Sample Term Paper on: Management Information Systems
Management Information Systems
The Concerns of E-Commerce
In Internet time the attention span of customer is just 8 seconds. After that a shopper typically moves on. What's more is that the Forrester research reports that 42% of the people leave a site unsatisfied will never return (Forrester, 1999). The cost of business in uncompleted orders is simply staggering- early estimates put the monthly retailing losses at $58 million. The new research indicates that the figure has grown since then. Zona research estimates that slow web response could result in losses as high as $102 million per month for the consumer market alone. This is serious concern for the thousands of online retailing companies and it will soon be a concern for many more. E-Commerce and Data Warehousing
An obligation for victorious trade intellect Business brains is about the management a business by means of and examining a company's most priceless skill, its data. Using business intelligence tools, data can be accessed and examined to provide the decision-maker with important knowledge about the company's processes and financial performance as well as customers and suppliers. This knowledge can then form the foundation for mutually calculated and strategic decision-making in the company. IDC believes that in the future, global enterprises will increasingly use business intelligence to leverage their market position and achieve leadership. However, business decisions will only be as good as the information they are based on. In order for a company to have an efficient and successful business intelligence and reporting system in place, having a unified perspective of the company's data is imperative. Without an overview of the entire business, the ability to make sound judgments is lost. Without a global view of a customer it is not possible to provide the optimal service. Without corporate consolidated spend, negotiations with suppliers are weaker. The bottom-line is that without integrated company-wide information, business decisions are uninformed decisions. Reasons for the Information Integration Challenge
Providing a united view of the company's information assets to underpin business intelligence is what information integration is all about. IDC has identified a core set of requirements that information should comply with to form an appropriate basis for Business decisions. These are: Correct : Invalid data must not be permitted.
Complete : All the information relevant to the decision should be available. Current : The information should be sufficiently up to date for the purpose, and increasingly this means real-time currency. Consistent : Where information is drawn from different sources, each source should represent the same version of the truth. While this might seem obvious, the scope of the challenge is considerable. The world of today is characterized by constant change, and getting data that is correct, complete, current and consistent is becoming increasingly difficult. This business reality requires companies to embrace diversity and make the assumption that they and other companies are constantly evolving. It is this reality of continuous change that places the extreme demands of information integration on global organizations today. Large companies with subsidiaries in many different locations usually operate as a group of local units. Information is stored and managed in databases and packaged applications such as ERP systems that have been bought from multiple vendors or custom-built to meet the specific information management needs of the local subsidiary. These information systems will evolve independently of one another to reflect changes and developments in the local organizations. Trying to get a unified point of view of all systems is the...
Cited: Post, G., & Anderson, D. (2000). Management Information Systems.
Boston : Irvin McGraw-Hill. www.Amazon.com Date retrieved:
February 2, 2001
Date retrieved: February 2, 2001
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