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Chapter 1 Business Driven Technology

Chapter 1 Business Driven Technology

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Chapter 1 Business Driven Technology

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  1. Chapter 1Business Driven Technology Chapter 1: Management Information Systems: Business Driven MIS MANGT 366 Information Technology for Business

  2. Class Focus this semester • Business Driven Technology • Business initiatives should drive technology choices • Business needs first: technology supports those needs • Core business fundamentals are constant or get better: technology changes • Business Intelligence • How do we acquire it? How do we use it? • What do we do with it? • Defined: A broad category of applications and technologies for gathering, storing, analyzing and providing access to data to help users make • D decision making • Also referred to as • Management 665 Bus Intel/Data Mng and DB Mktg

  3. Information Technology’s Role in Business • Information technology is

  4. Information Technology’s Impact on Business Operations

  5. Information Technology’s Impact on Business Operations • Organizations are typically organized and operate by or functional silos • While you might think these are independent, they are actually because they require information from • They donot exist

  6. Information Technology (IT) • In order to be successful in business, you must understand • Using IT and/or spending lots of money on IT will not equal business success. • IT is used to of people • IT by itself does not get the job done. • IT is only useful if the right people know and effectively. • IT is (and if you don’t know how to use the tool, then you won’t be successful)

  7. The function of the IT department is to get • In order for this to happen, it is important to understand • Data, information and business intelligence • IT resources • IT cultures • Information technology is and if you want to be successful in business, you need to understand technology.

  8. Data • R the characteristic of an event • Data recording sales events in an Excel Spreadsheet • Without analyzing the data, it is just a

  9. Information • Data is information • Data turned into information • One person’s information might be (store manager vs CEO)

  10. You can analyze that data even further by to gain help us gain a better understanding of our data and information: primary business analysis tool

  11. Business Intelligence • The analysis of data and information from to gain a impacting your business • Analyze • Attempt to determine • P analytics (develop models to predict behavior) • Used in business decision-making (Data Analytics) • These multiple sources include: • Suppliers Customers • Competitors Business partners • Data from industry Data from governmental sources • Manipulate multiple variables from multiple sources (sometimes even manipulate hundreds of variables) to of the data.

  12. IT Resources P use Information technology I • The single most important resource in any organization is . Your greatest asset is your (your ability to think). • Information technology (IT) is simply a that helps you

  13. Important IT Skills for Functional Areas Finance S Modeling S Analysis to identify and measure risk. Database Management Web sites and Search Engines Marketing C Management S Software ( ) Database Management, Data Communications software and desktop publishing • Accounting • Accounting Information Systems • S • D and Management • Web Research • Network • Management • E software • S • Database Management • Web sites and web portals • Operations Management • Advanced Statistical techniques and advanced spreadsheet modeling • Scheduling software, software, software

  14. The following slides are details related to the prior slide. I won’t specifically talk about these details in class, but you do need to study them because they provide additional information related to the specific IT skills that are typically needed for employees in the various business functional areas

  15. Accounting • Accounting Information Systems: almost all accounting systems are computerized. • Database Management: Accounting information is stored in databases and that info. is used to create accounting reports. • Database Design: In order to audit accounting systems, accountants must understand the design of the database and be able to follow transactions through the system. • Web Research: Accountants frequently consult rules and regulations available on the Internet: must be able to rapidly search for and apply information found. • Network Security: Knowledge of a company’s computer systems and networks is required to assure the security of a company’s information. • Spreadsheet modeling: financial projections and analyses require extensive use of electronic spreadsheets and accountants must be very skilled in the use of spreadsheets.

  16. Finance • Spreadsheet modeling : advanced knowledge is essential as you forecast cash flows and evaluate changes in assumptions. • Statistical Packages and Statistical Analysis: Used to help decision makers identify and measure project risk. • Database Management: Must be able to create, maintain and manipulate financial measures stored in a database. • Internet Sites and Web Portals: Corporations use web sites to provide investors with company information. Automated bill paying impacts both accounts receivable and accounts payable. • Search Engines: Must be able to accurately and efficiently gather required business information from external sources. • Must understand thetechnological strategy and technological innovation being used in the industry. For example, what are banks doing?

  17. Marketing • Must understand the use of Customer Relationship Management (CRM) software and how it can be used to manage relationships with customers. • Must understand Budget Analysis/Impact Software and Spreadsheet Software: Used to evaluate financial feasibility of new products and services, as well as advertising and promotion strategies. Must be able to run “What If” scenarios. • Database Management: Marketers work with vast amount of information that is stored in databases, and you must know how that information is organized and how it can be accessed. • Data Warehouses and Data-Mining Tools providea way to summarize large amounts of information and understand it from a different perspective. Must be able to extract information from a data warehouse and be able to analyze it. • Must be able to work with communications support software, including email and contact management software. • Must be familiar with desktop publishing software which is often used to create marketing materials.

  18. Management • Must understand the role of Enterprise Resource Planning Systems (ERP) and how ERP systems promote the corporate-wide sharing and communication of information. • Managers use spreadsheets to calculate value, display financial information and work with numbers. • The information used by managers and the people that they supervise can be found in databases. • Internet Sites and Web Portals: Corporations use web sites to display and access information, as well as link employees, recruiters and other institutions. • One of the new areas of business is Electronic Commerce, and managers must understand the potential of information technology and the skills needed to be successful in business-to-business and business-to-consumer electronic commerce.

  19. Production and Operations Management • For most careers in POM, a detailed knowledge of statistical tools and techniques is essential. • Advanced decision support spreadsheet functions, such as goal seeking, optimization, and statistical tools, provides support for many POM careers. • A knowledge of Supply Chain Management Systems allows a person to work with each department of a company, integrating solutions to maximize customer value. • Must have an understanding of Material Requirements Planning Software (part of ERP) and how the business operates from beginning to end and how to optimally model those operations. • Must be able to use scheduling software to optimally schedule business resources (people, plant equipment, transportation modes, manufacturing operations). • Must be proficient in the use of Data-Mining Tools and other statistical techniques in order to be able to find relationships in the information contained within data warehouses.