In a small office standalone PCs are often used or linked together with special software which enables sharing of data and a printer.
In olden days the business faced high problems due to non-availability of accurate data which hampered the decision making process.
Information systems are used in all business domains. For example, finance uses information to forecast revenues and maximize investment, make selections on stocks and even predicts bankruptcies.
The information helps in generating reposts which aids in business decision making. Accounting uses information systems to record transactions, prepare financial statements, manage cash flow, or predict profit or loss.
The automated accounting procedures is based upon various interactive sub-systems which help in generating a consolidated set of information with individual break up of each information.
In marketing, information systems are used to develop new merchandise and services, target customer segments, determine the locations for production and distribution facilities (so that the cost can be reduced and more customers will be attracted), formulate price strategies (to maximize total profits), and even develop the promotion policies (so that advertising will be more efficient). It is a system used for managing marketing information that is gathered continually from internal and external sources.
In manufacturing, information systems are used to process customer orders, develop production schedules, design new products, and test the quality of products.
It also helps in reduction in cost due to minimal manpower requirement.
Businesses that use multiple computers often set up a computer network. The network allows them to share and exchange information. As a result, information retrieval can be efficient and available. Current Internet technology provides businesses with a variety of external business information.
Multimedia information transmissions (with text, graphics, image and video) are also available on the internet.
With the impact of the Internet, Intranet becomes another new technology popular to business. The internet can provide access to data across continents at low costs. Intranet is a small version of the Internet within one organization. It provides almost the same services as the Internet, but with better security and privacy.
Expert system play a major strategic role in helping the mangers effectively manage the change of business and the complexity of their operations. Expert systems will core-side with excellent traditional management information system already in operation, in the major function, of sales, engineering, manufacturing and field services.
A computer may be efficiently used in many processing operation that has one or more of the following characteristics: large volume of input, repetition of projects, desired greater speed in processing, greater accuracy and processing complexities that require electronic help.
Computer technologies for business
