Financial information system ppt presentation

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Published Date:22-07-2017
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Information System 1Definition Data • Raw facts such as an employee’s name and number of hours worked in a week, inventory part numbers or sales orders. Information • A collection of facts organized in such a way that they have additional value beyond the value of the facts themselves. 2Data Vs Information Data Information 35,000 12 Units Salesperson: J. Jones Sales 12,000 J. Jones Western Territory: Western Region Data Processing Region 100,000 100 Current Sales: Units 35 Units 147 Units = 147,000 3Information System • Information System is the study of complementary networks of hardware and software that people and organizations use to collect, filter, process, create, and distribute data. • The IS’s designer is concerned with how to use computer systems effectively in producing data for the right person at the right time. 4Definition Information Systems • An information system is typically considered to be a set of interrelated elements or components that collect(input), manipulate(processes), and disseminate (output) data and information and provide a feedback mechanism to meet an objective. – Open System – Close System 5Information System 6Computer-based Information System An Information System is an organized combination of people, hardware, software, communication networks and the data resources that collects, transforms and disseminates information in a organization. 7IS Vs IT Payroll System INFORMATION Inventory TECHNOLOGY System Hardware are used to build Software INFORMATION Databases SYSTEMS Networks Marketing Other related System components Customer Service System 8Expanding Roles of IS 1. Data Processing: 1950s-1960s 2. Management Reporting: 1960s-1970s 3. Decision support: 1970s-1980s 4. Strategic and End User Support: 1980s-1990s 5. Global Internetworking: 1990s-2000s 9Data Processing: 1950s-1960s The first business application of computers (in the mid- 1950s) performed repetitive, high- volume, transaction-computing tasks. The computers "crunched numbers” summarizing and organizing transactions and data in the accounting, finance, and human resources areas. Such systems are generally called transaction processing systems (TPSs) 10Management Reporting: 1960s-1970s Management Information Systems (MISs): these systems access, organize, summarize and display information for supporting routine decision making in the functional areas. Office Automation Systems( OASs): such as word processing systems were developed to support office and clerical workers. 11Decision support: 1970s-1980s Decision Support Systems: were developed to provide computer based support for complex, non-routine decision. 12Strategic and End User Support: 1980s-1990s • The use or development of information systems by the principal users of the systems’ outputs, such as analysts, managers, and other professionals. • Intelligent Support System (ISSs): Include expert systems which provide the stored knowledge of experts to non-experts, and a new type of intelligent system with machine- learning capabilities that can learn from historical cases. • „ Knowledge Management Systems: Support the creating, gathering, organizing, integrating and disseminating of organizational knowledge. 13Global Internetworking: 1990s-2000s • „ Mobile Computing: Information systems that support employees who are working with customers or business partners outside the physical boundaries of their company; can be done over wire or wireless networks. 14Classification of IS Information Systems Operations Support Management Support System System Transaction Process Office Decision Executive Management processing automation support information information Control systems systems systems systems systems systems 151. Operations support systems process data generated by business operations Major categories are: i) Transaction processing systems ii) Process control systems iii) Office automation systems 2. Management Support Systems provide information and support needed for effective decision making by managers Major categories are: i) Management Information System ii) Decision Support Systems iii) Executive Information System 161. Operations Support System i) Transaction processing systems • Process business exchanges • Maintain records about the exchanges • Handle routine, yet critical, tasks • Perform simple calculations ii) Process control systems monitor and control industrial processes. iii) Office automation systems automate office procedures and enhance office communications and productivity. 172. Management support systems provide information and support needed for effective decision making by managers Major categories are: i) Management information systems • Routine information for routine decisions • Operational efficiency • Use transaction data as main input • Databases integrate MIS in different functional areas 18ii) Decision Support System • Interactive support for non-routine decisions or problem • End-users are more involved in creating a DSS than an MIS iii) Executive information systems provide critical information tailored to the information needs of executives 19Functional Aspects MIS is an integrated collection of functional information systems, each supporting particular functional areas. 20