Strategies for information Flashcards
Why do organisations need information?
Planning Controlling Recording transactions performance measurement Decision making marketing training
Qualities of good information
ACCURATE
Accurate Complete Cost beneficial user targeted Relevant Authoritative Timely Easy to Use
Development and Implementation - what can go wrong?
Analysis, Design, Programming, Testing, Conversion, Implementation
Analysis
The problem the system is intended to solve is not fully understood
Investigation of the situation is hindered by insufficient resources
Insufficient time - or insufficient time spent planning
Design
Insufficient user input
Lack of flexibility, future needs neglected
System requires unforeseen changes in working patterns
Failure to perform impact analysis
Ergonomics, health and safety, compliance with legislation, employee involvement
Programming
Insufficient time and money spent on programming
Programmers supplied with incomplete or inaccurate specifications
The logic of the program is misunderstood
Poor programming technique
Not adequately documented
Testing
Insufficient time and money allocated to testing
Failure to develop an organised testing plan
insufficient user involvement
User management do not review and sign off the results of testing
Conversion
Insufficient time and money allocated to date conversion
Insufficient checking between old and new files
Process rushed to compensate for time overruns elsewhere
Implementation
Insufficient time, money or staff therefore rushed
Lack of user training increases underutilisation and rejection risk
Poor system and user documentation
Lack of performance standards
System maintenance provisions are inadequate
Risks from IT systems
Natural threats - fire, flood, electrical storms
Data systems integrity - incorrect entry of data, out of date data
Accidents - coffee spills etc.
Non compliance with regulations - ie data protection act
Cyber security threats
Human threats Fraud Deliberate sabotage Viruses Denial of service attack
Security Definition
The protection of data from unauthorised modification, disclosure or destruction and the protection of the information system from the degradation or non availability of services - in other words, system failure.
Security controls
Pervasive Developmental Disorders Related to Creative Thinking
Prevention Detection Deterrence Recovery procedures Correction procedures Threat avoidance
ICAEW recommendations (cyber risks)
The board should promote greater awareness of cyber risks and ensure that managers are responding accordingly
Develop a security focused culture that seeks to continually improve upon its past implementations
promote transparency and accountability by including approach, management and mitigation of cyber risks in the annual report
Address cyber risks by improving the IT environment with respect to controls over legacy and modern systems
Develop talent management strategies to attract and retain skilled individuals
Practical actions
Business continuity planning to make sure the business can still function
systems access control
physical and environmental security
compliance with regulations
personnel security
organisation structure includes accountability
asset classification and security - asset should have an owner who takes responsibility for it
security policy
computer and network management - minimise the risk of system failure e.g virus software
Big data - Enhanced data transparency
Big data can create value by making the data held within the business more transparent and usable. This may be making previously held data easier to process or by integrating data between various departments eg marketing information about customer requirements with R&D about product possibilities
big data - enhanced performance
Collecting real time data and analysing it to make sure that levels of performance are maintained can help firms to take corrective action and enhance performance. For example tesco set up an energy management system to track energy consumption and highlight irregularities or hotspots in consumption to the maintenance team.
Big data - Market segmentation and customisation
Big data allows the segmentation of markets in real time allowing for tailored promotions and customised products. For example major supermarkets collect data about your expenditure from loyalty cards or by tracking your credit/debit card. This allows them to send out offers to entice you back.
Big data - Improved decision making
Using real time sales data should allow the business to make decisions about pricing.
Big data - new products and services
Collecting big data allows firms to develop new products to meet customer needs. This is shown in the introduction of back boxes in cars to allow insurers to reduce premiums in exchange for safer driving.
Criticisms of big data
Just the latest buzzword
Failure to understand cause and effect (eg Google flu tracker)
Data overload resulting from failure to focus on the data which can be used in the business
Difficulty in verifying data
Obtaining a representative sample of the whole population (eg younger market)
although data leads to competitive advantage in the past, there is doubt as to whether this is sustainable as rivals copy
