Chapter 5 - Management Information

Question 1

3 types of information strategy

Answer 1

• Info systems strategy - what info needed by business? where from? who gets it?
• Info technology strategy - technology (hardware/software)
• Info management strategy - storage/access, process design, new uses for info, people, prioritisation, efficient use of resources

Question 2

Web techniques

Answer 2

• Mashups - morph web content from different sources
• Competence syndication - different orgs benefit from each others competencies e.g. amazon marketplace
• Network effects - effect user has on value of product for other e.g. amazon reviews

Question 3

Knowledge Management

(defn)

Answer 3

Processes to exploit knowledge for business purposes

Question 4

Organisational knowledge

(defn)

Answer 4

accumulated through systems, routines, activities

Question 5

Implementing a knowledge management strategy

Answer 5

• Top management support
• Create technological infrastructure
• Create sharing culture
• Populate databases
• Store as much as possible in computer systems

Question 6

Failure of knowledge management systems

Answer 6

• failure to sustain investment
• lack of consultation
• resistance to cultural change
• lack of willingness to share/collaborate

Question 7

Big data

Answer 7

• Volume - amount
• Velocity - speed
• Variety - sources (structured + unstructured)
• Veracity - trustworthiness

Question 8

Big data challenges

Answer 8

• Volume of data / different formats
• Determining which data is relevant
• Creating platforms that can pull unstructured data
• Security/Data protection