Benefits of Data Analysis and IT in Business Operations

Information system is an instrument for creating value.

Investments in information technology will not result in any returns for a business.

Business information value chain involves transforming raw data into useful information.

Middle management does not work directly with scientists and knowledge workers.

Organizational hierarchies consist of senior management, middle management, and operational management.

All business decisions rely solely on the World Wide Web for information.

Businesses can be seen as a collection of functional business processes.

Information technology can only enhance business processes by automating manual steps.

Manufacturing and production are examples of functional business processes.

Sales and marketing strategies are considered assets in a business.

Finance and accounting involve creating financial statements.

Human resources primarily focus on selling products and services.

Operational excellence solely depends on the improvement of efficiency to increase profitability.

New products, services, and business models are enabled by technology.

Customer and supplier intimacy do not impact revenues and profits in any way.

Information technologies are not considered a necessity for business survival.

The three activities of information systems are Input, Storage, and Output.

The functions of an information system do not include containing information about the organization and its environment.