¶ … high quality (error-Free) data entry.
Data entry is a vital part of a number of businesses. As such, it has to be of the highest quality and error-free. While there is generally no guarantee that data can be 100% error-free all the time, the more any data avoids errors the more likely the company will be to provide its customer with a good experience (Kos, Kosar, & Mernik, 2012). Additionally, companies that have data errors can end up in trouble because they are using the wrong details to make decisions about what they can and should be doing to move their business forward. If a company is not focused on entering data in a way that is free from errors (and omissions), that company can get a reputation as being sloppy and not well-prepared to handle its business and its customers (Kos, Kosar, & Mernik, 2012). Consumers who provide data to a company want to know that the company is being careful with that data, and not abusing or misusing it in any way.
When data contains errors, it can be more difficult to determine what the company has done with the proper data and where that data ended up (Kos, Kosar, & Mernik, 2012). Some companies also have confusing or convoluted ways of correcting data errors, and when there is an error in one piece of data it can quickly lead to errors being made in other data (Kos, Kosar, & Mernik, 2012). By the time an error is caught, there can be other issues because much more than the original error has to be corrected. Everything that has taken place since the time of the first incorrect entry and everything that was done based on that incorrect data must be located and corrected, as well (Kos, Kosar, & Mernik, 2012). That can be extremely time-consuming for a business, and can lead to serious and significant mistakes being made.
Kos, T., Kosar, T., & Mernik, M. (2012). Development of data acquisition systems by using a domain-specific modeling language. Computers in Industry, 63(3):181 -- 192.
2. What competitive advantages does agility provide to a manufacturing company?
Having a competitive advantage is a good thing for any company, and when a company works to manufacture goods it must stay ahead of its competitors or it can quickly lose ground, profit, and market share. By the time a company realizes that it is in a losing position, recovery can be difficult and the company is left scrambling (Porter, 1998). The goal, therefore, is to make sure the company never gets to that position, and the key to that is agility (Porter, 1998). People think of manufacturing companies as large, unwieldy businesses that cannot move fast or make rapid changes. They have huge buildings and giant pieces of equipment that produce a particular product. In that context, they do not sound very agile at all. However, manufacturing companies are realizing the value of becoming more agile, and they are beginning to make that part of their design from the beginning (Porter, 1998).
When a manufacturing company is agile, it is able to move with the times and adjust to changing market conditions and consumer attitudes (Porter, 1998). This can involve making more items or fewer items, depending on consumer demand, but it can also involve equipment that can be adapted to make more than one item or to change the size or style of an item easily. If a company wants to remain competitive in the goods it manufactures, it has to be prepared for changing conditions on a nearly daily basis (Porter, 1998). Getting a product to market after a consumer expresses a desire for it is often a
Porter, M.E. (1998). Competitive advantage: Creating and sustaining superior performance. NY: Free Press.
3. What is the role of data mining?
Data mining plays a significant role in the operation of many companies. Many people think of data mining as collecting information, but there is much more to it than that. Once the information has been collected, it also has to be analyzed and the meaningful information extracted from it (Witten, Eibe, & Hall, 2011). In other words, the data itself is just a random collection of numbers, names, and other bits and pieces of information. Companies take that information and turn it into something they can use to decide which direction to take next or determine their target market (Witten, Eibe, & Hall, 2011). Until and unless a company does that, however, the data that is collected (mined) is not going to provide the company with anything of real value. Just having the information does not help the company unless that company knows what to do with the information -- and that is where a number of companies run into difficulties.
The role of data mining in any company should be one of collection, but also of analysis. When one mines something from the ground, he or she pulls up a lot of things that are not needed, and sifts through that to find the things that are desired. Gold, diamonds, and a number of other precious things are mined this way. It can be helpful for companies to see data mining in the same context. Much of what they collect may not even be valuable to them, but they can sift through all of the data they have acquired and find the parts of it that provide them with value they can use (Witten, Eibe, & Hall, 2011). Then they can take that data and work with it in a way that will benefit the company moving forward. The other data is not needed, and over time companies will develop a better sense of what they really need to collect.
Witten, I.H., Eibe, F., & Hall, M.A. (2011). Data mining: Practical machine learning tools and techniques (3rd. ed.). NY: Elsevier.
4. What are two challenges of legacy systems?
Legacy systems are those that are old or outdated. Because they are not the most up-to-date choices for companies, they can have problems that would not be seen with newer systems. One of those problems, or challenges, is getting new hardware and software -- including parts and updates -- for these systems (Bisbal, et al., 1999). As long as the system continues to work well, the company can keep using it. The cost of changing it may be high, so the company would prefer to avoid upgrading it to something else. In the meantime, though, the system can (and often will) break down in some way or need various types of repair (Bisbal, et al., 1999). When an older, legacy system needs to be repaired or the software needs to be updated, finding what is needed can be difficult and expensive. Eventually, the company will generally find that the cost to maintain the legacy system is actually more than it would cost them to replace it with a newer system (Bisbal, et al., 1999).
Another challenge with legacy systems is the speed at which they operate (Bisbal, et al., 1999). When they were first created they were likely the fastest things on the market, but over a period of time many new options have appeared, and those options are faster and more reliable than older system. Companies that do not rely heavily on their legacy system will not notice this as much as companies that do almost everything through their system, but any company can be slowed by these older systems (Bisbal, et al., 1999). This can serve as a source…
Market Analysis The third principle, that markets that don't exist can't be analyzed, reminds managers that assessing the effects of disruptive technologies is often counter-intuitive to good management practice. Many companies require the development of a business case and a business plan for new products. This approach is generally very successful when applied to sustaining technological innovations, because the market is well-known; however, when companies apply this strategy to new, emerging
Business Information Systems What is a Business Information System? A program involving a business information system would prepare the person who is studying the intricacies of the process to be able to oversee the efficient and proper manner in which to use computer hardware and software systems. The individual who has completed the training process in a business information system would be able to work as a computer programmer, or a
[2: www.med.govt.nz/business/business.../structure-and-dynamics-2011.... ] The primary research of the Auckland market presents the following sectors for consideration for the new venture: The demographics in the target market include: college going and married women with children who either are working mothers or stay-at-home mothers; this makes the age group anywhere between 25 to 55; the overall annual income of the household is more than AUS $100,000; the property owned by the target individual
Although intranet pages may provide links to the Internet, an intranet is not a site accessed by the general public" (Housel and Hom, 1999). Aside from the intranet, the company also uses a wide array of anti-virus programs, firewalls and virtual private networks. The scope of these software applications is that of screening the information which flows between all the organizational computers (Answers, 2011). At the level of the organization,
The level of integration within each of these competitors is readily apparent in their approach to developing e-commerce applications. Proposal for Web Presence The following is a proposal for a Web presence which will give PZE Puzzles competitive parity with each of the competitors profiled in this analysis in the short-term and provides the necessary foundation for surpassing these competitors in the long-term. Inherent in this proposal is the need for
Business Summaries This chapter addresses the reasons that one should study business and businesses to begin with. The authors make the point that they do not intend for this to be a narrow study that just focuses on particular examples of successive and failed businesses, although it will include case studies too. But the major point of studying business, the authors write, is to provide a larger sense of what is needed