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Review The Rubric For Full Details To Begin You Will Start

To begin, you will start with the introduction, business requirements, and competitors and technology. Your goal in the final project is to establish an e-commerce presence, but first, you must improve the current technology. Competitor: Kohl's Two of the following technologies to focus on in your business systems analysis paper: Big data and knowledge management Social computing. Imagine that you work for the small brick-and-mortar business described in the final project case scenario. The owner of your business wants to focus on generating new revenue through e-commerce, but she knows that this change in operations requires the company to integrate new technology.

To gain an understanding of what the business might need for technology, she has asked you to create a business systems analysis. In this analysis, you will clearly introduce the problem that your business is facing. Then, you will determine the business requirements for solving that problem, including the requirements that any new technology needs to meet. Your goal in the final project is to establish an e-commerce presence, but you must improve the current technology first. Use the Decision Matrix document as you conduct your research for assistance organizing your thoughts.

Specifically, the following critical elements must be addressed:

I. Introduction: In this section, you will briefly introduce the small business from the case scenario, and the problem that it is trying to solve.

A. Clearly state the problem that the business owner is seeking to solve. Be sure to address the question of what your business ultimately wants to do.

B. Identify and briefly describe the two technologies from the list provided that you will research in your business systems analysis.

II. Business Requirements: In this section, you will determine what the business requirements are to solve the stated problem, and establish the criteria that will help form your technology recommendations. You will also articulate why the business owner should undertake the project of integrating new technology.

A. Explain the objectives of undertaking this project to integrate new technology. In others words, what should the project accomplish, and how does it support the goal of your business?

B. Provide a project description that explains the purpose of the project. Be sure to address the following:

i. What does your business need to do to satisfy the objectives?

ii. What are the desired results at the end of the project?

iii. Why is it important for your business owner to consider implementing new technology?

C. State the key technological requirements that will be required of any new technology in order to effectively solve your business’s problem. In other words, what specifically does the technology need to be capable of doing? (These are the technology requirements in the decision matrix.)

III. Competitors and Technology: In this section, you will describe two competing companies that operate in the same industry as your business. You will also explain how a company uses the two technologies that you are investigating to determine if the technology may be appropriate for your business to use. Remember that a list of competing companies was provided to you in the final project case scenario.

A. Technology One: Select one company in the same industry as your own that uses this technology. Briefly describe what that company does and how it uses this technology to support its business in general. Include specific examples.

B. Technology Two: Select one company in the same industry as your own that uses this technology. Briefly describe what that company does and how it uses this technology to support its business in general. Include specific examples.

C. Referring to what you learned in your research on the companies above, explain one specific way in which one of the companies is benefiting from technology, and describe the potential benefit to your business if you were to adopt the same approach.

Paper For Above Instructions

Introduction

The e-commerce landscape has evolved dramatically over recent years, necessitated by technological advancements and changing consumer behavior. The small business in focus is a local retail store that has traditionally operated as a brick-and-mortar establishment. The primary problem that this business owner faces is the need to generate new revenue streams through e-commerce, leveraging new technologies. The goal is to expand online presence while improving existing technologies to align with business objectives.

The two technologies selected for analysis are Big Data and Knowledge Management. Big Data refers to the vast amounts of data generated by consumers online and in-store interactions, which can be analyzed to gain insights into consumer behavior, operational efficiency, and market trends. Knowledge Management is the systematic handling of information to facilitate the sharing of insights and experiences within the organization and with consumers, enhancing decision-making processes.

Business Requirements

Integrating new technology is essential for the brick-and-mortar business for several reasons. The primary objective is to enhance customer experience by providing an integrated online shopping option, enabling the business to reach a broader customer base. Moreover, the integration aims to streamline operations, improve inventory management, and facilitate personalized marketing initiatives.

The business needs to undertake a project that not only incorporates e-commerce capabilities but also ensures that any technology adopted meets specific key requirements. Objectives such as providing a seamless shopping experience, gaining actionable insights through data analysis, and improving customer engagement must be central to this project. For instance, using analytics tools to gauge customer preferences and purchasing behavior will help tailor marketing strategies effectively.

Key technological requirements for this system include: robust analytics capabilities, user-friendly interfaces for customers, integration with existing inventory systems, high-level data security to protect customer information, and effective content management systems (CMS) that enable easy updates to product listings and promotions.

Competitors and Technology

As this business transitions to e-commerce, it is crucial to analyze competitors such as Kohl’s and Target, both known for their successful technology implementations. Kohl’s, for example, has successfully integrated Big Data analytics to enhance their inventory management and targeting of marketing campaigns. They utilize customer purchase history data to analyze trends and preferences, thus creating tailored promotional campaigns that effectively increase sales.

Target presents a shining example of effective Knowledge Management practices. They employ a robust platform to foster collaboration and information sharing across departments, ensuring that insights gleaned from data analytics are accessible and actionable. This practice not only improves operational efficiencies but also empowers employees to make informed decisions based on up-to-date information regarding consumer trends and preferences.

One specific way Kohl's benefits from adopting Big Data technology is through personalized promotions. For instance, a customer receiving tailored discounts based on previous purchases significantly enhances the shopping experience, potentially increasing customer loyalty. If this local business were to adopt a similar approach, it could implement targeted marketing campaigns based on customer preferences gleaned from online interactions, ultimately enhancing revenue and customer satisfaction.

Conclusion

To sum up, improving technology infrastructure through the integration of Big Data and Knowledge Management is vital for the brick-and-mortar business aiming for an e-commerce presence. By clearly identifying the technology needs and understanding how competitors leverage these technologies, the business is poised for successful implementation of a new e-commerce strategy. The anticipated benefits include enhanced customer engagement, improved operational efficiencies, and ultimately, increased revenue streams.

References

  • Chaffey, D. (2021). Digital Marketing: Strategy, Implementation and Practice. Pearson.
  • O'Leary, D. E. (2017). Big Data and Business Analytics. Wiley.
  • Laudon, K. C., & Laudon, J. P. (2020). Management Information Systems: Managing the Digital Firm. Pearson.
  • Galliers, R. D., & Leidner, D. E. (2020). Strategic Information Management: Challenges and Strategies in Managing Information Systems. Routledge.
  • McKinsey & Company. (2020). How retailers can leverage data for marketing and customer engagement.
  • IBM. (2023). What is Big Data? Available at: [IBM Big Data Overview](https://www.ibm.com/analytics/big-data-analytics)
  • Nonaka, I., & Takeuchi, H. (2021). The Knowledge-Creating Company: How Japanese Companies Create the Dynamics of Innovation. Oxford University Press.
  • Porter, M. E. (2001). Strategy and the Internet. Harvard Business Review.
  • Target Corporation. (2023). Corporate Responsibility Report. Retrieved from Target's official website.
  • Kohl's Corporation. (2023). Kohl's Corporate Website - Investor Relations. Retrieved from Kohl's official website.

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