Management Information On Decision Making Information Technology Essay

Management entropy On Decision Making cultivation Technology EssayIn today advance technological and competitive military control environment Management info System plays a vital role. This subsidisation report explains how randomness way changes the boilersuit structure of the validation and how it effects the different aspect of make-up business such as strategic finality making, In arrangeion sharing, production, financial, merchandising and node interaction. Some entropy and cultivation valuation methods are discussed which provides high prize entropy to the centering randomness constitution for the conclusion of important task. Finally finis-making tools such as SWOT and ASHEN are discussed that how these tools table serviceing in decision-making.ASSIGNMENT GUIDELINES7004-STRATEGIC INFORMATION MANAGEMENTASSIGNMENT QUESTIONWith comm breakation to your disposal, identify strategic study formation (IS) issues and captiously analyze and evaluate the boldnesss practice to solve the problems connected with consumeing strategic nurture systems. Also discuss the wider organizational implications of the steps taken by the organization in the use of IS and their consequences.Your report should cover the following learning outcomes and assessment criteria-LO1 Understanding the impact of management study on decision makingThe basic concern of Management Information System (MIS) is the collecting, processing, storing, exchanging and transmission of the appropriate breeding in the organization for the support of management operations. therefore with help of this appropriate reading collected from different process, an organization foot make a successful decision. In the absence of Management Information System (MIS) there is small chances for an organization to achieve its targets and business growth.Assessment Criteria1.1 Identify the features of info and entropy info information is defined as the collection of facts about events. This collection of facts is in raw form authority that an unorganised and unprocessed form, which trick non be use for meaningful purpose for example Name, Age, Price and so forthInformationInformation is defined as a wholesome-organised, well-processed and meaningful form of data generated from raw data. The end users utilises this meaningful data for making a decision easily for example Employees Records, Sale Report etc.Accessibility, Relevance, comprehensibility, timeliness and accuracyIn any make-up it is important that accessibility to reading essential be provided to all departments employees it means that accessibility of entropy to the management and other staff. The accessible entropy must(prenominal)(prenominal)(prenominal) be applicable to the processes, functionality and operations of that department. The information must be comprehensible i.e. clear, well organised and structured, must be timelines i.e. suitable to complete related task and must be accurate to generate the expected bequeath straightlacedly.Determine the criteria to be applied when selecting data and information to support decision-makingIn business environment data is a valuable asset for any administration. The data must be collected carefully because organisation decision-making processes are based on the generated information from this data. While selecting data and information for decision-making we must apply few criteria to this selection such as accuracy, validity, clarity etc.Data selection criteriaAccuracy, completeness, validity, consistencyAccuracyData accuracy is vital role in management information because an accurate data can generate exceedingly valuable results. For data accuracy timeliness is important otherwise there pass on be errors in the result.CompletenessThe completeness of the data means the availability of latest data for decision-maker. The incomplete data can lead to poor decision-making management information.ValidityThe validity of data mean data must be collected carefully and from an authentic source. The source of data must be know and verified.ConsistencyThe consistency of data is key role in good management information because it generates reliable, steady, well-organised and well-structured information.Information selection criteriaData step, definition clarity, relevance, presentation, timeliness, availabilityData qualityTo generate highly valuable and standard information data must be according to certain quality standards such as data must be in the appropriate format, well structure, well-organised and standard transferring method must be use.Definition clarityThe generated Information must be clear and easily understandable, this will give up organisation employees to use the skillful information in the right place.RelevanceInformation must be relevant to a task that it can be examined and packaged into an effective format. This is helpful that the management information is having to the point information but the information must not be incomplete.PresentationThe management information must be able to present information in the right format, sight, well-structured and attractive design. This will describe a clearer picture of the organisation.TimelinessThe information must not take longer time i.e. must be concise and to the point that the management information can quickly response.AvailabilityThe regular availability of information must be guaranteed to the management information that all tasks can run smoothly and the management information is able to generate up to particular age results.Evaluate the impact of a management information system to an organisationIncreasing productivity and creativityManagement information system provides knowledge to workers accessing information resources. apply this knowledge the productivity of organisation is increased rapidly i.e. manufacture more products in short time. Not only this but also it brings raw ideas a nd inspiration into the organisation.Developing policiesManagement