...The Importance of Data in Business The Importance of Data in Business Information is a subset of data, including data that possess context, relevance, and purpose (Sabherwal, & Becerra-Fernandez, 2011, p.5). Information more than likely involves the manipulation of raw data to obtain a more well-rounded indication of patterns or trends in the data itself. Humans are social animals that depend on interaction with others for daily needs, this interaction is possible through a mutual data network between them (Uddin, 2010). As with every advance in communication technology, the creation and interconnection of robust data networks are having a profound effect. Early data networks were limited to exchanging character based information between connected computer systems. Today’s current data networks have evolved right in front of our eye’s in to something spectacular, now we can carry voice, video streams, text, music and photos over many different devices (Uddin, 2010). In 1990 the use of the internet to gather data spread faster than anyone ever imagined, it once was used for a way for researchers at university’s to exchange information, but when people and businesses figured out how to take advantage of this web based communication the internet grew to limits we never thought imaginable. This sparked the creation of a new age with many new businesses and careers. Data exchange over the internet can and has also saved lives. In the year of 2008 a mother saved her sons...
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...It is easy to create lots of data and then become disorganised very quickly. There are many different ways as to how data can be organised. You need to consider your other work colleagues who may need to find specific files at a later date, therefore it is important to decide on an effective way that works best for you and your team. To ensure your data is understood, you should try these different ways of organising data that are listed below: Name and organise your files. This allows you and others to have the ability to easily locate them. Organise e-mails. You should try to have different folders for specific projects and so on, by creating individual folders, this again allows easy access when it comes to finding the files and it shows you have capable organisational skills and helps to maintain the department in some ways. ...
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...The Quantitative Research about Griffith University Hotel Facilities Course Name: 1002HSL Introduction to Research Student Name: Student ID: Introduction This report is to assess, from the view of professions in event and facilities management, the importance and performance of the existing facilities in city hotels of Griffith University in order to identify the critical factors in better operation and execution of hotels. The rapid development and expansion of hospitality industry has made hotel industry much more competitive than before, thus, how to promote the operation and execution become a significant issue in surviving in fierce competitive business environment. Among those critical issues of success in managing hotels, the service segment is in particular of importance in that it is directly accessed by customers or travellers and they are inclined to rate hotels on those service (Roger, 2011). Therefore, it is quite necessary to elevation how importance of existing facilities towards guests and the current performance of those facilities in the hotels. The Griffith University Hotel, being operating for a relative long period in the service industry, has established its good reputation and occupied a certain part of market shares. While, it still suffers from threads from low priced hotels and other rivals who are continuingly promoting hotel environment and service. In order to maintain the current volume of guests and probably increase it, the...
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...IMPORTANCE OF INFORMATION TECHNOLOGY SECURITY Importance of IT Security Table of Contents Introduction .................................................................................................................................................. 2 e-commerce Trends ...................................................................................................................................... 2 Risks .............................................................................................................................................................. 4 Cost of Cybercrime........................................................................................................................................ 6 Prevention Steps ........................................................................................................................................... 7 Conclusion ................................................................................................................................................... 10 References .................................................................................................................................................. 11 1 Importance of IT Security Introduction For the business professional information technology (IT) security is of upmost importance. The reliance that companies have on information systems in conducting everyday business transactions has facilitated the need...
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...The Importance of Measuring Enterprise Impact Zachary Bloom BIS/221 February 16th, 2015 Thomas Klopfer The Importance of Measuring Enterprise Impact “Green hype and green washing may be on the endangered species list and going away, however, green IT for servers, storage, networks, facilities as well as related software and management techniques that address energy efficiency including power and cooling along with e-waste, environmental health and safety related issues are topics that won’t be going away anytime soon.” (Schulz, 2015) Renewable energy, recycled products and storing data are ways that a business can reduce its carbon footprint The question that needs to be asked is a business green washing their data or products to make it seem like they are environmental friendly. Carbon Footprint In week four my team and I did research and had a discussion over a video we watched on the importance of measuring enterprise impact. “Green washing is a form of marketing spin in which green PR or green marketing is deceptively used to promote the perception that an organization's aims and policies are environmentally friendly. Whether it is to increase profits or gain political support, greenwashing may be used to manipulate popular opinion to support otherwise questionable aims.” (Grant, 2013) The first conclusions we came to was none of us knew that data usage could be bad for the environment and that many companies can claim they use less data. Any...
