one solution to problem exists
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Purpose of Info systems
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TO HELP PEOPLE IN ORGANIZATIONS MAKE BETTER DECISIONS.
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Data
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a given or fact
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Information
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facts or conclusions that have meaning within context
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Process
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the manipulation of data, usually with the goal of producing information
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System
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array of components that work together to achieve goal or goals (it does so by accepting input, processing it, and producing output in an organized manner)
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Subsystem
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component of larger system
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Systems thinking
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thinking of an organization in terms of subsystems; powerful management approach that creates a framework for problem solving and decision making
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Database
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large collection of related records
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Synergy
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combining resources to produce output that exceeds the sum of outputs of the separate resources by themselves; Greek "work together"
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Computer-based Information system
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system with one or more computers at center
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Trends in IS
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*Growing power/decreasing cost of computers *Growing capacity/decreasing costs of data storage devices *Increasing variety/ingenuity of computer programs *Available, reliable, affordable, and fast communications links to Internet *Internet Growth *Increasing computer literacy of the workforce
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Input
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collect and introduce data to system
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Transaction
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a business event, usually entered as input
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Transaction Processing System (TPS)
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a system that records transactions and processes transactions
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Data processing
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performs calculations on input
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Output
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what is produced by the information system; includes devices such as printers and speakers
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Storage
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maintaining vast amounts of data and information
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Telecommunications
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communication technologies are used to support the four data processing functions (receive input, process data, display information, store data, transfer data)
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Management Information System
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A SYSTEM THAT SUPPORTS PLANNING, CONTROL, AND MAKING DECISIONS
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Supply Chain
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sequence of activities involved in producing and selling products or services (for products includes marketing, purchasing raw materials,etc & for services includes marketing, monitoring customer portfolios, etc)
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Supply Chain Management Systems (SCM)
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systems that support the sequence of activities involved in producing and selling products or services and are linked to become one large IS providing information on any stage of a business process.
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Enterprise Resource Planning Systems
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systems that occur inside the walls of business and mainly serve managers in monitoring and modifying business practices; also supports the planning of shipping resources such as personnel, funds, raw materials, and vehicles.
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Customer Relationship Management Systems (CRM)
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systems for managing relations with customers
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Business Intelligence Systems (BI)
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***Systems that glean relationships and trends from raw data to help organization compete better
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Data warehouse
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large database that usually stores transactional records
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Decision support System (DSS)
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system that SUPPORTS decision making; extrapolates data to predict outcomes...answers "what if?"
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Expert system (ES)
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system that supports knowledge-intensive decision making; uses artificial intelligence techniques
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Geographic Information System (GIS)
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system that is used to tie data to physical locations
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Functional Business Area
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SERVICES WITHIN A COMPANY THAT SUPPORT MAIN BUSINESS; includes accounting, finance, marketing, and human resources
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E-Commerce
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buying and selling goods and services through the Internet
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Help desk technician
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supports end users in their daily use of IT; often provides help via telephone
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Systems analyst
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Researches, plans, and recommends software and systems choices; responsible for developing cost analyses, design considerations, implementation timelines, and feasibility studies
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Database administrator (DBA)
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responsible for databases and data warehouses
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Network administrator
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acquires, implements, manages, maintains, and troubleshoots networks; implements security
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System administrator
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manages an organization's computer operating systems; must ensure that operating systems work together, support business requirements, and function properly
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Webmaster
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creates and maintains Web site
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Chief security officer (CSO)
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supervises security of information system; usually reports to chief information officer (CIO)
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Chief information officer (CIO)
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responsible for all aspects of information system; often a corporate vice president
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Chief technology officer (CTO)
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has similar duties as CIO
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Strategy
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framework, or approach, to obtaining an advantageous position
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Business strategy
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a plan to help an organization outperform its competitors; often done by creating new opportunities, not beating rivals
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Strategic Information system (SIS)
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an information system that helps seize opportunities; company-wide and crosses departments
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Strategic advantage
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using strategy to maximize company strengths
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Competitive advantage
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WHEN THERE IS SOMETHING THAT YOUR CUSTOMERS CAN NOTICE THAT YOU DO BETTER THAN YOUR COMPETITORS; achieved when a for-profit company increases market share and increases profits significantly
