Business Information Systems > Exam One > Flashcards

Exam One Flashcards

(58 cards)

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1
Q

The Fourth Industrial Revolution (what is it, potential to raise what, BUT a chance of causing what?)

A

a fusion of advances in tech, potential to raise global income levels & quality of life, BUT a chance of causing inequality in the labor market.

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2
Q

Important technologies (9)

A

AI, Web 3 (3rd iteration of the internet), Blockchain (way of sharing data), faster computer processing, VR & AR, Biotechnology, Robotics, the internet of things (everyday items connected to the internet), 3D printing, and more

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3
Q

Digital Transformation

A

the rewriting of an organization, with the goal of creating value by continuously deploying tech at scale. The integration of digital technologies into all aspects of business operations.

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4
Q

What’s needed for success in a digital transformation? (6)

A

a business value focused strategy, talent, an operating model that can scale, technology allowing independent innovation, access to data, strong adoption & change management

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5
Q

The three key performance indicators for digital transformations (VC,TH,CMP)

A

value creation, team health, change-management progress.

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6
Q

Explain Starbucks’ Deep Brew

A

An AI system driving personalization & inventory

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6
Q

a digital transformation has to have what?

A

a personalized customer experience

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7
Q

digital flywheel (a ____-__________ business model where ____________ ______ ________ and digital interaction drive a…)

A

a self-reinforcing business model where continuous data insights and digital interactions (like AI, apps, or IoT) drive a, loop of improved customer experience, operational efficiency, and, faster innovation

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8
Q

Data

A

raw, unprocessed facts that need context to become useful.

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9
Q

Information

A

data that has been processed, organized, and interpreted to add meaning and value, which is used to make decisions.

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10
Q

2 types of data

A

Quantitative (numerical & measurable) or Qualitative (qualities & attributes)

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11
Q

Quantitative data classifications (2)

A

discrete (finite) or continuous (values subdivided within a range)

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12
Q

Qualitative data classifications (2)

A

nominal (no ranking/order) or ordinal (ranked order)

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13
Q

structured data

A

organized and easily searchable

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14
Q

unstructured data

A

lacks a format, stored in native form

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15
Q

Steps needed to go from data to information (4 - POIS)

A

processing, organizing, interpreting, structuring

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16
Q

Evolution of AI

A

rules based AI → machine learning → generative AI → agentic AI

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17
Q

Machine learning (giving it what, for the system to what (3)?

A

give AI a training set in order for the system to extract patterns, to gain understanding, or to predict.

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18
Q

Value creation

A

Using AI to deliver entirely new capabilities that were previously impossible or expensive

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19
Q

6 components needed in order of importance when prompting AI (TCEPFT)

A

task, context, exemplars, persona, format, tone

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20
Q

Cognitive Offloading

A

Using/relying on external tools to reduce mental effort and thinking.

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21
Q

Agile

A

A way of working that seeks to harness the inevitability of change rather than resist it.

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22
Q

The agile manifesto (________ over processes, ________ over thorough documentation, _________ _______ over closed-door meetings, ______ _______ over set plans.

A

individuals over processes, prototypes over thorough documentation, customer collaboration over closed-door meetings, swift response over set plans.

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23
Q

traditional organizations

Study These Flashcards
A

operate in static and structure

24
agile organizations (_______ - ________ network of teams with a ________-________ culture for operating in ____________-____________)
tech-enabled network of teams with a people-centered culture operating in rapid-learning
25
Kanban
lanes of work displayed to deliver a product
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scrum
A team led by a leader and product owner that sets its own commitments and engages in ceremonies. An Agile framework for developing, delivering, and sustaining complex products through collaboration, accountability, and iterative progress (Sprints)
27
Kaizen philosophy
continuous, incremental improvement
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5 components of all agile groups (NS, NofET, RDM & LC, DPM, NGT)
north star (purpose & vision), network of empowered teams, rapid decision making and learning cycles, dynamic people model, and next-gen technology
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deliberate calm
a mindset that helps leaders keep a cool head during a crisis and steer their ships through a storm.
30
Waterfall approach
a linear, sequential project management approach with distinct phases and rigid progression
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Where else is agile important beyond project management?
marketing, supply chain, accounting
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Kanban Board
a project management tool, designed to help you visualize your work using cards, columns, and specific commitment and delivery point to help you understand how your work flows.
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What is business competition all about?
Who is the most profitable
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Porters Five Forces
buyers bargaining power, supplier bargaining power, substitute products or services, new entrants, existing rivals.
34
_______ health is just as important as your own company's individual health
Industry
35
High rivalry competition (3)
When there are multiple businesses offering similar products, the industry is growing, when consumers can easily switch.
36
3 strategies for business success
cost leadership, differentiation, focus (look at a smaller market niche)
37
Digital strategy
Everything an enterprise may state regarding their ambitions and why digital is the way to go
38
Tech aligned to strategy
the tech domains an enterprise is betting on to enable some promise of digital
39
Digital change (statements made to the what the enterprise is bringing in to realize the promise of digital.) and explaining why...
statements made to the skill the enterprise is bringing in to realize the promise of digital, and explaining why digital will make the enterprise a different groups over time.
40
AGI (artificial general intelligence)
Where Ai can think, learn, and solve problems like a human.
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Compressed century
Rapid AI development will accelerate scientific and technological advances so dramatically, it's like we skip time.
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innovation
turning ideas or invention to a good or service that people will buy.
43
Different strategies/models (list 3 of them)
SWOT analysis, porters generic strategies, porters 5 forces model.
44
5 stages of design thinking (EDIPT)
empathize, define, ideate, prototype, test
45
Design thinking
a human-centered approach to innovation
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Instances when NOT to use AI
when you need to learn new information, when very high accuracy is required, when you don't know the failure modes of AI, when effort is the point, when AI is bad
47
supervised machine learning (use of what and what to do what?)
use of labeled training and test sets to predict next value
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Reinforcement machine learning
learn via trail and error, often involving human feedback
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unsupervised machine learning
identify clusters in data (no training set)
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Generative AI
creates new text, images, by predicting what comes next. trained on massive data sets.
50
GPT
Generative Pre-Trained Transformer
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AI governance
the processes, standards, and guardrails that help ensure AI systems and tools are safe and ethical. CEO & senior leadership is responsible.
52
AI Alignment
the science of ensuring that AI systems do what we intend them to do.
53
Systems Thinking
Analysis of how a system's constituent parts interrelate and work over time and within larger system. A holistic approach to understanding complex problems by viewing them as interconnected wholes, rather than isolated parts, to identify root causes, anticipate consequences, and promote sustainable solutions
54
The three core areas of functionality for collaboration tools are (C, FS&M, P&TM)
1. Communication 2. File sharing and management 3. Project and task management
55
Examples of a digital disruptor.
Uber, Netflix, Amazon
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