Information Management & Quantitative Analysis Report

This report details the upgrade of XYZ Company's information management system. It covers the impact on hardware, software, networking, telecommunications, and decision support systems. The report emphasizes the role of data in determining key performance indicators (KPIs) and overall performance. It discusses data collection, sampling, hypothesis testing, and analysis of variance. The conclusion highlights the importance of information management systems and the crucial role of data in business operations. The report includes references to various sources supporting the analysis and conclusions.

Information Management & Quantitative Analysis
Table of Contents
Introduction.................................................................................................................................................3
Information Management Systems and its Upgrade....................................................................................3
Hardware.................................................................................................................................................3
Software..................................................................................................................................................3
Networking and Telecommunications.....................................................................................................4
Decision Support Systems.......................................................................................................................4
Use of Data in Determining KPIs and Overall Performance........................................................................5
Data Collection and Sampling.................................................................................................................5
Hypothesis Testing..................................................................................................................................6
Inference and Analysis of Variance.........................................................................................................6
Conclusion...................................................................................................................................................6
References...................................................................................................................................................7
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Information Management & Quantitative Analysis
Introduction
XYZ Company is an organization that is now looking forward to upgrade its current information
management systems to the advanced information systems. The decision of the organization to
upgrade its information systems as per the latest security and decision support activities will have
an impact on the other components and elements of the organization. The report covers the
impact and modifications that will be required to be made in the hardware, software, decision
support systems, networks and telecommunications.
The report also covers the role of data in better analysis of the key performance indicators along
with overall performance, data collection, sampling, variations, inference and several other
related parameters.
Information Management Systems and its Upgrade
There will be changes and upgrades that will be required to be made in various other components
and elements of the organizations.
Hardware
An evaluation will be required to be carried out on the hardware components that are being used
in the organization and their compatibility with the new set of information management systems
that will be used and installed.
There may be a number of obsolete hardware tools and equipments that may be in use, such as,
obsolete networking equipment, computer systems, connecting tools etc. The performance of the
upgraded information management systems may be impacted due to such tools which will be
required to be upgraded to advanced version.
Software
There is a lot of change and transformation that is being happening in the field of software
components. There must be many software components that must be in use in the organization.
In order to make complete use of the advanced information management systems, it will be
required to ensure that the integration of the software components can be done without any
technical and performance issue. For instance, there may be a number of other tools, such as,
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Information Management & Quantitative Analysis
reporting tools, resource tracking tools, communication tools, design and development tools and
many more that must be in use by the organization.
An analysis of the changes and upgrades that must be made in these tools in terms of their
version or technicalities will be necessary to be installed so that the new set of information
management systems are compatible with them.
Networking and Telecommunications
Every organization has networking architecture and a telecommunication framework that is
followed. The networking architecture that is followed in the organization may also require a few
upgrades. The new information management system will include the components of enhanced
security and decision making capabilities. The networking architecture must make use of the
tools such as automatic network scans, network based intrusion detection systems and log
maintenance tools for the better performance of the networks (Boutaba & Xiao, 2012).
There are also many of the telecommunication tools that are used in the organization. These tools
are used for the tele-conferencing and other communication activities with internal and external
entities. The security of these tools will be enhanced only if they are compatible with the latest
information systems.
Decision Support Systems
One of the most significant information management systems that are being used in almost every
organization in the present era is the decision support system.
These systems assist the management and decision makers with the ability to take decisions
regarding the organization success on the basis of varied information and details (Ignou, 2017).
The upgrades will be required to be made in these systems as well so as to ensure that the
decision making capabilities are made on the basis of the technologies using the concepts of
Business Intelligence and Big Data (Marin, 2017).
There will also be compatibility tests that will be required to be carried out on the basis of
analysis results.
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Information Management & Quantitative Analysis
Use of Data in Determining KPIs and Overall Performance
Key Performance Indicators which are commonly referred as KPIs are the parameters which are
used to understand the ability of the organization to meet its performance goals and objectives.
KPIs are also specific to the organization, its employees and the projects that are undertaken by
the organizations. In case of the XYZ Company, KPIs will be necessary to be determined for
understanding the organizational performance and the performance of its employees (Pwc,
2007).
There is a lot of data and analytics involved in the calculation and measurement of these KPIs.
The upgraded information management systems will also have a role to play in the determination
of the KPIs.
Return on Investment (ROI), Marketing Traffic, Customer Acquisition Cost (CAC), Monthly
Expansion Rate, Social Media Followers, Social Sentiment and number of calls received are
some of the KPIs that may be used for the overall performance measurement (Iveta, 2012).
