In a technologically driven economy, it is a must for every business to be in the know of information management systems. Knowledge has always been the core or power of every business entity; and so are skills and of course, technology. Computers are now the driving force of every organisation. you have to learn the tricks of the trade or get churned whole by the system. No one survives it. Everyone knows, for instance, that computers are great at listing receivables. But what about all the promises and all the speculations over the past few decades about the role of the computer in management?
Now, these technological applications are being developed and used in order to make businesses smarter and accurate; plus all the more amplified in terms of speed. This is meant to help the manager and not replace people in entirety. In other words, people in a growing number of organisations are using what are often called decision support systems to improve their managerial effectiveness.
There might be some problems along the way as we continuously improve technology. Every millisecond counts in this era. Some limitations too are predictable such as the following:
First, managers and computer users in many organisations are familiar with only a few of the types of systems now in use. As a result, different types of innovative systems have often been conceived and nurtured by internal or external “entrepreneurs,” not by the system users or their superiors.
Secondly, these entrepreneurs tend to concentrate on technical characteristics. Too often, this myopia means that they fail to anticipate the ways in which such systems can be used to increase the effectiveness of individuals in organisations.
Finally, highly innovative systems—the very ones’ management should find most useful—run a high risk of never being implemented, especially when the impetus for change comes from a source other than the potential user.
Yes, there are challenges and risks but there’s no stopping a business hungry for innovation and advancement.
There are different types of Information Management Systems:
- Retrieval Only System
This system allows people to submit daily reports on output as well as identification and profile of workers while the manager uses this information to boost operation and productivity. The information could record staff, operations, machines, and production dates; et cetera.
The Retrieval Only System can be used in many ways. They can monitor workflow, productivity, and be able to adjust and modify their systems to suit their company needs.
- Retrieval and Analysis System
Analysis and accumulation of information are easy, fast and accurate with this system in place. You can get up-to-date and clearly organised portfolio information in either graphic or tabular form for your business which keeps everything seamless and organised.
Depending on the situation, a manager can inspect both individual portfolios and groups of portfolios from different viewpoints—for example, rank them in different ways, obtain breakdowns by industry or risk level, and so on. With this kind of flexibility, manual analysis has definitely been replaced by a better system in the Retrieval and Analysis System.
- Multiple Databases and Analysis.
This system also boasts of great flexibility. Standard EDP functions were found to be lacking in adaptability and inflexible to produce ad hoc sales analysis reports in a timely and cost-effective manner for those in the companies’ marketing and planning areas. In each case, information extracted from the EDP systems is now maintained separately in order to have it handy and, in two instances, to be able to analyse it in conjunction with externally purchased proprietary databases and models.
Each system has its individual strengths and weaknesses. This then becomes a vehicle to help key people make the best decision for their business. The main thrust of each system is to identify the problem firsthand, merge the current system and expertise, and then develop the solution by way of an Information Management System that can generate the results you need for your brand.