Management Information System Finals Reviewer Traditional File Processing
Lesson 6: Foundations of Business Intelligence: • The use of a traditional approach to file
Databases and Information Management processing encourages each functional area in a corporation to develop specialized applications. Each application requires a unique data file that is likely to be a subset of the master file. These subsets of the master file lead to data redundancy and inconsistency, processing inflexibility, and wasted storage resources
What are the problems of managing data resources in
a traditional file environment? • An effective information system provides users Data Redundancy and Inconsistency with accurate, timely, and relevant information. Accurate information is free of errors. • Data redundancy is the presence of duplicate Information is timely when it is available to data in multiple data files so that the same data decision makers when it is needed. Information is are stored in more than one place or location. Data relevant when it is useful and appropriate for the redundancy occurs when different groups in an types of work and decisions that require it. organization independently collect the same piece File Organizations Terms and Concepts of data and store it independently of each other. • Data redundancy wastes storage resources and • A computer system organizes data in a hierarchy also leads to data inconsistency, where the same that starts with bits and bytes and progresses to attribute may have different values. fields, records, files, and databases. • For example, in instances of the entity COURSE • A bit represents the smallest unit of data a illustrated in Figure 6.1, the Date may be updated computer can handle. in some systems but not in others. The same • A group of bits, called a byte, represents a single attribute, Student_ID, might also have different character, which can be a letter, a number, or names in different systems throughout the another symbol. organization. Some systems might use • A grouping of characters into a word, a group of Student_ID and others might use ID, for example. words, or a complete number (such as a person’s Program-Data Dependence name or age) is called a field. • A group of related fields, such as the student’s • Program-data dependence refers to the name, the course taken, the date, and the grade, coupling of data stored in files and the specific comprises a record; a group of records of the programs required to update and maintain those same type is called a file. files such that changes in programs require changes to the data. Every traditional computer program has to describe the location and nature of the data with which it works. In a traditional file environment, any change in a software program could require a change in the data accessed by that program. One program might be modified from a five-digit to a nine-digit ZIP code. If the original data file were changed from five-digit to nine-digit ZIP codes, then other programs that required the five-digit ZIP code would no longer work properly. Such changes could cost millions of dollars to implement properly. Lack of Flexibility Human Resources Database with Multiple Views • A traditional file system can deliver routine • A single human resources database provides scheduled reports after extensive programming many different views of data, depending on the efforts, but it cannot deliver ad hoc reports or information requirements of the user. Illustrated respond to unanticipated information here are two possible views, one of interest to a requirements in a timely fashion. The information benefits specialist and one of interest to a member required by ad hoc requests is somewhere in the of the company's payroll department. system but may be too expensive to retrieve. Several programmers might have to work for weeks to put together the required data items in a new file. Poor Security • Because there is little control or management of data, access to and dissemination of information may be out of control. Management might have no way of knowing who is accessing or even making changes to the organization’s data. Lack of Data Sharing and Availability Database Management Systems • Because pieces of information in different files • A database management system (DBMS) is and different parts of the organization cannot be software that enables an organization to centralize related to one another, it is virtually impossible data, manage them efficiently, and provide access for information to be shared or accessed in a to the stored data by application programs. The timely manner. Information cannot flow freely DBMS acts as an interface between application across different functional areas or different parts programs and the physical data files. When the of the organization. If users find different values application program calls for a data item, such as for the same piece of information in two different gross pay, the DBMS finds this item in the systems, they may not want to use these systems database and presents it to the application because they cannot trust the accuracy of their program. Using traditional data files, the data. programmer would have to specify the size and format of each data element used in the program What are the major capabilities of database and then tell the computer where they were management systems (DBMS), and why is a relational located. DBMS so powerful? How a DBMS Solves the Problems of the Traditional • Database technology cuts through many of the File Environment problems of traditional file organization. A more rigorous definition of a database is a collection of • A DBMS reduces data redundancy and data organized to serve many applications inconsistency by minimizing isolated files in efficiently by centralizing the data and controlling which the same data are repeated. The DBMS redundant data. Rather than storing data in may not enable the organization to eliminate data separate files for each application, data appear to redundancy entirely, but it