The term E-business (electronic business) is similar to terms like e-mail, e-commerce, helping not only in buying, selling but also in servicing customers and collaborating with business partners. Today, major corporations are rethinking their businesses in terms of the internet and its new culture and capabilities. Companies are using web to buy parts and supplies from other companies, to collaborate on sales promotions, and to do joint research. Exploiting the convenience, availability, and world-wide reach of the Internet, many companies, have discovered how to use the Internet in a better way. After the first wave of e-business, ‘bricks and clicks’ businesses — those with both a traditional and e-commerce approach — find that, while they already have sound financial resources, they, too, must find the right e-business model(s) for generating profitable revenue streams from the Internet. In terms of operationalising the e-business strategy a variety of e-business models are now Continue reading
Modern Information Systems
Role of Digitalization in Business Growth
Digitalization refers to the use of digital technologies to transform and automate business processes. The adoption of digitalization has played a significant role in business growth. It has revolutionized the way companies operate and engage with customers, employees, and other stakeholders. In this article, we will explore the role of digitalization in business growth and how it has transformed traditional business models. Digitalization and Business Growth Digitalization has played a vital role in business growth by enabling companies to automate processes, streamline operations, and reduce costs. One of the key benefits of digitalization is that it has enabled businesses to reach a broader audience by using digital channels such as social media, search engines, and online marketplaces. This has allowed businesses to tap into new markets and expand their customer base, resulting in increased sales and revenue. Another significant benefit of digitalization is that it has enabled businesses to improve Continue reading
The Rise of Artificial Intelligence: A Critical Evaluation
Generally, when most hear the words artificial intelligence, the first thing that comes to mind is menacing robots. However, this is not accurate. Artificial intelligence is an imitation of human knowledge that is programmed in different machines, using algorithms, to simulate the thought process and actions of humans. The first concepts for AI started in the 1950s, where many mathematicians, scientists, and philosophers explored the possibility of machines that problem solved and made decisions like humans. Over the years, AI research has grown by leaps and bounds, and many programs created, are used daily. From virtual assistants like Siri to the use of autopilot on an aircraft, artificial intelligence is everywhere, even in education in the form of the AI essay writer. Further research on AI raises awareness and helps those gain the knowledge to understand how beneficial or dangerous this technology could be. As artificial intelligence continues to develop, many Continue reading
Electronic Data Interchange (EDI)
Concept of Electronic Data Interchange (EDI) Traditionally, the transfer of data from one company to another has been by paper documents. This is known as a paper-based system. These documents have to be manually forwarded and entered to the destination computer. Electronic Data Interchange (EDI) is the electronic exchange of standard business information, in standard formats, between computers. EDI eliminates the need for a paper-based system by providing an electronic link between companies. This reduces data entry tasks and improves business cycle times. Electronic Data Interchange (EDI) is the electronic transfer of structured business documents in an organization internally among groups of departments or externally with its suppliers, customers and subsidiaries. The documents likely to be used in EDI are invoices, purchase orders, shipping requests, acknowledgements and payments. EDI Continue reading
Introduction to Cloud Computing
As a metaphor for the Internet, “the cloud” is a familiar cliche, but when combined with “computing,” the meaning gets bigger and fuzzier. Some analysts and vendors define cloud computing narrowly as an updated version of utility computing: basically virtual servers available over the Internet. On the other hand others go very broad, arguing anything you consume outside the firewall is “in the cloud,” including conventional outsourcing. The most common analogy to explain cloud computing is that of public utilities such as electricity, gas, and water. Just as centralized and standardized utilities free individuals from the vagaries of generating their own electricity or pumping their own water, cloud computing frees the user from having to deal with the physical, hardware aspects of a computer or the more mundane software maintenance tasks of possessing a physical computer in their home or office. Instead they use a share of a vast network Continue reading
Introduction to Knowledge Management Systems (KMS)
The aim of every organisation is to achieve its set goals and objectives as well as secure competitive advantage over its competitors. However, these cannot be achieved or actualized if staff or workers act independently and do not share ideas. Today, prominent businesses are becoming more aware that the knowledge of their employees is one of their primary assets. Sometimes organisational decisions cannot be effectively made with information alone; there is need for knowledge application. An effective knowledge management system can give a company the competitive edge it needs to be successful, and, for that reason, knowledge management projects should be high priority. Knowledge Management Systems (KMS) “developed to support and enhance the organizational knowledge processes of knowledge creation, storage, retrieval, transfer, and application (Alavi & Leidner, 2001) This means that for any organisation to be competitive in today’s global world there is need for combination or pooling together of Continue reading