Chapter 13-business information

Chapter 13-business information - RSM 100 Wed Business...

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RSM 100 Wed Feb 24, 2010 Business Information Information systems Information quality Using business information
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Information Management • Information managers are responsible for: – generating information – analyzing information – dissemination of information to facilitate the decision-making process
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Information Technology Company Revenues (Billions) 1 CGI Group Inc. 3.6 2 Microsoft Canada Inc. 1.2 3 Cognos Inc. 1.0 4 McDonald, Dettwiler and Associates Ltd. 0.8 5 Creo Inc. 0.8 6 Accenture Inc. 0.6 7 Geac Computer Corp. Ltd. 0.5 8 EDS Canada Inc. 0.5 9 Open Text Corp. 0.5 10 Oracle Corp. Canada Inc. 0.3
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Data vs. Information • Data – raw facts and figures – data are processed to become information • raw data about clients’ purchases, account balances • Information – a meaningful and useful interpretation of the data • a printout showing whose accounts are up-to-date and whose are overdue
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Using Business Information As strategic managers, you will have an increasing amount of data available for review and use in decision making In fact, too much data ! Reports Emails Spreadsheets Marketing Campaigns Product Analysis Revenue Reports Q4 Financials Etc.
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Using Business Information Yet, will you be able to answer simple questions like. . • How is my organization doing? • What price should we be charging for our products? • Should we add new features to our products? • Etc. The answer is: Maybe not as well as you would like to or should be able to!
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Using Business Information Great systems have evolved and are in place for things like • Enterprise Resource Planning (ERP) • Customer Relationship Management (CRM) • Supply Chain Management (SCM) So, in theory, corporations should have the data in place to optimally and dynamically manage the performance of their enterprise Yes. They have the data! But, do they have the information?
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Using Business Information Data vs. Information • Terms often used interchangeably • Data is the raw material • Data, when converted into a meaningful and useful context for a specific end users purpose is now considered information • The analysis of the Information leads to Knowledge!
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Business Information: The Vision Single unified environment Data distilled to the performance indicators that matter and presented to all levels and functions of management as
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This note was uploaded on 03/03/2011 for the course RSM 100 taught by Professor Oesch during the Spring '08 term at University of Toronto.

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Chapter 13-business information - RSM 100 Wed Business...

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