can help control users as being stored in only one location. A redundancy. Even if the organization maintains single database services multiple applications. some redundant data, using a DBMS eliminates For example, instead of a corporation storing data inconsistency because the DBMS can help employee data in separate information systems the organization ensure that every occurrence of and separate files for personnel, payroll, and redundant data has the same values. The DBMS benefits, the corporation could create a single uncouples programs and data, enabling data to common human resources database (see Figure stand on their own. 6.3). Lesson 7: Dashboard Analytics Ensuring Responsiveness Dashboard Analytics • Design dashboards that are responsive to different devices (desktop, tablet, mobile). • Dashboard analytics is the art and science of transforming raw data into meaningful insights • Test the dashboard on various screen sizes to through visual representation. Dashboards help in ensure a seamless experience. monitoring key performance indicators (KPIs), Lesson 8: Evaluating MIS Software and Providers tracking trends, and making data-driven decisions. Introduction Understanding your Audience 1. Selecting the right Management Information System (MIS) software is crucial for any • Identify who will be using the dashboard. organization. It can significantly impact • Tailor your visuals and insights to meet the operational efficiency, decision-making specific needs of your audience. capabilities, and overall success. However, with Selecting Key Metrics numerous software options and providers available, choosing the most suitable one can be • Determine the critical metrics that align with your overwhelming. This handout will equip you with business goals. the knowledge and tools to evaluate MIS software • Focus on a few key metrics rather than overwhelming the dashboard with too much and providers effectively. information. Key Criteria for Evaluating MIS Software Choosing the Right Visualizations 1. Functionality: Does the software offer the • Match the type of visualization to the nature of features and modules needed to meet your your data (e.g., bar charts, line graphs, pie charts). specific business requirements? 2. Usability: Is the interface user- friendly and • Use color strategically to highlight important intuitive for both technical and non- technical information and trends. users? Ensuring Data Accuracy 3. Scalability: Can the software accommodate future growth and changes in your business • Double-check your data sources and ensure data needs? integrity. 4. Integration: Can the software integrate • Implement validation processes to catch errors seamlessly with your existing systems and early on. applications? 5. Security: Does the software meet your security Creating a User-Friendly Layout requirements and protect sensitive data • Organize your dashboard logically for easy 6. Support: Does the provider offer comprehensive navigation. support services, including training, • Prioritize information based on its importance. troubleshooting, and maintenance? 7. Cost: Is the software within. your budget, and Implementing Interactivity does it offer a good return on investment?
• Include interactive elements like filters and drill-
down options. • Allow users to customize their view for a more personalized experience. Telling a Story with Data • Arrange your visuals to tell a coherent and compelling story. • Provide context and background information to guide users through the data. Evaluation Methods o Weakness: Can be subjective and may not reflect the overall organizational 1. Vendor Evaluation: needs o Research the vendor's reputation, experience, and customer Developing an Evaluation Plan satisfaction ratings. o Request information about the vendor's 1. Define your business requirements and objectives development roadmap, support for implementing an MIS system. services, and pricing models. 2. Determine your budget and timeline for the o Schedule a demo to see the software in evaluation process. action and ask questions directly to the 3. Identify the stakeholders involved in the vendor. evaluation and decision-making process. 2. Software Evaluation: 4. Select the most appropriate evaluation methods o Analyze the software's features and based on your needs and resources. functionalities in detail. 5. Develop a scoring system to compare different o Test the software's usability and software options. performance on your own systems. 6. Document your findings and recommendations o Compare different software options for the final decision using a weighted scoring system. Lesson 9: Management Information Systems (MIS) in 3. Benchmarking: Specialized Industries o Compare the software's performance and capabilities against industry standards Deep Dive into Industry-Specific Applications: and best practices. Healthcare: o Identify areas where the software excels or falls short compared to its competitors. • Electronic Health Records (EHRs): Secure 4. User Input: storage and access to patient data, streamlining o Gather feedback from potential users diagnoses, treatment plans, and communication. about their needs and preferences. • Telemedicine: Virtual consultations improve o Involve key stakeholders in the patient access to care, especially in remote areas. evaluation process to ensure buy-in and • Medical Decision Support Systems adoption. (MDSS): Data-driven insights assist healthcare professionals in diagnosis and treatment Strengths and Weaknesses of Different Evaluation decisions. Methods: • Precision Medicine: Personalized medicine 1. Vendor Evaluation based on individual genetic and biological data. o Strength: Provides insight into the vendor's commitment and support Finance: o Weakness: Can be influenced by sales • Trading Platforms: Real-time financial data tactics and bias analysis drives informed investment decisions. 