TIS 7060 > Module 2 > Flashcards

Module 2 Flashcards

IoE, IoT, Digital Twins and the Cloud (90 cards)

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1
Q

What is Digital Twin Technology?

A

A digital twin is a virtual model of a physical object. It spans the object’s lifecycle and uses real-time data sent from sensors on the object to simulate the behavior and monitor operations.

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2
Q

What are the benefits of digital twins?

A

IPRA: Improved performance, Predictive capabilities, Remote monitoring, Accelerated production time

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3
Q

What types of digital twins are there?

A

Component twins, Asset twins, System twins, Process twins

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4
Q

Asset twins

A

In digital twin terminology, assets are two or more components that work together as part of a more comprehensive system. Asset twins virtually represent how the components interact and produce performance data that you can analyze to make informed decisions.

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5
Q

System twins

A

A higher level of abstraction from asset twins are system twins, or unit twins. A system twin shows how different assets work together as part of a broader system. The visibility offered by system twin technology allows you to make decisions about performance enhancements or efficiencies.

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6
Q

Process twins

A

Process twins show you the digital environment of a whole object and provide insight into how its various components, assets, and units work together. For example, a digital process twin can digitally reproduce how your entire manufacturing facility is operating, bringing together all of the components within it.

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7
Q

How does a digital twin work?

A

A digital twin works by digitally replicating a physical asset in the virtual environment, including its functionality, features, and behavior

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8
Q

What industries use digital twin technology?

A

Construction, Automotive, Manufacturing, Energy, Healthcare

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9
Q

What was the estimated global IT spending in 2015?

A

$3.8 trillion

This figure indicates the enormous scale of IT investments across firms worldwide.

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10
Q

What is the primary focus of the study discussed?

A

To see if and how industry affects the connection between IT capability and firm performance

This addresses the varying roles IT plays across different industries.

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11
Q

What did Chae find regarding IT capability and business performance?

A

No significant bearing of IT capability on business performance

This contradicts earlier studies that suggested a positive connection.

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12
Q

What are the two possible reasons for the contradicting results found by Chae et al.?

A
  • Changes in IT and business environments
  • Research design and method limitations

These factors may have obscured the connection between IT capability and performance.

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13
Q

How can industry influence a firm’s IT budget and capabilities?

A

Industry affects R&D, advertising, IT budget, resources, and capabilities

Alignment of IT resources with the competitive environment is critical.

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14
Q

What are the three different approaches used by IS researchers to understand the effect of industry on IT?

A
  • Measuring dynamism, munificence, and complexity
  • Understanding IT intensity of industry
  • Applying the strategic role of IT in industry

Each approach offers different insights into the relationship between industry characteristics and IT.

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15
Q

Define dynamism in the context of industry.

A

Turbulence, volatility, or demand uncertainty

This is a key characteristic that influences IT capability.

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16
Q

What does the first approach focus on regarding industry?

A

investigate the industry environment in terms of dynamism, munificence (i.e., fast or slow growing), and complexity

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17
Q

What does the second approach focus on regarding industry?

A

The intensity of information and IT in the industry

It suggests that more information-intensive industries are likely to invest heavily in IT.

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18
Q

What is a limitation of the first two approaches discussed (intensity of IT and Dyanism?

A

They assume the industry environment is fixed and stable

This neglects the fluid and evolving nature of industries influenced by technology.

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19
Q

What are the three categories of the strategic role of IT in industry?

A
  • Automate
  • Informate Up/Down
  • Transform

These categories help understand the varying impacts of IT across different industries.

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20
Q

Automate

A

Replace human labor by automating business processes

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21
Q

Informate Up/Down

A

Provide data/information to empower management and employees

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22
Q

Transform

A

Fundamentally change business and industry processes
and relationships.

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23
Q

What does the third approach focus on regarding industry?

A

The third method utilizes a construct called the strategic role of IT in
industry. It categorizes the role of IT for an industry as “Automate,” “Informate up or down,” or “Transform.”

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24
Q

In what ways can IT capability be a strategic asset?

A

It can induce substantial structural changes and influence competitive strategies

The importance of IT capability varies significantly between industries.

