1. How Data is Different from Information?
Data:
Definition: Raw, unprocessed facts and figures without context.
Characteristics:
Form: Numeric, text, or other format.
State: Unanalyzed, unorganized.
Example: A list of sales figures, temperature readings.
Information:
Definition: Processed data that is meaningful and useful for decision-making.
Characteristics:
Form: Organized, contextualized.
State: Analyzed, structured.
Example: Monthly sales report showing trends, weather forecasts.
2. What Do You Mean by Management Information System?
Management Information System (MIS):
Definition: An organized collection of people, procedures, software, databases, and devices that provides routine information to managers and decision makers.
Components:
Hardware: Physical devices.
Software: Programs and applications.
Data: Internal and external information.
Procedures: Guidelines for data processing.
People: Users and IT professionals.
Functions:
Data Collection: Gathering raw data from various sources.
Data Processing: Transforming data into useful information.
Information Storage: Keeping data for future use.
Information Dissemination: Distributing information to the right people.
Importance:
Supports decision-making.
Enhances efficiency.
Improves productivity.
3. What is Strategic Information?
Strategic Information:
Definition: Information used to support long-term planning and strategic decisions.
Characteristics:
Relevance: Pertinent to the long-term goals of the organization.
Future-Oriented: Focuses on future trends and scenarios.
Broad Scope: Covers comprehensive aspects of the business environment.
Examples:
Market research data.
Competitor analysis.
Economic forecasts.
4. Discuss Emerging Trends in Information Technology
Emerging Trends:
Artificial Intelligence (AI) and Machine Learning:
Applications: Automating tasks, predictive analytics, personal assistants.
Impact: Increased efficiency, enhanced decision-making.
Cloud Computing:
Services: IaaS, PaaS, SaaS.
Impact: Flexibility, cost savings, scalability.
Internet of Things (IoT):
Devices: Smart homes, wearables, industrial sensors.
Impact: Real-time data, improved operational efficiency.
Blockchain:
Uses: Secure transactions, transparent records.
Impact: Enhanced security, reduced fraud.
5G Technology:
Benefits: Faster data speeds, low latency.
Impact: Enhanced mobile connectivity, supports IoT growth.
5. What is the Difference Between Batch and Online Processing?
Batch Processing:
Definition: Processing data in large groups at scheduled times.
Characteristics:
Timing: Delayed, at specific intervals.
Examples: Payroll processing, end-of-day reporting.
Advantages: Efficient for large volumes of data, low cost.
Disadvantages: Lack of real-time updates.
Online Processing (Real-time Processing):
Definition: Processing data immediately as it is entered.
Characteristics:
Timing: Instantaneous, continuous.
Examples: ATM transactions, online reservations.
Advantages: Immediate feedback, up-to-date information.
Disadvantages: Higher cost, complexity.
6. Define IT Enabled Services and Its Importance in Current Scenario
IT Enabled Services (ITES):
Definition: Services that leverage IT to improve the efficiency and effectiveness of business processes.
Examples:
BPO: Business Process Outsourcing.
KPO: Knowledge Process Outsourcing.
LPO: Legal Process Outsourcing.
Importance:
Global Reach: Enables businesses to operate internationally.
Cost Efficiency: Reduces operational costs through outsourcing.
Focus on Core Activities: Allows businesses to concentrate on their main functions.
Scalability: Adapts to changing business needs.
7. Discuss Characteristics and Importance of Transaction Processing System
Transaction Processing System (TPS):
Definition: Systems that handle the collection, modification, and retrieval of transaction data.
Characteristics:
Speed: Fast processing of transactions.
Reliability: Consistent performance with minimal downtime.
Accuracy: Precise processing and recording of transactions.
Security: Protection of data from unauthorized access.
Importance:
Operational Efficiency: Supports daily business operations.
Data Integrity: Ensures accurate and reliable data.
Customer Satisfaction: Provides quick and efficient service.
8. Information as Strategic Resource Used for Competitive Advantage
Justification:
Competitive Advantage: Information allows organizations to make better strategic decisions, understand market trends, and anticipate customer needs.
Example:
Amazon: Uses customer data for personalized recommendations, optimizing supply chain management, and improving customer service. This data-driven
approach helps Amazon to stay ahead of competitors by enhancing customer experience and operational efficiency.
9. Define System
System:
Definition: A set of interrelated components working together towards a common goal.
Components:
Inputs: Resources entering the system.
Processes: Actions transforming inputs into outputs.
Outputs: Final products or services.
Feedback: Information used to improve processes.
Examples:
Biological System: Human body.
Information System: Computer network.
10. Define Table and Field
Table:
Definition: A collection of related data organized in rows and columns within a database.
Example: Customer information table containing customer names, addresses, and contact details.
Field:
Definition: A single piece of data or attribute within a table.
Example: The "Name" column in a customer information table.
11. Discuss Attributes of Information and Explain Its Relevance to Decision Making
Attributes:
Accuracy: Correct and precise information.
Completeness: All necessary information is provided.
Relevance: Pertinent to the decision-making context.
Timeliness: Available when needed.
Consistency: Uniformity across data sources.
Relevance to Decision Making:
Accurate information reduces errors.
Complete information provides a full picture.
Relevant information ensures focus on important aspects.
Timely information allows prompt actions.
Consistent information avoids confusion and discrepancies.
12. Define IT Capabilities and Their Organizational Impact
IT Capabilities:
Definition: The ability of an organization to effectively utilize IT resources and infrastructure to achieve business goals.
Components:
Technical Skills: Proficiency in using and managing technology.
Infrastructure: Hardware, software, networks.
Management Skills: Strategic planning and implementation of IT.
Organizational Impact:
Operational Efficiency: Streamlined processes and reduced costs.
Innovation: New product development and business models.
Customer Service: Enhanced customer experience and satisfaction.
Competitive Advantage: Better decision-making and market positioning.
13. Write Notes on Types of Information
Operational Information:
Definition: Information used for daily operations.
Example: Inventory levels, sales transactions.
Tactical Information:
Definition: Information used for short-term planning and control.
Example: Monthly performance reports.
Strategic Information:
Definition: Information used for long-term planning and decision-making.
Example: Market analysis, competitive intelligence.
External Information:
Definition: Information from outside the organization.
Example: Economic data, regulatory changes.
Internal Information:
Definition: Information generated within the organization.
Example: Financial statements, internal memos.
14. Discuss Decision Support System with Its Components
Decision Support System (DSS):
Definition: Computer-based systems that assist in decision-making processes.
Components:
Database: Central repository for data storage.
Model Base: Analytical tools and models for processing data.
User Interface: Mechanism for user interaction.
Software: Integrates and coordinates other components.
Functions:
Data Analysis: Interpreting data to generate insights.
Scenario Modeling: Simulating different decision scenarios.
Decision Support: Providing recommendations based on data analysis.
15. Discuss Group Decision Support System in Detail
Group Decision Support System (GDSS):
Definition: Interactive computer-based systems designed to facilitate the solution of unstructured problems by a group of decision-makers.
Components:
Hardware: Networked computers and communication devices.
Software: Collaborative tools, decision-making applications.
People: Facilitators, group members.