information system helps organisations to get maximum benefits from the extensive use of these information resources in developing policies i.e. cookery, implementation and evaluation in the organisation.Use of strategic information resourcesIn the management information system the strategic information resources helps organisation in increasing productivity and brings new innovation. Organisations are able to do better planning, implement new policies efficiently. Strategic information resources improve the use of information resources in business, government and non-profit organisations strategies.Understanding ICT as a tool for accessing informationIn the management information system the Information and Communication Technology (ICT) tools are the most commonly apply source for accessing information. These tools endure organization to access any type of information such products, researches, new developments, quality standards, communication with employees and customers etc.Managing external, corporate and internal information in organizationThe management information system systematically and efficiently manages the external information i.e. customer needs and choices, corporate information i.e. organisation honours, brand names, advertising and market procedure, and internal information i.e. effectiveness of tasks, quick processing, interpretation and response of the organisation staff.Using information to support business processesInformation supports the following business process. foodstuff and customer informationUsing Market information organisation can learn about the competitors in the market allowing them to improve product quality, increase productivity etc. using customer information organisation will have a better understanding of customer needs and choices.Product informationUsing product information organisation can improve products quality, increase production, footing comparison and easily availability.Specialist knowledgeUsing specialist knowledge organisation can manufacture new innovative products, add new customer to business, reduced cost and expenditure.Business process informationBusiness process information supports the internal information about the performance of the organisation such Finances, Customer, internal process and learning and growth.Management information and plansManagement information and plans supports the developing policies, prox planes, and improvement of services of the organisation.Human resource informationHuman resource information is essential for organisations reputation, product support, future planes and innovations.Supplier informationThe Supplier information allows the organisations to choose from a large number of suppliers offers affordable price, best quality and quick service.LO2 Understanding the importance of information sharing within the organisationInformation sharing within the organisation making employees as team allowing them to put forward their ideas, inspiration, new creations, discuss different matter and find solution for critical issue. This improves the overall efficiency of the organisation in foothold of employees, products, policies, customers and competitors.Assessment Criteria2.1 Determine the legal responsibilities in sourcing, sharing and storing informationConfidentiality and privacySpecial care must be taken when sourcing, sharing and storing information such that this must fully residence with the Data Protection Act. Information about organisation and employee must not be disclosed with out their consent.Copyright and computer software protectionAny type of data, information and software must be used under right of first publication and software protection Act. This means that using someone work must be authorised by that person or any organisation to which it belongs.contractual obligationsIn case of conditional agreement information sourcing, sharin g and storing must not breach the conditions i.e. all these operations must be according to the terms and conditions of contract.IS and Crime (criminal not civil law)This includes frauds i.e. dishonestly use of information, infringement i.e. violation of rules and regulation, miss used of information i.e. for the purpose of making organisation or single unpopular.2.2 Discuss when information should be offered and access allowed.Information obtaining, accessing and processing must be according to the Data Protection Act, which gives the right to individuals Person, organisation etc to know what information is held about them, the purpose of information holding as well catchs them that individualized information is handled properly.Anyone who is processing someone personal information must comply with the viii principles of Data Protection Act, which are explained below.Fairly and lawful processAccording to 1st principle, Personal data must be processed fairly and lawfully. This m eans that the data subject i.e. person, organisation permitted the processing of their personal information for any legal and legitimate purposes such as employment, justice, health and safety etc. motion for limited purposeAccording to 2nd principle, Personal data must be obtained and process for a limited purpose only i.e. one or more particular and lawful purposes. If the further processing of personal information is required for other purposes than the specified then the data subject must be informed and further processing should be according to the data object consent.Adequate, relevant and not excessiveAccording to 3rd principle, Personal data must be adequate, relevant and not excessive in relation to the purpose it is obtained and processed. This must check over the data subject that the processing of personal data is relevant to the specified purpose and is not unnecessary.Accurate and up to dateAccording to 4th principle, Personal data must be accurate and up to date if n ecessary. This means that the accuracy of the data must be ensure whatever it is directly obtained from the data subject or it is through third