1.The two IT enabled business solutions are advanced analytics and Pronounced Digital experience. The chosen business sector is banking. The activities performed by everyone has become a part of digital. The data used in the bank are being analysed in real time so that they can create and insight for their business and can improve the performance (Khodakarami and Chan 2014). With the help of modern LMSs the reporting structure has improved with advance features. This provides a multiple file format for the clients associated with the business and helps in meeting the needs of client. The report used in LMSs can be generated after regular intervals once approved by the administrators of LMS. The data stored and captured in these reports are in detailed format and can be used to learn the preferences used by the clients. Moreover, the LMS also helps in creating a dashboard so that they can present the analytics part in an attractive and simple manner with the ability to get accessed easily (Soltani and Navimipour 2016). These dashboards are made visible on learner interface and gets updated automatically. This helps the learner to manage he details easily. This will help the banking sector to gain competitive advantage. On the other hand pronounced digital experience helps the physical world to connect with the virtual world. Organization are collaborating with the digital world so that they can improve the productivity and sales. Banking sector has also included the digital technology for imrp0oving the way of working. This serves as the competitive necessity. With the use of mobile enabled solution one can easily carry their important documents. This turns to be beneficial for employees.
2.The main aim of CRM system is to improve the business relationships and manage the information’s associated with them. The key function of Customer relationship management are to coordinate and manage the interactions taking place between the customers. CRM software are considered as the best tool for managing the direct sales (Evert 2015). CRM software suppose the interactions with the customer by serving as the data management system. This software helps to improve the relationship maintained between the customers and prospects and allows to drive sake for long term period. CRM gets associated with the RGT framework in order to expand the growth of the organization (Nazir et al. 2015). The RGT framework focuses on decision making. This aims at providing better suggestion so that the organization can understand where to invest money so that it can help in the growth of the business and also helps in transforming the business with new set of operations.
3.Online transaction processing is referred to a software program that is able to support the transaction oriented application on the internet. Mainly Online transaction processing are used with the purpose of managing the customer relationship management, financial transaction, for order entry and for managing the retail sales (Dobbs 2014).
Online analytical processing is the main technology behind maximum business intelligence applications. Online analytical processing is an approach towards providing an answer to the multi-dimensional analytical queries in computing. This is a powerful technology and enables data discovery, includes capabilities for limitless report viewing and to perform complex analytical calculations.
The main difference between OLTP and OLAP are as follows:
- OLTP is a type of transactional processing whereas OLAP is an example of analytical processing system.
- OLTP is used as online database modifying system whereas OLAP is used online database query answering system.
- OLAP system are used for reading the queries whereas OLTP re used for read and modify the query if needed.
With the evolution Web has also evolved in a great way. The evaluation of web has started with HTTP in the year 1991. By the year 1992 the web evolved in HTML1 and with time the growth of internet has increased rapidly (Lambert 2017). In the mid-year of 1992 the web has developed to mosaic and then to NetScape, opera, internet explorer and to several versions of HTML.
As a consultant for the project Elite Education Institution it is necessary to improve the branding and positioning that will help to increase the competitive educational market. With the help of porters five forces model a comprehensive analysis for marketing and providing a better recommendation for the EEI (Dälken 2014). The porter’s five force will help to analyse the competition within the market. the five forces includes:
- Threat from new entrants:the institution needs to be aware about the possible threats that are likely to come from new entrant. New entrants have the capability to reduce the profitability of other firms in the industry.
- Threat from substitute products:there are chance that the product and the features offered by the institution maybe offered by some other institution. The idea of the institution is to provide same solution to fulfil the needs in the market (Lenz and Thalheim 2017).
- Industry rivalry:this is essential for every business to understand the rivalry in the market. Every business or institution needs to be aware of their competitors and their strategies.
- Bargaining power of suppliers: the bargaining power of supplier is also described as one of the major input of market. The institution needs to understand the power of bargaining.
- Bargaining power of customers: the bargaining power of the customers are considered as the main output. The options for buyers increase if there are several options in the market. With the help of these factor the institution will be able to understand the demand of the customers.
With the implementation of these forces in the institution the external factors can be understood easily. This strategies will help in expanding the internationally. In order to improve the service provided by the Elite Education Institute it is recommended to the institute to plan strategies that will be beneficial from the market point of view. That is knowledge about the other institution services and need to implement strategies that will help in gaining popularity internationally. With the implementation of proper courses and classes the institution will be able to improve its working in a better way. By providing better teaching staffs, by providing better study material and by frequently communicating with the students. This all steps will help the institution to increase brand value in the market.
Dälken, F., 2014. Are porter’s five competitive forces still applicable? a critical examination concerning the relevance for today’s business (Bachelor's thesis, University of Twente).
- Dobbs, M., 2014. Guidelines for applying Porter's five forces framework: a set of industry analysis templates. Competitiveness Review, 24(1), pp.32-45.
Evert, S., 2015. An NLP approach to the evaluation of Web Corpora. Guest lecture, Leuven, 17.
Khodakarami, F. and Chan, Y. E. (2014). Exploring the role of customer relationship management (CRM) systems in customer knowledge creation. Information & Management, 51(1), 27-42.
Lambert, S.L., 2017. Auto Accessories, Inc.: An Educational Case on Online Transaction Processing (OLTP) and Controls as Compared to Batch Processing and Controls. Journal of Emerging Technologies in Accounting, 14(2), pp.59-81.
Lenz, H.J. and Thalheim, B., 2017. A Formal Framework of Aggregation for the OLAP-OLTP Model. J. UCS, 15(1), pp.273-303.
Nazir, S., Khan, S., Jamil, R.A. and Mehmood, Q.S., 2015. Impact of customer relationship management on customer satisfaction in hoteling industry. Journal of Management Info, 2(2), pp.8-12.
Soltani, Z. and Navimipour, N.J., 2016. Customer relationship management mechanisms: A systematic review of the state of the art literature and recommendations for future research. Computers in Human Behavior, 61, pp.667-688.