ICT100 Foundation Of Information System In First Bank Assessment 2 Answer

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Question :

T3 2019: ICT100 Foundations of Information Systems

Assessment 2


Case Study Assignment:  Individual case study assessment composed of two submissions in Moodle: Part 1- Excel sheet and Part 2- Report (1,000 words).

Assessment topic: Data Analysis with Excel and Report about modern information systems.

Submission: On the submission link in Moodle, there are two tabs: Part 1 and Part 2.  Submit the Excel spreadsheet in Part 1 and the Report (Word format) in Part 2 on or before Sunday 15 December 2019 by 11:55pm (Week 6).  Do not compress the files as a zip folder.

Purpose: In this assessment students are to critically analyse a given case study. Students will use an Excel spread sheet and its different functionalities to analyse the case study. This assessment contributes to learning outcomes b and d.

Value: 15%

Assessment Details:

FIRST BANK is aggressive in its strategy to grow its customer base by offering tailored financial solutions.  To ensure the bank is prepared to address the potential surge in transactions, the bank is evaluating different systems to replace its legacy core banking application.  The I.T. team is evaluating six systems (CB1 to CB6) that were presented to them by independent software vendors.  The given file  Assessment2-Datafile.xlx  contains testing results for these core banking systems (XX is the last two digits of your student ID). The assignment requires students to analyse the given case study and provide their recommendation for selection of the best system for the company. The assignment has two main parts:

  1. Data Analysis with Excel: Analyse the given data in  Assessment2-Datafile.xlx  after completing the tasks given.  Analysis is based on the use of various excel formulas and graphs learned in class. 
  2. Report: Write a report for First Bank that must include the following sections:
    • Introduction: Discuss the importance of competitive advantage associated with the use of modern information systems.
    • Information System Selection: Justify the selection of core banking system based on the results generated in the excel sheet. The justification must be based on the two graphs.
    • Importance of Data representation: Discuss the importance of correctly representing data for easy decision making.
    • Conclusion: Must summarise the important parts of the report and should include recommendations for using information systems for competitive advantage.
    • Reference List: At least two references from academic journals.  In addition, proper in-text referencing is to be followed.  

Details of Data Analysis with Excel:

Download the file  Assessment2-Datafile.xlx  and complete the following tasks:

1. In the row labeled “Total Transactions”, calculate net transactions after deducting “Re-Entry Required due to system errors” from “Transactions”.

2. In the row labeled “Transaction Block”, calculate the transaction block by dividing Total Transactions by 50.

3. In the row labeled “Transactions per module (6 modules)”, calculate the transactions for each module by dividing Transaction Block by 6. 

4. In column H use the Sum function to give totals (for all systems – CB1 to CB6) for each of the rows (rows 4 to 8).

5. In column I determine the lowest value (for all systems – CB1 to CB6) for each of the rows (rows 4 to 8).

6. In column J determine the highest value (for all systems– CB1 to CB6) for each of the rows (rows 4 to 8).

7. In column K determine the arithmetic mean (for all systems – CB1 to CB6) for each of the rows (rows 4 to 8).

8. The forecasted Daily Revenue gained from each system is based on transactions per module that is used in analysis for sales and marketing campaigns.  There is a total of 6 modules. Use a lookup table with revenue that changes according to the number of Transactions per module. You will use the range B8 to G8 (Transactions per Module) for the formulas to calculate daily revenue. There is a table on the spreadsheet showing the Daily Revenue. Use either the Lookup function or VLookup function to find the daily revenue for each of the systems CB1 to CB6 (make sure to use absolute referencing in your formula for the array field).

9. Create a Clustered Column chart for the Total Transactions. Remember to select the correct ranges and ensure the title of the chart is “Total Transactions”.

10. Create a Pie chart showing the column “Re-entry required due to system errors”. Remember to select the correct ranges and ensure the title of the chart is “System Errors”.


Marking Criteria: The assessment will be marked based on the following criteria:  

1.Correct use of Excel formulas and graphs

2.Well-written and directly answers the question

3.Provides supported argument with at least two references (from academic journals and books)

4.Demonstrates knowledge of the subject matter

5.Draws a conclusion based on argument

Refer to the Subject Outline for a detailed breakdown of this criteria.

