Decision Support Systems (DSS) help executives make better decisions by using historical and current data from internal Information Systems and external sources. By combining massive amounts of data with sophisticated analytical models and tools, and by making the system easy to use, they provide a much better source of information to use in the decision-making process. Decision Support Systems (DSS) are a class of computerized information systems that support decision-making activities. DSS are interactive computer-based systems and subsystems intended to help decision makers use communications technologies, data, documents, knowledge and/or models to successfully complete decision process tasks. While many people think of decision support systems as a specialized part of a business, most companies have actually integrated this system into their day to day operating activities. For instance, many companies constantly download and analyze sales data, budget sheets and forecasts and they update their strategy once they analyze and evaluate Continue reading
Business Information Systems
Transaction Processing Systems
The main information systems used for operational support in a business are transaction processing systems. This type of system processes data about transactions, which are events that have occurred that affect the business, such as the sale or purchase of goods. A transaction processing system has 3 main purposes: keep records about the state of an organization, process transactions that affect these records, and produce outputs that report on transactions that have occurred. For example, an inventory control system tracks records about inventory, processes sales and purchases of inventory, and produces reports about the amount and value of items on hand, on order, etc. Transaction processing systems exist in all areas of an organization, and in all types of organizations. TPSs can be used by employees (order entry) or customers (bank ATMs). They can use various types of hardware, software, and networks. TPSs use stored data in both files and Continue reading
How Internet of Things (IoT) Transforms the Retail Industry?
Competition is at the center of the victory or disappointment of firms. Competition decides the suitability of a firm’s exercises that can contribute to its execution, such as advancements, a cohesive culture, or great execution. Competitive Advantage is the seek for a favorable competitive position in an industry, the elemental field in which competition happens. Competitive advantage points to set up a beneficial and economical position against the powers that decide industry competition. A firm’s competition is expected to incorporate not as it were all of its current competitors, but moreover, potential competitors balanced to enter an industry at a future date. Hence, a firm that appreciates a competitive advantage or a supported competitive advantage is executing a technique, not at the same time being executed by any of its current or potential competitors. Forward-thinking retailers have embraced e-commerce and mobile innovations to address the competitive advantage. Retailers and innovation Continue reading
Strategic Information Systems Planning (SISP) – Meaning and Importance
In a global marketplace, information has emerged as an agent and enabler of new competitiveness for today’s enterprise. However the paradigm of strategic planning changes sufficiently to support the new role of information and technology. The question is, are changes can support the new role of information and technology and what is the relationship between strategic information system planning with the development database in an organization. Therefore, the development of strategic information system planning is importance in an organization. Strategic information systems planning (SISP) is the process of creating a portfolio based on the use of information system in order to achieve organizational goals and objectives. Within SISP, organizational can clearly define their organizational goals, the critical success factor (CSF) and the problem areas within the organization activity. Introduction to Strategic Information Systems Planning (SISP) There are two concepts of strategic information systems planning (SISP). The first one is SISP Continue reading
Case Study on Information Systems: Brown and Gordon Auto parts
Brown and Gordon Auto parts (B&G) is the third largest auto parts manufacturer in the world. It is an autonomously run division of a large conglomerate, RST, Inc. Their head quarters and principal manufacturing facilities are in Cleveland, Ohio, but they operate plant in East Chicago, Illinois, Indianapolis, Indiana, Columbus and Cincinnati, Ohio, and South Bend, Indiana. Total annual revenues are close to $2 billion, but profits were reduced dramatically in 1989 and 1990 because of the recession and particularly because of the decline in automobile sales. Plant capacity has dropped to 60%, with a slight pickup in the fourth quarter of this year. (RST, Inc. has turned in record profits in the same two years, with all divisions save B&G performing beyond plan) Most of B&G’s management teams are on-line managers who have proven themselves in operational jobs and have worked their way up in hierarchy. They don’t believe Continue reading
E-Business Model – Meaning, Elements and Types
In this Globalization era the developed, undeveloped and developing countries are preparing their societies and communities for globalization. The globalization is possible only because of revolution in communication technology. The concept of global economy is emerging which is making e-business, an indivisible component of business strategy planning. Banking, tourism, shopping, hotel booking, airlines booking, auctioning and the list is non-ending. Millions of internet users just rely for their financial as well as other services on their online transactions. As more and more people have started using internet, more specifically e-business, for their day to day working, e-business has become more and more popular. The excitement of using e-services has grown and the potential for success of businesses increased. As more and more companies have started using internet for their business growth, some problems have to be understood properly and the solutions to them have to be thought carefully. At one Continue reading