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INFORMATION :lock: - Coggle Diagram
INFORMATION :lock:
Three Lenses for IT Strategy
Value Chain :mag:
A series of linked activities that the firm
performs, each of which preferably adds value that your customers are prepared to pay
IT can transform the value chain into steps
and linkages
Competitive Litmus Test :microscope:
analyze the firm’s IT assets to identify whether the IT assets have sustainable
competitive advantages
Five Forces Model :telescope:
The 5 factors are
threat of new entrants, fierceness of competition, customer’s bargaining power,
suppliers bargaining power, and threat of substitutes
Human Obsession with Prediction
Assumption means the past behaviour reasonably predicts the future.
A good predictions need sound data and sound models
Sound Data
Data (raw facts), information (sorted, condensed, and contextualized), and insight (actionable information)
Sound Reasoning
The business apps transform from data to information and then knowledge.
Apps are models that translated into the software code
The arrival of "Big" Data with 2 opportunities
Custom-built apps
Blending apps and data