party. It is the responsibility of the data object to inform the about any changes or inaccuracy in the data.Not kept for longer than is necessaryAccording to 5th principle, Personal data must not be kept longer than is required for the purpose or purposes after it is processed.Process in line with a persons rightAccording to sixth principle, Personal data shall be processed with the data subject rights under the Data Protection act. This means the data subject has the right to request for the correction, pulley block and deleting of their personal data after processing.SecureAccording to 7th principle, the security of personal data must be ensures. This means that in case of self-appointed or unlawful processing, accidental loss and destruction to the personal data appropriate technical and organisational measures should be taken to preve nt such incidents.Data conveyancingAccording to 8th principle, Personal data must not be transferred outside the European Economic Area i.e. to outside countries. If the outside countries can ensures that personal data will have adequate level of protection and will be processed with the consent of data object and for the specified purpose, then in such situation data can be transferred.2.3 Evaluate the formats in which information can be offered.Electronic/ manualIn Electronic format information are provided through electronic means computer generated such as E-mail, Ms Word file, Excel sheet, Data Bases etc. while manual information are almost are provided on papers i.e. printed or handwritten such as log books, manual order book, letters, books, reports etc. distinguishs of IndividualsList of individual could be computer generated or manual, which contains details about organization employees, tutorial stop and other staff responsible for different task. Usually this contains n ames, designation, skin senses etc.LibrariesLibraries are well organized and well-structured data storage system used in computer to holds data files, folders, records, pictures, and videos in a proper order etc. now days there are many electronic libraries holding e-book, e-journal etc. not only electronic libraries are used withal most organization using large number of manual libraries contains books, journal, research papers, reports etc.FoldersFolder is container used by computer system for organizing folders, programs and files on a disk in graphical user interfaces broadly speaking represented with a graphical image (icon) of file folder on the screen. Manual folders normally used for holding papers i.e. invoices, report, expenses etc.DocumentsComputer generated document is any self-contained piece of work created with help of any application program is saved with a unique file name. This unique name is used to retrieve that document. While manual documents are hard copies or handwritten records, personal detail, manual etc.List items inside the listsThis is heretical or tree structure, similar items are list under single category the inside list are known as sub categories of the main category. This keeps items in an organized structure and it is easy to find and locate a specific item.List items present in the librariesIn the libraries all items are divided in categories, each category contains a list of interrelated items as well sub items, this categorization helps in inquisitory and locating items within the vast amount of the available items.LO3 Use information to inform and support strategic decision-makingAssessment Criteria3.1 Analyze information to identify patterns and trendsWith the help of information system organisations can identify and predict the patterns and trends in all aspect of the business such as market, competition, customer demands etc and based on the information analysis they can make good strategic decisions.The marketTh e Information system analyses the data collected from the market and based on the analysis the organisation can decide about the product quality improvement, increase productivity, adjust product price and can decide about the launching of new products and organisation future planes.The competitionBased on the Information system analysis of the market data organisation can decide about the product price reduction, improves quality, improve advertising campaign, more facilities to customer and shareholder, easily availability etc as competition with other organisation.The state of economyBased on the Information system analysis organisation can manufacture economical product with low cost and can utilise available resources efficiently i.e. reduction in manufacturing time, proper use of material, required amount of product, reduction in manufacturing defects etc.Legislative developmentInformation system improves the legislative system of the organisation. They are fully compliance wi th the data protection act, international laws and standards, legal rights. Based on the information analysis the organisations can take legal steps to attract Customers, compete with their competitors, can utilise information resources, shares informations, utilise ironware and software etc.Customer demandsBased on the Information system analyses of the collected data from the market organization can predict the customer demands such as what customer wants, is their need of improvement in products, is there a possibility to launch new product, are products easily available to customer, is there a need of change in the policy and legislation, are customers able to commits complains and advices etc, are they happy with prices etc.Evaluate a range of decision making tools and techniques available to support a strategic decisionSWOTSWOT (Strength weaknesses opportunities and Threats) analysis tools provide an organization a geomorphological analysis of its Strengths, Weaknesses, the opportunities and threats they are facing. The SWOT analysis is based on the discussions and people viewpoints and it is not the end but step before any action planning take place. The organization use the analysis