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Switching costs
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expenses incurred when customer stops buying from one company and starts buying from another
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First mover
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organization that is first to offer a new product or service; usually results in superior brand name, better technology, more experience, or critical mass
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Critical mass
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body of clients that is large enough to attract other clients
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Product differentiation
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persuading customers that your product is better than competitors'; usually achieved through advertising and customer experience
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Alliance
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two companies combining services; makes product more attractive; reduces costs; provides one-stop shopping
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Affiliate program
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linking to other companies and rewarding the linker for click-throughs
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Bargaining power
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leverage to influence buyers and suppliers; achieved by being major competitor or eliminating competitors; uses purchase volume as leverage over suppliers
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Reengineering
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ELIMINATING AND REBUILDING OPERATIONS FROM THE GROUND UP; often involves new machinery and elimination of management layers; frequently involves information technology
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JetBlue
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airline company that entered a formerly hurting market with great success
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Late mover
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enters the market later than other competitors; can be viewed as advantage; implements latest available technologies; not burdened with legacy systems
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Bleeding edge
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FAILURE OCCURRING BECAUSE OF COMPANY TRYING TO BE ON LEADING EDGE; no prior experience from which to learn; implementation costs are greater than anticipated; technology ends up losing money for company
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Effectiveness
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THE DEGREE TO WHICH A GOAL IS ACHIEVED
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Efficiency
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THE RELATIONSHIP BETWEEN RESOURCES EXPENDED AND BENEFITS GAINED IN ACHIEVING A GOAL
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Productivity
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efficiency of HUMAN resources; improves when fewer workers are required to achieve the same goal
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Productivity tools
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software applications that improve productivity
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Customer Relationship Management system (CRM)
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SYSTEM THAT SERVES CUSTOMERS
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Accounting information system
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receives information from transaction processing systems (TPSs); automatically routes purchases to accounts payable; automatically routes sales to accounts receivable
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Cost accounting systems
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accumulate data about costs involved in producing specific products
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Time to market
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time between generating an idea for a product and completing a prototype
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Brainstorming
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process of a group of colleagues meeting and collaborating to generate creative solutions and new ideas
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Computer aided design (CAD)
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tools to create, modify, and store designs and drawings electronically
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Rapid prototyping
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creating one-of-a-kind products to test design in three dimensions
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Computer aided manufacturing (CAM)
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systems that instruct machines how to manufacture parts and assemble products
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Supply chain
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consists of procurement of raw materials, processing materials into goods, and delivering goods
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Supply chain management
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monitoring, controlling, and facilitating supply chains; logistics
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Material requirements planning (MRP)
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inventory control; determines when inventory needs to be restocked; can predict future need based on demand forecasts
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Bill of materials (BOM)
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list of all raw materials and subcomponent demands to produce a product
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Economic order quantity (EOQ)
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optimal quantity of a raw material that minimizes overstocking and saves cost, without missing production deadlines
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Manufacturing resource planning (MRP II)
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combines MRP with other related activities to plan the entire manufacturing process; uses master production schedule
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Master production schedule
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specifies how production capactity is to be used to meet customer demands
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Just in time manufacturing
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suppliers ship parts directly to assemply lines as needed; avoids warehousing costs
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Radio frequency identification (RFID)
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a technology containing circuity that allows recording of information about a product
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Electronic product code (EPC)
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a code on an RIFD tag that provides more information than the universal product code (UPC); information may include date of manufacturing, plant location, expiration date, destination
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Customer relationship management (CRM)
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designed to support any and all relationships with customers; supports the three areas of marketing, sales, customer service
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Market research
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helps discover populations and regions that are most likely to purchase product
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Targeted marketing
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promotes to people most likely to purchase products
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Customer service
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web provides automated service 24/7, includes FAQs, tracking systems, maintenance of customer profiles
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Salesforce Automation
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Equips traveling salespeople with information technology to improve productivity
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Telemarketing
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marketing over the telephone; caller has large database of consumer data
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Computer telephony integration
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allows computer to use telephone lines as input; caller ID can be used to locate customer data
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Data mining
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uses large data warehouses to find trends and shopping habits of various demographic groups
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Inventory turns
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the number of times the business sells its inventory per year
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Enterprise Resource Planning system (ERP)
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manages daily operations and facilities planning
