Discuss two business information systems that are used in two different sectors of the modern

Ghanaian economy.

Business information system is defined as a group of interrelated components that work collectively
to carry out input, processing, output, storage and control actions in order to convert data into
information products that can be used to support forecasting, planning, control, coordination,
decision making and operational activities in an organization. In the digital era that dominates most
modern industries in Ghana, information systems play a vital role in providing managers,
supervisors, and rank-and-file employees with the tools they need to be more efficient, more
productive and more customer-focused. Network information systems enable businesses to not
only share knowledge but also to draw from the same data, so that operational processes are
uniform throughout every department. The two sectors that uses business information systems
are the financial sector and the telecommunication sector.

Firstly, the telecommunication sector, Currently, six world-renowned telecommunication

companies operate in Ghana. The companies are tiGO, Vodafone, Vodafone, Airtel, Expresso
and surfline, are jostling for market share which has been growing over years. And all these
companies use business information system to reach their customers. The Business
information system that this sector uses most is Customer relationship management. It helps
quantify and qualify the customer experience, as it relates to a business. Customer relationship
management systems collect customer behavior such as buying trends, types of customer
enquiries, and customer subscription accounts. Each customer interaction with a business can
provide valuable information not just about existing customers, but also about prospects that
call to inquire about a company’s products and services. It also helps help then to strengthen
their customer care services.

Secondly, Financial service sector, In Ghana financial services is a big business. Operators in
the sector are grouped into three, the banking and finance comprising the universal
commercial banks, non-bank financial institutions and forex bureaus. And these financial
sectors use transaction processing which is a type of business information systems. Daily
transactions are the lifeblood of many financial business and transaction processing systems
allows the institutions to multiple ways to adjust, modify, store, collect, process and retrieve
transactions. They use this system to store information on the cloud storage databases, to
ensure that the information or transactions about the business is never lost. Data processed
through this system includes banking details, sales and inventory and other transactions
information.

In conclusion the importance of business information systems in business starts with increased
productivity and efficiency. It helps to ensure better record keeping, data safety, organization
and regulatory compliance. They allow these two sectors to monitor profitability, manage
inventory and products, respond to customer demands, improve financial management and
provide banks, partners, investors and key stakeholders with vital and timely information.

Again Business information system makes it simple to store operational data, revision
histories, communication records and documents and also eases the process of decision
making and simplifies the process of delivering the required information and hence assists in
taking better decisions instantly.