Essay on Study Guide: Information Technology

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ISM 3011 Test 2 Study Guide
Know the following terms and concepts from Chapters 5 - 7

Moore’s Law (and constraints on it) – (Intel co-founder) Chips performance per dollar doubles every 18 months. Data storage will double every 12 months. With an optical cable it can double every 9 months.
Microprocessor - The brain of any computing device.
Volatile memory - When power goes out, all that was not saved is lost.
Non-volatile – storage that will retain data even when power goes out (hard disc, flash memory, DVD)
RAM – Random access Memory - temporary storage that provides fast access for executing computer programs and files. When you “load” or “launch” a program, it usually moves from your hard drive to those RAM chips, where it can
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Customers who are tied to a company
Complimentary benefits - Products or services that add additional value to a network
Platforms – Products or services that allows for the integration of other software (iphones, the wii).
One-sided markets – a market that derives its value from a single type of user
Two-sided markets - network markets comprised of two distinct categories of participant, both of which that are needed to deliver value for the network to work (ex. video game console owners and the developers of the video game)
Monopoly - a market where there are many buyers but only one dominant seller
Oligopoly - a market dominated by a small number of powerful sellers
Envelopment - where a firm seeks to make an existing market a subset of its product offering. Separate product categories for media players, cameras, gaming devices, phones, and global positioning systems (GPS) are all starting to merge. Rather than cede its dominance as a media player, Apple leveraged a strategy known as
Congestion effects - occur when increasing numbers of users lower the value of a product or service
Industry standards -
Difference between Web 1.0 and Web 2.0 sites/services -
Peer production
Blogs – Online journals in chronological order. People can comment on your blog. Short for web log.
Micho-blogs – or microblogging, Tweeter. The difference is that you will not know if they see your stuff.
A Wiki - a Web site anyone can edit directly within
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