COB 204 Questions with Complete Solutions
E-mail and Automated Response - Answer-the most popular tool for customer service, inexpensive, fast, and companies use email not only to answer customer inquiries but also to disseminate information, send alerts and product information, and conduct cor...
E-mail and Automated Response - Answer-the most popular tool for customer service,
inexpensive, fast, and companies use email not only to answer customer inquiries but
also to disseminate information, send alerts and product information, and conduct
correspondence on any topic (notifications about orders)
Loyalty Programs - Answer-programs that recognize customers who repeatedly use a
vendor's products or services
Assessing the Costs - Answer-calculating the dollar value of IT investments is not as
simple as it may seem. One of the major challenges -> allocating fixed costs among
different IT projects (straightforward)
Fixed Costs - Answer-those costs that remain the same regardless of any change in the
company's activity level (e.g., costs associated with infrastructure, IT services, and IT
management)
Assessing the Benefits - Answer-benefits may be more difficult to quantify, especially
because many of them are intangible (not tangible or countable)
4 Common Approaches for Cost-Benefit Analysis - Answer-1. Net Present Value
2. Return on Investment (ROI)
3. Breakeven Analysis
4. Business Case Approach
Net Present Value - Answer-analysts use the net present value (NPV) method to
convert future values of benefits to their present-value equivalent by "discounting" them
at the organization's cost of funds. They can then compare the present value of the
future benefits with the cost required to achieve those benefits to determine whether the
benefits exceed the costs
Transaction Processing System (TPS) - Answer-supports the monitoring, collection,
storage, and processing of data from the organization's basic business transactions,
each of which generates and collects data continuously, in real time
Transaction - Answer-any business event that generates data worthy of being captured
and stored in a database (e.g., product manufactured, a service sold, a person hired,
and a payroll check generated)
, Source Data Automation - Answer-a process in which organizations try to automate the
TPS data entry as much as possible because of the large volume involved
Batch Processing - Answer-the firm collects data from transactions as they occur,
placing them in groups or batches then prepares and processes the batches periodically
Online Transaction Processing (OLTP) - Answer-business transactions are processed
online as soon as they occur and system performs these tasks in real time by means of
online technologies
Functional Area Information Systems - Answer-initially built to support its given areas,
but it is all the same when it goes to the ERP
Return on Investment (ROI) - Answer-measures management's effectiveness in
generating profits with its available assets. ROI is calculated by dividing the net income
generated by a project by the average assets invested in the project. ROI is a
percentage, and the higher the percentage return, the better
Breakeven Analysis - Answer-determines the point at which the cumulative dollar value
of the benefits from a project equals the investment made in the project
Business Case Approach - Answer-system developers write a business case to justify
funding one or more specific applications or projects. IS professionals will be a major
source of input when business cases are developed because these cases describe
what you do, how you do it, and how a new system could better support you
Purchase of a Prewritten Application - Answer-many commercial software packages
contain the standard features required by IT applications. Therefore, purchasing an
existing package can be a cost-effective and time-saving strategy compared with
custom-developing the application in-house
Customize a Prewritten Application - Answer-customize existing software is an
especially attractive option if the software vendor allows the company to modify the
application to meet its needs. However, this option may not be attractive in cases where
customization is the only method of providing the necessary flexibility to address the
company's needs. It also is not the best strategy when the software is either very
expensive or likely to become obsolete in a short time
Lease the Application - Answer-compared with the buy option and the option to develop
applications in-house, the lease option can save a company both time and money.
Leased packages (like purchased packages) may not exactly fit the company's
application requirements. Leasing can be especially attractive to small and medium-
sized enterprises (SMEs) that cannot afford major investments in IT software
Wireless - Answer-without wires
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