2. Software Evaluation • Fraud Detection and Prevention: Advanced o Strength: Allows for hands-on algorithms identify and mitigate financial crimes. experience and detailed assessment • Risk Management: Data-driven models assess o Weakness: Time-consuming and may not and manage financial risks for insurance reflect real-world conditions companies and banks. 3. Benchmarking • Blockchain Technology: Secure and transparent o Strength: Provides objective comparison financial transactions in areas like cryptocurrency with industry standards and crowdfunding. o Weakness: May not be relevant to your specific needs and industry 4. User Input o Strength: Addresses user needs and preferences directly Learning Management Systems (LMS) Lesson 10: Future Trends in Management Information Systems: Embracing the Dawn of • Online platforms for course delivery, Intelligent Business assessments, and student engagement Introduction Adaptive Learning • As the world of information technology continues • Al-powered platforms personalize learning paths to evolve, management information systems based on individual progress. (MIS) play a crucial role in shaping the future of businesses and technology. This lesson will Virtual Reality (VR) and Augmented Reality (AR) explore the emerging trends in MIS, the impact of AI, automation, and machine learning, and the • Immersive learning experiences enhance evolving role of the Chief Information Officer knowledge retention and engagement. (CIO) and IT professionals. We will also discuss Data Analytics for Educational Insights the importance of lifelong learning in the field of MIS and reflect on the future relevance of these • Track student performance, identify systems in the business world. improvement areas, and personalize learning Emerging Trends in MIS approaches. • Artificial Intelligence Advancements: AI is Navigating the Regulatory Landscape making significant contributions in various Each industry has specific regulations and compliance industries, including the management of requirements for MIS practices. You'll explore: information systems. AI can be implemented using various techniques, such as rule-based • HIPAA (Healthcare): Protects patient data systems, expert systems, and machine learning, to privacy and security. automate repetitive or routine tasks and • FINRA (Finance): Regulates financial streamline workflows. professionals and firms. • Cloud Computing: Cloud computing is • FERPA (Education): Protects student privacy in rebounding and continues to be an area in which educational data. organizations are making significant investments. It offers a convenient option for data storage and Understanding these regulations is crucial for allows businesses to determine levels of access implementing compliant MIS solutions. for their team members, providing employees MIS fosters efficiency and effectiveness in every with appropriate levels of access to do their jobs sector: no matter where they are • Healthcare: Improved patient care • Big Data: The term "big data" refers to data that coordination, reduced medical errors, and is so large, fast, or complex that it's difficult or optimized resource allocation. impossible to process using traditional methods. • Finance: Faster transactions, streamlined IT professionals build sophisticated tools, often financial processes, and better risk management. using artificial intelligence, to examine and • Education: Personalized learning, improved analyze big data learning outcomes, and increased student • Virtual and Augmented Reality: These engagement. technologies have applications in many industries, including MIS. They can be used to Career Opportunities Await: create immersive environments for training, • Healthcare IT: Develop and implement healthcare collaboration, and decision-making IT solutions, manage EHRs, and analyze medical data. • FinTech: Design and manage financial applications, build trading platforms, and analyze financial data. • EdTech: Develop educational software, manage LMS platforms, and analyze educational data. Impact of AI, Automation, and Machine Learning on MIS • Data Quality: AI and machine learning algorithms can be used to automatically classify and categorize data, identify patterns and anomalies, and generate reports in real-time. This can help organizations scale their MIS systems without adding additional staff or increasing the workload on existing staff. • Automation: AI and machine learning can automate repetitive or routine tasks, such as data entry, reporting, and scheduling, and free up time for more complex or creative tasks • Streamlined Workflows: AI and machine learning can integrate data from different systems, platforms, and devices, providing a single source of truth and facilitating collaboration among maintenance staff, managers, and stakeholders. Evolving Role of the CIO and IT Professionals
• Strategic Partnership: CIOs are increasingly
expected to be strategic partners to other C-suite executives, aligning the plans and operations of the information systems with the strategic goals of the organization. • Tech-Savvy Leadership: As new technologies emerge and digital transformation accelerates, CIOs have had to develop skills that go beyond traditional technology management, such as data analytics, cloud computing, and artificial intelligence. • Lifelong Learning: The rapid pace of technological advancements requires IT professionals to continuously update their skills and knowledge to stay relevant in the field of MIS Conclusion
• As we look to the future of business and
technology, the role of management information systems will continue to evolve and adapt to new trends and technologies. The integration of AI, automation, and machine learning in MIS will lead to improved decision-making, streamlined processes, and enhanced collaboration. The CIO and IT professionals must remain committed to lifelong learning and stay ahead of the curve to ensure the success of their organizations in the digital age.
THE STEP BY STEP GUIDE FOR SUCCESSFUL IMPLEMENTATION OF DATA LAKE-LAKEHOUSE-DATA WAREHOUSE: "THE STEP BY STEP GUIDE FOR SUCCESSFUL IMPLEMENTATION OF DATA LAKE-LAKEHOUSE-DATA WAREHOUSE"