Summary

Unit 5 Summary - OBS 124

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Course
OBS 124 (OBS124)

Institution
University Of Pretoria (UP)

This is a summary of the work covered within Unit 5 of the OBS 124 framework. This summary includes the use of technology to manage information, information technology and its benefits as well as its pros and cons and other IT terms

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Uploaded on December 7, 2022
Number of pages 3
Written in 2022/2023
Type Summary

business
mangement
business management
information
information technology

Institution
University of Pretoria (UP)
Course
OBS 124 (OBS124)

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1. Summary - Unit 6 summary - obs 124
2. Summary - Unit 5 summary - obs 124
3. Summary - Unit 4 summary - obs 124
4. Summary - Unit 3 summary - obs 124
5. Summary - Unit 2 summary - obs 124
6. Summary - Unit 1 summary - obs 124
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OBS 124

Unit 5: Using Technology to Manage Information
Evolution from Data processing to Business Intelligence
 In the 1970s, business technology was known as data processing
 Data processing: Included technology that supported an existing business and was primarily
used to improve the flow of financial information
 In the 1980s, business technology was just an addition to the existing way of doing business.
Business technology became known as information technology
 Information Technology: The set of methods or techniques for acquiring, organizing, storing,
manipulating, and transmitting information
 In the 1990s, the WWW, online services, and Bluetooth were introduced
 In the 2000s, as this technology became more sophisticated, it became known as business
intelligence or analytics
 Business Intelligence: The use of data analytic tools to analyse an organization’s raw data and
derive useful insights from them

Types of Information
 Business process information: This includes all transaction data gathered at the POS as well as
information gained through operations like ERP, SCM, and CRM systems
 Physical-world observations: These result from the use of RFID devices and other IoT devices
 Biological data: Forms of ID include improved fingerprinting technology and biometric devices
that scan retinas, recognize faces and voices, and analyse DNA
 Public Data: Free and accessible, public data include the electronic traces we leave when
posting to the internet, sending e-mails, and more
 Data that indicate personal preferences or intentions: Online shoppers leave a trail of
information that can reveal personal likes and dislikes

Managing Information
 The usefulness of management information depends on 4 characteristics:
o Quality
o Completeness
o Timeliness
o Relevance
 Data Analytics: The process of collecting, organising, storing, and analysing large sets of data in
order to identify patterns and other information that is most useful to the business now and for
making future decisions
 Data mining: A technique for looking for hidden patterns and previously unknown relationships
among the data

The Heart of Knowledge Management: The Internet
 Intranet: A companywide network, closed to public access, that uses Internet-type technology.
Can use a firewall to block intruders from entering.

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