Unit 5: Using Technology to Manage
Information.
**LO 15-1: Changing Role of Business Technology**
Business technology has undergone significant changes, transforming from a
supporting function to a strategic driver. In the past, technology primarily played a
supportive role, automating routine tasks. However, in the modern era, technology is
a critical enabler of innovation, efficiency, and competitive advantage. It facilitates
data-driven decision-making, enhances communication and collaboration, and
supports business processes.
**LO 15-2: Types of Business Information, Characteristics, and
Data Storage/Analysis**
- *Types of Business Information*: Business information can be categorized into
operational, tactical, and strategic. Operational information deals with day-to-day
activities, tactical information supports short-term decision-making, and strategic
information is crucial for long-term planning.
- *Characteristics of Useful Information*: Useful information is accurate, timely,
relevant, complete, and understandable. It should also be reliable and easily
accessible.
- *Data Storage and Analysis*: Data is stored in databases and analysed using
various techniques such as data mining, business intelligence, and analytics tools.
**LO 15-3: Internet, Intranets, Extranets, Broadband, Web 2.0,
and Web 3.0**
- *Scope of Internet, Intranets, Extranets, and Virtual Private Networks (VPNs)*: The
Internet is a global network, intranets are internal networks within organizations,
extranets extend networks to external partners, and VPNs secure communication
over public networks.
- *Broadband Technology and Web Evolution*: Broadband technology has enabled
higher-speed internet access, leading to the evolution of Web 2.0 (interactive and
collaborative web) and Web 3.0 (semantic and intelligent web).
**LO 15-4: Virtual Networking and Cloud Computing**
- *Virtual Networking*: Virtual networking involves the use of virtualized components
for network functions. It provides flexibility but may face challenges in terms of
security and management.
- *Cloud Computing*: Cloud computing offers on-demand access to computing
resources. It provides scalability and cost-effectiveness but raises concerns about
data security and privacy.
**LO 15-5: HR, Security, Privacy, and Stability Issues in IT**
- *HR Issues*: IT impacts job roles and skills, requiring continuous training and
adaptation.
- *Security and Privacy Issues*: Data breaches, cyber threats, and privacy concerns
are challenges in the digital era.
- *Stability Issues*: Dependence on technology can lead to disruptions, requiring
robust stability measures.
**LO 15-6: Data vs. Information, Attributes of Useful
Information**
- *Data vs. Information*: Data is raw facts, while information is processed and
meaningful data.
- *Attributes of Useful Information*: Accuracy, timeliness, relevance, completeness,
reliability, and understandability.
**LO 15-7: Reasons Managers Need Access to Information**
- *Informed Decision-Making*: Managers need information for effective decisionmaking.
- *Strategic Planning*: Information supports long-term strategic planning.
- *Performance Evaluation*: Managers use information to assess organizational
performance.
**LO 15-8: IT Revolution and Managerial Behaviour**
- *Computer Hardware and Software Innovations*: Innovations like personal
computers, the internet, and software applications revolutionized how managers
gather, process, and use information.
**LO 15-9: Performance-Enhancing MIS**
- *Types*: Transaction processing systems, decision support systems, executive
information systems, expert systems, office automation systems, and knowledge
management systems.
**LO 15-10: IT in Building Strategic Alliances and Networks**
- *Strategic Alliances*: IT facilitates collaboration and partnership building.
- *Network Structures*: IT enables the creation of efficient and effective network
structures.
In summary, the evolving role of business technology has impacted information
types, data storage, and analysis, network structures, and managerial behavior,
influencing strategic decision-making and organizational efficiency.