BIS Flashcards
Characteristics of Information
Accurate: Free from errors and a true reflection of reality.
Complete: Contains all necessary details without omissions.
Relevant: Pertinent to the user’s needs and context.
Timely: Available when needed and up-to-date.
Clear: Easily understandable and free of ambiguity.
Consistent: Matches with other information and is free from contradictions.
Accessible: Easily retrievable in a suitable format.
Cost-effective: Worth the cost of obtaining it.
Valid: Derived from credible sources and based on sound reasoning.
Verifiable: Can be checked for accuracy and reliability.
Components of Information Systems
Hardware: The physical devices and equipment used in the system (e.g., servers, computers, networking equipment).
Software: The applications and programs that process data (e.g., database management systems, enterprise software).
Data: Raw facts and figures that are processed into information.
Procedures: The methods and policies governing the operation and use of the information system.
People: The users and IT professionals who interact with and manage the information system.
Databases
Telecomms System.
Define information System
organized systems designed for the collection, organization, storage, and communication of information. They use technology to manage and process data, turning it into meaningful information that supports decision-making and other organizational functions.
Types of Information Systems
Transaction Processing Systems (TPS): Handle routine transactions such as sales and payroll.
Management Information Systems (MIS): Provide information needed to manage organizations effectively.
Decision Support Systems (DSS): Help with decision-making by analyzing large amounts of data.
Executive Information Systems (EIS): Provide top executives with easy access to internal and external information.
Customer Relationship Management (CRM) Systems: Manage interactions with customers.
Enterprise Resource Planning (ERP) Systems: Integrate core business processes.
costs
Benefits of Information Systems:
Enhanced Decision-Making: Provides accurate and timely information to support strategic decisions.
Enhance Productivity
Increased Efficiency: Automates routine tasks and improves productivity.
Improved Communication: Facilitates better communication within the organization and with external stakeholders.
Data Management: Efficiently manages and processes large volumes of data.
Competitive Advantage: Provides insights that can help businesses innovate and stay ahead of the competition.
Cost Reduction: Streamlines processes and reduces operational costs
Functions of INFOSYS
All information systems carry out a series of functions that may be classified as
follows:
– Data capture and collection.
– Storage.
– Information processing.
– Distribution or dissemination of information.
Categories of Business information
Strategic Information: Long-term planning and major decision-making (e.g., market trends, competitive analysis).
Tactical Information: Medium-term planning and resource allocation (e.g., sales analysis, budget management).
Operational Information: Day-to-day operations and routine tasks (e.g., inventory management, employee scheduling).
Statutory Information: Legal and regulatory compliance (e.g., tax filings, regulatory reports).
How Business Information Systems enhance productivity
by
1. automating tasks,
2. improving communication,
3. streamlining operations,
4. managing data, and
5. handling customer relationships.
They maintain strategic competitiveness by providing market insights, fostering innovation, aiding strategic planning, offering customer insights, optimizing supply chains, and managing risks.
Business Information Systems enhance productivity by automating tasks, improving communication, streamlining operations, managing data, and handling customer relationships. They maintain strategic competitiveness by providing market insights, fostering innovation, aiding strategic planning, offering customer insights, optimizing supply chains, and managin
Business Information Systems enhance productivity by automating tasks, improving communication, streamlining operations, managing data, and handling customer relationships. They maintain strategic competitiveness by providing market insights, fostering innovation, aiding strategic planning, offering customer insights, optimizing supply chains, and managing risks.
Types of Information in Business Management
In business management, information is essential for decision-making, planning, and controlling various functions within the organization. The four main types of information used are:
Strategic Information
Tactical Information
Operational Information
Statutory Information
