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IBBusinessDPBusiness ManagementHLFlashcards5. Operations Management5.9 Management Information Systems

5.9 Management Information Systems (DP IB Business Management)

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  • What is data analytics?

    Data analytics is the process of transforming raw data into useful information to uncover patterns, correlations, trends and insights.

  • What are descriptive analytics?

    Descriptive analytics is analysis that focuses on past business performance, summarising data and identifying periods of success and failure.

  • What do prescriptive analytics focus on?

    Prescriptive analytics focus on analysis that leads to recommendations for actions or decisions.

  • What is a database?

    A database is a structure for stored data that allows for swift data input, storage, protection and retrieval of information.

  • True or False?

    Cybersecurity only protects against data theft.

    False.

    Cybersecurity includes systems used to protect computer networks from theft or unauthorised data access.

  • What is phishing?

    Phishing occurs when someone tricks individuals or businesses into providing sensitive information by posing as a trustworthy agent in electronic communications.

  • What is ransomware?

    Ransomware is a type of malware that encrypts users' files and demands a fee to be paid for their release.

  • What are critical infrastructures?

    Critical infrastructures are IT-based systems and facilities that are central to the effective operation of a business.

  • What are artificial neural networks?

    Artificial neural networks are computer systems inspired by the way the human brain works, used to automate business tasks.

  • What is cloud computing?

    Cloud computing is the storage and sharing of data and applications using remote servers and online networks.

  • What is virtual reality?

    Virtual reality is technology that allows users to explore and interact with a realistic 3-dimensional environment created using software.

  • What does IoT stand for?

    IoT stands for Internet of Things.

  • What is artificial intelligence (AI)?

    Artificial intelligence is technology that allows machines to complete tasks that normally require human intelligence or reactions.

  • What is a distributed denial of service attack?

    A distributed denial of service (DDoS) attack involves overwhelming a website or online service with traffic, causing it to become slow or unavailable

  • What is big data?

    Big data refers to large volumes of data that inundate businesses on a day-to-day basis.

  • What are customer loyalty programmes?

    Customer loyalty programmes are ways to gather large amounts of data on spending habits and behavior of customers, often offering rewards in return.

  • What is digital Taylorism?

    Digital Taylorism is the use of technology to carefully monitor workers' use of tools and techniques for completing their work tasks.

  • Define data mining.

    Data mining is the process of extracting raw data from large data sets and converting it into useful information.

  • True or False?

    Data mining can only be used for marketing purposes.

    False.

    Data mining can be used for various purposes, including marketing, sales forecasting, consumer profiling, and production planning.

  • What are the main criticisms of data mining?

    The main criticisms of data mining include:

    • Invasion of privacy

    • Risk of data breaches

    • The potential for discrimination

  • What does GIGO stand for?

    GIGO stands for Garbage In, Garbage Out, meaning that inaccurate or low-quality data can lead to poor decisions.

  • What are the main legal and ethical concerns related to data use?

    The main legal and ethical concerns related to data use include:

    • Data security

    • Privacy

    • The potential for discrimination

    • A lack of transparency.

  • What are the GDPR regulations?

    General Data Protection Regulation (GDPR) is a set of strict data protection regulations that businesses must follow when handling personal data.

  • True or False?

    Technology always improves employee productivity.

    False.

    While technology can enhance productivity, it may also create skill gaps and resistance to change among employees.

  • True or False?

    The growing use of technology raises concerns about environmental sustainability.

    True.

    The environmental impact of increased technology use, including higher energy consumption and problems with equipment disposal, raises sustainability concerns.

  • What is a skills gap?

    A skills gap is a difference between the skills businesses need their employees to possess and the actual skills they have.

Previous:5.8 Research & Development (R&D)Next: 5.1 Introduction to Operations Management

    1. Topic 1

      1.1 What is a Business?

    2. Topic 2

      1.2 Types of Business Entities

    3. Topic 3

      1.3 Business Objectives

    4. Topic 4

      1.4 Stakeholders

    5. Topic 5

      1.5 Growth & Evolution

    6. Topic 6

      1.6 Multinational Companies (MNCs)

    1. Topic 1

      2.1 Introduction to Human Resource Management

    2. Topic 2

      2.2 Organisational Structure

    3. Topic 3

      2.3 Leadership & Management

    4. Topic 4

      2.4 Motivation & Demotivation

    5. Topic 5

      2.5 Organisational (Corporate) Culture

    6. Topic 6

      2.6 Communication

    7. Topic 7

      2.7 Industrial Relations

    1. Topic 1

      3.1 Introduction to Finance

    2. Topic 2

      3.2 Sources of Finance

    3. Topic 3

      3.3 Costs & Revenues

    4. Topic 4

      3.4 Final Accounts

    5. Topic 5

      3.5 Profitability & Liquidity Ratio Analysis

    6. Topic 6

      3.6 Efficiency Ratio Analysis

    7. Topic 7

      3.7 Cash Flow

    8. Topic 8

      3.8 Investment Appraisal

    9. Topic 9

      3.9 Budgets

    1. Topic 1

      4.1 Introduction to Marketing

    2. Topic 2

      4.2 Marketing Planning

    3. Topic 3

      4.3 Sales Forecasting

    4. Topic 4

      4.4 Market Research

    5. Topic 5

      4.5 The Marketing Mix (7 P's)

    6. Topic 6

      4.6 International Marketing

    1. Topic 1

      5.1 Introduction to Operations Management

    2. Topic 2

      5.2 Operations Methods

    3. Topic 3

      5.3 Lean Production & Quality Management

    4. Topic 4

      5.4 Location

    5. Topic 5

      5.5 Break-Even Analysis

    6. Topic 6

      5.6 Production Planning

    7. Topic 7

      5.7 Crisis Management & Contingency Planning

    8. Topic 8

      5.8 Research & Development (R&D)

    9. Topic 9

      5.9 Management Information Systems

    1. Topic 1

      6.1 The Business Management Toolkit