Business Intelligence
Business Intelligence is defined as a technology driven process that is utilized for examining data as well as for presenting significant information in order to help business executives, business directors as well as other users (George, Kumar & Kumar, 2015). It is mainly utilized in an organization for making proper decisions.
IT Agility
IT agility is a measurement, which is done in order to analyze the effectiveness as well as efficiency of the IT infrastructures so that the business can respond properly to various external threats as well as opportunities. It also helps in reflecting the capability of the infrastructure to change in response to market stimuli.
SWOT analysis
SWOT analysis is a framework that is utilized for studying and for identifying both the internal as well as external factors which have an impact on the feasibility of a project, product as well as on a person (Fischer, Aier & Winter, 2015). It is adopted by various organizations as an aid in order to make proper as well as effective decisions. It helps in examining the strengths, weaknesses, opportunities as well as threats.
Strategic Planning
Strategic Planning is defined as a procedure that is utilized by organizational leaders which helps in determining various goals as well as objectives of the organization. The procedure also incorporates process for forming the order with the help of which the organization should be able to reach its stated vision.
Enterprise architecture
Enterprise architecture is defined as a conceptual blueprint, which helps in defining the structure as well as operation of an organization (Boileau et al., 2014).The main intent of the enterprise architecture is to determine the procedure that is utilized by the organizations for achieving their future as well as current goals.
Management Information System is defined as a system that is computer based and it assists the managers in organizing, evaluating and for efficiently managing the various departments of an organization.
Management information system is a system that helps in providing managers in organizing, evaluating as well as for managing different departments of an organization (He, Zha & Li, 2013). On the other hand, decision support system is defined as a computer based application, which is helpful in collecting, organizing as well as analyzing various business related data for making proper decisions.
Cloud Infrastructure is defined as virtual infrastructure that is delivered or accessed with the help of network or the Internet (Provost & Fawcett, 2013). It usually refers to various on-demand services as well as products which is delivered with the help of a model that is known as Infrastructure as a service.
Data and Text mining is an analysis of data, which is contained in natural language text. The application of text mining techniques helps in solving business related problems, which is known as text analytics.
Document Management system helps in handling tedious tasks for archiving, distributing as well as for creating documents. These documents are generally organized with the help of software that helps in providing users with the ability to modify access as well as centrally store them.
Big Data is an evolving term that helps in illustrating analyze voluminous amount of semi structured, structured as well as unstructured data, which has the potential to be mined for more information (Bilbao-Osorio, Dutta & Lanvin, 2013). It is generally characterized by 3V, which include volume, variety as well as velocity of data.
The list of information technology key performance indicators include:
Advantages: It helps in measuring, identifying as well as counting all the natural business aspects. It helps in increasing the efficiency of management system, which is required for making rope decision. It assists in sharing as well as measuring various objectives, which are associated with the team members (Millet et al., 2015). It helps in serving the visibility on strategic goals as well as performance on the business organizations. It also helps in improving the flexibility of the business operations.
Disadvantages: It does not have any extended connection with the external database and as a result, it can be measured very frequently. KPI’s are used for improving the future results in an easy way.
SaaS: A distributive software models help in holding third party host applications for making them effectively available to the consumers over the internet services whenever needed.
Benefits: The model of SaaS can be developed in a very much less time. The time that is required for deploying the SaaS applications through cloud computing are quite efficient from the business perspective (Poncelet et al., 2015). The internal responsibilities minimize and therefore the users can access data irrespective of the location and time.
Disadvantages: one of the most important issues that is related with the SaaS model is security. The external attackers can easily hack confidential data from the storage without facing any interruption, if proper security is not given to the data servers.
Business Risk faced by Liberty wines
As the volume of data is enhancing, the IT facilities, which are served by Liberty Wines, are unable to tackle the data efficiently. The various functions, which are, associated with the devices are facing challenges due to improper maintenance (Turban, Volonino & Wood, 2015). Therefore, the performance of the workers in terms of productivity is getting slower.
Impact of Liberty Wines IT infrastructure on competitive advantage
The organization “Liberty Wines” have inadequate IT infrastructure, which negatively affected the competitive advantage of the company. The organization is unable to serve the needs of the consumers due to ineffective capacity.