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...Abstract This paper discusses the importance of MIS in the decision-making of commercial banks in Butembo city. The discussion starts with the review of literatures on the importance of MIS in our world today. The qualitative method of research is applied where; some bank managers were interviewed to collect data. The findings reveal that commercial banks in Butembo city are integrating technology in their daily activities. Mangers do use information systems in making every day decision at their level. Since all the banks in Butembo city are branches that does not need to make high-level strategic decisions. Therefore, the integration of MIS in high-level decision-making is done at the higher level (head office) from the information provided at the lower levels (that is branches like Butembo). However, the banks do share real-time information among branches and the head office. Introduction The history of Management Information System (MIS) starts since long. In 1968, Michael S. Scott Morton wrote a research paper in which he emphasizes the use and emergence of MIS in future. He emphasizes that the future companies will be affected by two things technology and the human comprehension and understanding of decision-making process. According to Morton (1968), it is not only about the emerging of new technologies rather how man will use the information from technology to make decisions. He predicted that in future organizational decisions will...
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...technology solution. This assignment specifically addresses the following course outcomes to enable you to: * analyze internal and external business processes to identify information systems requirements * identify and plan IT solutions that meet business objectives Purpose of this Assignment This assignment gives you the opportunity to apply your knowledge of the course concepts to develop IT requirements for a technology solution. This assignment specifically addresses the following course outcomes to enable you to: * analyze internal and external business processes to identify information systems requirements * identify and plan IT solutions that meet business objectives Overview of IT Requirements for a System to Improve the Process at UMUC Haircuts For your Case Study Stage 1 assignment, you performed a Five Forces Analysis and justified Myra's chosen strategy for competitive advantage and the business process that she would like to improve through the application of technology. For your Stage 2 assignment, you identified the inputs, processing, and outputs of Myra's selected business process. Those inputs, processing, and outputs form the functional (business) requirements for an IT system to improve the process. In Stage 3, you will define the IT requirements by evaluating their applicability and importance in a new system to be...
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...BIS/221 March 16, 2015 The Importance of Measuring Enterprise Impact Learning Team B has another brief discussion of the importance of measuring enterprise impact. The video with David Moschella summarized the importance of accurate tracking of data and without the technology put in place most companies are losing important data. Measuring, Monitoring and Managing Data In brief discussion, the team focused on measuring, monitoring and managing data. Gery specifically notes that many companies are outsourcing this task to companies rather than keeping it in house. Sheri talks about another great way to measure, monitor and manage with experience she has had with Lean Sigma Six. Define, measure, analyze, improve and control has been taught to her as DMAIC, which is another way for her to think about measuring monitoring and managing data and the importance of the impact on her organization. I myself with a small business that is growing am starting to do research on the best ways to measure, monitor and manage my data. Some questions to help me determine the importance of data are what will I use this information for? Can this information help grow my business? Do I have time to measure monitor and manage the data or should I outsource it? An article in ComputerWeekly.com states that using small business software can benefit a company by helping increase or measure productivity, it can save time and money, and make processes more efficient. (Mahomed, n...
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...article “Diamonds in the Data Mine” specifically discusses the use of data analytics by Gary Loveman in generating data-driven marketing strategies for Harrah's Entertainment to increase its revenues. When other companies concentrated in constructing costly offerings, Harrah's used data to find patterns and solutions to improve each customer's satisfaction. Harrah's Entertainment used database marketing and decision-science based tools to gain competitive advantage. Using the data analytics, they proved one of the fundamentals of the casino business wrong i.e., treating one customer differently than they treat another. Without data analytics, this would not have been possible. Also, linking customer satisfaction with the workers scores. This attempt by Harrah has improved the customer service scores and successively improved customer loyalty. Overall the article discusses the importance of data analytics in a business to generate customer-centered marketing strategies. The article “Data Scientist: The Sexiest Job of the 21st Century” talks over the gaining importance of a data scientist in an organization. It explains the unique as well as collective skills they hold to perform their tasks. They are a new breed of scarce professionals who are in very high demand for companies wrestling with data. Data scientists are creative in data visualization and making the patterns they find clear and compelling. They are given freedom to work with the rest of the business to find hidden solutions...
