Business Analytics

?
What does a transaction processing system support?
1. Monitoring
2. Collection
3. Storage
4. Processing of data from the organisation's basic business transactions
1 of 54
What are Transaction Processing Systems for businesses?
Inputs such as customer relationship management, knowledge management and e-commerce
2 of 54
How does a Transaction Processing System protect volumes of data
- Keeping an audit trial which is required by law for certain transactions
3 of 54
What are the methods used by an transaction Processing System processes data?
1. Batch Processing
2. Online Transaction Processing
4 of 54
Explain Batch Processing
1. In this, the firm collects data from transactions as they occur and places them in groups or batches
2. The system then prepares and processes the batches periodically
5 of 54
How is Data Collected?
1. Point of Sale
2. Point of Entry
3. Acessing System (Oyster card)
4. Internet
6 of 54
How is Data Collected?
1. On the cloud
2. On a hard drive
3. Within a structured database system
4. Within other types of information system
5. USB stick and other portable storage devices
7 of 54
How is Data Shared?
1. Through Social Media
2. Through Email and Other Personal Interfaces
3. Through Controlled Access to Internal Organisation System
4. Through Access to External System
8 of 54
Information is shared within an organisation through what systems?
1. Enterprise Resource Planning (ERP) Systems
2. Transaction Processing Systems
9 of 54
Examples of FAIS are?
1. Accounting Information Systems (IS)
2. Finance Information Systems (IS)
3. Marketing Information Systems (IS)
10 of 54
Explain what happens in Batch Processing
Here, the firm collects data from transactions as they occur, placing them in groups or batches. The system then prepares and processes the batches periodically
11 of 54
Explain what happens in Online Transaction Processing
Here, the business transaction is processed online as soon as they occur. For example, when you pay for an item at a store, the system records the sale by reducing the inventory on hand by one unit.
12 of 54
What does POM stand for?
Production/Operatiosn Management
13 of 54
What is POM responsible for
The processing that transforms inputs into useful outputs as well as for the overall operation of the business + responsible for the managing the organisation's supply chain
14 of 54
List the POM functions
1. In House Logistics and materials managements
2. Inventory Management
3. Quality Control
4. Planning, production and operation
5. Computer-integrated manufacturing
6. Product lifecycle management
15 of 54
Key HR functions ?
1. Recruitment
2. HR Maintenance and development
3. HR Planning and management
16 of 54
Explain how information systems for HR is used when it comes to recruitment
- With the help of specialised search engines such as Linkedln and other companies
- Advertisements on websites such as indeed
17 of 54
Explain how information systems for HR is used when it comes to Human Resources Development
- After employees are recruited, they become part of the corporate Human Resources pool which means they must be evaluated and development. This is where IT provides support for these activities

- IT plays an important role in training and retaining
18 of 54
Explain how information systems for HR is used when it comes to HR Planning and Management
1. Payroll and employees' records
2. Benefits administration
3. employee relationship management
19 of 54
Explain how information systems for HR is used when it comes to Payrolls and employees' records
1.HR department is responsible for payroll preparation
2. Process is typically automated meaning that pay checks are printed or money is transferred electronically into employees' bank accounts
20 of 54
Explain how information systems for HR is used when it comes to benefits administration
1. In return for their work contributions to their organisations, employees receive wages, bonuses and various benefits
2. this is a complex task because multiple options are available and organisationally typically allow employees to choose and trade o
21 of 54
Explain how information systems for HR is used when it comes to Employee relationship management
1. In their efforts to better manage employees, companies are developing employee relationship management (ERM) applications, for example, a call center for employees to discuss problems
22 of 54
What categories do reports fall into
1. Routine
2. Ad hoc (on demand)
3. Exception
23 of 54
Explain routine reports
1. produced at scheduled intervals
2. range from hourly quality control to daily reports on absenteeism rates
3. although valuable to an organisations, managers need special information that is not included in these reports
24 of 54
Explain Enterprise Resource Planning Systems
1. designed to correct a lack of communication among the functional information systems
2. enterprise resource planning systems resolve the above mentioned by tightly integrating the functional area
3. They adopt a business process view of the overall org
25 of 54
Benefits of Enterprise Resource Systems
1. Organisational flexibility and agility
2. Decision Support
3. Quality and Efficiency
26 of 54
List the ways in which a company can implement Enterprise Resource Process (ERP) systems
1. On-premises ERP
2. Software-as-a-service
27 of 54
Explain the approaches towards implementing on-premises ERP systems?
1. Vanilla Approach
2. Customer approach
3. the best of breed approach
28 of 54
Explain Vanilla Approach
this is when a company implements a standard enterprise resource system by using the package's built in configuration
29 of 54
Explain customer approach
here, the company implements a more customised EPR system by developing a new ERP functions designed specifically for that firm
30 of 54
Explain the best-of-breed approach
In this approach, the benefits of the vanilla approach and customer systems are combined while avoiding the extensive costs and risks associated with complete customisation
31 of 54
What does the procurement process consist of?
1. warehouse
2. purchasing
3. accounting
32 of 54
list the strategy that the fulfilment process can follow?
1. sell-from stock
2. configure-to-oder
33 of 54
What tools can be used to analyse a company's financial performance?
1. Percentage in terms of market share or profitability
2. Index numbers to compare against previous years which includes index number, composite index numbers, chain base index numbers
34 of 54
what is the consumer price index used for?
1. used to monitor changes in the cost of living for an average person or family - an official measure of inflation in the UK