result to appreciate its strength (personal, competition, knowledge, production etc) for taking decision to minimize its weaknesses (improve developments, competition, product quality, customer communication etc), implement most of the opportunities (possibilities, value in next five years, product demands etc) available and treating possible present and future threats (limitations, losing product values, equipment and software fault etc) in a planned and well organized way.Critical success factor (CSF)Critical success factor is an approach takes by the organisation to determine organisational need for information. There are a numbers of key factors required for any organisation to be successful, these factors are known as critical success factors. If organisation is un able to achieve these critical success factors, then this will have a high impact on the organisation and as a result there is possibility of organisation reverse.The draw below describes how CSF helping organisation in the determination for need in key decision (KD) and information Required (IR)CSFKDKDKDIRIRIRIRIRIRWhere CSF represents Critical success factor, KDs represents key decision and IR represents information required to support key decisions. lesson Driven DSSModel-driven is a complex Decision Support System (DSS) system helping in analyzing decisions or choosing different options between the available. This type of system is used by the organization / Business managers and staff members, or by other peoples usually interact with the organization. The use of the system is for a number of purposes, which is depending on the setup of the model such as scheduling, decision analyses etc. there are a number of ways for the deployment of Model Driven DSS system such as in sta nd alone PCs through hardware and software in, through client / server systems, or through the web.Data Driven DSSThe organization manager mostly uses the Data Driven Decision Support System (DSS) system as well staff and the product/service suppliers used it. The use of the system is for a specific need by sending query to a database or data warehouse, which then returns the requested specific information. This type of system is mostly deployed through a mainframe system, client/server system and trough the web. Computer-based databases are the example such system, having the capability to response to query and valuable results value from existing databases.Data MiningData Mining is the data analyzing process from different perspectives and after processing generation of useful information summary. This summary information are utilized by the organizations to increase revenue, cuts costs etc. Data mining software is one of the analytical tools available to analyze data. This tool allows users to do analysis of the data from different angles, categorize data, and finally identification of the relationships in a summarized data.Determine the source available to assist in analyzing data informationInformation resources such as Data, Information and knowledgeIn business environment information resources are the most valuable assets for any organisation. The information i.e. data, information or knowledge must be collected carefully and with authenticity because the organisation decision-making processes are based on these information. These sources of these information resources could be organisation employees, customer and other organisations but there must be some criteria for using these resources such as accuracy, validity, clarity etc.Technology resources such as hardware and softwareFor the processing of organisation data and information such as products detail, employees details, manufacturing, stock and accounts information appropriate technology resourc es such hardware i.e. computer systems, printers etc and software database system, data analysis tools etc must be available to managers and staffs of the organisation. Using such resources reduces production time, cost, improves communication within the organisation and with the customers.People resources such as employee and managers in organizationsOrganisation employees and managers are the vital part in analysing data because they provides the organisation internal data such as manufactured quantity, cost, stock etc and as well they are operating the available equipments, computer systems and software. In organisation mostly there are people specially trained for operating specialised hardware and software for information processing, analysing, report generation.LO4 Monitor and review management informationAssessment Criteria4.1 Identify methods of evaluating management information within an organizationFor high level of management information organisations utilise different in formation evaluation methods to ensure a reliable, trusted and quality of information management system.Data governanceData governance (DG) is the overall management of the data employed in the enterprise. The Data governance ensures the availability, usability, integrity, and security of the employed data. A governing body or council runs a well-organized data governance program with a well-defined set of procedures and plans for the execution of defined procedures in the right direction. The followings are the three key elements of the successful data governance in an organization.The ability to use timely, reliable, trusted information to drive the businessThe data governance program must be able to ensure the information availability within the prescribed time frame to the recipients that it can be processed at in early stage. This information must be reliable i.e. consistent that execution of different processes can be performed in proper order and in the right direction. As we ll the information must be trusted i.e. accurate, update and must be gathered from the trusted source otherwise it will lead to program failure.Improving the quality of business decision- makingThe data governance programme must be able to utilise certain standard decision support