Chapter 2

E-commerce: The exchange of money for goods and services over electronic networks. It enables
organizations to build new revenue streams to enhance relationships with customers.

mobile commerce (M-commerce): The buying and selling of goods and services using a mobile
device. It supports all forms of E-commerce.

forms of E-commerce:
• B2B: business-to-business
• B2C: business-to-consumer
• C2C: consumer-to-consumer
• G2C: government-to-citizen (G2C)

Electronic business (e-business): goes beyond E-commerce by using information systems and
networks to perform business-related tasks, such as:
• Gathering product demand forecasts from the distributors of your product.
• Sharing product data electronically with suppliers.

Transaction: Any business-related exchange such as payment to an employee or a sale to customer.

Transaction Processing System (TPS): Organized collection of people, procedures, software,

databases, and devices used to process and record business transactions. EX: payroll system, Reservation
systems, Library loan system.

Management Information System (MIS): Organized collection of people, procedures, software,

databases, and devices that provides routine information to managers.

➢ An MIS typically provides standard reports generated using data from a TPS.

Enterprise Resource Planning system (ERP): A system that supports an organization’s business
processes and provides extensive reporting and data analysis.

Business analytics: The extensive use of data to support decision making within organizations.
Data scientists: people who understand the business and analytics and recognize the limitations of their
data. A data scientist puts all this together to make improvements on decision making.

Knowledge Management System (KMS): An organized collection of people, procedures,

software, databases, and devices that stores knowledge, improves collaboration, and enhances the knowledge
management process.

Specialized Information Systems: Include a wide range of artificial intelligence systems.

Artificial intelligence (AI): Branch of computer science concerned with building smart machines
capable of performing tasks that require human intelligence.

Robotics: Area of artificial intelligence in which machines take over complex or boring tasks.

Vision systems: Allow robots and other devices to see, store, and process visual images.

Natural language processing: involves computers understanding of human languages.

Learning systems: Allow computers to learn from their mistakes and experiences.

Virtual reality: The simulation of a real or imagined environment that can be experienced visually in
three dimensions.