Informatics and Financial Applications Report for ACC508 Course

This report examines the crucial role of informatics and financial applications in modern business operations. It provides an overview of how information systems, decision-making systems, and cloud computing contribute to organizational success. The report delves into the significance of e-business, emphasizing its reliance on information technology and the importance of adopting emerging technologies to enhance performance and revenue. Furthermore, it explores the relationship between databases and e-business, highlighting the advantages of information technology in various business functions. The report discusses the stages of e-business, the application of business intelligence, and the impact of databases on business processes, decision-making, and customer relationship management. The conclusion emphasizes the benefits of e-business, including its role in profit, growth, and maintaining a strong company reputation, while also acknowledging challenges such as cyber threats and the necessity of a robust IT infrastructure, including cloud computing. The report is a comprehensive analysis of informatics and its applications in the financial domain.

Running Head: Informatics and Financial Applications 0
Informatics and Financial Applications
Report
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Executive Summary
Information System (IS) is an important information asset of an organization, which is used for the
management of various functions of the organization. It has provided various services to improve the
profit and revenue of the company.
This report will introduce the role of information systems, decision-making systems, and cloud
computing in business. In addition, E-business is totally depended on the Information Technology (IT).
Therefore, the company should adopt emerging technologies in their business to improve its
performance as well as the revenue of the company.
This report will discuss e-business and database role in e-business. It will also explain the advantages of
information technology in business.
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Table of Contents
Executive Summary.....................................................................................................................................1
Introduction.................................................................................................................................................2
E-business....................................................................................................................................................2
Databases and Business..............................................................................................................................2
Conclusion...................................................................................................................................................2
References...................................................................................................................................................3
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Introduction
E-business is highly popular in the present era, as most of the consumers are using online shopping and
they want various services to reduce their cost and time. In addition, online services in business are
helpful for the company as well as consumers. In addition, e-business is based on information assets
(Adams, 2017).
There are some basic stages of e-business, which are starting with a web presence. It is a way to shoe
information about products, services, and other information on the website for the customers. It is the
best way to provide knowledge and information about the company to the clients. In addition, Business
Intelligence (BI) is highly used in most of the organization for their data analytics (Isik, et al., 2013).
There are various advantages of e-business, which can make huge changes in the industries. There is a
good impact of technologies in the mind of their consumers.
This report will analyze the role of information systems in business and their advantages. It will describe
the database and business relationship using proper evidence. In this report, B2B architecture will
describe in the context of online services of various businesses.
E-business
E-business is a term, in which many other terms are included, such as e-commerce, and many others. E-
business is a combination of various services of information systems and other information assets for
the business of the company. In the case of collaboration, technologies provide huge help to the
organization.
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In addition, Information systems provide various help into the management of various functions of an
organization. Besides, it is necessary to identify the basic advantages of the information system. In
business, most of the processes had handled by the information system in present era (Wu, et al., 2015).
There are having lot of responsibility, such as finance, accounts, marketing, and many more. Moreover,
e-business has based on all the parts of an organization, which are shown in above diagrams, such as
ERP, SCM, CRM, E-commerce, and many others (Alter, 2001).
E-commerce is a part of e-business and it is the main reason to choose e-business by many companies.
In addition, e-business is including many things of an organization to perform various actions, such as
decision-making, problem-solving, and many more. Business Intelligence is the best way for the
company to manage its decision based on data and information (Vercellis, 2011).
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In addition, an organization must use technologies for managing their various functions in a proper
manner. There are many other advantages of e-business, which make necessary to increase the
popularity of e-business in various industries. IT has provided many changes in the business functions
and it provides better advantages to the company (Salesforce, 2018). Thus, E-business is an integration
of many online services that provides help into the management of various business functions of an
organization.
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There are few common systems are included in the e-business, which are information systems, decision-
making systems, and many others. Thus, the business has new face in front of traditional approaches.
Customers and suppliers have believed in online processing (Ryssel, et al., 2004).
E-Business provides various solutions to the industry as well as a particular organization in terms of
success and growth. It provides better profit and growth in the market because there are variously
internal and external advantages of e-business to the organization. In addition, business can use
technologies for betterment of the organization. In present era, e-business is a new trend in the industry
and it is beneficial for the organization because of business intelligence technology (Obeidat, et al.,
2015).
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Databases and Business
E-business has based on the databases of the organization. As most of the organizations have their data
at various places, which are flat files, online transaction, databases, and other sources. Business needs a
large amount of data for analyzing effects of their decision in past. Therefore, organization can use the
databases for different purposes, such as procurement, manufacturing, inventory, business intelligence,
sales and order management, financial management, asset management, reporting, customer’s
relationship management, customer service, and many more. In addition, e-business is the best way for
internal and external communication between all the actors of the business and their functions (IONOS,
2019).
All things are important for the company. There are many advantages of databases for the organization
in terms of their performance improvement and other things. In addition, various solutions can be find-
using databases of the company. There are some important things, which matter a lot for the company,
such as employee management, decision-making, and CRM. In addition, information systems have
required a high level of security, as data and information are highly important for the company (Gupta &
Hammond, 2005).
