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advertising model
digital business model that generates revenue through targeted ads purchased by other businesses
affiliate model
digital business model in which one company earns commissions by promoting and selling other companies’ products or services through websites or social media channels
analytic data
type of structured datathat include aggregated and summarized data from various sources and enables in-depth analysis, reporting, and decision support
big data
large datasets that are complex in volume, variety, veracity, and volume and that require specialized processing techniques to extract valuable insights and make informed decisions
business process
continuous series of interconnected activities aimed at producing a valuable product or service for an organization, its business partners, and its customers
business process improvement (BPI)
evaluation of existing business processes to identify areas for improvement
business process management (BPM)
ongoing review and analysis of processes across an organization to identify opportunities for improvements or reengineering that will optimize core business processes
business process reengineering (BPR)
radical rebuilding of core business processes to achieve optimization
competitive advantage
conditions and circumstances that enable a company to compete more effectively than its rivals in a given market
crowdfunding model
digital business model that raises funds for a product, project, or idea through an online platform, leveraging the collective support of the public
data definition
instruction for how to organize information
data governance
policies, procedures, and standards that determine how an organization manages the availability, usability, integrity, and security of an organization’s data throughout the data life cycle
data integrity
accuracy and consistency of data throughout their entire life cycle
decision-making framework
breaks down decisions into two types: programmed decisions with clear procedures or nonprogrammed decisions requiring more judgment
design thinking
approach to problem solving that uses creativity and empathy to understand user needs in order to create user-centric products and services
digital innovation
perspective of management information systems that examines how the combination of physical and digital products leads to the creation of entirely new offerings
digital product model
digital business model offering downloadable digital assets that may include actual products, such as e-books, or may be used to provide information such as assembly instructions or details about a product’s components
e-commerce model
digital business model that involves buying and selling goods or services online through websites or apps, and offers convenient shopping experience for various customer segments
freemium model
digital business model offering a free basic service, with the option to upgrade to a premium version for enhanced features or benefits
functional area information system (FAIS)
information system designed to support specific business functions within an organization
information quality
accuracy, completeness, consistency, and timeliness of data
marketplace model
digital business model that brings buyers and sellers together on a single platform, with the enterprise acting as an intermediary that facilitates transactions between parties
master data
type of structured data that represent core entities such as customers, products, or employees
operational data
type of structured data that include transactional data generated by day-to-day business operations
reference data
type of structured data that include codes, classifications, or standards used across the organization
Robert Anthony framework
divides a problem, and by extension the data needed to resolve this problem, into three domains: operational control, management control, and strategic planning
sharing economy model
digital business model in which individuals share resources or services through a peer-to-peer network, enabling efficient utilization of underused assets
strategic planning
process of defining an organization's mission, vision, goals, and objectives, and developing strategies to achieve them, often with the support of information systems, typically done by senior level managers
subscription model
digital business model offering continuous value through recurring subscriptions that provide customers with ongoing premium content or services
variety
key dimension of big datathat encompasses the diverse array of data types and formats
velocity
key dimension of big data that describes the rapid pace at which data are generated and collected, thereby necessitating real-time processing
veracity
key dimension of big data that refers to the reliability, accuracy, and trustworthiness of the data, considering factors like data quality and consistency
volume
key dimension of big data that refers to the vast amount of data generated and stored
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