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Regression is a statistical method used to analyze the relationship between one dependent variable and one or more independent variables. | https://openstax.org/books/foundations-information-systems/pages/8-summary |
Decision trees split the dataset into subsets based on the most significant attribute at each step. | https://openstax.org/books/foundations-information-systems/pages/8-summary |
Clustering models group similar data points into clusters based on certain features or characteristics. | https://openstax.org/books/foundations-information-systems/pages/8-summary |
Analysts need to consider ethical and social considerations and ensure compliance with privacy regulations and protect sensitive information. | https://openstax.org/books/foundations-information-systems/pages/8-summary |
Using these techniques in the decision-making process can lead to greater chances of success in business. | https://openstax.org/books/foundations-information-systems/pages/8-summary |
Web analytics is a powerful tool that provides valuable insights through the collection, measurement, analysis, and reporting of data related to website usage and user interactions. | https://openstax.org/books/foundations-information-systems/pages/8-summary |
Web analytics tools collect data through page tagging, log file analysis, JavaScript events, and cookies. | https://openstax.org/books/foundations-information-systems/pages/8-summary |
Businesses leverage various web analytics techniques to enhance site visibility and drive sales, highlighting the pivotal role of data-driven insights in optimizing online strategies and fostering customer engagement for improved performance. | https://openstax.org/books/foundations-information-systems/pages/8-summary |
Web analytics tools provide insight into customer behavior, opportunities for improvement, and bounce rates. | https://openstax.org/books/foundations-information-systems/pages/8-summary |
Incorporating SEO into an organizationâs web analytics strategy enhances visibility and drives organic traffic by optimizing keywords, improving site rankings, and analyzing user engagement metrics for targeted content refinement. | https://openstax.org/books/foundations-information-systems/pages/8-summary |
adaptive development approach : development approach that provides a framework that enables project team members to repeat the processes of cycle planning and task initiation as needed | https://openstax.org/books/foundations-information-systems/pages/9-key-terms |
Agile project management : type of project management that involves taking an iterative and incremental approach to delivering projects | https://openstax.org/books/foundations-information-systems/pages/9-key-terms |
change management process : proper procedure for stakeholders to change or modify the scope of the project | https://openstax.org/books/foundations-information-systems/pages/9-key-terms |
contingency plan : outlines the actions you would take if a risky event occurred | https://openstax.org/books/foundations-information-systems/pages/9-key-terms |
escalation policy : determines when the project manager should report budget issues, such as being under or over budget | https://openstax.org/books/foundations-information-systems/pages/9-key-terms |
extreme programming (XP) : Agile methodology that emphasizes the use of software engineering practices to improve quality and responsiveness | https://openstax.org/books/foundations-information-systems/pages/9-key-terms |
incremental development approach : development approach that enables a project to be divided into parts, or increments, that work together and build on each other | https://openstax.org/books/foundations-information-systems/pages/9-key-terms |
Kanban : Agile framework that helps managers visualize and optimize the flow of work through a visual representation of the tasks and how they flow through the project | https://openstax.org/books/foundations-information-systems/pages/9-key-terms |
portfolio management : centralized management of a set of projects grouped together to identify, prioritize, authorize, and control the related work | https://openstax.org/books/foundations-information-systems/pages/9-key-terms |
predictive development approach : development approach useful for projects that have specific requirements with well-defined goals and objectives | https://openstax.org/books/foundations-information-systems/pages/9-key-terms |
PRINCE2 (Projects in Controlled Environments) : project management methodology and certification process that is widely recognized around the world | https://openstax.org/books/foundations-information-systems/pages/9-key-terms |
program management : coordinated organization, direction, and implementation of a group of related projects to achieve outcomes and realize benefits that are strategically important to the business | https://openstax.org/books/foundations-information-systems/pages/9-key-terms |
project : temporary initiative or endeavor to create a product, service, or result that has a beginning and end date | https://openstax.org/books/foundations-information-systems/pages/9-key-terms |
project charter : formal document that authorizes project initiation | https://openstax.org/books/foundations-information-systems/pages/9-key-terms |
project closure : stage at which the project comes to a formal conclusion, ensuring that all project objectives are met and deliverables are handed over | https://openstax.org/books/foundations-information-systems/pages/9-key-terms |
project development : process of planning a project and ensuring that it has the resources necessary to successfully achieve its goals and objectives | https://openstax.org/books/foundations-information-systems/pages/9-key-terms |
