Components of Commercial Value Chain
February 12, 2025
Any Importer wishing to bring in cargo into the country may do so through air, ship, and road or multi modal transport. Every import consignment is required to be deposited by the transportation agency or the freight forwarder into the Customs Designated Bonded warehouse for Customs Clearance. Customs Clearance is facilitated by Customs Clearance Agent […]
A scatter plot is a graphical tool. It has been designed to ensure that it provides a convenient view of the process to the manager at a single glance. The scatter plot studies the correlation between the important variables. When it studies the correlation between two variables, it is called a bivariate scatter plot. When […]
As mentioned in the earlier articles, Six Sigma helps the organization develop at various levels viz. operational, tactical and strategic. While the operational and tactical goals of cost reduction and increased customer satisfaction are well understood and appreciated, the strategic intent behind Six Sigma is not well recognized. It is the pivotal factor, however in […]
Elon Musk launched his car company Tesla in order to make cars that would not harm the environment. He has marketed Tesla as being an eco-friendly car. Also, some of the largest economies in the world like China and the United States plan to switch to electric cars in the next couple of decades. The […]
Internet of Things (IoT) is often thought of as being a high-tech concept. It is a common belief that such high tech concepts are only used by mega-corporations and that they have no place in the life of a common person. This is not the case as far as the Internet of Things (IoT) is […]
It is often observed that term information system and information technology are used interchangeably.
In a literal sense, information technology is a subset of information systems.
Information systems consist of people, processes, machines and information technology. The great advancement in information systems is due to development in information technology and introduction of computers.
An information system can be defined as set of coordinated network of components, which act together towards producing, distributing and or processing information.
An important characteristic of computer-based information systems information is precision, which may not apply to other types.
In any given organization information system can be classified based on the usage of the information. Therefore, information systems in business can be divided into operations support system and management support system.
Everyday knowingly or unknowingly, everyone is utilizing information technology. It has grown rapidly and covers many areas of our day to day life like movies, mobile phones, the internet, etc.
Information technology can be broadly defined as integration of computer with telecommunication equipment for storing, retrieving, manipulating and storage of data.
According to Information Technology Association of America, information technology is defined as “the study, design, development, application, implementation, support or management of computer-based information systems.”
Information technology greatly enhances the performance of economy; it provides edge in solving social issues as well as making information system affordable and user friendly.
Information technology has brought big change in our daily life be it education, life at home, work place, communication and even in function of government.
Information system and information technology are similar in many ways but at the same time they are different. Following are some aspects about information system as well as information technology.
Information technology has helped drive efficiency across organization with improved productivity and precision manufacturing.
Information technology has shown exponential growth in the last decade, leading to more sophisticated information systems.
Today’s information technology has tremendously improved quality of life. Modern medicine has benefited the most with better information system using the latest information technology.
Information systems have been known to mankind in one form or the other as a resource for decision making. However, with the advent of information technology information systems have become sophisticated, and their usage proliferated across all walks of life.
Information technology has helped managed large amount of data into useful and valuable information.
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