Answer The Question: Give Three Business Data Examples

Answer The Questiongive Three Business Examples Of Data That Must Be P

Provide three business examples of data that must be processed to generate useful information. Consider various types of data such as sales figures, customer feedback, inventory levels, or financial transactions, which are critical for strategic decision-making, operational efficiency, and customer satisfaction. For instance, a retail business processes point-of-sale data to analyze sales trends, inventory levels to optimize stock management, and customer preferences to personalize marketing efforts. A manufacturing firm processes machine performance data to predict maintenance needs, quality control data to ensure product standards, and supply chain data to manage logistics effectively. A financial services company analyzes transaction data to detect fraud, customer data to tailor financial products, and market data to inform investment strategies. These examples highlight the importance of processing raw data into actionable insights that support business objectives.

Businesses utilize mobile computing or web-based information systems to enhance operational efficiency, improve customer engagement, and support remote or decentralized workforces. Mobile computing systems are particularly useful for real-time data access and on-the-go decision-making, such as sales representatives updating client information during visits or delivery personnel tracking shipments. Web-based systems facilitate cloud collaboration, remote customer support, and access to enterprise resources from various locations. For example, a retail chain implementing a mobile POS system allows staff to process sales anywhere within the store, offering convenience and quicker checkout. Alternatively, an e-commerce company might use a web-based inventory management system to update stock levels across multiple locations instantly. The choice between mobile and web platforms depends on operational needs; mobile systems excel in on-site, real-time applications, while web systems are preferred for centralized data management accessible from multiple devices.

Two phenomena that present social concerns due to information technology are data privacy violations and cyberbullying. Data privacy violations occur when personal or sensitive information is improperly accessed, shared, or stolen, undermining individual privacy rights and trust in digital systems. Cyberbullying involves the use of digital platforms to harass, threaten, or humiliate individuals, especially among minors, leading to psychological harm and societal issues. These phenomena raise ethical questions about data security and the responsible use of technology, emphasizing the need for effective cybersecurity measures, privacy regulations, and digital literacy initiatives to mitigate their impact.

Decision-making scenarios arise when businesses must evaluate options under uncertainty, such as choosing suppliers, launching new products, or entering markets. Three examples include: 1) Deciding whether to outsource customer service operations based on cost and quality considerations, 2) Determining pricing strategies in response to competitive pressures, and 3) Choosing investment opportunities amid fluctuating market conditions. In addition, raw data itself can sometimes serve as useful information. For example, real-time traffic data informs commuters about congestion and optimal routes; sensor data from manufacturing equipment detects anomalies indicating potential failures; and social media analytics reveal consumer sentiment about a product or brand. These raw data sources provide immediate insights that aid quick, informed decisions.

Short-lived advantages from a Strategic Information System (SIS) often occur because competitors quickly develop similar systems, technological innovations become obsolete, or market conditions change rapidly. Consequently, a company that gains a significant edge from an SIS must continuously adapt and upgrade its systems to sustain competitive advantage. Organizational conditions necessary for effective SIS implementation include clear strategic goals, executive sponsorship, adequate technological infrastructure, and a culture that supports continuous improvement and data-driven decision-making.

Adobe's recommendation for PC users to download Acrobat Reader and Flash Player at no cost helps it establish widespread usage and dependency on its software ecosystem, fostering customer loyalty and increasing the likelihood of cross-selling other products. Giving away free applications reduces barriers to adoption and promotes standardization across devices, making Adobe's services more attractive and integrated. Strategically, this approach generates revenue through licensing, upgrades, and related services. Although the core software is free, Adobe profits from enhanced features, enterprise solutions, and targeted advertising, demonstrating how free offerings can serve as a marketing and revenue-generating strategy.

An off-the-shelf computer program generally cannot serve as a fully functional SIS because SISs require customized integration with business processes, specific data management, and real-time decision support capabilities. Off-the-shelf systems are often inadequate for addressing unique organizational needs and may lack the flexibility or scalability required for a strategic system. Custom-developed SIS solutions are tailored to the organization’s strategic goals and operational workflows, providing a competitive advantage.

Business strategy resembles military strategy in its emphasis on objectives, resource allocation, tactics, and adaptability. Both require careful planning, scenario analysis, and responsiveness to changing conditions. In the digital age, rapid online response capabilities in investment Information Systems (ISs) are crucial, especially in stock trading platforms where milliseconds can influence profit. For example, during stock market volatility, high-frequency trading systems enable traders to execute orders swiftly based on real-time data, reducing lag and capitalizing on fleeting opportunities.

Shipping software in supply chains primarily improves two areas: First, it optimizes transportation routes and schedules, reducing costs and delivery times. Second, it enhances tracking and visibility of shipments, allowing stakeholders to monitor stock movements and improve coordination. These functions lead to increased efficiency and responsiveness in the supply chain operations.

The purpose of accounting is to systematically record, classify, and summarize financial transactions, providing stakeholders with accurate information about an organization’s financial health. Radio Frequency Identification (RFID) technology uses electromagnetic fields to automatically identify and track tags attached to objects. RFID tags contain electronic data stored in microchips, which can be read remotely without line of sight. Characteristics of RFID include fast data capture, bulk reading capability, and resistance to environmental factors. Despite technological feasibility, many buyers are reluctant to link Supply Chain Management (SCM) systems with suppliers and buyers due to concerns over data security, loss of control, proprietary information, and the complexity of integrated systems. Trust issues and competitive sensitivities often hinder full adoption.

Computer power is generally determined by factors such as processing speed (measured in GHz), memory capacity, storage capability, and processing architecture. The four basic operations a computer must handle are input, processing, storage, and output. Among external storage devices, all but one store data on a surface: hard drives, optical discs, and flash drives store data on surfaces, whereas solid-state drives (SSDs) store data in circuitry. "Footprint" in hardware refers to the physical size or space that a device occupies. In offices, footprint considerations are important to optimize workspace, especially for large equipment like servers or mainframes, to ensure efficient use of space and accessibility.

While some argue that large computers like mainframes and supercomputers have no future, this statement is false. These powerful systems continue to exist because they are essential for specific applications such as scientific research, weather modeling, and large-scale data processing. Although cloud computing is changing the landscape, the demand for high-performance computing persists in specialized fields where massive processing power is required, making the future of these large systems still relevant.

References

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