300 word reply
Data is statistics and facts that are collected together for analyzing or reference (UMGC, n.d.). When it comes down to retail business, data can be used to help companies and people make decisions depending on what level they are when it comes down to the decision making. The three levels are operational, managerial, and strategic. The best thing about this tool is that it can help support and improve the decision making throughout the whole organization. How it is only a tool and is not built to take/replace the human factor; everyone is still required to make a decision (UMGC, n.d.).
The senior or sometimes known as the executive level of a company tend to more concerned about strategy rather than what happens in middle management or patterns. Let us say for example the price for the type of material for the companies good is rising and it seems to continue to rise. The management on senior or executive level would need to make a decision on if they should increase the price on the good as a whole. In order to consider this decision, they need to figure out how much of the market can bear, or whether they need to switch to a different alternative, and also if the alternative would not degrade the current good (UMGC, n.d.).
Pretty much the level of strategic overlooks information relating to sales figures. The main area this level focuses on is the increase amount in the market share. The types decision they would make is deciding whether they would need to discontinue a good that is under performing. The IT system can help develop a report of products sale volumes is not meeting the projected volume (UMGC, n.d.).
UMGC. (n.d.). How information supports decision making. Retrieved from https://learn.umuc.edu/d2l/le/content/445319/viewC…
UMGC. (n.d.). Data. Retrieved from https://learn.umuc.edu/d2l/le/content/445319/viewC…
Using IT for Decision Making
First, read Week 2 Content on Data and How Information Supports Decision Making, paying particular attention to the Levels of Decision Making. For purposes of this discussion, we will use a retail business as an example. This retail business is comprised of the corporate headquarters, regions (oversees several stores in a geographic area) and individual stores. Each of these aligns to one of the three levels of decision makers in an organization.
Main Postings: Select one of the levels of decision makingand identify one decision that a manager at that level might make. The decision must relate to the retail business and what it does. Then, explain what information a manager at that level might get from the IT systems (such as inventory management or customer information system) to aid in making that decision.
Example: Managerial Level: The Regional Director makes a decision to shift inventory that is not selling in one store to another store where sales in those items are high. To support this decision, the Regional Director would need information on sales of specific products by store.
Remember â€“ the Group 2 initial posting is due by Wednesday midnight; it should be about two short paragraphs in length, supported by external research, and it should be posted by clicking on “Start a New Thread”. Please look at what has been posted by your classmates before choosing your examples and then select something that has not yet been discussed, if possible. Letâ€™s try to spread the discussion across as many examples as possible.
Then members of Groups 1, 3 and 4 should reply to at least three different postings by other classmates before Sunday midnight. Responses to initial postings should be specific and assess whether posting accurately and sufficiently addresses the questions asked in the discussion topic and should incorporate relevant research correctly. Explain your assessment as to why the information is or is not correct and/or complete, providing correct information to enhance the discussion.
Members of Group 2 should read the responses and reply to a minimum of two responses, reacting to the response and furthering the discussion.
All students have a responsibility to check back and see if any questions have been posed to them and to respond as you would in a classroom setting. Use the Grading Rubric posted in the Discussion area to ensure your posting meets the expectations.