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The database is a base of all the business processes of an organization. In addition, workflows have
based on the different scenarios and use cases of the company. In addition, data modeling, security
schema modeling, and data flow modeling have based on the use cases of the business environment. In
addition, a website is necessary for all levels of businesses (Faber, 2018).
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Data visualization is part of the presentation layer in which all the user interfaces have designed for
better communication. It is beneficial for attracting consumers. The next layer is business layer in which
business logic has executed. Besides, object relation mapping and interoperability have present on the
persistence layer. Thus, various technologies have used for the proper use of all those databases to
create better information for the decision-making process. In addition, Artificial Intelligence has used for
the better security of the databases and data (Castelluccio, 2017).
Moreover, an organization can implement business intelligence for the data analytics and decision-
making process, which is better with databases and other tools and techniques of data analytics. In
addition, it provides real-time analytics that is the better way for analysis and decision-making (Zeng, et
al., 2012).
Furthermore, BI is a highly required thing for e-business as well as ERP for the whole organization. It can
provide better results as compared to old approaches of business. ERP is the best way of managing data
and other information about the company’s customers and employees (skywardtechno.com, 2018). E-
business can manage all the processes in better way and it is the requirement of present era to provide
various services on door to reduce cost of traveling and other things.
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Conclusion
It has concluded based on the above section of this report that E-business is highly popular in most of
the industry because of its valuable benefits and techniques. E-business is beneficial in terms of profit
and growth of the company. There are many other advantages of e-business in terms of proper
management of various functions. In addition, there are many other advantages of business using the
Internet and other resources. There are many good benefits of the e-business and it is necessary for
most of the businesses.
In addition, there are some issues with e-business, which cannot be ignored by an organization, such as
cyber-attacks, cybercrime, and many others. Moreover, the main advantage of e-business is required an
IT infrastructure for managing all the things properly. It will not easy but using cloud computing, it is
easier than earlier time. This report has described the database role in the growth of business and its
functions.
This report has explained about the e-business parts and its advantages for the company as well as for
consumers. It has described the database and business relationship. It has provided the role of
information systems, decision-making systems, and cloud computing in the business.
Finally, it has concluded that e-business is necessary to get high growth and profit in the future. In
addition, it will also good for the reputation of the company as well.
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References
Adams, C., 2017. Describe Artificial Intelligence and how it might impact the Business Analysis
profession?. [Online]
Available at: https://www.modernanalyst.com/Careers/InterviewQuestions/tabid/128/ID/3834/
Describe-Artificial-Intelligence-and-how-it-might-impact-the-Business-Analysis-profession.aspx
Alter, S., 2001. Information systems: Foundation of e-business. 4 ed. New Jersey: Prentice Hall PTR.
Castelluccio, M., 2017. Artificial intelligence in business. Strategic Finance, 98(10), p. 55.
Faber, . J., 2018. Why no business is too small to have a website. [Online]
Available at: https://cira.ca/blog/ca-domains/why-no-business-too-small-have-website
Gupta, . A. & Hammond, R., 2005. Information systems security issues and decisions for small
businesses: An empirical examination. Information management & computer security, 13(4), pp. 297-
310.
IONOS, 2019. E-business is short for “electronic business.” As an overarching term, it refers to any
method of utilizing digital information and communication technologies to support or streamline
business processes – from preparation to implementation. However, it ca. [Online]
Available at: https://www.ionos.com/digitalguide/online-marketing/online-sales/what-is-e-business/
Isik, O., Jones, M. C. & Sidorova, A., 2013. Business intelligence success: The roles of BI capabilities and
decision environments. Information & Management, 50(1), pp. 13-23.
Obeidat, M., North, M., Richardson, R. & Rattanak, I., 2015. Business intelligence technology,
applications, and trends. International Management Review, 11(2), pp. 47-56.
Ryssel, R., Ritter, T. & Gemünden, H. G., 2004. The impact of information technology deployment on
trust, commitment and value creation in business relationships.. Journal of business & industrial
marketing, 19(3), pp. 197-207.
Salesforce, 2018. The New Information Technology: The Changing Role of IT in Business. [Online]
Available at: https://www.salesforce.com/research/changing-role-of-business-it/
[Accessed 14 September 2018].
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skywardtechno.com, 2018. Why a Business Needs an ERP system? Here are top 5 Reasons. [Online]
Available at: http://www.skywardtechno.com/blog/why-business-need-erp-system/
[Accessed 31 May 2019].
Vercellis, C., 2011. Business intelligence: data mining and optimization for decision making. New Jersy:
John Wiley & Sons.
Wu, S. P. J., Straub, D. W. & Liang, T. P., 2015. How information technology governance mechanisms and
strategic alignment influence organizational performance: Insights from a matched survey of business
and IT managers. Mis Quarterly, 39(2), pp. 497-518.
Zeng, L., Li, L. & Duan, L., 2012. Business intelligence in enterprise computing environment. Information
Technology and Management, 13(4), pp. 297-310.
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