Technology – Impact on Our Lives
Information technology– processes and applications that create new methods to solve problems, perform tasks, and manage communication.
Technology – the application of knowledge, including the processes and procedures to solve problems, perform tasks, and create new methods to obtain desired outcomes
Technology is the driving force in advancing economic systems and the quality of life.
Information Technology (IT) is changing traditional products.
Technology Impact
•Improved global access
•Faster productivity growth
•Improved efficiency
•Reduced costs
Managing Information
Data – numerical or verbal descriptions related to statistics or other items that have not been analyzed or summarized
Knowledge – an understanding of data gained through study or experience.
Information – meaningful and useful interpretation of data and knowledge that can be used in making decisions.
Management Information Systems
Management information system (MIS) – used for organizing and transmitting data into information that can be used for decision making.
•Breaks down time and location barriers
•Global information access
•Anytime, anywhere with wireless
Management Information Systems
•Collect data
•Store data
•Update data
•Process and present information
The Internet
Internet – Global information system than links many computer networks together.
Database -- A collection of data stored in one place and accessible throughout the network.
World Wide Web – a collection of interconnected Web sites or pages of text, graphics, audio, and video within the Internet.
Intranet– a network of computers similar to the Internet that is available only to people inside an organization.
Extranet– a network of computers that permits selected companies and other organizations to access the same information and may allow collaboration and communication about the information
E-Business
E-Business – carrying out the goals of business through utilization of the internet.
•Business-to-Business (B2B)
•Business-to-Consumer (B2C)
•Consumer-to-Consumer (C2C)
B2B– use of the Internet for transactions and communications between organizations.
B2C– delivery of products and services directly to individual consumers through the Internet (e-tailers).
C2C– market in which consumers market goods and services to each other through the Internet.
Customer Relationship Management
•CRM – focuses on using information about customers to crate strategies that develop and sustain desirable long-term customer relationships.
•Developing long-term customer relationships
•Building satisfying relationships
•Provide the best product solution for customers
Legal and Social Issues
•Privacy
•Consumer tracking via Internet purchases
•Data gathering via “cookies”
•Federal Trade Commission (FTC)
•Spam – unsolicited commercial e-mail.
racking via Internet purchases
racking via Internet purchases
•Data gathering via “cookies”
•Federal Trade Commission (FTC)
•Identity Theft – criminals obtain personal information allowing them to impersonate others in order to use their credit to obtain financial accounts and make purchases.
•258,427 cases reported in 2007
Intellectual Property & Copyrights– protecting rights to property including:
•Songs
•Movies
•Books
•Software
•Ideas, creative materials
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