1.8. Summary

Key Takeaways

  • Information systems are ubiquitous and surround us everyday.
  • Information systems are essential for good decision-making. They transform data into information.
  • Information systems are comprised of: technology (hardware, software, networks), people and processes.
  • Data, information, knowledge and wisdom are terms that are sometimes used interchangeably, but they are not the same.
  • In order for information to be valuable for decision making it must be: accessible, consistent, timely, accurate, cost effective, relevant and clear.
  • Technology is impacting every major business discipline, including finance, accounting, marketing, operations, human resources, and the law.
  • Information system (IS) jobs are profoundly diverse, ranging from those that require heavy programming skills to those that are focused on design, process, project management, privacy, and strategy.
  • The information systems function in business has evolved over time creating new models and structures for organizations.

Review Questions

    1. What is an information system? How are they used in different professions and in your everyday life?
    2. What are the major components that make up an information system?
    3. What is the role information systems play in an organization?
    4. Are data and information different? Are knowledge and wisdom different?
    5. What makes information valuable? Why?
    6. How does technology impact different business disciplines and careers?
    7. What roles do people play in information systems?
    8. What kinds of skills do today’s managers need that weren’t required a decade ago?
    9. How do information systems function in a changing business?


This assignment is designed to help you understand the ‘skills’ gap that may or may not exist in your industry.

In this assignment, you will explore the skills gap within your future career industry. Complete the following questions in a separate document.

  1. What industry do you plan to work in once you graduate?
  2. Perform some research on the skills gap and describe what is happening within your industry. Make sure to provide references to the resources you use.
  3. Finally, conclude with a plan of how you will address the skills gap with your current career path.


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Information Systems for Business and Beyond Copyright © 2022 by Shauna Roch; James Fowler; Barbara Smith; and David Bourgeois is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License, except where otherwise noted.

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