2018 Old paper
The major differences between data and information are: (2013/IMS)
- Data is the input language for a computer and information is the output language for human
- Data is unprocessed facts or mere figures but information is processed data which has been made saense of
- Data does not depend on information but information depends on data and without it, information cannot be processed
- Data is not specific but information is specific enough to generate meaning
- Data is the raw material that is collected but information is a detailed meaning generated from the data.”
important functions of Database Management System are
- Data Dictionary Management,
- Data Storage Management,
- Data Transformation and Presentation,
- Security Management,
- Multi user Access Control,
- Backup and Recovery Management,
- Data Integrity Management,
What are Knowledge Management Systems? (Hetauda )
Knowledge management systems refer to any kind of IT system that stores and retrieves knowledge, improves collaboration, locates knowledge sources, mines repositories for hidden knowledge, captures and uses knowledge, or in some other way enhances the KM process.
Online Analytical Processing (OLAP) & its operations (2017 /KIST/Nagarjuna/Prime/SDC/Asian || IMS /Morgan 2018)
Online analytical processing (OLAP) is used to query and analyze multi-dimensional data and produce information that can be viewed in different ways using multiple dimensions.
Four types of analytical operations in OLAP are:
- Roll-up :- Roll-up is also known as “consolidation” ,drill-up or “aggregation”.This operation summarizes the data along the dimension.
- Drill-down :- In drill-down data is fragmented into smaller parts. It is the opposite of the rollup process.
- Slice and dice :- Here, one dimension is selected, and a new sub-cube is created.
- Pivot (rotate) :- This operation is similar to a slice. The difference in dice is you select 2 or more dimensions that result in the creation of a sub-cube.
Define extranet (Morgan / St Xavier 2018) :-
It is a controlled private network that allows access to partners, vendors and suppliers or an authorized set of customers – normally to a subset of the information accessible from an organization’s intranet.
- communicate and collaborate more effectively
- reduce costsimprove business
- improve customer ,simplify processes,secure your communications –
- share newswork flexibly
Factors Contributing to Failures (Asian /Morgan/Prime)
- The MIS is conceived as a data processing and not as an information processing system.
- The MIS does not provide that information which is needed by the managers but it tends to provide the information generally the function calls for. The MIS then becomes an impersonal system.
- Lack of training and appreciation that the users of the information and the generators of the data are different, and they have to play an important responsible role in the MIS.
- Lack of user-friendly system and the dependence on the system personnel.
- The MIS does not give perfect information to all the users in the organization.
Factors Contributing to Success
- The MIS is integrated into the managerial functions. It sets clear objectives to ensure that the MIS focuses on the major issues of the business.
- An appropriate information processing technology required to meet the data processing and analysis needs of the users of the MIS is selected.
- The MIS is oriented, defined and designed in terms of the user’s requirements and its operational viability is ensured.
- MIS focuses on the results and goals, and highlights the factors and reasons for non-achievement.
- The MIS recognizes that a manager is a human being and therefore, the systems must consider all the human behavioral factors in the process of the management.
2017 Old paper
Define Customer-centric. (NCC/NCCS/SDC)
For many companies, the chief business value of becoming a customer-focused business lies in its ability to help them keep customers loyal, anticipate their future needs, respond to customer concerns, and provide top-quality customer service.
Distributed database (Asian /Hetauda/KIST/Prime/SDC || IMS /St Xavier 2018)
It is a collection of multiple interconnected databases, which are spread physically across various locations that communicate via a computer network.
Define sales force automation. (NCCS/SDC)
sales force automation is a technique of using software to automate the business tasks of sales, including order processing, contact management, information sharing, inventory monitoring and control, order tracking, customer management, sales forecast analysis and employee performance evaluation
Information quality parameters (Asian /Nagarjuna/prime/SDC)
What is Goal Seeking Analysis /what if analysis (Asian /Hetauda/IMS/KIST/Prime/SDC || Hetauda / Morgan 2018)
Goal seeking anslysis is the process of finding the correct input value when only the output is known.
What is TPS (IMS/Hetuada || 2018 IMS )
TPS stands for transaction processing systems. They are used by users at the operational management level.TPS is defined as “a computer – based information system that keeps track of the transactions needed to conduct business”. Examples of transaction processing systems include;
- Point of Sale Systems– records daily sales
- Payroll systems– processing employees salary, loans management, etc.
- Stock Control systems– keeping track of inventory levels
- Airline booking systems– flights booking management
Electronic commerce (E-commerce)(2014/orchid || St xaviers)
Electronic commerce describes the buying and selling of products, services, and information via computer networks including the Internet.Electronic commerce draws on technologies such as mobile commerce, electronic funds transfer, supply chain management, Internet marketing, online transaction processing, electronic data interchange (EDI), inventory management systems, and automated data collection systems.
