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Importance of IT

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Manish Chaurasia
Manish Chaurasia

The document discusses the importance of information technology (IT) for businesses. It defines information as processed data with meaning, and technology as tools used by humans to modify their environment. Good information is accurate, relevant, complete, timely, consistent, up-to-date and easy to understand. Technology uses tools and systems to develop artifacts. The objectives of IT are product development, stakeholder integration, process improvement, cost efficiencies, competitive advantage and globalization. IT helps with work processes, speed, consistency, reliability and team productivity through functions like data capture, processing, storage, retrieval and protection. While IT increases production and communication, cuts costs and improves competitive advantage, disadvantages include high implementation expenses and potential job elimination or security bre

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Importance of IT  What is Information?  This is processed data with a meaning or an organized, meaningful and useful interpretation of data.  What is Technology?  Technology is humans using objects (tools, machines, systems, and materials) to change the natural and human-made environment.
Importance of IT  What are the characteristics of good Information?  It has to be accurate  Must be relevant to basic purposes  Complete in respect to the key elements of the problem  It has to be Timely (should be communicated in time to be used )  It has to be consistent and reliable  It has to be Up-to-date  Easy to understand  It has to be tailored to the needs of managers and end users
Importance of IT  What are the characteristics of Technology?  Technology is human knowledge  Technology uses tools, materials and systems.  Its application will result into artifacts (human-made things )  Technology is developed by people to modify their environment.
Importance of IT  The Six Important Business Objectives of Information Technology  Product Development  Stakeholder Integration  Process Improvement  Cost Efficiencies  Competitive Advantage  Globalization
Importance of IT  Importance of information technology to users and organizations:  IT helps in re-engineering of work practices  Speed  Consistency and accuracy  Reliability  Team productivity
Importance of IT  Functions of information technology  Data capture  Data Processing  Generation of Information  Storage of information  Protection of Information  Retrieval of Information
Importance of IT  Advantages and Disadvantages of information technology in Business  Advantages:  Increases production and saves time  Improves communication through communication technology  Improves data storage and file management  Improves financial management  Cuts costs of operation and increases on ROI  Improves business to consumer relationship  Improves on business competitive advantage  Automated Processes  Work Remotely  Communication  Change Management
Importance of IT  Business model transformation:  Production and operations optimization—e.g., deploying and then acquiring Kiva Systems robotics for Amazon.com warehouse logistics, or, e.g., making the Amazon Web Services “cloud” fully self-service with highly automated provisioning of computing, storage, and network resources  Eliminating intermediaries—e.g., bypassing publishers to connect authors more directly with customers, capturing a larger portion of industry revenues  New monetization models—e.g., creating Amazon Web Services and offering computing resources for rent  Shaping customer preferences—e.g., leveraging “big data” and recommendation engines to cross-sell products  Transforming underserved markets—e.g., taking a fragmented market of used booksellers and creating a single virtual storefront
Importance of IT  Disadvantages:  Implementation Expenses  Job Elimination  Security Breaches
Importance of IT  Does IT Really Matters?  HBR Article May 2003 Issue by Nicholas Carr “ IT Doesn’t Matter”  Book by Nicholas Carr; “Does IT Matter” published in 2004.  Nicholas G. Carr is an American writer who has published books and articles on technology, business, and culture.
Importance of IT  Lets find it out ourselves……..

More Related Content

Importance of IT

  • 1. Importance of IT  What is Information?  This is processed data with a meaning or an organized, meaningful and useful interpretation of data.  What is Technology?  Technology is humans using objects (tools, machines, systems, and materials) to change the natural and human-made environment.
  • 2. Importance of IT  What are the characteristics of good Information?  It has to be accurate  Must be relevant to basic purposes  Complete in respect to the key elements of the problem  It has to be Timely (should be communicated in time to be used )  It has to be consistent and reliable  It has to be Up-to-date  Easy to understand  It has to be tailored to the needs of managers and end users
  • 3. Importance of IT  What are the characteristics of Technology?  Technology is human knowledge  Technology uses tools, materials and systems.  Its application will result into artifacts (human-made things )  Technology is developed by people to modify their environment.
  • 4. Importance of IT  The Six Important Business Objectives of Information Technology  Product Development  Stakeholder Integration  Process Improvement  Cost Efficiencies  Competitive Advantage  Globalization
  • 5. Importance of IT  Importance of information technology to users and organizations:  IT helps in re-engineering of work practices  Speed  Consistency and accuracy  Reliability  Team productivity
  • 6. Importance of IT  Functions of information technology  Data capture  Data Processing  Generation of Information  Storage of information  Protection of Information  Retrieval of Information
  • 7. Importance of IT  Advantages and Disadvantages of information technology in Business  Advantages:  Increases production and saves time  Improves communication through communication technology  Improves data storage and file management  Improves financial management  Cuts costs of operation and increases on ROI  Improves business to consumer relationship  Improves on business competitive advantage  Automated Processes  Work Remotely  Communication  Change Management
  • 8. Importance of IT  Business model transformation:  Production and operations optimization—e.g., deploying and then acquiring Kiva Systems robotics for Amazon.com warehouse logistics, or, e.g., making the Amazon Web Services “cloud” fully self-service with highly automated provisioning of computing, storage, and network resources  Eliminating intermediaries—e.g., bypassing publishers to connect authors more directly with customers, capturing a larger portion of industry revenues  New monetization models—e.g., creating Amazon Web Services and offering computing resources for rent  Shaping customer preferences—e.g., leveraging “big data” and recommendation engines to cross-sell products  Transforming underserved markets—e.g., taking a fragmented market of used booksellers and creating a single virtual storefront
  • 9. Importance of IT  Disadvantages:  Implementation Expenses  Job Elimination  Security Breaches
  • 10. Importance of IT  Does IT Really Matters?  HBR Article May 2003 Issue by Nicholas Carr “ IT Doesn’t Matter”  Book by Nicholas Carr; “Does IT Matter” published in 2004.  Nicholas G. Carr is an American writer who has published books and articles on technology, business, and culture.
  • 11. Importance of IT  Lets find it out ourselves……..