Benefits of Technologies in Business
it is an ongoing project , I Highlighted the first two topics in Module 3 doc . please use Module 3 doc to post your work. You will work on module 5 . I will upload module 3 in the additional materials section, 2 pages for each topic. In addition, I will upload Information System Research project document(read it first), please read it carefully and check the highlighted paragraphs. NO COPY PASTE, please.
(For a full list of changes refer to the new APA 7 Manual and for a short list of the most important changes you can view this YouTube Video. It takes about 5 minutes. For now, just follow this YouTube guideline. https://www.youtube.com/watch?v=zeSIXD6y3WQ)
Title of Paper
Student Name
TINFO 470
Spring 2020
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References (New page and no bold font)
Author, A. (Year, Month Day). Title of article. Journal or Website Title. Volume Number (if applicable). Retrieved from http://…
Author, B. (Year, Month Day). Title of article. Journal or Website Title. Volume Number (if applicable). Retrieved from http://…
Note that all lines after the first line of each entry in your Reference List should be indented one-half inch from the left margin, as illustrated in this sentence. This method of indentation is referred to as a ‘hanging indentation.’
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ANSWER
Benefits of Technologies in Business
TINFO 470
Introduction
Information Technology is very critical to businesses in the modern business environment. Many businesses rush to incorporate Information Technology facets in their processes to increase efficiency and boost returns. Cloud computing and Enterprise Data Warehouse (EDW) are important IT solutions that have been adopted by many businesses to enhance efficiency and boost profitability. Cloud computing provides room for business management using cloud rather than physical systems while Enterprise Data Warehouse supplies business with effective data systems for informed operations.
Cloud Computing
Cloud computing is a data storage, management, and processing site on a network of servers that are remotely hosted on the internet. Many businesses have adopted cloud computing because it offers enormous capacity, managed services, and a high-security guaranteed (Attaran, & Woods, 2019).
Hosting In The Cloud Saves Money
The key role of many companies is to minimize expenses and maximize returns. Cloud computing offers a good return on investment since businesses do not need to own hardware. Hosting is done on the provider’s servers saving the business the cost of running its own data center that would be way expensive. The availability of scalable resources means that redundant resources are eliminated hence saving the business finances. Payment is stationed on a pay as you term hence businesses are expected to pay for only what they need (Vasiljeva, Shaikhulina & Kreslins, 2017).
Strategic Competitive Advantage
The time for deployment in cloud computing is zero hence the time needed to keep essential applications online is massively reduced. This gives businesses a strategic advantage over companies that have not installed cloud systems. Cloud computing offers a solution for businesses that run critical operations that may be subject to downtimes (Attaran, & Woods, 2019). Cloud hosting enables companies to be at all times by eliminating any possibility of server failure and downtime. Clustered servers and virtual machines can be migrated to ensure continued uptime.
Increased Security and Flexibility
Cloud computing protects businesses from hacking, infection, and data theft. The technology sanctions stringent security regulations to protect client data. The use of firewall technology with intrusion prevention systems detect and isolate threats before they attack the servers. Since the technology is internet-based, employees can access job files and requirements at the comfort of their homes thus actualizing teleworking (El-Seoud, 2017). This feature has proved very essential during the COVID-19 pandemic. With many employees not allowed to crowd the physical workspace for protection against COVID-19, cloud computing has provided the best secure and reliable teleworking platform for business. With smartphones and laptops, staff can access the company system and complete tasks as required. Logical access authentication protocols are used for employee devices to allow them to access the company systems.
Environmental Friendly
In the age of business sustainability and corporate social responsibility, the business that reduces their carbon footprints and enacts environmental friendly policies attract more customers. Some customers specifically seek to know the carbon footprint of businesses before they can sign up as their customers. Cloud systems do not necessitate the ownership of data centers hence significantly reducing the carbon footprint. The energy sued to run cloud systems is significantly lower than t that needed in running onsite systems. Energy conservation is a sustainability requirement that many businesses require today. Companies are not compelled to purchase hardware devices that consume many materials in processing. This provides an effective sustainability model that benefits both communities and businesses (Attaran, & Woods, 2019).
