AI and Customer Experience in Tourism: Core Concepts
Artificial Intelligence Fundamentals
Machine Learning vs. Deep Learning: Key Differences
Machine Learning (ML) is a method for computers to learn from data and improve their performance without being explicitly programmed step-by-step. It is typically used for simpler predictions or decisions based on patterns identified in data.
Deep Learning (DL) is a more advanced subset of ML that utilizes large neural networks with many layers. It excels at understanding complex data types, such as images or human
Read MoreUnderstanding International Trade and Its Key Institutions
1. General Aspects
Growth of International Trade: Increased post-WWII in both:
Volume (due to modernization of transport and telecommunications) and
Complexity (more actors, new types of trade, including services and intellectual property).
Led to the creation of institutions to regulate trade at the regional and international levels.
Major Organizations:
UN (1945): General international cooperation.
ITO (1946, not created): Intended for trade regulation; failed due to US non-ratification.
GATT (1947):
Managerial Accounting Essentials: Concepts & Controls
Principles of Financial Planning and Budgeting
- Short-term planning is typically within one year.
- Long-term planning involves longer than a year, up to 5-10 years.
- When strategic planning is transformed into numbers, it becomes a budget. This is expressed in dollars.
Controls: Monitoring Planning Activities and Decisions
- Feedback for managers is needed to improve policies, procedures, and processes.
- Measurement of actions and processes.
- Analysis of company results versus competitors (Benchmarking).
Objective:
Read MoreCompany Structures and Business Setup Fundamentals
What is a Company?
A company is a contract between two or more individuals who gather to conduct business. This contract creates a legal entity distinct from the partners who form the company. Moreover, this legal entity will own assets formed from the owners’ contributions, distinct from the personal assets of each individual partner.
Key Company Structures
Understanding Company Structures
A company is a legal entity formed by shareholders who contribute common capital. Each shareholder’s liability
Read MoreDatabase Fundamentals and Information Systems Explained
Fundamental Concepts of Data and Databases
Key Definitions
- Data: Facts about people, objects, events, or other entities. Data can be:
- Quantitative or Qualitative
- Internal or External
- Historical or Predictive
- Information: Consists of data that has been organized and processed to provide meaning.
- Database: A collection of related data that can satisfy the information needs of an organization, facilitating data integration and sharing.
Traditional Data Processing Approach
The traditional approach to data processing
Read MoreCore Accounting Concepts: Assets, Liabilities, and Equity
Understanding Business Accounting and Financial Statements
The Role of Accounting in Business
Accounting is a scientific discipline that studies and presents a company’s financial position, based on established norms and principles for recording economic information. The primary objective of accounting is to provide crucial financial and economic information to various stakeholders:
- Owners or Shareholders: To monitor the evolution of their investment.
- Managers: To support informed decision-making.
- Public