Information System Strategy in National Australia Bank

Running head: INFORMATION SYSTEM STRATEGY IN NATIONAL AUSTRALIA
BANK
Information System Strategy in National Australia Bank
Name of the Student
Name of the University
Authors note

INFORMATION SYSTEM STRATEGY IN NATIONAL AUSTRALIA BANK
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Table of Contents
Introduction................................................................................................................................2
Discussion..................................................................................................................................3
Evolution of Information System strategy.............................................................................3
Major challenges facing business...........................................................................................4
Recent scenario of Information System for organization......................................................5
Role of Information System in contemporary environment..................................................6
Management Information System for control and management............................................7
Conclusion................................................................................................................................10
References................................................................................................................................11

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Introduction
The purpose of this report is to describe the evolution of Information System strategy
and its role in the contemporary environment. The paper succinctly gives the advantages of
IS within the organization. The need of implementation of such technologies is discussed.
The selected Australian Company is The National Australia Bank Limited (NAB) which uses
Chatbots as an IS strategy. The National Australia Bank Limited (NAB) is placed at 21st
position in the list of world’s largest bank in the marketplace. Situated in Melbourne, it serves
key areas including Australia, New Zealand and Asia. It was established in 1982. It is a
public company which provides numerous services to the Australian public (Nardella 2018).
It includes range of customized services such as business banking, wholesale banking,
financial services and personal banking. The business banking gives commercial banking
options to business managers and customers and the personal banking provides retail services
to small business and customers. The bank promises to offer the right thing to the people and
community which will motivate the customers to trust and respect them. The other segments
of NAB includes consumer banking, wealth management and Institutional banking. The
majority of profits that the company generates comes from the commercial and national
banks in Australia. Recently the company has experienced total sum if revenue of
$34,139,000,000 (Ask et al. 2016). It consist of more than 33283 employees. There are total
1590 branches as well as service centers and 4412 ATMs that is operated which aims to serve
more than 12.7 million people of Australia, Asia and New Zealand.
Chatbots is a program designed to stimulate interactive conversation with human
either through text or voice control program. It is an automated software that performs
effective interactions over live chats to resolve any human query (Hansson 2018). Any
human being cannot be available 24/7, therefore Chatbots fulfills this gap by providing day to

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night functionality. This technology is derived from the concept of Artificial Intelligence that
gives better result than human in terms of better accuracy and greater speed. Chatbots has the
potential to replace humans and perform all their tasks within an organization (Park, Aiken
and Salvador 2018). Chatbots can also be considered as virtual assistance which aims to
reduce the payment cost that has to be given to human staff. It also saves times by providing
quick responses and helps improvising excellent customer service when the human staffs are
unavailable. Chatbots can be used in varied situations such as automatic message generations,
marketing applications, tele marketing, customer service and intelligent assistant such as
Alexa in Amazon and Siri in Apple. Chatbots is a onetime investment software that
eliminates the use of paying the assigned agent by the organization. Hence, it is a cost
effective technique. It uses machine learning and artificial intelligence technique with
specialized programming code (Galitsky and Goldberg 2019). Chatbots are programmed
robots that respond and behaves exactly like humans. This Information System strategy
definitely benefits any business enterprise whether small or large. It helps the business to
minimize the overhead and enhance customer engagement. There are three important
categories of Chatbots. Support Chatbots, Skill Chatbots and Assistant Chatbots.
Discussion
Evolution of Information System strategy
Information System has been a vital component of an organization. For the past
twenty years it has been evolved with the development of information technology. The
organization and information technology is interconnected with each other in an integrated
manner. The impact of computers in organization has proved to be positively impact the
while organization. The first business IS was launched in 1950 which performed highly
complex and repetitive task (Michiels 2017). The system was named Transaction Processing