Impact of IT on Business: Data, Office, and Tech Advancements

This report explores the significant impact of Information Technology (IT) on modern business operations. It begins by showcasing effective methods for presenting business data, including various data views and charts, illustrated with examples from a hypothetical company's sales data. The report then delves into the benefits of Microsoft Office suite, detailing the functionalities of Word, Excel, and PowerPoint and their applications in enhancing productivity, decision-making, and report generation. Furthermore, the report examines recent technological advancements, such as data analytics, digital marketing, robotics, and the Internet of Things (IoT), discussing their advantages and limitations within the retail industry. The conclusion summarizes the key findings, emphasizing the transformative effect of IT on business efficiency and the challenges associated with its implementation, such as security concerns and the high costs of adoption.

IT

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY..................................................................................................................................1
Presentation and explanation of business data.............................................................................1
Benefits of Microsoft office to business productivity.................................................................3
Technological advancement for business....................................................................................4
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
The use of information technology in business is beneficial to a great extent. It has lead to
innovations in business models. There are various software and applications installed and used
by business. It is modified the way of performing business operations (Yeh, Lee and Pai, 2015).
Furthermore, data is stored and processed quickly. Now, different management systems are used
like TPS, MIS, etc. IT has enabled in completing complex task in easier way. The use of
software and application has integrated overall business operations. So, it is increasing
productivity by performing task in effective way.
This report will show screen shot of presentation of business data. Also, it will describe the
benefits of using Microsoft office and how it can be useful in improving business productivity. In
this features of different software are shown. Moreover, 2 hardware and 2 software technological
advancement and their limitation within retail industry are discussed.
MAIN BODY
Presentation and explanation of business data
It is necessary to present data in appropriate way so that effective decision can be taken.
Also, it gives an entire view business data.
Data view – it shows the data in excel in simple data view which include only figures and
numbers.
1

Formula view – in this view formulas that is applied can be observed. The user can vie what
formula is applied to calculate values.
Total sales of each department.
2

From the above chart it can be analyzed that the total sale of canteen department is highest
than any other one that is €22400 and women department is low that is €18200. Also, it can be
evaluated that home ware, men and kids department total sales are close to each other. Thus,
Suma Ltd. Company is generating major profits from home ware department. The company
should focus on women unit in order to increase sales. It will help them to generate more
revenue.
Benefits of Microsoft office to business productivity
Microsoft office is set of tools, software, services, etc. developed by Microsoft. In this each
program is having distinguished features (Cui and et.al., 2015). The tool is highly used by
businesses in daily operations. It helps in accounting and recording of daily transaction that
include income and expenses. With the help of it, management is able to take decisions. The use
of Microsoft office allows business to develop reports and documents. The files are updated and
accessed quickly. Moreover, office provide feature of sharing files online. The services are used
for multi purpose. Thus, it saves time as well as cost of business. There are many software
included in Microsoft office that are described below :-
Microsoft Word- It is a service that enables in developing reports and documents. It contain
many features that are tables can be converted into graphs and charts, equations can be written,
there are various writing styles which enable user to write in different ways. Microsoft word can
3

be used by business to develop reports. By this it will be easy to convert table into charts and
graphs. Thus, data and information can be analysed and decisions are taken. The auto correct
helps in checking spelling and grammatical mistakes. So, work can be done faster with less
human error. There are many other features of word as well which are used. The charts can be
created in 3-D way without any variances.
Microsoft Excel – It is a spreadsheet developed by Microsoft. The features are it helps in
performing calculations, developing pivot table, charts, etc. and entering of data in it. This can be
used by business to enter and maintain daily transactions. It can be used for accounting. Also,
company can use it for doing basic calculations such as addition, subtraction, etc. this will be
useful in taking quick decisions (Howell, van Beers and Doorn, 2018). However, budgets can
be developed by evaluating income and expenses. Business can get an insight about daily
expenses. Therefore, actions can be taken to reduce expenses. Here, in calculations human errors
are reduced as excel give accurate answer. Alongside, the calculations are done quickly as only
formula is to be entered. Hence, complex and large calculation are done in less time.
Microsoft Power point – A powerful software used to design and develop presentations. It is
bundled with office, word, etc. the features of power point are slide transitions, adding
animations and audio. By using power point business can make presentation. This include
graphs, animation, etc. through which training can be given to employees. It will improve their
performance. Beside it, presentation can be broadcasted via internet. Hence, training cost can be
saved. Here, there are many designs available which can be used. Also, by adding audio and
animation report can be designed in less time.
Technological advancement for business
It is important for business to improve their productivity so that they can compete in the
market. Also, there has been many technological advancement occurred in present time.
Businesses are highly using technology to improve their overall productivity. It has transformed
their way of performing activities. Now, marketing is been done through e mails, robots are used
for automation, etc. Apart from it, advance IT infrastructure is designed to cope up with
technology. The use of software is allowed business to maintain product quality. In order to
initiate complex task, AI is implemented. This is benefiting them to enhance efficiency and gain
competitive advantage (Beck and et.al., 2017). Technology is providing vast opportunities for
4

