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Chapter 02 - Info system and Data Analytic - Coggle Diagram
Chapter 02 - Info system and Data Analytic
Controls over Info system
Physic controls: locked doors, picture IDs, security cameras
Logical control: passwords and access rights
Administrative controls: implementation of new procedures or discipline policy
Anti-virus
Firewall
Validation
Encryption
Dial-back security
Confidentiality agreement
Info of management accountant
Strategic planning
Long-term planning (many years)
Management accounting info mainly used for strategic planning
Management accounting info mainly arrived from internal source, but also take into impact of external sources
Strategic Management Accounting: takes into account
Competitive edge by understanding customer demands
Input from many areas to ensure goals and targets link smoothly
Bring together comparable info regarding different strategy
Ensure business focus on shareholders' needs
Management Control (Tactical planning)
Decision must follow efficiency and effectiveness in using resources
Operational control
Category of Info system
Transaction processing system eg. cashiers' check-out at supermarket. Two types: batch and real-time
Management Info System: Used for structured decision-making, helps manager analyze performance and control of business
Executive Info System: For seniors to make decisions. Mordern EIS may be a dashboard
Enterprise resource planning system: diverse business function integrated into one database
Customer relationship management software
Big data
Extremely large collection of data that may be analyzed to reveal patterns, trends, and associations, especially relating to human behaviors
Characteristics of big data
Volume - reliability
Velocity
Variety
Use of big data
Data mining: to identify patterns
Predictive analytic
Text analytic
Statistical analytic
Use of big data in performance management
Gain insights (eg. customer preferences)
Forecasting better
Automating of high level business processes
Provide details and up-to-date performance management