Identify five different IT systems that have affected business in the past few years. For each system, briefly note the following:
· A name for the system
· The area of business it affects
· What changes the system brought to the business world
· What business processes changed because of the system
· Likely future effect of the system
Four current technology trends that offer valuable business opportunities are social, mobile, cloud, and data analytics. These ITs are often used in combination to gain a competitive edge, to expand market reach, and to develop new features or ways of doing business.They make it easier and cheaper to connect with customers and suppliers, to work with others from anywhere, and to manage files and data. (Chapeter one page 5)
Data Analytics 6 Chapter 1 A Look Toward the Future of Information Technology Data analytics refers to the specialized software, capabilities, and components all geared toward exploring huge volumes of data to provide greater insight and intelligence— and doing so quickly. Macys’ and other large retailers used to spend weeks reviewing their last season’s sales data.With data analytic capabilities, they can now see instantly how an e-mailed discount code or flash sale for athletic wear played out in different regions. Charles W.
Berger, CEO of ParAccel (ParAccel.com), a data analytics provider said:“We have a banking client that used to need four days to make a decision on whether or not to trade a mortgage-backed security.They do that in seven minutes now.” Data analytics is used by Wal-Mart stores to adjust its inventory levels and prices; and by FedEx for tweaking its delivery routes. IT at Work 1.1 identifies other users of data analytics.
Data analytics can help companies achieve these business outcomes:
• Grow their customer base
• Retain the most profitable customers.
• Continuously improve operational efficiency.
• Transform and automate financial processes.
• Detect and deter