mics assignment
TRANSCRIPT
-
8/8/2019 MICS Assignment
1/19
By : Ridhima Bhatt(09609037)
Akhil Laroiya (09609107)Riki Jain (09609149)
9/28/2010 The Business Case for Information Management 1
-
8/8/2019 MICS Assignment
2/19
Just like every other asset in the organization, be it
capital, labour, materials, or facilities, information
needs to be managed. Without reliable and timely information there is no
way to sustain in a business
The business case is found in how information
management supports the business, like with anyother asset
9/28/2010 The Business Case for Information Management 2
-
8/8/2019 MICS Assignment
3/19
Information management :
All processes and technologies that help create high
quality information, where all elements are clearlydefined and can be combined with each other in a
meaningful way, in order to support the management
processes.
9/28/2010 The Business Case for Information Management 3
-
8/8/2019 MICS Assignment
4/19
Data quality to create high quality information
Metadata management to clearly define all elements Master data management to be able to combine
information from differentdomains and sources on all levels of aggregationthrough a common set of
hierarchies Data integration to bring the data together (physical
or virtual) for allmanagement processes to use
9/28/2010 The Business Case for Information Management 4
-
8/8/2019 MICS Assignment
5/19
It covers all processes and technologies to make sure all
relevant information is complete and correct.
Data quality management needs to be:
Preventive, having processes and systems that do not
allow any data capture mistakes;
Detective, to check if this is the case, as one may not
have control over all necessary data; and Corrective, to make sure problems with data quality
are solved
9/28/2010 The Business Case for Information Management 5
-
8/8/2019 MICS Assignment
6/19
Metadata management consists of all processes and
technologies aimed at creating the single version of
the truth for the definitions of all relevant businessentities.
For metadata management, an organization requires a
repository, to be used by all management processes,
in which the definitions are stored, harmonized, andefficiently be maintained over time.
9/28/2010 The Business Case for Information Management 6
-
8/8/2019 MICS Assignment
7/19
The consistent and uniform set of identifiers and
extended attributes that describe the core entities of
the enterpriseand are used across multiple businessprocesses.
Examples
departments or cost centers, customers, products, a
central time table, accounts(in short, every list of things needed to do business)
9/28/2010 The Business Case for Information Management 7
-
8/8/2019 MICS Assignment
8/19
Data integration consists of a wide variety of
techniques to enable companies to access, integrate,
transform, and move any type of data between a
source and a target system, in any frequency, and inany format, thereby eliminating data fragmentation
across the enterprise.
9/28/2010 The Business Case for Information Management 8
-
8/8/2019 MICS Assignment
9/19
-
8/8/2019 MICS Assignment
10/19
Information used changes whenever
there is a change within the business
Making changes in multitude of systems
involves manual processing
Managers and Analysts prepare newreports( Excel based), which contains no
checks on quality and completeness of
data involved9/28/2010 The Business Case for Information Management 10
-
8/8/2019 MICS Assignment
11/19
Issues:
y Senior Management: Spends time on comparing differentreports having different views on business
yKnowledge workers: Spend valuable time on creatingreports and reworking in case of errors
y Operational Managers: Repetition of information
Solution:Single management system, with a central repository formetadata and master data, creates a more reliable processand contributes to savings
Tactical benefit:Saving costs in management processes is a tactical benefit,
it does not improve the business itself9/28/2010 The Business Case for Information Management 11
-
8/8/2019 MICS Assignment
12/19
Advantages of closing the books faster:
y Create earlier feedback to senior management
y Gives controllers more time to analyze
y Allows organization to file external reports earlier
y Reporting fast recognized as parameter of control and competence, by analysts andshareholders
Need for Single version of truth:
40% or more of time spent on closing the books is spent on manualreconciliation between various administrations. Data is not comparable becauseof:y Differences in chart of accounts, different views on organizational hierarchyy Terms used in the various data streams often have slightly different definitions
y Data elements are missing or not correct and need to be manually fixed
Solution:Single management system is used to eliminate manual steps and reduce timeneeded to close books
Strategic benefit:More accurate and timely numbers can be reported with confidence
9/28/2010 The Business Case for Information Management 12
-
8/8/2019 MICS Assignment
13/19
EIM( Enterprise Information Management):
y Allows various systems to interchangedata in a real-time fashion.
y EIM changes the role of the data
warehouse, making it part of a closedloop architecture.
y Data warehouse not only receivesinformation from various sources tointegrate and enrich it for the purposes ofmanagement information, but also, on the
granular level, it feeds data back to thevarious source systems to offer, for example, an integrated customer view.
y Data can only freely flow betweensystems if they share the same definitionand the same master data.
9/28/2010 The Business Case for Information Management 13
-
8/8/2019 MICS Assignment
14/19
` SOA-Creating an EIM( enterprise informationmanagement) which is a tightly integrated butloosely coupled portfolio of systems is enabled bya service-oriented architecture(SOA).
A component based approach to systemsarchitecture requires a separation of process anddata
The business case for such an IT architecture lies inflexibility (being able to perform multiple tasks)and agility(being able to change those tasks).
9/28/2010 The Business Case for Information Management 14
-
8/8/2019 MICS Assignment
15/19
Mass Customization through a standard mass
production process, many different product
configurations can be manufactured, to create highlytailored products. It combines the best of both worlds
of mass and bespoke production.
In many cases customization is driven by the
customer, who configures the product or service himor herself. The organization is moving from process
driven to customer driven
9/28/2010 The Business Case for Information Management 15
-
8/8/2019 MICS Assignment
16/19
Business and IT alignment-IT is responsible for
providing a centralized framework for metadata,
master data and data quality management.
It tracks the audit trail on all changes, and makes
sure there are no compliance issues with imposed
regulations and makes sure that there is a single
version of truth of the data to all
the ones that are authorized are the ones who model
the metadata and master data.
9/28/2010 The Business Case for Information Management 16
-
8/8/2019 MICS Assignment
17/19
` Information management helps in crating high qualityinformation whose elements are clearlydefined(metadata) and the information of different
sources and domains are combined (master data) andare brought together to be used by all management
processes(data integration)` The information management business case includes
(.) tactical-make changes easier, faster, less errorprone, and less costly. For large organization, thesavings are significant.
9/28/2010 The Business Case for Information Management 17
-
8/8/2019 MICS Assignment
18/19
9/28/2010 The Business Case for Information Management 18
(.)strategic-timely reporting of data faster and with confidencecreates earlier feedback and gives controller more time toanalyze but also recognized by analysts and shareholders as a
sign of being in control and competent and it sets a benchmarkfor the rest of the market .Improves the organizations publicimage, leading to a higher valuation
(.)Transformational- creating a tightly integrated but looselycoupled portfolio (EIM) of systems by enabling a service-
oriented architecture. Such that all the components haveaccess of their data and data of other components.
(.)Foundational-using IT for recording all the changes of dataand providing a consistent view of data single version oftruth.
-
8/8/2019 MICS Assignment
19/19
9/28/2010 The Business Case for Information Management 19