Bargaining power of Buyer (Asian/KIST/Prime/SDC || 2018 IMS)
Buyer power gives customers/consumers (buyers) the ability to squeeze industry margins by pressuring firms (the suppliers) to reduce prices or increase the quality of services or products offered.
Buyer Power is High/Strong if:
- Buyers are more concentrated than sellers
- Buyer switching costs are low
- Buyer is prices ensitive
- Buyer is well-educated regarding the product
- Undifferentiated product
- Buyer purchases productin high volume
- Substitutesare available
What is Management Information Systems (MIS)? (2013/Asian/KIST/Prime || Asian /SDC s2018)
A management information system (MIS) is a computer system consisting of hardware and software that serves as the backbone of an organization’s operations. An MIS gathers data from multiple online systems, analyzes the information, and reports data to aid in management decision-making.
Why copyright is created ? (Nagarjuna)
Copyright laws protect certain kinds of original works. Any creation that is fixed in a recording medium — whether paper, compact disc, film or digital — is subject to copyright
The Role of a Chief Information Officer (CIO)
- Create business value through technology
- Strategic planning of business growth objectives
- Ensuring the tech systems and procedures lead to outcomes in line with business goals
What is Information Asymmetry (2015)
Information asymmetry deals with the decision of transaction in situations where one party has more information compared to the other. This asymmetry creates an imbalance of power in transactions, which can sometimes cause the transactions to go awry, a kind of market failure in the worst case
Define Network economics
A situation in which a business will benefit through the feedback provided by those who use the product or service. Network economics is a product of the network effect, whereby an increase in the value of a good or service increases as the number of buyers or subscribers multiplies. For example, online communities like LinkedIn and Twitter continually evolve with respect to their service offerings, providing a wider set of products as their online communities continue to grow.
Define Accountability (2013)
The obligation of an individual or organization to account for its activities, accept responsibility for them, and to disclose the results in a transparent manner. It also includes the responsibility for money or other entrusted property.
Electronic payment system
An e-payment system is a way of making transactions or paying for goods and services through an electronic medium, without the use of checks or cash. It’s also called an electronic payment system or online payment system. E.g. PayPal, Google Wallets, Stripe
Define Business process reengineering (2014)
Business process reengineering is the act of recreating a core business process with the goal of improving product output, quality, or reducing costs.Typically, it involves the analysis of company workflows, finding processes that are sub-par or inefficient, and figuring out ways to get rid of them or change them.
Define Agency Cost Thoery.
Agency costs usually refers to the conflicts between shareholders and their company’s managers. A shareholder wants the manager to make decisions which will increase the share value. Managers, instead, would prefer to expand the business and increase their salaries, which may not necesarrily increase share value.
Define Computer forensics
Computer forensics is the practice of collecting, analysing and reporting on digital data in a way that is legally admissible. It can be used in the detection and prevention of crime and in any dispute where evidence is stored digitally. Computer forensics follows a similar process to other forensic disciplines, and faces similar issues.
Define Digital forensics
Digital forensics involves the investigation of computer-related crimes with the goal of obtaining evidence to be presented in a court of law. The goal of computer forensics is to perform a structured investigation while maintaining a documented chain of evidence to find out exactly what happened on a computing device and who was responsible for it.
What is EDI? (2014/Nagarjuna /Thames )
Electronic Data Interchange (EDI) is the computer-to-computer exchange of business documents in a standard electronic format between business partners. An EDI message contains a string of data elements, each of which represents a singular fact, such as a price, product model number
What Is Enterprise Resource Planning (ERP)? (Asian)
Enterprise resource planning (ERP) is a process whereby a company manages and integrates the important parts of its business. Many ERP software applications exist to help companies implement resource planning by integrating all of the processes it needs to run a company into a single system. An ERP software system can integrate planning, purchasing inventory, sales, marketing, finance, human resources, and more.
What is Core Competency?
Core competency is a unique skill or technology that creates distinct customer value.Core competencies help an organization to distinguish its products from it’s rivals as well as to reduce its costs than its competitors and thereby attain a competitive advantage. It helps in creating customer value. Also, core competencies help in creating and developing new goods and services. Core competencies decide the future of the organization
Define Critical success factor (CSF)
Critical success factor (CSF) is a management term for an element that is necessary for an organization or project to achieve its mission. Critical success factors are elements that are vital for a strategy to be successful.A critical success factor drives the strategy forward, it makes or breaks the success of the strategy (hence “critical”).
Define Decision support systems (DSS). (NCC ,KCMIT /Morgan 2018)
Decision support systems (DSS) are interactive software-based systems intended to help managers in decision-making by accessing large volumes of information generated from various related information systems involved in organizational business processes, such as office automation system, transaction processing system, etc.
