Business Information Management
questions with answers.
Role of business information management ANS - Besides helping information to become an asset in
decision making, business information management improves business functions and their operations.
These functions include sales, marketing, finance, and others. Organizations, therefore, invest in
information technology (IT) to manage information systematically. The application of IT enables
organizations to improve productivity and generate higher revenue. The key principles of business
information management include managing complexity and risks, prioritizing needs, and delivering
benefits.
The role of business information management can be summed up as follows:
It helps managers analyze business needs. These business needs are based on organizational goals,
business strategies, stakeholders' needs, and business processes.
It helps managers analyze problems and implement possible business solutions.
It automates tasks that enable managers to identify information requirements that are appropriate for
different management levels. For example, the information required by senior managers for developing
strategies differs from the information required to run business operations by middle-level managers.
Business Information Management ANS - is the concept of managing and using information for
business success. Consider an example. You see different types of vehicles everyday. Typically, if you're
an automobile manufacturer, you'll collect information about different types of customers and their
preferences. You'll analyze this information to decide the kind of features customers would prefer for
each type of vehicle. This process of arriving at a decision by utilizing information is known as Business
Information Management.
Today, business organizations face more intense competition than they have in the past. They need to
generate and use information effectively to counter the pressure of competition. Information is an asset
when you store and analyze it effectively to make appropriate decisions. However, it can become a
liability if you don't manage it efficiently. Such information can lead you to wrong decisions.
questions with answers.
Role of business information management ANS - Besides helping information to become an asset in
decision making, business information management improves business functions and their operations.
These functions include sales, marketing, finance, and others. Organizations, therefore, invest in
information technology (IT) to manage information systematically. The application of IT enables
organizations to improve productivity and generate higher revenue. The key principles of business
information management include managing complexity and risks, prioritizing needs, and delivering
benefits.
The role of business information management can be summed up as follows:
It helps managers analyze business needs. These business needs are based on organizational goals,
business strategies, stakeholders' needs, and business processes.
It helps managers analyze problems and implement possible business solutions.
It automates tasks that enable managers to identify information requirements that are appropriate for
different management levels. For example, the information required by senior managers for developing
strategies differs from the information required to run business operations by middle-level managers.
Business Information Management ANS - is the concept of managing and using information for
business success. Consider an example. You see different types of vehicles everyday. Typically, if you're
an automobile manufacturer, you'll collect information about different types of customers and their
preferences. You'll analyze this information to decide the kind of features customers would prefer for
each type of vehicle. This process of arriving at a decision by utilizing information is known as Business
Information Management.
Today, business organizations face more intense competition than they have in the past. They need to
generate and use information effectively to counter the pressure of competition. Information is an asset
when you store and analyze it effectively to make appropriate decisions. However, it can become a
liability if you don't manage it efficiently. Such information can lead you to wrong decisions.