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...IMPORTANCE OF IMPLEMENTING FORENSIC ACCOUNTING IN LISTED COMPANIES IN MALDIVES BUSINESS RESEARCH METHODS AIHAM MOHAMED AHMED TP029473 Table of Contents CHAPTER 1 3 1.1 ITRODUCTION 3 1.2 BACKGROUND OF THE STUDY 3 1.3 STATEMENT OF THE PROBLEM. 4 1.4 RESEARCH OBEJCTIVES 5 1.5 SIGNIFICANCE OF THE STUDY 6 1.6 SCOPE OF FEASILBILTY OF THE STUDY 7 1.6.1 SCOPE 7 1.6.2 FEASIBILITY OF THE STUDY 7 CHAPTER 2- LITERATURE REVIEW 8 2.1 DEFINITION OF FORENSIC ACCOUTING. 8 2.2 IMPORTANCE OF FORENSIC ACCOUNTING IN LISTED COMPANIES IN MALDIVES. 9 2.2 FORENSIC ACCOUNTING HELPS TO ELIMINATE CORRUPTION. 10 2.3 FORENSIC ACCOUNTING INFLUENCES THE ORGANIZATIONAL PERFORMANCE 11 2.3 CURRENT SITUATION IN MALDIVES. 12 CHAPTER 3 – RESEARCH METHODOLOGY 14 THEORETICAL FRAMEWORK 14 3.2 TYPES OF DATA 16 3.3 SAMPLING DESIGN 17 3.4 DATA ANALYSIS 17 3.5 HYPOTHESIS TESTING 18 4. CONCLUSION 19 REFERENCE 20 IMPORTANCE OF IMPLEMENTING FORENSIC ACCOUNTING IN LISTED COMPANIES IN MALDIVES. CHAPTER 1 1.1 ITRODUCTION The main purpose for this research to be carried out is to investigate the importance of forensic accounting in the business world, and how important it is to implement a solid forensic accounting system in the listed companies in Maldives. This chapter provides an overview of the study that contains the background of the study, the statement of the problem, research objectives, significance of the study the limitations faced while doing the...
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...| High/Medium/Low Importance or Relevance or Not Applicable (N/A) | Explanation for Ranking(minimum 2 sentences for each, linked to specific technology solution proposed) | Usability | High | The web application has to be easy to use because although customers may receive services without utilizing the new system, the employees and Myra will need to use it every day. The rating of High was given because while a customer may call in to schedule an appointment, someone from UMUC haircuts will still be inputting the appointment into the web application. | Maintainability | N/A | The Schedulicity web application is a third party hosted application and therefore all the maintenance and coding is performed by the third party. N/A was given as a rating because Myra, her employees, and customers do not have to maintain any of the system coding and all modifications would be performed by the third party. | Scalability | N/A | Scedulicity is a web-based application that is already used by many other businesses and many of which are much bigger in size than UMUC haircuts. There is a lot of room for growth using the application which will make the addition of more employees and managing of scheduling easy even if Myra’s business grows much larger or even if she were to open additional locations. | Reliability/ Availability | Low | UMUC haircuts will need the system to stay up and running for as long as possible in order for its customers to schedule appointments at any time during...
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...The Big Data Challenges Volvo Car Corporation takes pride in the quality, design, and safety of their cars as well as their environment friendly design that minimizes emissions and increases efficiency. The company is embracing new and evolving technology to increase manufacturing excellence, customer satisfaction and vehicle safety. Volvo’s integration of the cloud into its networks, the incorporation of the captured data into knowledge, and the importance of real-time information systems that were implemented are three key factors that the company experienced. First, Volvo Car Corporation (Volvo) integrated the cloud infrastructure into its networks. There is no doubt that today’s customers enjoy and depend on smart technology; therefore, Volvo recognized the need for manufacturers to develop cars that included smart technology. Volvo’s automobiles have hundreds of sensors that generate data that is captured and utilized not only by the vehicle itself but also transmitted via the cloud back to the manufacturer. Once the information is captured, it is streamed into a centralized analysis hub (Volvo Data Warehouse). In addition to this information, Volvo also collects data from the customer relationship systems, dealership systems, and product development and design systems (Converting Data Into Business Value At Volvo, 2011). Evidently, Volvo is up to date with new technology and taking advantage to improve the customer experience. This is definitely smart business. Second...