Due to server virtualization, the number of physical servers is being reduced from the initial one to current one, which helps all the applications for becoming faster as compared to previous one. For having faster as well as improved facility, the organization “Liberty Wines “helps in providing better services as well as proper inventory management to the consumers. The amount of power consumption is reduced due to the reduction in the number of physical servers. Power consumption helps in saving the cost of hardware replacement as well as maintenance.
Data as well as IT problems that are limiting FinCEN’s ability against financial crime
The information that are associated with financial institutions are quite inconsistence and as a result the users are unable to resolve the data properly in a simple way. The main problems, which are associated with this illustrates that before transmission to FinCEN they are not validated properly. FinCEN helps in maintaining a benchmark for proper data investigation but the data sets that are present in the agencies are not properly structured. Additionally another significant problem related with FinCEN is that it has limited data. Large amounts of data are unable to process at a time. Sometimes with the help of offline resources, the agency distributes data. Therefore, the access of data becomes slower than the previous one.
FinCEN upgraded its present system in the year 2008 for analyzing as well as collecting huge amount of information. They also helps in providing local, state as well as federal law enforcement as authenticated set of consumers are very much limited (Turban, Volonino & Wood, 2015). The users have access on the data sets whenever they want. The users can also add queries to the servers when there is a requirement.
Effective data analytics is the field, on that financial intelligence is fully dependent. Financial Intelligence is needed for identifying the internal relationship that is present between the business patterns as well as data, which are quite helpful in exploiting various illegal operations as well as functions.
Intelligence is used widely for perceiving the money as well as terrorist. It also assist in increasing the speed of the functionalities which includes detection of criminal activities without have any external interruption.
FinCEN have determined recently that the penalty of civil money is totally against the Western Union services which faces various bank privacy as well as legal documents issues. FinCEN has the capability to deal with proper investigation of money in the processes as well as in other financial institutions.
The big data analytics is very much advantageous for determining both the authorized as well as unauthorized person. It helps in ensuring the list of regulation as well as privacy, which should not be violated by the unauthorized users (Turban, Volonino & Wood, 2015). Proper control as well as monitoring of data approach helps in managing the risk that have occurred for gaining proper competitive advantage in the market.
References
Bilbao-Osorio, B., Dutta, S., & Lanvin, B. (2013, April). The global information technology report 2013. In World Economic Forum (pp. 1-383).
Boileau, I., Payer, D., Chugani, B., Lobo, D. S. S., Houle, S., Wilson, A. A., … & Zack, M. (2014). In vivo evidence for greater amphetamine-induced dopamine release in pathological gambling: a positron emission tomography study with [11C]-(+)-PHNO. Molecular psychiatry, 19(12), 1305-1313.
Bull, J. W., Jobstvogt, N., Böhnke-Henrichs, A., Mascarenhas, A., Sitas, N., Baulcomb, C., … & Carter-Silk, E. (2016). Strengths, weaknesses, opportunities and threats: A SWOT analysis of the ecosystem services framework. Ecosystem services, 17, 99-111.
Fischer, R., Aier, S., & Winter, R. (2015). A federated approach to enterprise architecture model maintenance. Enterprise Modelling and Information Systems Architectures, 2(2), 14-22.
George, J., Kumar, V., & Kumar, S. (2015). Data Warehouse Design Considerations for a Healthcare Business Intelligence System. In World Congress on Engineering.
He, W., Zha, S., & Li, L. (2013). Social media competitive analysis and text mining: A case study in the pizza industry. International Journal of Information Management, 33(3), 464-472.
Millet, A., Martin, K. R., Bonnefoy, F., Saas, P., Mocek, J., Alkan, M., … & Ariel, A. (2015). Proteinase 3 on apoptotic cells disrupts immune silencing in autoimmune vasculitis. The Journal of clinical investigation, 125(11), 4107.
Poncelet, P., Robert, S., Bailly, N., Garnache-Ottou, F., Bouriche, T., Devalet, B., … & Mullier, F. (2015). Tips and tricks for flow cytometry-based analysis and counting of microparticles. Transfusion and Apheresis Science, 53(2), 110-126
Provost, F., & Fawcett, T. (2013). Data science and its relationship to big data and data-driven decision making. Big Data, 1(1), 51-59.
Turban, E., Volonino, L., & Wood, G. (2015). Information Technology For Management: Digital Strategies for Insight, Action, and Sustainable Performance. Hoboken.
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