Big Data has taken a huge role in art in creating today’s Technological Revolution. It is a phrase coined to describe the exponential volume of data we currently hold. Data is collected from a number of sources including cell phones, applications, databases, servers, etc. In return, it can then be used to find trends, patterns, and connections specifically related to how humans behave along with their interactions. This information includes likes, dislikes, preferences, and search and buyer history and is not limited to personal data such as birthdate, social security number, home address, and much more. Corporations across the globe have found new ways to use this data in everyday business functions. The collection of Big Data can be used to a company’s advantage in marketing, finance, and Government. Despite the fact that in a few situations Big Data can be hard to control, it can possibly enable organizations to Continue reading
Business Information Systems
Case Study of FedEx: Leveraging Information Technology to Grow Business
Federal Express is a global express transportation and logistics company that offers customers a single source for global shipping, logistics, and supply chain solutions. It was founded in 1973 by Frederick W. Smith. Since its inception FedEx pioneered the express delivery industry. The company focused on the core business of express delivery and provided overnight delivery services to the customers globally. However, the transformation of businesses and customers from old economy to the new economy forced FedEx to reposition itself from ‘overnight delivery service’ to a ‘one-stop-shop’ for the entire logistics requirement of the business. The company became the logistics service provider of leading organizations, like, General Motors. Background of FedEx During the late 1960s, Frederick Smith (Smith) chanced upon an idea to start an airline courier company. During this period, it was common practice to send packages as cargo on commercial carriers like American, United or Delta Airlines. This Continue reading
Text Mining Concept in Data Mining
Data mining is the process of extracting patterns from data. Data mining is becoming an increasingly important tool to transform the data into information. It is commonly used in a wide range of profiling practices, such as marketing, surveillance, fraud detection and scientific discovery. Data mining can be applied on a variety of data types. Data types include structured data (relational), multimedia data, free text, and hypertext. Nowadays, text is the most common and convenient way for information exchange. This due to the fact that much of the world’s data is contained in text documents (newspaper articles, emails, literature, web pages, etc.). The importance of this way has led many researchers to find out suitable methods to analyze natural language texts to extract the important and useful information. In comparison with data stored in structured format (databases), texts stored in documents is unstructured and to deal with such data, a Continue reading
ERP System – Implementation Methodologies, Benefits, and Bottlenecks
ERP system is an Industry term that denotes an Information technology solution use to integrate a broad set of activities and resources in an organization. An ERP system basically helps to shape and redefine businesses in the management of vital parts of its core business. The Structure and the information that is accrued from an ERP system facilitate optimal performance necessary for attaining organizational objectives. ERP is an acronym for Enterprise Resource Planning. The main feature of an ERP system is capacity to integrate businesses through application of modern technology and relevant business management practices. The integration of business processes with new information technology is critical towards success in the world of today. This integration has been transforming businesses to operate in modern information age. Necessarily to adapt to the new information age, organizations are forced to discard the traditional way of conducting business or managing organizational resources. Advancement of information technology Continue reading
What Is Business Intelligence (BI)? Architecture, Applications and Advantages
Business Intelligence is the process of discovering and analyzing data to make informed business decisions. The management in any business needs this aspect of management as part of the companies integral infrastructure in today’s world in order for the business to succeed. The data collected from many of the data collecting sources is used to determine trends, or measure, manage and improve on the performances of individuals, processes, teams and business units. The enterprise refers to any business organization that uses computers as an integral part of their business and relies on it for that businesses development. The History Of Business Intelligence In 1958, IBM researcher Hans Peter Luhn was the first one to use the term BI and he defined intelligence in his words: “the ability to apprehend the interrelationships of presented facts in such a way as to guide action towards a desired goal”. The business intelligence that Continue reading
Integration of Payroll System with HRIS
Computerization began in the human resource area via the payroll system. Payrolls are large masses of detailed information which need to be accurately and quickly updated. This is a fundamental accounting activity, so organizations had little hesitation in introducing such systems. Early systems were computer bureaus where data was processed outside the organization. Initially, it seemed that the promised benefits of computerization had finally arrived. The army of pay clerks was substantially reduced. However, new issues relating to input errors and processing delays soon arose. It is important for HR managers to understand this history because it explains why many early (and even some contemporary) HRIS have a bias towards payroll activities. Payroll processors first attempted to introduce Human Resource Information System (HRIS) in the mid-1970s when a major vendor offered a HR system with some additional fields of information that could be manipulated. Although a crude attempt Continue reading