project execution : stage that involves implementing the project plan, managing resources, and monitoring progress | https://openstax.org/books/foundations-information-systems/pages/9-key-terms |
project initiation : stage at which a project is created and involves defining its purpose, objectives, and stakeholders | https://openstax.org/books/foundations-information-systems/pages/9-key-terms |
project life cycle (PLC) : development, monitoring, and control of a project | https://openstax.org/books/foundations-information-systems/pages/9-key-terms |
project management : use of specific knowledge, skills, tools, and techniques to provide guidance through each stage of a project | https://openstax.org/books/foundations-information-systems/pages/9-key-terms |
Project Management Body of Knowledge (PMBOK) : guide for handling projects using a systematic methodology and proven processes for initiating, planning, executing, managing, monitoring, and closing a project | https://openstax.org/books/foundations-information-systems/pages/9-key-terms |
Project Management Institute (PMI) : accrediting body for the project management process that certifies project managers, program managers, and portfolio managers | https://openstax.org/books/foundations-information-systems/pages/9-key-terms |
project management office (PMO) : department within an organization that provides the standards and guidelines to project managers for projects and governs how projects are initiated, planned, organized, implemented, managed, and closed | https://openstax.org/books/foundations-information-systems/pages/9-key-terms |
project manager (PM) : person who applies knowledge of project management and uses various tools and techniques to initiate, plan, execute, monitor, control, and close projects | https://openstax.org/books/foundations-information-systems/pages/9-key-terms |
resource planning : task of determining what resources are needed and when they will be needed for the project | https://openstax.org/books/foundations-information-systems/pages/9-key-terms |
risk : event or condition that has a negative effect should it occur during a project | https://openstax.org/books/foundations-information-systems/pages/9-key-terms |
risk management : process that encompasses risk identification, qualitative and quantitative analysis, risk response planning, and risk monitoring and control | https://openstax.org/books/foundations-information-systems/pages/9-key-terms |
risk register : document in which the results of risk analysis and risk response planning are recorded | https://openstax.org/books/foundations-information-systems/pages/9-key-terms |
scope : deliverables, objectives, and requirements of the project | https://openstax.org/books/foundations-information-systems/pages/9-key-terms |
scope creep : scope of the project grows beyond what was agreed to in the planning stage of the project as requirements are changed or modified | https://openstax.org/books/foundations-information-systems/pages/9-key-terms |
scrum : Agile framework that focuses on delivering value through small, cross-functional teams working in sprints, and the product backlog contains a prioritized list of user stories or features | https://openstax.org/books/foundations-information-systems/pages/9-key-terms |
scrum master : leader of the scrum meeting | https://openstax.org/books/foundations-information-systems/pages/9-key-terms |
stakeholder analysis : review and evaluation of each stakeholder, their background, expertise, and impact on the project | https://openstax.org/books/foundations-information-systems/pages/9-key-terms |
statement of work : document detailing the requirements, deliverables, schedule, and responsibilities of the stakeholders of a project to establish a clear understanding of what the project entails | https://openstax.org/books/foundations-information-systems/pages/9-key-terms |
work breakdown structure (WBS) : process that helps the project manager understand how the deliverables will be scheduled and any dependencies there might be in completing other deliverables, essentially breaking down a project into smaller, more manageable work packages and tasks | https://openstax.org/books/foundations-information-systems/pages/9-key-terms |
Project management is a multidisciplinary way of ensuring that projects are on time, within budget, and in scope, and that deliverables are of good quality and risks are minimal. | https://openstax.org/books/foundations-information-systems/pages/9-summary |
There are many different project management methodologies, but three of the most well documented are PMBOK (waterfall), Agile, and PRINCE2. | https://openstax.org/books/foundations-information-systems/pages/9-summary |
The three most commonly used approaches for project development include predictive, adaptive, and incremental. | https://openstax.org/books/foundations-information-systems/pages/9-summary |
There are many tools and processes within project management including how to handle stakeholders, review of deliverables, assignment of resources and assets, planning and budgeting for projects, execution strategies, and lessons learned. | https://openstax.org/books/foundations-information-systems/pages/9-summary |
There are five stages of a project, and various tasks within each stage make up the project management framework. They are (1) project initiation, (2) project planning, (3) project execution, (4) monitoring and control, and (5) project closure. | https://openstax.org/books/foundations-information-systems/pages/9-summary |
It is important to develop a comprehensive project plan and schedule. This phase of the project involves several key steps, each of which plays a significant role in shaping the projectâs direction and facilitating efficient execution. | https://openstax.org/books/foundations-information-systems/pages/9-summary |
