Understanding Business

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CHAPTER B - Using Technology to Manage Information Role of Information Technology: (DP) Data Processing business technology in the 1970’s; included technology that supported an existing business and was primarily used to improve the flow of financial information - DP was used to support an existing business, improve the flow of financial info and employees were hidden away in rare contact w/ clients Data and Information are used interchangeably but are different - Data are raw, unanalyzed and unorganized facts and figures; Information is the processed and organized data that can be used for managerial decision making (IS) Information Systems business technology in the 1980’s became known as Information Systems - technology that helps companies do business; includes tools like ATMs and voice mail - moved out of the back room and into the center of business - role changed from supporting to doing the business (IT) Information Technology late 1980’s - businesses shifted to technology that helps companies change business by allowing them to use new methods The role of the CIO is to help the business use technology to communicate better with others while offering better service and lower costs How IT Changes Business: Allows business to deliver goods and services whenever and wherever it’s convenient for the customer - video on demand - creates orgs and services independent of location - brings work to people instead of people to work - Virtualization accessibility through technology that allows businesses to be conducted independent of location - with IT, data and info can flow more than 8,000 miles in a second, conducting continuous business globally Electronic communications can provide substantial time savings for at work or home or on the road - email far faster than paper correspondence - IM now a favorite real-time tool for businesses Internet and Intranet communications share documents and allow contributions to one document without time consuming meetings Moving from Information toward Knowledge and Business Intelligence (KT) Knowledge Technology info charged w/ enough intelligence to make it relevant and useful - adds a layer of intelligence to filter appropriate info and deliver it when needed - knowledge sharing is at the heart of keeping pace with change (BI) Business Intelligence any of a variety of software apps that analyze an org’s raw data and take out useful insights from it - includes Data mining, online analytical process, querying and reporting - business people can decide about how to react to problems and opportunities Constant changes in technology interact with each other to create more change - maintaining the flexibility to successfully integrate these changes is crucial to business survival Types of Information Data appear in all forms and formats - text, numbers, audio, video - computing systems have been developed that can search thru and identify, categorize and refine on relevant opinions on any topic
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Business Process Info
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CHAPTER B - CHAPTER B - Using Technology to Manage...

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