business to grow and develop. So, focus is shifted on using technology. In recent time several
technological advancement has occurred. The advancement are as follows :-
Data analytics – It is a technology that is used to analyze raw data to get useful information. In
this large data set are processed to obtain info. It helps business to identify customer needs and
take effective decision. Also, strategies are followed accordingly. This helps in storing data and
saving cost.
Its limitation is data security which can be breached easily. The information stored can be
easily hacked by third party. Another limitation is using data analytics is complex task and it
requires huge cost to be implemented.
Digital marketing – It is a tool and application through which products and services are
marketed using technologies such as internet, smart phones, etc. It is useful for business as
marketing is done in effective way (Nguyen, Newby and Macaulay, 2015). Through it, large
numbers of people can be attracted. Moreover, the cost incurred in this is less as compared to
traditional marketing.
Its limitations are digital marketing requires regular maintenance due to which cost
incurred is high. Furthermore, there are many security issues occurs in using technologies. Due
to this companies prefer not to use digital marketing.
Robotics - this is the latest technology which is used by companies. It is a machine capable of
doing complex task. The machine is programmed by computer. It benefit in performing
challenging task in effective way. By this productivity is increased because they work faster than
human. Furthermore, work is completed correctly. Robots maintain quality and consistency in
business functions.
The main limitation of using robots is huge capital costs is required to design robots.
Alongside it, experienced people are required to control and operate them. So, it is difficult for
them to provide high salary to skilled staff.
Internet of thing – It is the connection of computer devices and applications. Basically IOT is
used for communicating and sharing of data. It can be used by retail companies to transform
stores and business models (Yeh, Lee and Pai, 2015). For example- smart shelves can be
designed. This will help in automatic monitoring of inventory. Through this, companies can
evaluate stock. Moreover, operation mistakes can be removed by using IOT. Digital signage can
5

be used to improve shopping experience of customers. This will ease smooth flow of selling
products.
Its limitation is installing IOT devices are costly as advance infrastructure has to be
designed. Moreover, frequent connectivity failure results in ineffective monitoring of devices.
CONCLUSION
From report it can be summarised that Microsoft Office consists of different tools and
services like Microsoft word, power point, etc. Each software contains varied features and are
used in different way by business. By using services work can be done in faster way with less
human errors. This enables in enhancing business performance. There are many technological
advancement occurred in retail industry. They are digital marketing, data analytics, robotics,
internet of things, etc. it has transformed retail industry and enhanced their productivity. There
are certain limitations as well of technology like rise in cost, insecurity, loss of data and
information, etc.
6

REFERENCES
Books and Journals
Beck, R. and et.al., 2017. Blockchain technology in business and information systems research.
Cui, T. and et.al., 2015. Information technology and open innovation: A strategic alignment
perspective. Information & Management. 52(3). pp.348-358.
Howell, R., van Beers, C. and Doorn, N., 2018. Value capture and value creation: The role of
information technology in business models for frugal innovations in Africa. Technological
Forecasting and Social Change. 131. pp.227-239.
Nguyen, T.H., Newby, M. and Macaulay, M.J., 2015. Information technology adoption in small
business: Confirmation of a proposed framework. Journal of Small Business
Management 53(1). pp.207-227.
Yeh, C.H., Lee, G.G. and Pai, J.C., 2015. Using a technology-organization-environment
framework to investigate the factors influencing e-business information technology
capabilities. Information Development. 31(5). pp.435-450.
7