R18 unit-1-tk-part-1-technologies in research
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The document discusses various technologies used for business research including the internet, email, World Wide Web, data analysis software, computer-aided design and manufacturing software, enterprise resource planning systems, videoconferencing, and data warehousing. It provides examples of how these technologies can help businesses obtain information, communicate, design products, track resources, and analyze data to support decision-making.
R18 unit-1-tk-part-1-technologies in research
- 1. U N I T 1 T E C H N O L O G I E S U S E D I N BU S I N E S S R E S E A R C H DR. THULASI KRISHNA. K
- 2. INFORMATION NEEDS OF BUSINESS • To run a business, useful, timely, accurate, reliable, and valid data are needed. When data in their raw form are evaluated, analyzed, and synthesized, useful information becomes available to managers that helps them make good business decisions. • Ex: Regional sales statistics, competitors‘ sales and strategies, and the like
- 3. TECHNOLOGIES USED IN BUSINESS RESEARCH • Internet The internet began in 1969 as an experimental hook-up between computers at Stanford University, The University of California at Santabarbara and the University of Utah (USA) in conjunction (combination) with the Department of Defence,America.
- 4. • The internet is helpful to get information about any industry easily. Information can also be obtained from un-published materials on any topic of interest. • One can easily download secondary data and print them as well. • One can also conduct computer-interactive surveys very efficiently with large global audiences
- 5. Electronic Mail • Electronic mail, most commonly referred to as email or e-mail since 1993. Today's email systems are based on a store-and-forward model. • Email servers accept, forward, deliver, and store messages. • Neither the users nor their computers are required to be online simultaneously; they need connect only briefly, typically to a mail server, for as long as it takes to send or receive messages.
- 6. An E-mail address consists of two parts, separated by ‘@’ symbol. ‘.Com’ indicates that it is a commercial site. Educational sites end in ‘edu’ or ‘ac.in’, Government sites end in ‘gov’ and other types of organizations end in ‘.org’. i. E-mail is inexpensive, almost instantaneous ii. Guaranteed delivery subject only to the correctness of the e-mail address. iii. E-mail is a simple and effective way of requesting and obtaining data on a variety of topics from both within and outside the organization. Short surveys could also be conducted via e- mail. Several cyber cafes offer access to the Internet for those who do not own or have ready access to a computer.
- 7. • World-wide Web The World Wide Web (www, W3) is an information system of interlinked hypertext documents that are accessed via the Internet. Tim Berners-Lee (a British Computer Scientist) invented the World Wide Web in 1989.At the time,Tim was a software engineer at CERN, the large particle physics laboratory near Geneva, Switzerland.
- 8. • The ‘WWW’ refers that portion of the internet made up of servers that supports a retrieval system that organizes information in to documents called web pages. WWW documents which may include graphic images, video clips and sound clips are formatted in special programming languages such as Hyper Text Mark-up Language (HTML) and Extensible Mark-up Language (XML) that allow for displaying to linking and sharing of information on the internet.
- 9. TOP QUALITATIVE DATA ANALYSIS SOFTWARE IN 2018 • Nvivo,ATLAS.ti, QDA Minor, MAXQDA, HyperRESEARCH,WebQDA, Xsight, Focus On, Raven’s Eye,Annotations • Omnia Pricewatch , QuestionPro , Dub InterViewer , DataPlay ,The Survey System
- 10. SOME SOFTWARE USED IN BUSINESS RESEARCH • Groupware Groupware is software that runs on a network so that teams can work on joint projects, and it allows people from different departments to access data jointly. For example, if the accounting, finance, sales, and production departments have to coordinate their efforts to come up with a viable product within a tight budget, they will be served well by groupware. This software is of immense use for efficient and effective completion of specific team projects.
- 11. • Neural Networks Neural Networks are designed to trace patterns in a set of data and generalize there from. This software enables sales forecasts, stock market predictions, detection of weather patterns, and the like. Neural networks offer a number of advantages, like requiring less formal statistical training, ability to implicitly detect complex non-linear relationships between dependent and independent variables, ability to detect all possible interactions between predictor variables, and the availability of multiple training algorithms.
- 12. TOP ARTIFICIAL NEURAL NETWORK SOFTWARE • Neural Designer, GMDH Shell, DNNGraph, HNN, Neuroph, Keras, Lasagne, DeepPy, neon
- 13. • CAM/CAD Computer-aided manufacturing (CAM) software helps engineers to design the manufacturing components and directs the production of the product. Computer-aided design (CAD) software creates and displays complex drawings with precision, enabling experimentation with different designs. Design sophistication and product development are made possible by this programme, and this software is extensively used by manufacturing organizations.
