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Question 1 

Describe two IT enabled business solutions in one specific industry of your choice (e.g. Banking, airlines., etc.), ONE provides a competitive advantage and one servers as a competitive necessity. Justify your answer. 

Question 2 

What are the typical functions in a CRM system? How does CRM fit into the RGT framework? 

Question 3 

What is online transaction processing (OLTP) and what is online analytical processing (OLAP)?  What are their major differences between OLTP & OLAP? 

Part IV   Practical Questions  

  1. The evolution of the Web never stops, from the first generation to nowadays’ the semantic Web. The technologies and the applications have changed dramatically. Please explain each generation of the Web concisely and give some representative applications based on their characteristics. 
  1. Australia education industry has grown at an unprecedented rate in the past ten years during the period 2008-2018. Elite Education Institute (EEI) takes great pride in the quality of courses and services delivered to students seeking a highly prized Australian Higher Education Qualifications and it expands internationally through strategies that account for the external factors in the industry environment, suppose you are a consultant working on a project that assist the Elite Education Institution to improve its branding and position in the increasingly competitive educational market. According to the Five Forces model, provide a comprehensive analysis for the market and recommendations for the EEI.

Two IT Enabled Business Solutions for Banking Industry

1. Two of the IT enabled business solution that are to be implemented would be used by the banking sector. The solutions have been discussed below:

  1. Competitive Necessity: This can be provided by making use of the cloud computing solutions. The reason lying behind the usage of this technology is that it is not only secure but is also cost-effective. The cloud infrastructure is associated with storage of data in servers which are secure and are maintained properly. Monitoring of the servers are done by the data center present at the side of the cloud service providers. One of the major reasons for which the cloud infrastructure is used id that it provides the organizations to operate in a flexible way along with providing them with increased agility. The banking data would be stored in the clouds in an encrypted format so as to ensure better security for the data. This type of service is considered to be a necessity as the cloud computing service is one of the best ways of storing the data online in a secure way which is better than the traditional means which includes the house servers or the flash drives or the external hard drives.
  2. Competitive advantage: There are various ways by which a bank can gain competitive advantage and one of the most important service that helps in gaining competitive advantage is the mobile banking service or the Mobile financial service. This is the implication of the new concept of digitalization where there is no need of visiting the banks in order to conduct the various kind of transactions. For delivering the customers with this mobile banking service the banks have been associated with the development of application for the android as well as for the IOS. This type of application would not only be associated with making the banking sector move toward digitalization but would also be helping the customers in performing various kind of banking tasks like money transfer or, making payments. The easy to use feature along with the sophistication of the mobile banking services helps a particular bank to gain competitive advantage over the other banks existing in the market. This would also be helping a lot in gaining customers satisfaction as well. 

The CRM also known as the Customer relationship management systems is associated with providing assistance in the process of managing the information along with helping in the sharing of information all across an organization. CRM is also responsible for the sharing of information directly to the customers as well. The CRM system used by any of the organization helps in maintenance of an effective communication with the customers. The CRM is primarily responsible for acting as the data management system that would be associated with providing assistance to the organization so as to have good relation with the customers. This also helps in the management of all other information related to the customers so as to manage the business in an effective way.

The RGT framework is used in order to optimize process execution of preexisting strategies. It is used to help in the growth of market share as well as transforming the service offering of the different organizations, which in turn will attract a greater number of customers. The RGT framework ensures to address all the needs of the present trends of the markets as well as the customers, which again is what the CRM also aims to do. CRM is mainly associated with growing the organization and expanding the management operations within the organization using the features of RGT framework. The RGT tools further analyze the mathematical values and data collected from the CRM calculations, and a shared output or result is achieved through the integrated system.

Online Transaction Processing is the location where the information systems are associated with facilitating and managing the various transaction-oriented applications specially for the data entry and the retrieval transaction processing. This can also be defined as a class of system which is responsible for supporting the different kind of high transaction-oriented applications. The primary system of OLTP consists of features like immediate client feedback and individual transaction volume.

OLAP or the Online Analytic Processing is considered to a certain category of software tool which is associated with providing analysis of the data that are stored in a particular database. The tools of OLAP are associated with enabling the users to analyze the various dimensions of the data which are multidimensional in nature.  

Typical Functions in a CRM System

Web 1.0 was the first generation of the Web which was commonly known as the cognition system or the read only web. This started as the platform where only information related to organizations were broadcasted for the people.  Besides this there also existed very limited interaction with users or content contribution.

Followed by Web1.0 is the Web 2.0 which is also known as the read-write web. This was associated with allowing the assembling along with the management of the widespread crowd which was associated with the sharing of common goals of the social network.

