Business and Finance Information Systems

Business and Finance 2024/2025 Information Systems

• Course taught by Professor Francesco Tornieri
• Topics include Definitions, Information Systems, and Professional Roles

Agenda

• Definitions
• Information systems
• Professional roles

Definitions

• Computer/Electronic Device: A device used for data and signal processing. (Treccani)

The Computer: Purpose

• Computers process data and transform it into useful information.
• Aim is to speed up problem-solving and improve productivity.

Computer Science

• Studies information processing and its applications, focusing on computer representation, organization, and automated processing of information.
• Term "informatics" originates from the French word "informatique."
• Coined by P. Dreyfus in 1962. (Treccani)

Definition of Information System and Components

• Combination of people, devices/applications (hardware, software, communication networks), processes, data, and information.
• Enables a company to have necessary information at the right time and in the right place.
• Purpose is to meet information needs by providing each decision-making center with the necessary information to operate.

Data and Information

• Data: Numerical or symbolic representation of a measurement, characteristic of an event, object, or phenomenon (e.g., price=202.85; stock=APPLE; time=11.24).
• Information: Data with meaning, associated with specific content (e.g., the market price of ENI stock was 202.85 at 11:24).
• Information systems process data into information needed by users.

Information Systems Infrastructure

• Hardware: Tangible computer components.
• Software: Programs/instructions that enable computers to perform functions for processing data.
• Communication Networks: Connections between devices via a transmission medium to enable data transmission.

Companies and Information Systems

• Reasons for investment in information systems: achieving strategic business goals, gaining a competitive edge, and increasing efficiency.

Information Technology (IT)

• IT department manages information processing and distribution to all organizational units.
• Ensures necessary information for achieving business goals.
• ICT application for making business processes more efficient and effective thru automated information systems.

Who is Responsible for Information Systems?

• IT department has an executive and proactive role.
• Other business units (BUs) are the IT department's customers

The IT Budget

• Two options for managing the IT budget
  • Management allocates the budget to each department, and each BU defines and allocates projects to IT.
  • IT manages the budget centrally to maximize efficiency.

Make or Buy?

• Each IT project requires a "make or buy" decision.
• The "Could Era" offers more options for external resources.

Software Applications

• Make: Development with internal resources, a combination of internal and external resources, or development using outside resources based on internal specifications.
• Buy: Purchasing an existing application without customization or purchasing an application with customization, or acquiring application rights.
• Hardware/software can be bought or rented, including devices (mainframe, server farm, cloud), proprietary/commercial software (licensed/pay-per-use), and outsourcing/software as a service.

The Information Systems Function and New Digital Skills

• Definitions
• Companies and Information Systems
• Professional roles

Professional Roles

• Data Scientist
• E-commerce specialist
• Cybersecurity Expert
• Social Media Manager
• Community Manager
• Web content specialist
• Web Designer
• Web Marketing Manager
• Mobile Developer