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Strategic Information Management PDF

   

Added on  2020-11-12

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StrategicInformationManagement
Strategic Information Management PDF_1
Table of ContentsTask 1:......................................................................................................................................................4Data.....................................................................................................................................................4Qualitative Data..............................................................................................................................4Quantitative Data............................................................................................................................4Information..........................................................................................................................................4Determine the criteria to be applied when selecting data and information to support decision making. Consider the validity of sources of information...........................................................................................5Describe the main functions of an organisation’s.........................................................................................5Evaluate the impact of a management information system to an organisation in terms of efficacy............7Part 1 A conceptual hierarchy of system objectives.......................................................................7Part 2 MIS evaluation approaches..................................................................................................7Confidentiality................................................................................................................................8Integrity..........................................................................................................................................8Availability.....................................................................................................................................8Authenticity....................................................................................................................................8Non-repudiation..............................................................................................................................9Discuss when information should be offered, and access allowed.............................................................10Fairly and lawfully process:...................................................................................................................10Limited purpose.....................................................................................................................................10Adequate and relevant............................................................................................................................10Accurate and update...............................................................................................................................10Not stored for longer than required........................................................................................................10Process with the individual rights..........................................................................................................10Secure.....................................................................................................................................................10Data transfer...........................................................................................................................................10Electronic / manual:......................................................................................................................11Lists of Individuals:......................................................................................................................11Libraries:.......................................................................................................................................11Documents:...................................................................................................................................11Evaluate the formats in which information can be offered.........................................................................12Audio............................................................................................................................................12Video............................................................................................................................................12Computer / Internet.......................................................................................................................12Documents: ..................................................................................................................................12Analyse information to identify patterns and trends...................................................................14Sale Analysis:...............................................................................................................................14.........................................................................................................................................................14Products Trend:............................................................................................................................15Determine the sources available to assist in analysing data and information..............................16Customer Demands:.....................................................................................................................16Market:.........................................................................................................................................17Competition:.................................................................................................................................17Task 4:....................................................................................................................................................18Strength weaknesses opportunities and Threats (SWOT):...........................................................18Critical success factor:..................................................................................................................18Decision Support System:............................................................................................................18Data Driven Decision Support System:........................................................................................20Data Mining:.................................................................................................................................20
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Task 5:....................................................................................................................................................24Management information system, refers to a computer-based system that provides managers with the support in planning, evaluate and efficiently manage organisation plans providing past, present and forecasting information. This includes method of collecting data: Questionnaires, Interviews, Observations and Surveys.........................................................................................24Interviews:....................................................................................................................................25Observations:................................................................................................................................25Surveys:........................................................................................................................................26Decision Support Systems:...........................................................................................................27Decision Approach:......................................................................................................................28
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Task1:1IntroductionManagementinformationsystemshelporganisationtomakesupportedandvaliddecisionsbyprovidingaccurateandup-to-dateinformationandanalyticperformancefunctions.Theselectedmanagementinformationsystemshouldbecompatiblewiththeformatsofinformationavailablewithintheorganisationandtherequiredfeaturesneededbytheorganisation.Organisation’smanagementinformationsystemperformanceismeasuredbasedondataavailable,selectioncriteria,definedfunctions,analysedpatternsandtrends,decisionmakingtoolsandmethodofdevelopingandcapturinginformationtosupportthedecision-makingprocesswithintheorganisation.DataDatadefinesfactscollectionofevents.Thiscollectionoffactsisinrawformmeansthatanunorganisedandunprocessedform,whichcannotbeusedinmeaningfulpurpose.Datacanhavebedefinedintwoforms:qualitativeorquantitative.QualitativeDataInthisformDatacanbe:characters,graphs,picturesetc.Thisisdeterminedthequalitativefromtheinformation’ssource.Itisdescriptiveandnotconcrete.Qualitativedata classifiestheinformationaccordingtoitsspecifications.Itisalsousedtodifferentiatetheitemsfromtheirquantitativesource.QuantitativeDataAlsoreferredasnumericaldata.Thisthedatadeterminesthequantityfromthesource,ofteninformsofnumbersandvalues.Thisformofdataisusedtodifferentiatethedataonthevalueorthequantityoftheitems,alsousedforthemeasurementoftheexactandapproximatevalues.InformationInformationisdefinedasaconcise,well-organised,well-processedandmeaningfulformofdatageneratedfromrawdata.Thismeaningfuldataisutilisedfordecisionmaking.Example:EmployeesRecords,SaleReportetc
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Determinethecriteriatobeappliedwhenselectingdataandinformationtosupportdecisionmaking.ConsiderthevalidityofsourcesofinformationDataandinformationshouldalwaysbesuitableandsufficienttosupportanytypeofdecisionmaking.Decisionmakingrequireslessamountofdataandinformationwhereascomplexanddifficultdecisionmakingrequiresmoreamountofdataandinformation.Thereareseveralcriteriausedtodeterminetheimportanceofdataandinformationfororganisationstomakedecision:•Thenatureofdataandinformation:shouldberelevanttothedecisionthatisgoingtobemade.Itshouldnotbeirrelevantdataandinformationthatisfarfromthemainidea.Thedatashouldberelatedtothecontextofthedecisionasthebasisrequiredforthedecision-makingprocess.•Multi-dimensionalDataandInformation:thisoffersdifferentanglestosupportthedecision-makingprocess.Thesecriteriaavoiddataandinformationtobebiasedtoapointitshouldbearesultofthedecision.•CompletionofDataand Information:Data and Information shouldbesufficientenoughsothatthemanagershaveDataandinformationthatwouldberequiredtomakethedecision.Fromthispointdatashouldcollecttherequiredamountofinformationwiththerequiredquantitativevalues.•SourcesofData andInformation: DataandInformationcollectedfrommultiplesourcesshouldbecomparedandthebestreliableresultshouldbeconcisetosuitthedecision.This could reveal essentialinformationthat could be used forthe decision-makingprocess.Describe the main functions of an organisation’sManagementInformationSystemManagementInformationSystem,iscomposedofinformationresources:Data,documents,software,hardware.MISisdesignedtobea"plannedsystemofcollecting,storing,anddisseminatingdataintheformofinformationneededtoenablethefunctionsofmanagement(decisionmakers)withthetoolsneededtomakethebestdecisionspossible.ThefunctionsperformedbyMISinorganisationarelistedinthebelowtable:FunctionsSummary of functions
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Identification and DiagnosisAssistancein operationaland strategicplanning and implementationProblemsolvingResourceallocation,Decision supportSatisfyinginformationReporting,visualization ofdata obtained fromvarioussourcesEditingEditingEditing
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