2. Used to make comparisons against other changes
35 of 54
What does the consumer price index reflect?
- the changes in spending patterns and the changes in living standards
36 of 54
Retail Price Index?
1. another similar weighted measure of living costs calculated by taking a basket of goods and services consumed by the majority of households
37 of 54
Key difference between Retail price index and Consumer price index?
- retail price index includes housing costs whereas the CPI does not
38 of 54
Explain Chain Base Numbers?
1.this gives the relative value of an item using the previous year as the base year
2. the base year changes for each calculation in the chain
39 of 54
Explain causality?
1. this implies a direct link, where one variable will cause a change in the other variable
40 of 54
Give an example of causality?
1. temperature
2. fuel consumption
41 of 54
Define MIS (management information systems)
1. this refers to information systems that product dashboards for us and tells us about what is going on in management
42 of 54
Define DSS (decision support)
1. this refers to what the organisation would if there is an outrage or an incident
43 of 54
define what 'enabling business strategies for competitive advantage'
this is when businesses/organisations invest in certain technology, it gives them a competitive advantage
44 of 54
List the different times of decisions
1. structured
2. semi structured
3. unstructured
45 of 54
List what is included in structured decisions
1. operational management
2. operating managers and self-directed teams
46 of 54
List what is included in semistructured decision?
1. tactical management
2. business unit managers and self-directed teams
47 of 54
List what is included in unstructured decision?
1. strategic management
2. executives and directors
48 of 54
list the information characteristics that businesses enjoy?
1. pre-specified
2. scheduled
3. detailed
4. frequent
5. historical
5. internal
6. narrow focus
49 of 54
list the different levels of activity that information systems support
1. users
2. technology
3. process to given a goal
4. all stakeholders
50 of 54
in order for managers to be effective, they must ...
1. control
2. plan & forecast
3. invest
4. make decisions
51 of 54
what information would middle managers require?
information with flexibility to address questions across multiple contexts, including MIS (management information systems) & DSS (decision support)
52 of 54
what information would senior managers require?
1. information over a bigger area
2. information in the context of the external environment to make strategic decisions supported by ESS
53 of 54
List the tools used to aid decisions
1. Grid analysis
2. Paired comparison
3. decision trees
54 of 54

Other cards in this set

Card 2

Front

What are Transaction Processing Systems for businesses?

Back

Inputs such as customer relationship management, knowledge management and e-commerce

Card 3

Front

How does a Transaction Processing System protect volumes of data

Back

Preview of the front of card 3

Card 4

Front

What are the methods used by an transaction Processing System processes data?

Back

Preview of the front of card 4

Card 5

Front

Explain Batch Processing

Back

Preview of the front of card 5
View more cards

Comments

rxrxafu353

Report

This is a very good post .Thanks for letting us know some good tips . lewdle

Similar Business Management resources:

See all Business Management resources »See all Business Analytics resources »