Answer to Question 1
Business Intelligence: Business Intelligence is referred to as a technology driven process or software application that is used to analyze data in business organizations. BI encompasses an extensive set of tools, applications and different methodologies which enables the organizations to gather data from external and internal resources (Demirkan & Delen, 2013). In order to improve the decision making approaches, cutting cost and new business opportunities enterprises use BI.
IT Agility: IT agility is a kind of corporate mindset that helps to measure the changing rate of infrastructure based on the market stimuli. In order to change business circumstances and lead a business in the competitive market concept of IT agility is used by the business organizations (Arora, Parashar & Transforming, 2013). Thus, it can be said that IT Agility is the capability of the business organizations to anticipate and respond to the changed business.
SWOT Analysis: SWOT analysis is referred to as a tool used to audit the ambience of a business organization. This is the initial phase of planning which helps the marketing team to focus and identify the key issues off the business organizations (Bull et al., 2016). In order to add additional values to the products, items, services and to get competitive advantages from the marketplace the business organizations do internal analysis regarding SWOT analysis.
Strategic Planning: In order to set priorities, business-focused energy and resources for strengthening organizational operation and functions the organizational management named as strategic planning is used. Strategic planning helps to execute the business goals efficiently (Timm et al., 2016). Strategic planning is consists of individual diagnostic, analytical factors such as resources analysis, strategy formulation and its execution.
Enterprise Architecture: In order to define the business structures, functions and operations a conceptual blueprint is required to be framed by the business organization, that conceptual blueprint is known as enterprise architecture (Riggins & Wamba, 2015). It helps to determine the ways through which it could gain the current and future business objectives efficiently. For improving the decision making approaches, marketing conditions and to eliminate the unnecessary stuff EA is helpful.
Management Information System: It is a study of technology, organization and administration at the time. In order to serve effective, efficient and strategic decision making approach to the business organizations MIS is required to be adopted by the management teams (Sköldström et al., 2014). The professional MIS helps the enterprises to increase their benefits from the total investment.
MIS and DSS: In the field of business management these two terms are used widely. The functions for these two are almost similar but still few aspects are different. MIS is referred to as a bridge that could provide linkage between the managers and the fellow team members. In order to build up communication between the corporate people, MIS plays the important role (Aggarwal, 2016). On the other hand, Decision Support System is much leadership focused.
Cloud Infrastructure: Cloud infrastructure is referred to as a virtual platform that provides controlled access to the network on the internet web. It provides an on-demand service to the users through the help of IaaS (Infrastructure as a Service), this is the core delivery model of cloud computing (Liu et al., 2013). The infrastructure includes virtual server, memory, PCs and storage cluster.
Data and text Mining: Data mining is a sorting practice that is widely used to identify the pattern of new information and helps to establish a relationship among the data as well (Arora, Parashar & Transforming, 2013). On the other hand, text mining is a process used to derive high quality information from the text.
DMS: Data Management system is a crucial technology that is required to be used by different business organizations to manage large data set. In order to provide security to the appropriate information management in terms of privacy policy, encryption is needed to be adapted by the enterprises.
Big Data: Big data is an analytical tool that is used to analyze the large set of data stored in their organizational data server (Skoldstrom et al., 2014). It helps to take efficient and beneficial decision for the organization. It contributes to share, transfer, visualize and search data from the data storage.
Answer to Question 2
List of Information Technology key Performance Indicators
- Business process
- Service level agreement
- Compliances
- Budget of the business project
Advantages and Disadvantages of KPI associated to IT
Advantages: It helps to measure, identify and count all the natural business aspects. It increases the efficiency of a management system that is needed to take the practical decision. It contributes to share and measure objectives of a team work (Parmenter, 2015). It serves visibility on performance and strategic goal to the business organizations. It provides improved and flexible business operations.
Disadvantages: It has no such connection along with the external database, and it could be measured very frequently. In order to improve the future results in an easy way, the KPI are used. Due to various data collection most of the times an organization faces major issues.
Answer to Question 3
SaaS: It is a distributive software model that holds third party host applications and makes them effectively available to the consumers over internet services whenever required (Tang & Liu, 2015).
Benefits and Disadvantages of SaaS
Benefits: SaaS model can be developed in lesser time with little cost. The average time required to deploy new SaaS oriented applications through cloud computing is efficient from the business aspect (Weber, Nepal & Zhu, 2016). The internal responsibilities also get reduced, and the users could access data regardless of the location and time. The models are flexible, scalable and the application resilience gives data backup and disaster recovery opportunities also.
Disadvantages: One of the major issues associated with SaaS model is security. If proper security is not provided to the data server then, the external attackers will easily access the data from the storage without any interruption (Von Solms & Van Niekerk, 2013). Moreover, for this reason, the inventory management and the core business process are also interrupted.
References
Aggarwal, P. (2016). The Importance of Management Information System (MIS) and Decision Support System (DSS) in Decision-Making Process. Imperial Journal of Interdisciplinary Research, 2(12).
Almorsy, M., Grundy, J., & Ibrahim, A. S. (2014). Adaptable, model-driven security engineering for SaaS cloud-based applications. Automated Software Engineering, 21(2), 187-224.
Arora, R., Parashar, A., & Transforming, C. C. I. (2013). Secure user data in cloud computing using encryption algorithms. International journal of engineering research and applications, 3(4), 1922-1926.
Bull, J. W., Jobstvogt, N., Böhnke-Henrichs, A., Mascarenhas, A., Sitas, N., Baulcomb, C., ... & Carter-Silk, E. (2016). Strengths, weaknesses, opportunities and threats: A SWOT analysis of the ecosystem services framework. Ecosystem services, 17, 99-111.
Demirkan, H., & Delen, D. (2013). Leveraging the capabilities of service-oriented decision support systems: Putting analytics and big data in cloud. Decision Support Systems, 55(1), 412-421.
Liu, H., Ke, W., Wei, K. K., & Hua, Z. (2013). The impact of IT capabilities on firm performance: The mediating roles of absorptive capacity and supply chain agility. Decision Support Systems, 54(3), 1452-1462.
Parmenter, D. (2015). Key performance indicators: developing, implementing, and using winning KPIs. John Wiley & Sons.
Riggins, F. J., & Wamba, S. F. (2015, January). Research directions on the adoption, usage, and impact of the internet of things through the use of big data analytics. In System Sciences (HICSS), 2015 48th Hawaii International Conference on (pp. 1531-1540). IEEE.
Skoldstrom, P., Sonkoly, B., Gulyás, A., Németh, F., Kind, M., Westphal, F. J., ... & Elek, J. (2014, September). Towards unified programmability of cloud and carrier infrastructure. In Software Defined Networks (EWSDN), 2014 Third European Workshop on (pp. 55-60). IEEE.
Tang, C., & Liu, J. (2015). Selecting a trusted cloud service provider for your SaaS program. Computers & Security, 50, 60-73.
Timm, I. J., Woelk, P. O., Knirsch, P., Tönshoff, H. K., & Herzog, O. (2016). Flexible Mass Customisation: Managing Its Information Logistics Using Adaptive Cooperative Multi-agent Systems. In Developments in Logistics and Supply Chain Management (pp. 203-211). Palgrave Macmillan UK.
Von Solms, R., & Van Niekerk, J. (2013). From information security to cyber security. Computers & Security, 38, 97-102.
Weber, I., Nepal, S., & Zhu, L. (2016). Developing dependable and secure cloud applications. IEEE Internet Computing, 20(3), 74-79.
