Information Systems Overview - Business and Finance

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Questions and Answers

What is the primary purpose of a computer?

  • To perform complex calculations without users
  • To store large amounts of data indefinitely
  • To process data and transform it into useful information (correct)
  • To serve as a communication device between users

Which of the following best defines an information system?

  • Only the hardware used in a company
  • A collection of software applications only
  • A method for data storage and retrieval
  • A combination of people, devices, processes, and information facilitating decision-making (correct)

Which component is NOT part of an information system?

  • Processes
  • External vendors (correct)
  • Data
  • People

What does the term 'data' refer to in the context of information systems?

<p>A numerical/symbolic representation of a characteristic (D)</p> Signup and view all the answers

What does the field of computer science primarily study?

<p>The representation, organization, and automated processing of information (B)</p> Signup and view all the answers

What is the primary role of the Information Technology (IT) department?

<p>To manage the processing and distribution of information (A)</p> Signup and view all the answers

Why do companies invest resources in information systems?

<p>To achieve a competitive advantage and increase efficiency (A)</p> Signup and view all the answers

What are the two options for managing an IT budget?

<p>Allocate by department or manage centrally by IT (A)</p> Signup and view all the answers

Which of the following is NOT a component of an information system?

<p>Employee wages (B)</p> Signup and view all the answers

What does the 'make or buy' decision in IT project development entail?

<p>Deciding whether to develop the application in-house or purchase it (D)</p> Signup and view all the answers

What is meant by 'mixed development' in software applications?

<p>Utilizing both internal and external resources for development (C)</p> Signup and view all the answers

Which of the following statements best describes communication networks in an information system?

<p>They connect devices for data transmission (A)</p> Signup and view all the answers

What does it mean when a company decides to 'buy' an application?

<p>It is choosing to use an existing application with no changes (B)</p> Signup and view all the answers

Flashcards

Computer's Purpose

A computer processes data and turns it into useful information to solve problems and boost productivity.

Information System Components

A combination of people, devices, applications, processes, data, and information that gives companies the right info, at the right time.

Information System Goal

To give the correct information to every decision-making part of a company at the right time.

Computer Science

The study of information processing and its uses, especially computers' methods, organization and automatic handling of info.

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Data vs. Information

Data is raw facts (numbers, symbols, characteristics). Information is data that's processed to be useful.

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Information System

A system that processes data and transforms it into information.

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Information Technology (IT) Department

The business unit responsible for managing and distributing information in an organization.

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Strategic Business Goal

A long-term, important objective for a company.

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Competitive Advantage

A factor or feature that allows a company to outperform its competitors.

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Information System Infrastructure

The combination of hardware, software, and communication networks that support an information system.

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Make or Buy Decision

A choice in software development: building software in-house or purchasing it from a vendor.

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IT Budget Management

The process of allocating and controlling IT department funds.

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Market Price

The price at which a product or asset is bought and sold in the market.

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Study Notes

Course Information

  • Course: Business and Finance
  • Academic Year: 2024/2025
  • Course Name: Information Systems
  • Instructor: Francesco Tornieri
  • University: Università Cattolica del Sacro Cuore

Agenda

  • Definitions
  • Information systems
  • Professional roles

Definitions

  • Computer/Electronic Device: A device for processing data and signals (Treccani)

Purpose of a Computer

  • Process data and convert it to useful information
  • Goal: speed up problem-solving and improve productivity

Computer Science

  • Studies information processing and its applications
  • Focuses on computer representation, organization, and automated information processing
  • Originates from the French word "informatique," a combination of "information" and "automation"
  • Coined by P. Dreyfus in 1962

Information System Definition and Components

  • Combines people, devices (hardware), applications (software), and communication networks
  • Processes data and information
  • Enables companies to have the right information at the right place and time
  • Purpose: meet decision-making needs by providing necessary information to operate

Data and Information

  • Data: Numerical or symbolic representation of a measurement, characteristic, event, or object (e.g., price=202.85; stock=APPLE; time=11.24)
  • Information: Data with meaning and associated specific content (e.g., the market price of ENI stock was 202.85 at 11:24)
  • Information systems process data into information

Information Systems Infrastructure

  • Hardware: Tangible computer components
  • Software: Programs/instructions for computer functions
  • Communication Networks: Connections between devices for data transmission

Companies and Information Systems

  • Companies invest in information systems to achieve strategic goals, gain competitive advantages, and increase efficiency

Information Technology (IT) Department

  • Manages information processing and distribution to ensure all organizational units have necessary information to achieve business goals
  • Applies ICT to make business processes more efficient through automated information systems

Responsibility for Information Systems

  • IT department (executive and proactive role)
  • Other business units (IT's customers)

IT Budget

  • Two options:
    • Management allocates budget to each department, then each department defines project budgets and assigns to IT
    • IT manages the budget centrally for maximum efficiency

Make or Buy Decisions

  • IT projects require a choice between developing (making) or purchasing (buying) software and hardware.
  • Options exist for outsourcing or renting hardware and software.

Software Applications

  • Make: developing software using internal or mixed internal/external resources based on internal specifications
  • Buy: purchasing existing software with or without customization or acquiring application rights

Information Systems Function and New Digital Skills

  • Focuses on definitions, companies, and professional roles within information systems.

Professional Roles

  • Data Scientist
  • Ecommerce Specialist
  • Cybersecurity Expert
  • Social Media Manager
  • Community Manager
  • Web Content Specialist
  • Web Designer
  • Web Marketing Manager
  • Mobile Developer

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Related Documents

Information Systems 2024/2025 PDF

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