A WBS helps identify project tasks, dependencies, timelines, and resources needed. | https://openstax.org/books/foundations-information-systems/pages/9-summary |
Effective risk assessment is crucial for managing successful project outcomes. | https://openstax.org/books/foundations-information-systems/pages/9-summary |
A risk assessment is based on defining the risks to a project, evaluating the risks, assigning risk responsibility, and determining the risk mitigation strategy. | https://openstax.org/books/foundations-information-systems/pages/9-summary |
There are project managers in many different career paths like business, health care, IT, education, manufacturing, logistics, and more. | https://openstax.org/books/foundations-information-systems/pages/9-summary |
Project management is a field or career where having a specialty area like health care or manufacturing can be an advantage. | https://openstax.org/books/foundations-information-systems/pages/9-summary |
Most positions require a bachelorâs degree with experience or knowledge of project management. | https://openstax.org/books/foundations-information-systems/pages/9-summary |
Obtaining a certification in project management will help increase your salary as a project manager and further your career path. | https://openstax.org/books/foundations-information-systems/pages/9-summary |
augmented reality (AR) : technology that overlays digital information onto a user's environment in real time | https://openstax.org/books/foundations-information-systems/pages/10-key-terms |
blockchain : shared, immutable ledger that facilitates the process of recording transactions and tracking assets | https://openstax.org/books/foundations-information-systems/pages/10-key-terms |
business process outsourcing (BPO) : service industry that supports outsourcing business service operations to third-party vendors | https://openstax.org/books/foundations-information-systems/pages/10-key-terms |
convergence : joining of two or more different entities; in the context of computing and technology, into a single device or system | https://openstax.org/books/foundations-information-systems/pages/10-key-terms |
cryptography : process of hiding or coding information so that only the intended recipient can read it | https://openstax.org/books/foundations-information-systems/pages/10-key-terms |
emerging technology : software or hardware that enhances the user experience by obtaining or using information and data in new and exciting ways; can be used to describe new technologies or the continuing development of existing technologies | https://openstax.org/books/foundations-information-systems/pages/10-key-terms |
enterprise modeling and integration (EMI) : process that uses computer-based tools to model the business structure and facilitate the connection of its technology, work, and information flow across an organization | https://openstax.org/books/foundations-information-systems/pages/10-key-terms |
generative AI : type of artificial intelligence that creates new content or ideas in the form of text, images, videos, music, audio, and other forms of data | https://openstax.org/books/foundations-information-systems/pages/10-key-terms |
information economics : branch of microeconomics that analyzes how economic decisions and consumer behaviors are influenced by knowledge and power | https://openstax.org/books/foundations-information-systems/pages/10-key-terms |
information systems frontiers : latest developments in the field of information systems, exploring new research areas, innovative applications, and emerging technologies that have the potential to significantly impact the field | https://openstax.org/books/foundations-information-systems/pages/10-key-terms |
machine learning : use of algorithms and models that enable machines to learn from or make decisions about data without specific programming | https://openstax.org/books/foundations-information-systems/pages/10-key-terms |
mobile computing : strategies, technologies, products, and services that enable users to access information without restricting the user to a single geographic location | https://openstax.org/books/foundations-information-systems/pages/10-key-terms |
natural language processing : teaching machines to understand and generate human language; involves tasks such as speech recognition, text analysis, and language translation to build this understanding | https://openstax.org/books/foundations-information-systems/pages/10-key-terms |
quantum computing : use of quantum mechanics principles to perform complex calculations exponentially faster than traditional computers | https://openstax.org/books/foundations-information-systems/pages/10-key-terms |
robotics : branch of engineering and computer science that involves the conception, design, building, and operation of robots, creating intelligent machines that can assist humans with a variety of tasks | https://openstax.org/books/foundations-information-systems/pages/10-key-terms |
self checkout (SCO) : machines enabled with artificial intelligence technology, product images, barcodes, and other mechanisms for customers to complete purchases | https://openstax.org/books/foundations-information-systems/pages/10-key-terms |
virtual reality (VR) : computer-generated environments that simulate reality and allow users to interact with three-dimensional environments | https://openstax.org/books/foundations-information-systems/pages/10-key-terms |
Emerging technology is defined as software or hardware that enhances the user experience by obtaining or using information and data in new and compelling ways. It includes novel technologies and the continuing development of existing technologies. | https://openstax.org/books/foundations-information-systems/pages/10-summary |