Data Collection and Sampling
There is a lot of data that is necessary to be collected from different data sources in order to
measure and calculate a particular KPI. For instance, in case of the KPIs as social sentiment and
social media followers, the data sources will be the social media accounts of the organization and
the users linked with each of the social media account. This data will determine the number of
followers and social sentiment associated with the company.
The requirement of data is mandatory in the calculation of other KPIs as well. The automated
information management systems may be used for automated data collection and analysis for the
calculation of KPIs (Scribd, 2017).
Sampling distribution and the determination of a correct sample size is also necessary for the
quantitative data analysis. For instance, in order to design the Bell Curve for performance
appraisals of the employees, the sample size shall include the number of project team members
in a particular project. The data will be collected for the particular sample size which will then be
processed (Shaout & Yousif, 2014).
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Information Management & Quantitative Analysis
Hypothesis Testing
Hypothesis testing is an activity that is carried out on the data collected for quantitative analysis.
It may be used in the performance evaluation of the XYZ Company with the use of null
hypothesis and alternative hypothesis.
Null hypothesis is a parameter that is used for testing purpose. It states that there is no difference
and variation between the parameter and statistics that are being compared. Alternative
hypothesis is exactly the opposite of null hypothesis (Besson & Kunt, 2010).
The involvement of data in the process is significant and the entire activity can be executed only
when the adequate data sets are made available.
Inference and Analysis of Variance
These are the results or the outcomes that will be achieved after the process of data collection,
sampling distribution and hypothesis testing on the quantitative data collected is accomplished
(Singh, 2014).
These will provide the values of the KPIs along with the further information regarding the
performance of the company.
Conclusion
Information management systems have become an integral part of the organizations in the
current times. These systems are being used and applied in every business activity that is carried
out. These business activities may have low to high complexity. In case of XYZ Company, the
decision has been taken to upgrade the information management systems. This will result in the
need to upgrade the hardware, software, networks and telecommunications along with the
decision support systems as well. Data has a significant role to play in the business activities and
operations. The measurement of performance and the calculation of the Key Performance
indicators (KPIs) can be done with the aid of the data. The operations such as collection,
sampling distribution, hypothesis testing, inference and analysis of variance have a complete
dependency on the quantitative data sets (Garbarino & Holland, 2009). It shall therefore be made
sure that the structured and unstructured data sets that are associated with the organization are
managed accurately.
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Information Management & Quantitative Analysis
References
Besson, P., & Kunt, M. (2010). Hypothesis testing as a performance evaluation method for
multimodal speaker detection. Retrieved 8 September 2017, from
https://infoscience.epfl.ch/record/91015/files/icinco.pdf
Boutaba, R., & Xiao, J. (2012). Telecommunication Network Management. Retrieved 8
September 2017, from http://www.eolss.net/sample-chapters/c05/e6-108-12.pdf
Garbarino, S., & Holland, J. (2009). Quantitative and Qualitative Methods in Impact Evaluation
and Measuring Results. Retrieved 8 September 2017, from
http://www.gsdrc.org/docs/open/eirs4.pdf
Ignou. (2017). Decision Support Systems. Retrieved 8 September 2017, from
http://www.ignou.ac.in/upload/BME-063P2-06.pdf
Iveta, G. (2012). Human Resources Key Performance Indicators. Retrieved 8 September 2017,
from http://www.cjournal.cz/files/89.pdf
Marin, G. (2017). Decision support systems. Retrieved 8 September 2017, from
http://ftp://ftp.repec.org/opt/ReDIF/RePEc/rau/jisomg/FA08/JISOM-FA08-A19.pdf
Pwc. (2007). Guide to key performance indicators: Communicating the measures that matter.
Retrieved 8 September 2017, from https://www.pwc.com/gx/en/audit-services/corporate-
reporting/assets/pdfs/uk_kpi_guide.pdf
Scribd. (2017). Performance Appraisal | Performance Appraisal | Statistical Hypothesis Testing.
Scribd. Retrieved 8 September 2017, from
https://www.scribd.com/doc/17104982/Performance-Appraisal
Shaout, A., & Yousif, M. (2014). Performance Evaluation – Methods and Techniques Survey.
Retrieved 8 September 2017, from
http://www.ijcit.com/archives/volume3/issue5/Paper030516.pdf
Singh, D. (2014). Quantitative Metrics for Hedge Fund Performance Evaluation: A
Practitioners' Guide. Retrieved 8 September 2017, from
https://jscholarship.library.jhu.edu/bitstream/handle/1774.2/38114/SINGH-THESIS-
2014.pdf
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