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25
Fill in the blank: The advent of the Internet has made industries more _______.
dynamic ## Footnote This shift has transformed many sectors by reducing entry barriers.
26
What is the productivity paradox?
Diminishing return of IT investment ## Footnote This concept explains why increased IT spending doesn't always correlate with improved performance.
27
What critical decision must managers balance regarding IT investment?
The financial risk of investing versus the competitive risk of not investing ## Footnote This balance is essential during challenging market conditions.
28
True or False: The strategic role of IT is the same across all industries.
False ## Footnote Different industries utilize IT in distinct ways, impacting their performance and strategies.
29
What crucial factor should firms consider when making IT investment decisions?
The specific business environment of the industry ## Footnote Understanding this context can lead to more informed and effective IT strategies.
30
What has been a significant area of investment in manufacturing companies over the last decades?
Enterprise information systems (EIS), such as ERP, CRM, and SCM. ## Footnote EIS refers to systems that help organizations manage and analyze data related to their operations.
31
What industry trends are recognized in enterprise software supply networks?
* Mass production * Increasing variety * Multi-tier component supply * Lean production * Servitization ## Footnote These trends reflect the evolution of supply chains and production methods in both physical goods and software.
32
What advantage does cloud computing provide in the context of supply chain management?
It allows lean supply to be combined with servitization. ## Footnote Servitization refers to the process of creating value by providing services alongside physical products.
33
What is a challenge in achieving a combination of large variety, lean supply, and servitization in enterprise software?
The need for configurators of standard software components. ## Footnote Configurators are tools that allow users to customize products based on their preferences.
34
What production method was predominant from the beginning of the industrial revolution until the early 20th century?
Craft production. ## Footnote Craft production is characterized by handmade manufacturing processes, often resulting in unique products.
35
What are some drawbacks of mass production compared to craft production?
* Lower production quality * Higher volume per product * Substantially lower cost * Larger buying community ## Footnote Mass production focuses on high volume and cost efficiency, often at the expense of product uniqueness and quality.
36
What does lean manufacturing aim to achieve?
To exceed the quality of craft production and eliminate waste in mass production. ## Footnote Lean manufacturing emphasizes efficiency and quality improvement.
37
What is the 'customer order decoupling point' (CODP)?
The key distinction between demand and supply in manufacturing processes. ## Footnote CODP helps determine how much of the production process should be based on actual customer orders.
38
What new product modeling approach was introduced to manage product variability?
A representation of product platforms or product families. ## Footnote This modeling approach helps in configuring final product variants based on customer preferences.
39
What does a Bill of Material (BOM) for a product platform typically include?
* Parameters and constraints applicable to the platform * Various domains for BOM usage * Versioning of the platform * Modularity of main components ## Footnote BOMs are crucial for managing the components and assemblies in manufacturing.
40
How can main components of a product family also be treated?
As a product family themselves. ## Footnote For example, components like engines or gearboxes can be generic products.
41
What is a specific example of a configurator in the construction industry?
A CAD system for piping solutions. ## Footnote CAD systems can create various solutions from a limited number of standardized elements.
42
What manufacturing approach did manufacturers adopt to meet increasing market demand?
Pre-engineered products and services
43
What effect did standardization of subassemblies and modules have on production costs?
Lower costs due to economies of scale
44
What was the limitation of tailoring in manufacturing processes?
Limited to final assembly processes and options provided by engineers
45
How did standardization impact lead times in manufacturing?
Lead times were reduced since subassemblies were made on stock
46
What happens to the CODP as the maturity of a branch increases?
The CODP moves upward
47
What is the trend regarding the number of tiers in the supply network?
Tends to increase
48
What is the trend regarding the number of different suppliers per product?
Tends to decrease
49
What must OEM manufacturing firms do to survive in developed economies?
Outsource non-core activities and offer services and solutions
50
What is servitization in the context of manufacturing?
Offering services and solutions rather than just products
51
What is a Product Service System (PSS)?
A model that includes life cycle costing, service level agreements, and ownership of physical assets remaining with the supplier
52
