ICT100 Data Analysis with Excel and Report about Modern Information Systems Assessment 2 Answer
Importance of competitive advantage is associated with use of modern information system in banks. Technology is used to prevent financial data, proprietary data, and confidential executive decisions. Technology can assist the businesses to keep the idea apart from competition. Information technology has remained powerful impact on the competitive advantage in term of cost and differentiation. This report divulges how well the graphs and charts could be used by the person to divulge the key information in effective manner so that it could help reader to understand the complicated data in just one glimpse. Technology can affect value activities and allow the organisations to get competitive advantage to exploit change in competitive business environment. Linkages need activities to remain coordinated. Timely delivery needs operations, service activities, and outbound logistics. Broad scope will include four key dimensions such as geographical and industrial scope. Metal stamping utilises several physical procession as compared to information processor.
Information system selection
Management information system will include the flow of procedures to process data in an effective manner with an aim to support decision-making. The use of MIS is the key factor for the production of products and services by collecting information, productivity, hiring of new employees and tracking the stocks (Nikolić, Vesić, & Gavrilović, 2019). Modern information technology is innovative and web development organisation based on Saudi Arabia. Modern IT avails services in several areas such as recruitment, E-marketing, content management, and UX design. A superior trait attained by the company as far as low price with greater value of differentiation is concerned (Houston et al., 2015). With the ramified economic changes, technologies has been changed and by using the graphical presentation and various software tools such as excel and spreadsheet data, users could easily present the complicated data in easy manner. It helps layman to understand the trend and possible ups an down in the data just by looking at the graph.
Importance of data representation
Decision-making is an important area through which organisational goals are achieved, overall motivation of employees is undertaken, proper allocation of resources take place, selecting the best alternative, evaluation of managerial performance, indispensable elements, and pervasive attribute (Wager, Lee, & Glaser, 2017). It is analysed that use of the graphs and other charts is used to strengthen the analysis of the data gathered and assist the possible readers and respondents to understand the trend and qualitative information in easy manner Data driven decision-making is quite important as its importance lies in continuous data. In addition to this, the use of graphical representation also helpful to respondents to evaluate the asked question and deliver their better respondent data for the research paper. If the data is properly represented then it will resolve the possible issues which might be encounter by the reader in the general research paper. The charts, diagram and other sort of tables divulge the trends of the complicated set of data which assists readers to understand in the one glimpse. Further, it also enable the organisations to create new emerging opportunities, generation of more revenue, optimising the current efforts and finally produce deeper insight for action. Data analysis in this situation helps to identify the gap occurring in real time, finance, marketing, sales, product development, and other several processes. The strategic decision making is highly dependent upon the right flow of information.
However, presentation of the data has been used and divulged as below
|Re-Entry Required due to system errors||58||1||40||3||35||92||228.8889||1||92||46.44444|
|Transactions per module (6 modules)||4.8||4.0||4.5||6.3||3.6||5.0||28.23704||6.3||4.8||5.565|
The above given data shows the daily revenue and transaction cost and b lock cost which has been divulged with the use of excel based table. However, the graphical presentation of the daily revenue and other parts have been given for the better understanding of gathered data
If the data gathered is revealed in right manner such as with the implication of excel based formula and right computations then the strategic decisions taken would also be effective. For instance, if the computed data or shown data is wrong then the decision making based on the gathered data will also be wrong which will eventually result to the high loss to the organization.
After assessing all the details, it has been found that the representation of the data is imperative to make the easy and effective decision making. For instance, use of the graphs and other charts is helpful to strengthen the analysis of the data gathered and helps reader to understand the proper trend and qualitative information in easy manner. The graphical presentation and use of excel formula interlink with each other and helps users to understand each and every cell and their interlinked with the particular set of data. Now in the end, it could be inferred that if the data is too much complicated then the use of excel formula based sheet is helpful to interlink the cells with each other and by using the graphs and charts the data interpretation is made easy.