Information systems refer to the way in which information is gathered, customized, analyzed, shared and reported. Each information systems are invented to support these requirements of business to enable managers to take sound decisions to achieve business objectives and goals. They often overlaps each other with respect to functions they provide like gathering, comparing, analyzing, integrating different software applications and reporting. Each kind of information system supports this by varying degree of effectiveness. They all require costs, time, training to use hardware/software and changes to be adopted, to implement the system. 1. Executive Information Systems (EIS) Executive information system supports the top level management in taking strategic business decisions by providing information to executives. Executives can directly extract information from database of the EIS without any need to being reported. It gathers both internal and external information to support executives in achieving strategic objectives and goals. The features of Continue reading
Business Information Systems
Sentiment Analysis (Opinion Mining) – An Overview
With the proliferation of opinionated content on the web, this particular application of natural language processing – Sentiment Analysis (Opinion Mining) is used to determine the sentiment of the given speech or text is gaining more popularity. In layman’s term sentiment analysis aims at identifying and classifying spoken words or written text as positive, negative or neutral. What is Sentiment Analysis? In the field of Natural language processing, sentiment analysis also known as opinion mining is task of classifying a given text as positive, negative or neutral based on the opinion or subjectivity of the text. Sentiment analysis can be considered a sub filed of text classification which involves classifying a text in to predefined categories. Sentiment analysis can be used to evaluate the attitude of the people about a topic, comments of Facebook posts, tweets, product review, political agenda, review sites, etc. Once important characteristics of sentiments and opinions Continue reading
Case Study of Zara : Application of Business Intelligence in Retail Industry
ZARA is a Spanish clothing and accessories retailer based in Arteixo, Galicia. Founded in 24 May ,1975 by Amancio Ortega and RosalÃa Mera, the brand is renowned for it’s ability to deliver new clothes to stores quickly and in small batches. Zara needs just two weeks to develop a new product and get it to stores, compared to the six-month industry average, and launches around 10,000 new designs each year. Zara was described by Louis Vuitton Fashion Director Daniel Piette as “possibly the most innovative and devastating retailer in the world. The company produces about 450 million items a year for its 1,770 stores in 86 countries. The Zara has made of use of Information Systems (IS) and to advance in many areas. This has resulted in huge success for the company. This included application of Business intelligence (BI) involves technologies, practices for collection, integration and applications to analyze and Continue reading
Case Study: Success of Starbucks Mobile Payment Application
Starbucks redefined highly competitive coffee shop business and successfully created an uncontested market by turning the simple coffee drinking experience into a way of life experience by drastically redefining the coffee shop environment by adding music, Wi-Fi, relaxed seating and luxurious interiors. Till Starbucks disrupted the traditional coffee shop market most of the focus was on the price, location and quality of coffee shops. Starbucks innovative value proposition includes wide variety of mostly coffee based menu along with other types of drinks that catered to wide range of audience who are willing to pay top buck for the luxurious and relaxed interiors that are perfect environment for socializing with friends and relax. Another important aspect that Starbucks focused was on the quality of customer service with an exclusive aim of maximum customer delight and they meticulously recruited and trained the best talent in the industry that has added huge value Continue reading
Types of Information Systems Used in Business
The implementation of the information system in the development of the business is most necessary now days. For most business, there are varieties of requirements for information. In every organization different level of management need different type of information for development of business. For example, senior management needs information to help with their business planning. Middle management needs more detailed information to monitor and control business activity. The employees at lower management need information to help them to perform their duties. In this global world information systems are playing important role in any organizations to meet their strategic goals. For the development of the business it very important to have good information system in each department of organization such as accounting, finance, marketing and human resource department to perform business operations. In addition, the technical terms of information system refers to the interaction between algorithmic process and the technology. The Continue reading
ERP Support and Maintenance
You have some decent computerized applications running in your enterprise. But you feel that you are actually leveraging the benefits of automation. Your inventory levels have not come down and items in slow moving category are on the rise. You are not getting the required Management Information Reports (MIS) as you would like to get. You realize that it is time to have a fresh look at your systems. You may approach a company that offers ERP consultancy as well as ERP support services. Generally these kinds of companies have expertise in business process re-engineering, project life cycle management. They may offer ERP support services like Enterprise Information Technology Policy, Planning, Requirements Analysis, Product configuration, Product Integration, Test and Evaluation etc. Based on your consultant’s recommendation, you may go for ERP implementation. There are many companies approved by ERP vendors who undertake ERP configuration, customization and implementation. These companies bring Continue reading