After this the Web 3.0 which was followed by 4.0. Web 3.0 is also termed as the semantic web that was aimed at reduction of the involving human interactions and was associated with leaving most of the work to be done by the machines. For doing this the machines were associated with the usage of contents that can b read by the machines. The Web 3.0 consisted of two major platforms one of which is the usage of the semantic technology and another one is the social environment for computing. Web 4.0 is considered to be the future of the Web technology. This consists of the read along with write-execution-concurrency form of the Web technology. Besides this it also consisted of features which are much more advanced as well as intelligent than the versions released previously. This version is also commonly known as the symbiotic web where the work done by the machine and humans are merged together. 

  1. Five force model analysis of the organization Elite Educational Institute has been listed below:
  2. Competitive Rivalry:

Number of educational firms in Australia is increasing day by day which has initially been leading to the increase in competition for the institute Elite Educational Institute. The rivalry with the other institutes has been associated with increasing the concern regarding their institute to protect their increasing market share. The competition mainly exists so as to provide the students with better courses at a more competitive price than the other institutions. There are various competitors Elite Educational Institute and the major competitors are Kent University, Institute of Tertiary and higher education.

The suppliers are associated with gaining more control of the market if the number exceeds the number of buyers existing in the market. by making use of the forward integration it is possible for the suppliers to cause vertical integration along with offering competition for the buyers who are existing in the educational industry. in case if the members are belonging to the incumbent industry and are not the potential customers, then it is observed that the suppliers would be attaining a greater power while business is being conducted with the Institute.

Online Transaction Processing (OLTP) and Online Analytical Processing (OLAP)

The Elite Educational Institute is consisting of members who are having the capability of measuring the power that are exhibited by the buyers. this is done by having a better understanding of the concentration that the buyers are having towards the market. the more the concentration the more is the share in the market. the buyers of Elite Educational Institute include the Students who are having a better choice of selecting the courses that are provided by the institute. besides this the students might also face problems related to the course fees. students who are well informed are having a better idea about their future if they understand the fact that in case if they peruse a particular course then it would become easy for them to achieve success in the future. this would help them in earning a value for the money that they have invested. the elite educational institutions students having more asymmetric control over the different businesses conducted by the institution. The students would become capable of expressing their views if the courses of the institution are standardized according the educational institutes of Australia. besides this this flowing of the standardization would also be helping the students in posting the concerns that they are having along with the complaints on the forums provided for social and public purposes.

Numerous educational institutes existing in Australia and are providing full time courses are always associated with posing a great amount of threat for the organization Elite Educational Institute. besides this there also exists cases where it is seen that the basic criteria needed for perusing the courses are often not met. this mainly happens when the organization is associated with seeking for options related to the short time less expensive courses that is almost similar to the ones provided by the other private institutions existing in the market. besides this all this existing professional certificate courses are less expensive than all other full-time academic courses that are provided by Elite Educational Institute.

Threat from the new entry is one of the major problems that is to be faced by the Elite Educational Institute. there exist various educational institutions which pose a major threat for the institution and some of the educational situates includes the following.

  • Kings International College.
  • Cambridge International College.
  • AICL Sydney.
  1. Dobbs, M., 2014. Guidelines for applying Porter's five forces framework: a set of industry analysis templates. Competitiveness Review, 24(1), pp.32-45.

Karan, E.P., Irizarry, J. and Haymaker, J., 2015. BIM and GIS integration and interoperability based on semantic web technology. Journal of Computing in Civil Engineering, 30(3), p.04015043.

Liao, J., Zhuang, X., Fan, R. and Peng, X., 2017. Toward a General Distributed Messaging Framework for Online Transaction Processing Applications. IEEE Access, 5, pp.18166-18178.

Panahiazar, M., Taslimitehrani, V., Jadhav, A. and Pathak, J., 2014, October. Empowering personalized medicine with big data and semantic web technology: promises, challenges, and use cases. In Big Data (Big Data), 2014 IEEE International Conference on (pp. 790-795). IEEE.

Surma, J., 2015. The Role of Individual Behavior and Social Influence in Customer Relation Management. In Handbook of Research on Managing and Influencing Consumer Behavior (pp. 385-396). IGI Global.

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My Assignment Help. 'IT Enabled Business Solutions, CRM Functions, OLAP Vs. OLTP, Industry Competition, And Essay.' (My Assignment Help, 2019) <https://myassignmenthelp.com/free-samples/mis101-management-information-system-for-cloud-service> accessed 17 July 2024.

My Assignment Help. IT Enabled Business Solutions, CRM Functions, OLAP Vs. OLTP, Industry Competition, And Essay. [Internet]. My Assignment Help. 2019 [cited 17 July 2024]. Available from: https://myassignmenthelp.com/free-samples/mis101-management-information-system-for-cloud-service.

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