ITC-540 | Management PG | Information Technology
Business intelligence leverage software to convert information into actionable intelligence that notifies an enterprise tactical and strategic business decisions. Business intelligence tools access and evaluates data sets and provide analytical findings in summaries, dashboard, charts and graphs to offer users with precise intelligence about the business state.
It is a measurement of how effectively the business IT infrastructure can respond to the external threats or opportunities.
Strengths, Weaknesses, Opportunities and Threats are known as a framework for determining and analysing the internal factors having an impact on the viability of product, place, person or product.
A strategic plan defines the direction of organisation or work unit. The process of outlining this plan will assist the manager to know where they are now and where they want to go.
This is a conceptual blueprint which specifies the structure and business of an enterprise. It determines how an enterprise can most proficiently accomplish the present and future targets.
Management information systems
MIS is a study of technology, people and organisations. There is only need to show interest in the technology and desire to include this technology for improving the life of people.
DSS is an information system which supports decision-making activities and business of an organisation.
Cloud infrastructure is referred as hardware as well as software components like storage, servers, network and virtualisation software which needs to support computing specifications of a cloud computing model.
Data and text mining
Data and text mining is defined as automated analytical methods that perform by copying current electronic information and evaluating the information they involve for trends, patterns and other relevant information.
DMS is software takes data and transforms various forms of data into an individual storage container or integrates distinct data into consistent resource like database.
Big data is an evolving concept which describes the bulk amount of unstructured, structured and semi-structured data having the ability to be minded for data.
Some of the commonly used IT KPI is defined as beneath:
- Customer lifetime value
- Customer acquisition cost
- Customer satisfaction and retention
- LOB efficiency measure
- Percentage of product defects
- Customer support tickets
Software as a service enables a user to connect to and involve cloud-based applications over the web. SAAS offers an entire software solution that you can purchase by pay per usage from the service vendors.
Benefits of SAAS:
- Less internal responsibility: Cloud service provider is viable for maintenance of software, system updates and maintenance of customization using updates.
- Scalable and flexible: SAAS software provides much flexibility to integrate with current software interfaces.
Limitations of SAAS:
- Security issues: One of the major inhibitors associated with cloud adoption is access management along with the privacy of confidential information.
- Performance: A web-based application accessed through the internet and hosted remotely is likely to concern some business when compared with software executing on a local machine.
The organisation has over estimated the infrastructural capacity to manage the traffic which leads to loss of several customers.
Impact on competitive edge
This slow IT infrastructure compels customer of Liberty wines to migrate to other platforms to place an order for wines as they are unable to order wine through this website.
The benefit of server virtualisation:
Involvement of virtual server improves the response time of IT infrastructure of the organisation and enables liberty wines to decrease the range of servers desired to execute business operations.
Issues faced by FinCEN
FinCEN is defined as a system that is involved to control the issues related to money laundering.
IT updates desired by FinCEN
The manual system involved by FinCEN does not enable the usage of big data to evaluate the information.
Financial intelligence factors
- Ability of system to gather financial data
- Ability to analyse financial information
Potential to determine relationship and national security
The new system enables the usage of big data to determine the relation between financial data and different organisations.
Recent crimes determined by FinCEN
FinCEN suspects homes that are bought through cash containing at least 30% illegal purchases.
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