Answer ALL Questions.
1. What is the difference between information technology and information systems? Describe some of the functions of information systems. In your answer include two examples of information technologies and two examples of information systems. Information technology is the use of computer hardware, software and associated technologies to process data and achieve company’s business objectives. Some examples of information technologies include mobile computer devices such as PDAs as well as online banking software. Information technology can be thought of essentially as a way of implementation and management of computer information systems. Information system is a computerized set of interrelated tools and procedures that collect and store data, and produce information. Main function of the information system is transforming the data into meaningful information and as a result supporting the decision making process. An information system can be for instance collecting employees’ personal details, bank account details and the amount of hours worked and turning it into monthly payroll and tax payments. Another example is paying bills online where the information about payment request such as amount, date and account details is collected, processed and sent to the correct bank account. 2. You are a marketing manager for a national movie theatre chain. Give and example of three pieces of data that your department could use for creating meaningful information. What type of information could that data produce? Data is a stream of raw and unorganized facts that have no real meaning. Information is data that have been arranged into a meaningful and useful form. Its value is mainly in its ability to affect the decision making process and outcome. A marketing department of a movie theatre chain could collect data containing the amount of tickets sold to a particular movie at various cinema locations on different days of the week, amount of concession tickets sold and personal information obtained through online ticket sales. The marketing department could use this data to identify the type of audience that uses the movie theatre as well as what kind of movies are most popular and what are the busiest screening days and times. It could help to produce a personalized email or online advertising based on each customer’s previous movie choices. It could also be used to allocate the best screening slots to the most anticipated releases to maximize the future ticket sales and increase profits.
3. You work at the business headquarters for a chain of movie theaters. Describe the firm’s information value chain. Provide an example of each stage in the value chain. A value chain is a set of consecutive activities that increase the value of a product of service at every stage. An information value chain model can be described as follows: 1. data collection
2. generating of information
3. knowledge application
Data collection process can include acquisition of customer information, ticket sales transactions, customer enquiries etc. This data can be then processed and arranged into sales reports and customer databases. This process adds value to the information and makes it available to use by management to support decision making activities. It is then transformed into knowledge. A company can apply this knowledge for example to decide what genres of movies should be showcased in the future based on popularity and ticket sales to the previous titles. It could also create customized advertising materials for different sets of customers. All this can provide a company with a competitive advantage over its competitors. 4. Provide three examples of how does a company’s use of information systems affect its corporate strategies? A corporate strategy of an organization can be defined as its approach to future development of the company by its choice of business, markets and activities. An information system is an organized set...
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