Customer-centric is an approach to doing business that focuses on providing a positive customer experience both at the point of sale and after the sale in order to drive profit and gain competitive advantage.
Define computer-based information system
Computer-based information system is an information system in which the data is mostly collected, stored, and processed in digital format using computerized processes. Similarly, the information is delivered in digital format via computerized mechanisms.
four basic types of computer-based information Systems:
- Transaction Processing Systems (TPS)
- Management Information Systems (MIS)
- Decision Support Systems (DSS)
- Executive Support Systems (ESS)
What is Supply Chain Management (SCM).
Supply chain management is the management of the flow of goods and services and includes all processes that transform raw materials into final products. It involves the active streamlining of a business’s supply-side activities to maximize customer value and gain a competitive advantage in the marketplace.
What is Intellectual Property?(Thames )
Intellectual property (IP) refers to creations of the mind, such as inventions; literary and artistic works; designs; and symbols, names and images used in commerce.IP is protected in law by, for example, patents, copyright and trademarks, which enable people to earn recognition or financial benefit from what they invent or create.
Prototyping refers to an initial stage of a software release in which developmental evolution and product fixes may occur before a bigger release is initiated. These kinds of activities can also sometimes be called a beta phase or beta testing, where an initial project gets evaluated by a smaller class of users before full development
What is B2C eCommerce ? (Thames )
B2C, or business-to-consumer, is a term used to describe a commerce transaction between a business and an end consumer. Traditionally, the term was used to refer to any type of process of selling products directly to consumers, including shopping in-store or eating in a restaurant, but is now more commonly used to describe transactions between online retailers and their customers.
Prime /Thames /Hetuada 2019
|Business Process Management||Business Process Reengineering|
|Automates and reuses the existing processes||Recreates processes from the scratch|
|Risk is low||Risk is high|
|Change is continuous||One big and radical change is done|
|Time taken for implementation is comparatively less||It takes lot of time to be implemented|
|Business and IT collaboration is must||Business and IT collaboration is optional|
An executive information system (EIS) is a decision support system (DSS) used to assist senior executives in the decision-making process. It does this by providing easy access to important data needed to achieve strategic goals in an organization.
Define E-business . (KCMIT 2019)
E-business is similar to e-commerce, but it goes beyond the simple buying and selling of products and services online. E-business includes a much wider range of businesses processes, such as supply chain management, electronic order processing and customer relationship management.
Define Feedback & control.
A management system that regularly examines the process it is in charge of in order to make changes that will improve its output efficiency. Many business operations that include modern manufacturing facilities have implemented feedback control systems to monitor and fine tune the productionprocess.
What is Business Process Reengineering ? (KIST/SDC 2018)
Business process reengineering is the act of recreating a core business process with the goal of improving product output, quality, or reducing costs.
Enterprise Application Integration(St Xavier 2019)
The unlimited sharing of data and business processes among other connected applications and data sources in the enterprise.” It Keeps track of information related to the operations of the enterprise e.g. Inventory, sales ledger and execute the core processes that create and manipulate this information
Define Batch Processing.
Batch Processing is the process by which a computer completes batches of jobs, often simultaneously, in non-stop, sequential order. It’s also a command that ensures large jobs are computed in small parts for efficiency during the debugging process.
Define cross-function enterprise system.
cross-function enterprise system is view as a strategic way to share information resources and improve the efficiency and effectiveness of business processes, and develop strategic relationships with customers, suppliers, and business partners. This system are integrated by enterprise resource planning (ERP), supply chain management (SCM), and customer relationship management (CRM).
Data can be defined as groups of non-random symbols (words, values, figures) which represent things that have happened. ata are derived from both external and internal sources
Define Business Process Automation (BPA).
Business Process Automation (BPA) is a process of managing information, data and processes to reduce costs, resources and investment. BPA increases productivity by automating key business processes through computing technology.
Define low-cost producer.
A low-cost producer is a company that can provide goods or services at a low cost. In general, low-cost producers utilize economies of scale in order to execute their strategy of low prices. Consumers that are sensitive to price changes will more likely shop at the stores that offer the lowest prices, if the good or service is relatively homogeneous.
Define virtual company. (Asian /SDC 2018)
An organization that uses computer and telecommunications technologies to extend its capabilities by working routinely with employees or contractors located throughout the country or the world. Using email, faxes, instant messaging, data and videoconferencing, it implies a high degree of telecommuting as well as using remote facilities.