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Answer :

Foundation of Information system

Introduction

With the ramified business economic changes, every organization needs to strengthen the business by creating the competitive advantage in this modern world. The implication of technologies and alignment of the advance technologies helps in creating the competitive advantage over the other business rivals. The modern information system helps in creating the foundation for the organization which strengthen the flow of data in various department in easy manner and also sets automation in updating of data query and creating the information flow management program. The information system modern implication is useful for the First Bank which help in increasing the effectiveness of the business decisions and also divulges the proper data in systematic manner. The implication of modern information system in Bank shows the proper flow of information in the business decision making process which helps in reduction of the associated cost and also helps in creating the risk management program to mitigate the uncertain risks in process. With the implication of modern information system in the process, First Bank could easily avoid the possible hindrance in process which would set up smooth flow of information (Franke, Mosk, & Schnebel, 2016). The competitive advantage of implicating the modern information system in First Bank would be created with the decreased banking cost, proper flow of information and symmetry in process. 

Information system selection 

The selection of the core banking system based on the various factors such as cost associated with the process, timely delivery, accompanied with the complexities and other influencing factors which affects the implication of the information management system in the banking program. This includes the procedures to process the data in support of the decision making. The MIS in the backend system will be useful which process the daily banking transactions and posts updates to accounts and other financial records. For instance, cost of the once process will be directly linked to other process costing which will eventually impact the daily revenue of the system in banking process. The MIS is useful and innovative web development system based on the Saudi Arabia (Franke, Mosk, & Schnebel, 2016). 

Re-entry required due to system errors

This provides UX Design, marketing and content service management program services for the organization. In addition to this, in the shown graphs, it is found that First Bank has faced the higher costing due to eth re- entry required due to the system errors which could have been possibly reduced by bank if the proper modern MIS system was adopted (Franke, Mosk, & Schnebel, 2016).

Importance of data representation

The decision making is accompanied with the long strategic process which is undertaken with the due care and coherent thinking process. It helps in reducing the possible errors and eliminating the possible uncertain risks of the process. The right decisions making is useful to accomplish the certain goals, allocation of resources and selecting the best alternatives in the given projects (Rahaman, 2017). With the right representation of the data, accurate decisions could be taken effectively and it also helps First Bank to strengthen the choice of the investment banking by using the comparison method. The graphical representation of the data in right manner helps in evaluating the ups and down in effective manner and also shows the possible details changes in % and data as well which is useful to gauge the factors associated with the time and interlinked changes. 

 CB1CB2CB3CB4CB5CB6TotalLowestHighestAverage
Transactions $  1,500.00  $  1,200.00  $  1,400.00  $  1,900.00  $  1,100.00  $  1,600.00  $  8,700.00  $  1,100.00  $  1,900.00  $  1,450.00 
Re-Entry Required due to system errors $        64.00  $          1.56  $        70.00  $          9.00  $        41.00  $        86.00  $     271.56  $          1.56  $        86.00  $        45.26 
Total Transactions $  1,436.00  $  1,198.44  $  1,330.00  $  1,891.00  $  1,059.00  $  1,514.00  $  8,428.44  $  1,059.00  $  1,891.00  $  1,404.74 
Transaction Block $        28.72  $        23.97  $        26.60  $        37.82  $        21.18  $        30.28  $     168.57  $        21.18  $        37.82  $        28.09 
Transactions per module (6 modules) $          4.79  $          3.99  $          4.43  $          6.30  $          3.53  $          5.05  $        28.09  $          3.53  $          6.30  $          4.68 
Daily Revenue $  1,000.00  $  1,300.00  $  1,600.00  $  1,900.00  $  2,200.00  $  1,800.00  $  9,800.00  $  1,000.00  $  2,200.00  $  1,633.33 

It is analysed that if the data gathered in shown in the right manner then it will be useful while preparing the strategic decision. It shows the right direction and helps in preparing the right flow of trends in the business decision making. For instance, if in the first bank the transactions entered is not shown right or the computation of the total transactions is made wrong then the daily revenue computation will also be wrong (Abbas, et al. 2018). If these wrong data is taken into consideration while making the strategic decision by the managers then it will impact the costing of the banking process, create the glitch in process and also lower down the efficiency of the banking program. The graphical presentation will also reveals the wrong results to the stakeholders which will impact the true and fair view of the recorded data. The decision taken on wrong data will eventually impact the business costing, time associated with the process and create hurdle in the banking process (Houston, et al. 2015).

Conclusion

After assessing all the data divulged in report on the implication of the data presentation of First Bank, it is found that if the proper modern information technologies system is used then it will set up strong competitive advantage. The competitive advantage of reducing the costing, saving time and easy flow of information will keep the First bank distinct from others in market which would strengthen the overall outcomes and save the business costing. In addition to this, the MIS is useful for the First Bank which help in increasing the effectiveness of the business decisions and also divulges the proper data in systematic manner. It is found that right decisions making is based on the proper flow of information and implication of the right modern information technologies system which helps in accomplish the certain goals, allocation of resources and selecting the best alternatives in the given projects