Business Management Unit 5 Critical Thinking

Lessons Learned Summary: Write a 100-200 word summary that discusses the most significant points of this week’s topics that have given you greater awareness and insights into MIS. Comment on how it has impacted what you had previously thought and how it changed your understanding. Close with how you may think you might apply it in a given situation of your choice.

Unit Preview In this unit, we address the source and use of data for organizational decision-making. We’ll also look at the use of networks and mobile devices to implement those plans and processes resulting in the decisions. Chapter 6 introduces the concepts of data and information and their relative importance in business. The gathering of data and processing it into useful information is referred to as Business Intelligence. It’s important for business professionals to understand how to make data and information useful to support decision making. This chapter provides us with an overview of database fundamentals and the characteristics associated with high-quality information. Business professionals need to understand the differences between transactional data and summarized information. Understanding the complexity of storing data in databases and the level of effort required to transform operational data into meaningful, summarized information is important. This understanding enables the manager with power that information can give the and the ability to make smart, informed, and data-supported managerial decisions. We will also cover Chapter 7 which discusses the pace of technological change that never ceases to amaze. Applications that many are still learning in college courses are being used in many elementary schools. What used to take hours now takes seconds to transfer from one data location to another. Devices and systems are constantly increasing in capability and use in our societies. As a business manager, knowing the appropriate and efficient use of the tools of the business is important. Mobile devices and the support systems they function with will give you an understanding of the benefits and challenges for the business manager. The understanding of how businesses can leverage networking technologies to analyze network types, improve wireless and mobile business processes, and evaluate alternative networking options is becoming a common knowledge set needed for managers. This leads to better decision-making.

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