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...* How the Internet works * Packet-switching technology Actual data transmission takes place sporadically, rather than continuously. Data to be transmitted is divided into small packets of information and labeled to identify the sender and recipient. These are sent over a network and then reassembled at their destination. If any packet did not arrive or was not intact, original sender requested to resend the packet. -> This enables millions to transmit data at the same time. * Understand the importance of standards (protocols) * What problems are and tasks are involved in networks and why are standards important for networks to run? Computers and applications of different kinds need to use the same network. Packets could get altered/lost/out of sequence. Many computers send packets simultaneously. There are lots of different destinations, routes, and sometimes some of them ‘close down’. * Bandwidth Bandwidth is transmission capacity of a computer or communications channel, measured in bits per second (bps). * TCP/IP protocol and layered standards of the Internet * Application layer, network layer (TCP/IP) Applications layer (e.g. HTTP, FTP) specifies how application programs communicate. Network layer (e.g. TCP/IP) consists of transport layer and internet layer. Transport layer (TCP) breaks, reassembles messages into packets. Internet layer (IP) specifies the address a packet is headed to. * Internet addressing and architecture:...
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...INFORMATION SYSTEMS Unit Structure 1.0 1.1 1.2 1.3 1.4 Overview Learning Outcomes Introduction Information Technology and Information What is an Information System? 1.4.1 Components of an Information System 1.4.2 Functions of an Information System 1.4.3 Data versus Information 1.5 1.6 1.7 Advantages of Computerised Information Systems Information Systems and Businesses Factors affecting the Business Environment 1.7.1 Globalisation 1.7.2 Shifting from Industrial-based to Knowledge-based Economies 1.7.3 Transformation of the Enterprise 1.7.4 The Digital Firm 1.8 1.9 The Internet New Options for Businesses 1.9.1 The Networked Enterprise 1.9.2 Electronic Business, Electronic Commerce and Electronic Government 1.10 1.11 1.12 1.13 1.14 Information Systems at Different Levels of Management Management Challenges with Information Systems Activities Discussion Questions Summary Unit 1 1 Management Information System – LLC 3215 1.0 OVERVIEW Nowadays, information is considered to be a very valuable resource in organisations. It is in fact comparable to other valuable resources like money, human power and raw materials. Information is vital in our everyday life. Consider the importance of weather forecasts in Mauritius during cyclonic periods. This leads us to the concept of information being a driver for decision-making. This unit will help you understand why we need to manage information and the role played by information systems in organisations...
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...application from within the store. From the store computer, call in customers can be manually entered into the online scheduling application or the customer may schedule themselves from their own personal computer or mobile phone application. This technology system was specifically chosen for UMUC Haircuts because the cost for implementation and maintenance is very low and requires minimal resources aside from a computer and local internet connection. Myra will finally have customer scheduling linked to her employees schedules via the Schedulicity calendar her business will utilize for customer appointment times. This calendar will display the times Mya’s employees will be working in order for customers to select their desires hairstylist and time. Generic Strategy: Differentiation Strategic business area: Operations Management Process to be improved: Customer and employee scheduling | High/Medium/Low Importance or Relevance or Not Applicable (N/A) | Explanation for Ranking(minimum 2 sentences for each, linked to specific technology solution proposed) | Usability | High | The web application has to be easy to use because although customers may receive services without utilizing the new system, the employees and Myra will need to use it every day. The rating of High was given because while a customer may call in to schedule an appointment, someone from UMUC haircuts will still be inputting the appointment into the web application. | Maintainability | N/A | The Schedulicity...
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