Chapter 1

Chapter 1 introduces us to Management Information Systems and its importance to the business world. It was only up until recently that working for tech companies was the hottest job to acquire.  These days, the economy is driven by producing, distributing, and controlling information, otherwise known as the Information Age. The rise of digital devices has increased dramatically during the Digital Revolution, that mechanical and analog devices are slowly becoming obsolete. With that being said, the Bell's Law was created. This law states that a new form of computer device or class will emerge roughly every decade. We see this with PC's to cellular phones to smart devices.

Technology is constantly growing rapidly. Moore's Law tells us that "as computers are getting exponentially faster, the cost of processing data is approaching zero". The price to performance ratio is dramatically decreasing as processing power increases. When more digital devices are able to connect with each other, the value of the network is squared in size. This is known as Metcalfe's Law, and we saw this law hold true as the internet exploded with more users gaining access. Social media, especially, would not have survived without having large amounts of users.

We learn that routine skills are not considered marketable skills, and that any of these skills can and will be outsourced to the lowest bidder. Robert Reich, former Secretary of Labor, lists four non routine cognitive skills that are strong to maintain job security. They are: abstract reasoning, systems thinking, collaboration, and ability to experiment. Having these key skills increases your chances of landing a well-paid position related to Management Information Systems, which is definitely in high demand.

Management Information Systems is often confused with IT and IS. Information system is the assembly of software, hardware, data, procedures, and people that produces information. In contrast, information technology is what produces information through products, methods, inventions and standards. 

The difference between the three systems is that IT is purchasable, while IS is not. IS is the ability to use the IT, which cannot be bought. Once these two components are in sync, this is when MIS is created.

The model of components in an information system is called the five-component framework, and it includes, computer hardware, software, data, procedures, and people. However, the most important component is us. Our cognitive skills determine how we think and conceive information. Data is just data until we turn it into information. We, as humans, are the only ones that can produce information.

Information and data are not the same. Information is knowledge derived from data. Data is recorded facts or figures. Information cannot be drawn or written on a piece of paper, it can only be in the mind of a human. Different perceptions and views are in result of strength of cognitive skills. This is extremely crucial in the business world.

Security guide gives us advice on how to create great passwords to ensure safety and reliability. Using your name is a huge no, while using special characters is a huge plus. It is never a good idea to write down your password as anyone can find it and steal your information. Successfully doing so, ensure that you are securing information well.