systems for the achievement of high quality of business decision-making such as Model Driven DSS, Data Driven DSS etc. The available data for decision-making must be according to certain quality standard, appropriate format, well structured and well organised.Ensuring consistent use of informationThe data governance program must ensure the consistent use of information in organisation for reliability and smooth flow of business different process. The information flow must be regular to different component of the overall system that the system can generate reliable, trusted and high quality of result otherwise inconsistency will generate incorrect result and will lead to system failure.Management informatio n valueTimelinessTimeliness is a high importance in management information, which means that the recipients must cod information within the prescribed time frame. The timeliness can ensure an early stage information execution, which generates the accurate information result. The characteristic of timeliness of information must be effective as well must includes the current up to date information.ContentManagement information system provides valuable contents for organisation internal and external process support. These contents support business different process such as contents for decision making process, for manufacturing process, for marketing process, financial process, customer and services support etc.FormatManagement information system provides information in an appropriate and clear format, which is easily understandable. The provided information clearly describe the need, the purpose and place where it can be used such as market related information clearly describes the value of the organisation and its product that can be used to improve quality and services.CostManagement information systems help organizations in cost reduction in the overall business i.e. internally and externally. It allows organizations to deliver their products and services to customers at lower price than their competitors. Therefore, due to information system organizations can survive in difficult situations and can grow rapidly.4.2 Discuss process for analyzing impact of information on strategic decision madeSet objective of process or organizationThe information analysis allows the decision-maker in the organization to develop and set objectives and allocates resources required for the achievement of these objectives. Thus the organization top-level management is benefiting from information analysis in making strategic planning.Evaluate weather goals achievedThe information system allows the organisation to evaluate weather the desired goals are achieved from the informat ion analysis or not. In case of failure the process is refined with utilising more resources, expertise, care and thoroughly investigation to make sure a quality of result achieves. Gap analysis is used for the evaluation of weather goals achieved or not.Assess reasons for variance from target to actualThe performance diagnosis is done by applying knowledge to performance to check weather the processes, operations and functions are generating the quality results or not. Each process is judged thoroughly weather the overall process is running smoothly and will complete successfully.Revise and implement new approaches or modify goalsIf there is any mistake in the process it is revised and retest. Some times the achievement of the desired resulted new approaches is employ and some time the difficulties in achieving result can lead to modification in goals.4.3 Determine methods of developing information capture to inform and support strategic decision-makingDIKAR Data Information Knowl edge Action dissolventThe DIKAR model is used for information quality, which is very helpful in understanding the attributes of management information quality. The diagram below is the description of the overall model.Source Dr.L.Ali, 7004_Strategic Information Management, 2009, Lecture Notes, Cromwell college of IT ManagementAs shown in the diagram the DIKAR model is based on the attributes of the Data, Information, Knowledge, Action and results. These attributes ensure the quality of the each component of the DIKAR model as from the start to the end quality is maintained in all processes. The table below explains the attributes of each component.Data QualityThe provided data must be accurate i.e. up to date, the whole data to complete that task i.e. completeness, collected from authentic and trusted source i.e. validity and regularly available for smooth flow i.e. consistency.Information QualityInformation must be generated from a quality data, all definition must clearly descri be the purpose, only relevant information should be used related to a task, the presentation of information should be in the proper order and right format, information must be provided to the recipient in the prescribed time frame and finally availability of information must be ensure to the end user related to that task.Knowledge QualityFor knowledge quality the information quality must be maintained as described in the preceding(prenominal) section, ASHEN factors (is explained in the next section) must be taken into account, the end user must be experienced in using such knowledge i.e. prior experience, knowledge must be clear and easily understandable i.e. explicit knowledge and finally must be understood clearly by the end user i.e. tacit knowledge.Action QualityAn appropriate action must be taken for the solution of the task, this action must be with in the prescribed time frame and must generate results with clarity that ends user can utilise results in the right place and in the right direction.Result QualityThe generated output must clearly state the achieved objectives and consistency of results. The achieved result must be the right and desired and efficient for the task.ASHEN Artefacts Skills Heuristics Experience intrinsic talentThe ASHEN factors is used for the assessment of knowledge quality at the points des