- 14. • Enterprise Resource Planning Enterprise resource planning (ERP) is business management software that a company can use to collect, store, manage and interpret data from many business activities, including product planning, cost, manufacturing or service delivery, marketing and sales, inventory management and shipping and payment.
- 15. • ERP provides an integrated view of core business processes, often in real-time, using common databases maintained by a database management system. ERP systems track business resources—cash, raw materials, production capacity—and the status of business commitments: orders, purchase orders, and payroll. • The applications that make up the system share data across the various departments (manufacturing, purchasing, sales, accounting, etc.) that provide the data.
- 16. • The advantage of ERP packages is their capability to provide comprehensive solutions to all the needs of an organization in its day- to-day work. • This is so because they provide complete support for the executive support system and the Management Information System (MIS), and can work with all existing data bases built on different platforms. • Software developers use various tools to build and modify data tables and develop custom functionality.
- 17. • Data Analytic Software Programmes Software programmes are available to obtain, store, and analyze raw data collected through surveys, using Statistical Package for the Social Sciences (SPSS), Statistical Analysis System (SAS), Excel, and the like. Sophisticated business presentations of the results obtained from data analysis are also possible through computer graphics and interactive CDs.
- 18. i. Gathering data is facilitated through audit capabilities in software that track and provide information on the extent of usage of any function or feature. ii. It is now feasible to analyze online purchase requisitions for office supplies to determine frequency, volume, and type of purchases. iii. A company can track the number of times its web site has been visited and the duration of such visits, so as to evaluate its appeal and improvise it, as needed. With a little more programming effort and the co-operation of the visitors to the site, more information on user profile can easily be obtained to assess buying preferences and market demographics information useful for developing marketing strategies.
- 19. Multimedia computers combine text with sound, video animation, and graphics— all vital in business communication and presentations. Connectivity, which enables even incompatible software and hardware to share information and resources through the use of a communication network, will enable us to access information even more easily in the future. Designing questionnaires, collecting data, data analysis, and web and e-mail surveys are facilitated by several software programmes, including SumQuest or SQ Survey Software, Professional Quest, and Perseus.
- 20. • GroupVideoconferencing Group videoconferencing reproduces the face-to-face meeting effect by using large TV monitors or multimedia projectors. Videoconferencing systems have the advantage of integrating with other vital business technologies like spreadsheets and presentation software. Thus, much data (including numerical figures) can be exchanged during videoconferencing as organizations try to engage in consultative decision making and further research and analysis. Videoconferencing has become even more attractive in the post terrorist business environment on considerations of cost and safety.
- 21. • Virtual Reality Virtual reality creates 3-D environments in which to create a product in a computer and show it to prospective interested groups with details regarding price, materials, and other relevant information. Greeting messages with virtual flowers can compete with Hallmark cards in a big way in the future.
- 22. • Linkage of PCs to Electronic Devices One of the latest efforts being made by Microsoft and Sony is to link PCs and consumer electronic devices. For instance, a company can plug a camcorder to a PC or to a TV set top box for sending video mail over the Internet. Business transactions, communication, and research through this mode will be accelerated multifold when the device is perfected.
- 23. INFORMATION SYSTEMS AND MANAGERIAL DECISION MAKING • Data Warehousing, Data Mining, and Operations Research Data warehousing and data mining are aspects of information systems. Most companies are now aware of the benefits of creating a data warehouse that serves as the central repository of all data collected from disparate sources including those pertaining to the company‘s finance, manufacturing, sales, and the like. The data warehouse is usually built from data collected through the different departments of the enterprise and can be accessed through various on-line analytical processing (OLAP) tools to support decision making.
- 24. • Data warehousing can be described as the process of extracting, transferring, and integrating data spread across multiple external databases and even operating systems, with a view to facilitate analysis and decision making.
- 25. • Complementary to the functions of data warehousing, many companies resort to data mining as a strategic tool for reaching new levels of business intelligence. • Using algorithms to analyze data in a meaningful way, data mining more effectively leverages the data warehouse by identifying hidden relations and patterns in the data stored in it. • Data mining helps to clarify the underlying patterns in different business activities, which in turn facilitates decision making.
- 26. • Operations research (OR) or management science (MS) is another sophisticated tool used to simplify and thus clarify certain types of complex problems that lend themselves to quantification. • OR uses higher mathematics and statistics to identify, analyze, and ultimately solve intricate problems of great complexity faced by the manager. • Areas of problem solving that easily lend to OR include those relating to inventory, queuing, sequencing, routing, and search and replacement. • OR helps to minimize costs and increase efficiency by resorting to decision trees, linear programming, network analysis, and mathematical models.
- 27. •ThankYou