Advantage and disadvantage of Data analysis
- 1. EAST AFRICA UNIVERSITY FACULTY: BBA DEPERTMENT: ACCOUNT SEMESTAR: THREE COURSE: INTRODUCTION OF BUSINESS INFORMATION SYSTEM LACTURE: CADAYSEY YEAR: 2022-2023 What are the advantages and disadvantages of technology to the business ?
- 2. GROUP 3 NAMES 1. Abdinuur ahmed Saed ID-3450 2. Yahye Yusuf Hassan ID-3539 3. Sulayman Abdikadir Omar ID-3536 4. Mohamed Yasin Yusuf ID-3511 5. Abdirahman Bashir Abdillahi ID-3451 6. Fatima salad Ibrahim ID -3483 7. Bushro Yasin Abdi ID-3480 8. Asha mahad Mohamed ID-3466
- 3. What are the advantages and disadvantages of technology to the business ? Introduction: The Advantages and Disadvantages of National Education Policymaking Informed by International Achievement Advantages Improved Communication: Technology has improved communication by making it faster and more efficient.
- 4. Advantages of Technology 1. Communication 2. Technology makes your job easier 3. Productive 4. You have access to a lot of information 5. Online Education 6. Digital Currency 7. Self-driving Cars 8. Smart Homes 9. Portable Technology 10.Video Communication
- 5. The Seven Main Types of Competitive 1. Advantage Cost 2. Advantage Focus 3. Advantage Speed 4. Advantage Innovation 5. Advantage Geographic 6. Advantage Customer service
- 6. • Advantage Cost facilitate ways for a company to become more profitable. • Advantage Focus is ultimately about having full control of your mind • Advantage Speed Being able to run fast and move on a dime provides you with an advantage over your opponents.
- 7. Disadvantages of Technology in Business In the modern business world, technology is more important as compared to the previous decade. It can help businesses automate tasks as well as improve efficiency, and even create and launch new products or services.
- 9. • ECONOMIC: individuals' employment status, their income, and whether they had a low income. • EDUCATION: It enhances the individual growth of a person. Education also improves the economic growth • SOCIAL: It enhances the individual growth of a person. Education also improves the economic growth What is technology? Technology is the application of scientific knowledge to the practical aims of human life Technology Business: Technology as a concept describes all technology that helps an organisation run its business and operational processes. That technology can be customer-facing applications and solutions,
- 10. What are 5 benefits of technology? • Pros of technology Quick access to information. • Democratising access to information is undoubtedly one of the greatest advantages of technology. • Facilitated learning. • Breaking the distance barrier. • Simplifying tasks. • Providing entertainment. • Increased productivity and efficiency. • Increased life expectancy. • Creating new jobs.
- 11. • Types of Information Technology Here, we have listed different types of Information Technology. • They are: 1. Computing is a known goal-oriented activity that requires creating computer machinery. TOP 5 REASONS WHY TECHNOLOGY IS IMPORTANT IN BUSINESS Look around you. The world we live in today is not the world we were born into. In these past few years, technology has changed the way we interact, the way we conduct business, the way we shop and the way we live and work. It has become an integral part of our routine and now forms an indispensable part of life. 1. Communication Technology enables a faster, wider and more efficient means of communication. This will include interactions within your team or with your clients, potential customers, investors or the general public. Video conferencing technologies,
- 12. 2. Security With the rise in cyber-crime and data breaches, tight security is imperative for all businesses. Today, all business assets are mostly stored in the cloud or on endpoints. This has made it necessary for companies to adopt strict measures to keep their data as well as that of their customers secure. 3. Efficiency Technology helps increase the efficiency of systems, products and services. It helps track and streamline processes, maintain data flow and manage contacts and employee records. In fact, this increased efficiency in operation helps reduce costs as well as enable the business to grow rapidly. 4. Employee assistance Most employees feel the need to use the latest technologies in performing their tasks with the belief that it will help them deliver the best results. Companies need to consider the cost-output relationship and provide suitable technology to enhance results. 5. Time and money There’s no doubt that technology helps businesses achieve more in less time,
- 13. 3 Types of Technology Used in Business To Save Time & MoneyTable of Contents 3 Types of Technology Used in Business To Save Time & Money 1. Task & Inventory Management Tools 2. Security Software 3. IT Help Desks Task & Inventory Management ToolsTask and inventory management tools have slightly different purposes. Security Software The reason why so many companies heavily invest in security software is to protect their business from online threats. With the proper security measures
- 14. • IT Help Desks help desk services are used to provide fast solutions to various problems encountered by employees and/or customers. Whether it’s enquiries about device Disadvantages of Technology in Business 1 Security Risks and Data Breaches 🔒 2 Technology is expensive to maintain Technology can lead to lost productivity 3
- 15. The Impact of Technology on Business 1 Evolution of Business Operations 📈 Technology has transformed traditional business practices, leading to greater efficiency and innovation. 2 Rise of E-commerce 💻 Online platforms have opened up global markets and transformed the way businesses sell products and services. 3 Emergence of Remote Work 🏠 Advancements in technology have made it easier for employees to work remotely, increasing flexibility and work-life balance.
- 16. Remote Work Environment Emergence of Remote Work 🏠 Impact on Operating Costs Collaboration and Outsourcing
- 17. The Role of Artificial Intelligence in Business Improved Decision Making AI-driven analytics provide insights that help businesses make data-backed decisions.
- 18. Automation and Efficiency AI-powered automation speeds up repetitive tasks, freeing up employees to focus on strategic initiatives.
- 19. Enhanced Customer Service 📞 Chatbots and virtual assistants offer 24/7 support, improving customer interactions and satisfaction.
- 20. The Importance of Cyber security in Business 1 Protection Against Threats 🔒 Cybersecurity measures safeguard businesses from data breaches, hacking attempts, and other digital threats.
- 21. Customer Trust and Reputation ️ 🛡️ Strong cybersecurity practices build trust and protect a company's reputation in an increasingly digital world. 2
- 22. Adaptability and Learning Employees need to continuously update their skills to keep pace with technological advancements.