- Strategies of virtual companies
- Share infrastructure & risk with alliance partners
- Increase market coverage & facilities
- Migrate from selling products to selling solutions
- Gain access to new markets
- Customer loyalty
|Data Mining||Data Warehouse|
|Data mining is the process of analyzing unknown patterns of data.||A data warehouse is database system which is designed for analytical instead of transactional work.|
|Data mining is a method of comparing large amounts of data to finding right patterns.||Data warehousing is a method of centralizing data from different sources into one common repository.|
|Data mining is usually done by business users with the assistance of engineers.||Data warehousing is a process which needs to occur before any data mining can take place.|
|Data mining is the considered as a process of extracting data from large data sets.||On the other hand, Data warehousing is the process of pooling all relevant data together.|
|One of the most important benefits of data mining techniques is the detection and identification of errors in the system.||One of the pros of Data Warehouse is its ability to update consistently. That’s why it is ideal for the business owner who wants the best and latest features.|
Define Agile company (2018 IMS/ St xavier)
A form of organization that uses telecommunications networks and other information technologies to link the people, assets, and ideas of a variety of business partners, no matter where they may be, to exploit a business opportunity.
Value chain analysis (VCA || IMS 2018)
IT is a process where a firm identifies its primary and support activities that add value to its final product and then analyze these activities to reduce costs or increase differentiation.
Morgan International College 2019
A hypermedia database is a computer information retrieval system that allows a user to access and work on audio-visual recordings, text, graphics and photographs of a stored subject. The World Wide Web is a perfect example of a hypermedia database.
- List the task System Analysts
System Analysts are responsible for maintaining and improving computer systems for an organisation and its clients.
- Maintaining and upgrading existing systems as required
- Designing new computer systems and frameworks
- Troubleshooting technical issues
- Risk mitigation planning
- Collaborating with Business Analysts, Project Leads and IT team to resolve issues
- Running training sessions and workshops on system processes
- Define What-if Analysis. (NCC)
What-if Analysis consists of a process of determining the effects on outcomes in a model through changes in input
- List the task performed by Marketing Unit.
- Monitoring and managing social media
- Conducting customer and market research.
- Defining and managing your brand.
- Conducting campaign management for marketing initiatives.
- Producing marketing and promotional materials.
Nepal commerce Campus 2019
Define Knowledge management (Asian 2019)
Knowledge management is a highly iterative process which consists of six major tasks like create, capture,
refine store, tag and circulate. The first step is to create or capture data and store it at appropriate location. The second step is to refine the data into meaningful information. The third step is to transmit information to relevant stakeholders..
Define OLTP (online transaction processing)
OLTP (online transaction processing) is a class of software programs capable of supporting transaction-oriented applications on the Internet.Typically, OLTP systems are used for order entry, financial transactions, customer relationship management (CRM) and retail sales. Such systems have a large number of users who conduct short transactions. Database queries are usually simple, require sub-second response times and return relatively few records.
Define Switching costs .
Switching costs are the costs that result from switching to a new product or a new service. witching costs can include early termination costs, the amount of time and effort to switch, all learning costs required to understand the new product or service, cash outlays for switching, and even the emotional discomfort caused by switching.
TQM stands for total quality management. A core definition of total quality management (TQM) describes a management approach to long-term success through customer satisfaction.
- Customer-focused ,Total employee involvement ,Process-centered ,Continual improvement
- Decision-making based on facts
Define ERP. (Asian /SDC 2019)
ERP means enterprise resource planning. It is a large system allowing companies to manage their information properly, facilitate information sharing, business planning.
ERP is very helpful in the follwoing areas −
- Business integration and automated data update
- Linkage between all core business processes and easy flow of integration
- Flexibility in business operations and more agility to the company
- Better analysis and planning capabilities
- Critical decision-making
- Competitive advantage
- Use of latest technologies
Define data warehousing.
A data warehousing is a technique for collecting and managing data from varied sources to provide meaningful business insights. It is a blend of technologies and components which allows the strategic use of data.
Orchid International College 2019
5 benefits of using an intranet
· Easily share information
· Knowledge management
· Improve collaboration and feedback
· Create engaging content
Extract Transform Load (ETL), which refers to a trio of processes required to move raw data from its source to a data warehouse or a database.
- Enhanced Business Intelligence
- Increased query and system performance:
- Timely access to data:
- High Return on Investment (ROI)
- Visual Flow
Define An Enterprise Collaboration System (ECS)
An Enterprise Collaboration System (ECS) is an information system used to facilitate efficient sharing of documents and knowledge between teams and individuals in an enterprise. Enterprise collaboration enables employees in an organization to share information with one another and work together on projects from different geographic locations through a combination of software technologies,
Sensitivity Analysis Models (KCMIT 2019)
These are used to provide answers to what-if situations occurring frequently in an organization.
During the analysis, the value of one variable is changed repeatedly and resulting changes on other variables are observed. The sale of product, for example, is affected by different factors such as price, expenses on advertisements, number of sales staff, productions etc.