Enterprise Data Warehouse (EDW)
An enterprise data warehouse (EDW) is a database or collection of databases centralizing company information from many sources and applications and making it accessible for organizational analysis is and use. EDW provides various benefits to businesses (Darma, Utami & Aryani, 2019).
Enhanced Business Intelligence
Accessing information from many sources in a single platform ensures that those who make decisions do not rely on limited data or even their instinct. Since data is the most valuable resource for most businesses in the age of technology, managers need the finest and most relevant data to decide what direction their company is supposed to take. Also, data warehouses are readily available in business processes like marketing segmentation, risk analysis, inventory, sales, and financial management. Companies can make the best decision on such pertinent issues with the iid of accurate data (Darma, Utami & Aryani, 2019).
Time-Saving
EDW standardizes, preserves, and stores data from various sources hence coordinating the consolidation and integration of all data. The availability of critical data to all users gives them a chance to make accurate and informed decisions on key company aspects. Executives are equipped to query the data and find important facets without the compulsory assistance from IT support. This ease of access saves the company time and money hence increasing its profitability (Kachaoui & Belangour, 2019).
Enhanced Data Quality and Consistency
A data warehouse is equipped to convert multiple sources into a consistent format. The standardization of the data sent across the organization ensures that each department produces consistent results. Accurate data is needed for making solid decisions that can stand the test of the highly competitive business environment. Most successful companies in the 21st century have invested in data. These companies have ensured that data is held in large banks in company servers. These companies like Amazon have invested in data quality and consistency to ensure all business decisions lead to profitability. Companies that invest in EDW realize higher revenues and savings on cost than those that do not have the systems in place (El Bousty et al., 2018).
Flawless Decision-Making Process
Data warehousing gives companies better insights that can be sued to make effective decisions. Data is converted into important information that can be used by decision-makers to perform more functional and reliable reports (Kachaoui & Belangour, 2019). A cohesion of data from current and historical pools are analyzed and combined to provide the company with the potential of forecasting the future with confidence. Streamlining the flow of information ensures that companies have the best network that deciphers related and unrelated parties (Kachaoui & Belangour, 2019).
Conclusion
Cloud computing provides many benefits to businesses. The technology is cost-effective, saves money for businesses, highly reliable, offers scalability, flexibility, performance, and security and agility benefits that companies desperately need to succeed. The use of IT systems to improve business performance and profitability can be affected by the adoption of cloud computing. On the other hand, EDW provides enhanced business intelligence, saves time, enhances data quality and consistency, improves the ease of making decisions, and equips companies to forecast with confidence.
References
Attaran, M., & Woods, J. (2019). Cloud computing technology: improving small business performance using the Internet. Journal of Small Business & Entrepreneurship, 31(6), 495-519.
Darma, I. G. W., Utami, K. S., & Aryani, N. W. S. (2019). Data Warehouse Analysis to Support UMKM Decisions using the Nine-step Kimball Method. International Journal of Engineering and Emerging Technology, 4(1), 65-68.
El Bousty, H., Krit, S. D., Elasikri, M., Dani, H., Karimi, K., Bendaoud, K., & Kabrane, M. (2018, June). Investigating business intelligence in the era of big data: Concepts, benefits, and challenges. In Proceedings of the Fourth International Conference on Engineering & MIS 2018 (pp. 1-9).
El-Seoud, S. A., El-Sofany, H. F., Abdelfattah, M., & Mohamed, R. (2017). Big Data and Cloud Computing: Trends and Challenges. International Journal of Interactive Mobile Technologies, 11(2).
Kachaoui, J., & Belangour, A. (2019, March). Challenges and Benefits of Deploying Big Data Storage Solution. In Proceedings of the New Challenges in Data Sciences: Acts of the Second Conference of the Moroccan Classification Society (pp. 1-5).
Vasiljeva, T., Shaikhulina, S., & Kreslins, K. (2017). Cloud computing: business perspectives, benefits, and challenges for small and medium enterprises (case of Latvia). Procedia Engineering, 178, 443-451.