Emerging technology can be found in many areas including education, information technology, and AI, and continues to have great potential to provide synergies with other technologies of similar or different functionalities. | https://openstax.org/books/foundations-information-systems/pages/10-summary |
Characteristics of an emerging technology include its novelty or newness, rapid advancement, and disruptive potential. | https://openstax.org/books/foundations-information-systems/pages/10-summary |
Emerging technologies may be developed from a combination of private and/or public entities, such as government agencies and educational institutions. | https://openstax.org/books/foundations-information-systems/pages/10-summary |
Blockchain, AI, AR, and VR are all real-world applications of emerging technologies. | https://openstax.org/books/foundations-information-systems/pages/10-summary |
Opportunities, challenges, and risks are apparent with these technologies and should be considered for each technology. | https://openstax.org/books/foundations-information-systems/pages/10-summary |
Frontiers of information systems are the latest developments in the field of information systems. | https://openstax.org/books/foundations-information-systems/pages/10-summary |
IS frontiers explore new research areas, innovative applications, and emerging technologies that have the potential to significantly impact the field. | https://openstax.org/books/foundations-information-systems/pages/10-summary |
The convergence of IS frontiers and emerging technologies provides opportunities for two or more of these technologies, like AI and data analytics, to converge, which can help organizations analyze vast amounts of data in real time and inform decision-making. | https://openstax.org/books/foundations-information-systems/pages/10-summary |
The opportunities, challenges, and risks associated with these information systems continue to evolve as they are further integrated for business and personal use. | https://openstax.org/books/foundations-information-systems/pages/10-summary |
Emerging technologies can have far-reaching societal and global consequences. | https://openstax.org/books/foundations-information-systems/pages/10-summary |
The emergence of innovative technologies, such as AI-enabled customer service systems in banking, SCO machines, e-commerce-enabled websites, and solar power, has revolutionized societal interactions and affected worldwide change in economy, culture, public policy, public services, health, and the environment. | https://openstax.org/books/foundations-information-systems/pages/10-summary |
Data analytics tools and techniques are being applied in all aspects of society, helping organizations to leverage their functionality to support business processes. | https://openstax.org/books/foundations-information-systems/pages/10-summary |
Emerging technologies and innovations are expected to continue to grow globally to include data analytics, IoT, and others, with solution and service gains in the banking, financial services, and insurance sector, health care, telecommunications, and information technology. | https://openstax.org/books/foundations-information-systems/pages/10-summary |
Research is a precursor to innovation, and it begins with a broad idea and ends with the dissemination of findings. The idea, or concept, evolves through specific process steps to where it will be available for market use. | https://openstax.org/books/foundations-information-systems/pages/10-summary |
Emerging technologies will continue to evolve and so will be of great importance in research and development. As the field continues to evolve, new questions will arise, and researchers will need to work together to find answers. | https://openstax.org/books/foundations-information-systems/pages/10-summary |
cross-functional enterprise : organization that breaks down departmental silos and fosters collaboration between different functions (such as marketing, finance, and IT) to achieve common goals | https://openstax.org/books/foundations-information-systems/pages/11-key-terms |
culture : beliefs, behaviors, values, norms, symbols, and practices shared by a group or organization | https://openstax.org/books/foundations-information-systems/pages/11-key-terms |
data interoperability : ability of diverse data systems or formats to exchange, integrate, and interpret data accurately and efficiently | https://openstax.org/books/foundations-information-systems/pages/11-key-terms |
e-business model : strategies and structures that businesses use to operate and generate revenue online | https://openstax.org/books/foundations-information-systems/pages/11-key-terms |
geographic context : impact of location on operations | https://openstax.org/books/foundations-information-systems/pages/11-key-terms |
global e-business : use of electronic communication and digital technologies to conduct business on a worldwide scale | https://openstax.org/books/foundations-information-systems/pages/11-key-terms |
global enterprise strategy : comprehensive plan outlining how an organization will achieve its goals and objectives in a global marketplace | https://openstax.org/books/foundations-information-systems/pages/11-key-terms |
global information system : intricate network of hardware, software, data, and telecommunications infrastructure that enables information collection, storage, management, processing, analysis, and dissemination worldwide | https://openstax.org/books/foundations-information-systems/pages/11-key-terms |
global information system infrastructure : foundational framework of hardware, software, data storage, network, and cloud-based services that supports global information system operations within an organization | https://openstax.org/books/foundations-information-systems/pages/11-key-terms |
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