What characterized bespoke software engineering in the 1970s and 1980s?
Craftsmanship
53
What shift occurred in enterprise information systems during the 1990s?
Shift from bespoke systems to standard enterprise solutions like ERP
54
What is the dominant delivery model of ERP systems?
Make-to-Stock (MTS)
55
What are the three elements that ASP offers as a service?
* Infrastructure-as-a-Service (IaaS) * Platform-as-a-Service (PaaS) * Software-as-a-Service (SaaS)
56
True or False: Customization tools in ERP increase flexibility but also complexity and costs.
True
57
What drives vendors towards componentization of monolithic ERP applications?
* New technologies * Integration issues * Business process management
58
What is the challenge with maintaining multiple different versions of a software component?
Leads to inefficiencies in service delivery
59
What does multi-tenancy in SaaS require?
Data of all customers must be kept separated
60
What analogy is explored in the paper regarding trends in delivery?
Trends in physical products and enterprise information systems
61
What is the predicted next step for enterprise information systems?
Assemble-to-order delivery model based on configuration of standard components
62
List the three distinct characteristics of the predicted cloud service.
* Sold on demand * Elastic * Fully managed by the provider
63
What are key cloud trends?
Serverless computing, multicloud strategies, edge / fog computing
64
Serverless computing
enables efficient execution of analytics workloads without managing infrastructure
65
Multicloud strategies
Offer greater flexibility and resilience by spanning multiple cloud providers
66
Edge / fog computing
Allows processing closer to data sources, reducing latency and bandwidth usage
67
Name the opportunities of Cloud-base Big Data Analytics
- Scalability - Overhead reduction - Enhanced performance
68
Name the challenges of Cloud-base Big Data Analytics
- Security concerns - Scalability management - Cost-effectiveness
69
Bespoke software development
the creation of software specifically designed and built from scratch to meet the unique needs, processes, and goals of a single client or organization, unlike generic off-the-shelf software designed for the mass market
70
SaaS
Software as a Service
71
SaaS definition
What it is: Software delivered over the internet via subscription, rather than installed locally. Purpose: Offers users access to applications without managing infrastructure or updates. Example: Using Salesforce or Microsoft 365 via a browser.
72
IoT (Internet of Things)
What it is: A network of physical devices (sensors, appliances, machines) connected to the internet, collecting and exchanging data. Purpose: Enables real-time monitoring, automation, and data-driven decision-making. Example: A smart toothbrush that tracks brushing habits and sends data to a mobile app
73
Cloud Computing
What it is: Delivery of computing services (servers, storage, databases, networking, software) over the internet. Purpose: Provides scalable infrastructure and platforms without the need for physical hardware ownership. Example: Hosting an app or storing IoT data on Microsoft Azure or AWS.
74
How does Cloud Computing, Saas, and IOT work together?
IoT devices generate data. Cloud computing stores and processes that data. SaaS applications present the data to users in meaningful ways (e.g., dashboards, alerts, analytics).
75
This is the process of extracting useful insights and patterns from massive amounts of data using advanced analytical techniques.
Big data analytics
76
This refers to the delivery of computing resources (such as servers, storage, databases, networking, software, and analytics) over the internet.
Cloud Computing
77
AWS, Azure, GCP, IBM Cloud, Hadoop and Oracle Cloud are all examples of
Cloud Computing platforms
78
This enables secure and transparent transaction recording using a decentralized, distributed ledger system.
Blockchain technology
79
What did Coca Cola enable through Service Cloud by giving call center employees a 360 view of their customers.
Team based Selling
80
In the Phillips video, the CIO describes this as the potential to connect to customers on a 1-1 level on the scale of 100Million
IOT
81
What does the Phillips CIO say is the new currency of business?
Speed
82
What industry does Wortman compare to enterprise software development?
Automobile
83
CODP stands for?
Customer Order Decoupling point
84
This created dynamic business networks to provide value in the most efficient way. Because many of the components can be made at lower cost at outside the OEM using economies of scale.
Outsourcing of non-core activities up or down the supply chain
85
Automotive craft production in the 1880s was compared to WHAT in the 1970s?
Bespoke software development
86
What does Chae call the diminishing return of IT (you spend more money on IT but do not get a corresponding improvement to the business?
The Productivity Paradox
87
What term does Chae use for replacing human labor by automating business processes.
Automate
88
What term does Chae use for; providing data and information to empower management and employees.
Informate Up/Down
89
What term does Chae use for when information technology fundamentally changes business, industry processes and relationships?
Transform
90
What company coined the term The Internet of Everything?
Cisco
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