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A business can make immediate use of the information from its operational support system to make its minuteby-minute or hour-by-hour decisions – e.g. when monitoring and controlling its activities. For a restaurant, although some of their products are freshly prepared, some products are cooked in batches or need time to defrost. If customer orders are recorded on an EPOS system, then an operational support system can alert the restaurant management as to when they need to cook or defrost more bulk products.0.OwO

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Information systems support decision making when a problem or issue arises and management needs to take action to resolve it. This is typically done on an ad hoc basis as problems arise. Management can take these decisions at various levels: operational, tactical or strategic. For example, the management of the restaurant chain might want to reduce costs. They might decide to do this by a reduction in the hours that some of their restaurants are open. They could decide when to close the restaurants by looking at information on sales and costs by hour of the day, by day of the week and by branch. They could open later or close earlier if sales less direct costs were low. This could be operational (for one branch), tactical (for a group of branches) or strategic (for a region or nationally).

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This is what a business will do if an internal or external event occurs, they will make a strategic decision that will positively affect the company. For example if a college is having an open day local businesses know lots of students will be coming, they also know that there will be more trade on that day so they can have special promotions or increase the number of staff in store on that day to maximise profits.

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Analysis data is used to identify trends and monitor the business. This could show how many people have join the bank as new customers within a year. This will help the bank increase the number of customers that they would have therefore increasing the amount of profit that they would get. An example of this would be a bank analyzing data that has been given to them to increase the amount of customer they would get within a year.

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How would the bank collect data to analyse?

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How would the bank collect data to analyse?

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Using customer surveys, this is one of the best ways to get information from the customer since banks may require you to put an email in to allow them to contact you. Another way for banks to get data to analyse is from their employees this can be made mandatory and allows for anonymous answers to get good information.

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Advantages of collecting data to analyse

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Advantages of collecting data to analyse

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Collecting data for analysis lets companies get raw information to deal with to get results about their company or products so they can then improve based on the feedback from the analysis.

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Disadvantages of collecting data to analyse

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Disadvantages of collecting data to analyse

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This makes them a greater target to attack since the bank is responsible for peoples money, so gaining information related to peoples account can put the bank at a greater risk if precautions are not taken. These precautions are expensive since additional security must be acquired.

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What can be used to improve data analysis?

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What can be used to improve data analysis?

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Online surveys:
This allows the bank to reach more of its customers since it can be answered at any time if the customer wants to and can be sent via email. This is also a very cheap way to gather data.

Databases:
These can be used to store the raw data before analysis, this allows it be prepared for analysis before it is processed and turned into information. This also provides a good format for it to be read as raw data.

Loyalty Cards:
These can be used to gather more information about the clients, some people are willing to forfeit their information in sake of a small discount or point rewards. This information can then be analysed and used to improve the company.