IB Business Management 5.9 Management Information Systems Key Definitions

Artificial Intelligence (AI) AI refers to computer systems that analyze data, predict outcomes, and perform tasks traditionally requiring human intelligence.

Artificial neural networks (ANNs) are computing systems inspired by the human brain.

Big data refers to large and complex datasets that traditional methods cannot process effectively.

A brand is a name, term, sign, symbol, or design (or a combination of these) that identifies the goods or services of a seller and differentiates them from competitors.

Cloud computing allows businesses to store, process, and access data and applications over the internet instead of installing them on a local machine.

A structured marketing strategy designed to encourage repeat purchases by offering rewards, discounts, or exclusive perks.

Cybersecurity refers to the practices and technologies used to protect networks, systems, and data from unauthorized access or attacks.

Data centers are facilities that house servers, storage, and networking equipment.

Data mining is the process of analyzing large datasets to uncover patterns, correlations, and trends.

A database is a structured collection of data that allows for easy access, management, and analysis.

Digital Taylorism is the use of technology to track employee performance and optimize workflows, similar to the principles of scientific management.

Immersive technologies create realistic environments that engage our senses, making us feel as if we're part of the experience.

A network of interconnected devices that collect, share, and analyze data to automate processes and improve decision-making.

Scalability refers to a business’s ability to grow and expand its operations without a proportional increase in costs.

Stakeholders are individuals or groups who are affected by or have an interest in a business's activities.