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Role and Importance of Information Technology

   

Added on  2021-02-20

11 Pages4302 Words114 Views
Individual Report

ABSTRACT The following report includes discussion on role and importance of information technology incompanies. This includes service sector industry and need of information technology in theseorganisations. As there is high demand of digital media and advertising in companies so it isnecessary to know what are the various benefits of using techniques and tools of IT. There isliterature review which tells information related to IT. Analysis and discussion is there whichconsists of role and importance of IT in service sector. At last recommendations and conclusionsare made on the basis of discussion.

Table of ContentsINTRODUCTION ..........................................................................................................................3Role of IT in the success of the organisation .............................................................................3Ethical and social issues that pertain to running the organisation .............................................4Identify and differentiate between different types of networking technologies .........................5Discuss the importance of intranet and internet in the business ................................................7List and explain the different stages of system development life cycle .....................................8CONCLUSION ...............................................................................................................................9REFERENCES .............................................................................................................................10

INTRODUCTION IT is the application of computers and internet for storing, retrieving, transmitting andmanipulating data or information. Every organisation whether it is a small firm or hugemultinational corporation, all need and use IT in their business for increasing success andgrowth. It professionals are an important part of any firm and business cannot functioneffectively without them (Alam, Ferreira and Fonseca, 2016). The service sector industry chosenin this report is Bank of Scotland. This is a commercial and clearing bank. The headquarters ofthis bank are located in Edinburgh, Scotland. This is the fifth bank that survived in UK. Thefollowing file contains discussion on role of IT in organisation's success. This file also includesEthical and social issues that pertain to running the organisation and different types ofnetworking technologies. There is also discussion on importance of intranet and internet in thebusiness different stages of system development life cycle LITERATURE REVIEW Role of IT in the success of the organisation Innovation is an essential factor in growth and development of an organisation.Innovation is the way of doing things differently in a smarter manner. From the viewpoint ofAlalwan, And Et. AL. , (2015), The greatest changes of Information technology are digitalmarketing, online shopping, cloud computing and digital communication. The success of anorganisation is based on different factors like choosing the right technology and an accurateanalysis. Investing in innovation and technology helps banks in increasing their market share,overall competitiveness and financial figures. Decision making – Accuracy and speed are two important factors that help in makingright decisions. Each and every organisation has to go under comprehensive market researchprocess as this enables management to take correct decisions. A good market research can bedone in various ways such as forums, online surveys, blogs, group discussions by using worldwide web. The Bank of Scotland is using big data, CRM Dynamics and Google analytics forextracting useful information and data and this impacts decision making. Such tools help inproviding real time responses from customers and ensures the accuracy of data by declining riskof human errors.

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