Unit 1 of e business for m.com second semester
- 1. Unit-1
- 2. Topics . • Business process management • Competitive advantage through digital technology • Career in digital age • Cloud computing • Data management leading to business intelligence
- 3. Business Process Management Definition: It refers to the systematic approach of optimizing and managing the workflows, activities, and processes within an organization, specifically through the use of digital tools and technologies.
- 4. Key Aspects: • Process Automation: Automating tasks to reduce errors and increase speed. • Process Optimization: Improving workflows for better effectiveness. • Workflow Management: Ensuring seamless task flow across departments. • Technology Integration: Using ERP, CRM, etc., to manage processes. • Agility & Flexibility: Adapting to market, technology, or customer changes. Customer-Centric: Focusing on improving the customer experience.
- 6. Competitive Advantage through Digital Technology • Enhanced Efficiency: Automating processes and integrating digital tools streamline operations, reduce manual errors, and increase overall productivity. • Data-Driven Decision Making: Advanced analytics and big data allow for more informed decision-making, leading to better strategic planning and quicker responses to market changes. • Improved Customer Experience: Digital technologies enable personalized customer interactions and support, enhancing satisfaction and loyalty through targeted marketing and seamless service delivery.
- 7. • Innovation and Agility: Digital tools facilitate rapid development and deployment of new products and services, enabling businesses to adapt quickly to market trends and customer needs. • Global Reach: Digital platforms expand market reach and access, allowing businesses to operate and engage with customers globally, often with reduced overhead costs. • Cost Reduction: Cloud computing, automation, and other digital technologies can lower operational costs by reducing the need for physical infrastructure and optimizing resource allocation.
- 8. Career in Digital Age Digital Literacy practices Remote Work Opportunities Automation and AI E-Commerce and Digital Gig Economy and Freelancing
- 9. Career in Digital Age (Con.) Cybersecurity Adaptability and Continuous Learning Blockchain and cryptocurrency Tech Startups and Innovation
- 10. Cloud Computing Scalability: Adjust resources based on demand for flexibility and efficiency. Cost Efficiency: Pay-as-you-go model reduces upfront investment. Accessibility: Access services and data from anywhere with an internet connection.
- 11. Cloud Computing (Con.) Reliability: Benefit from high availability and disaster recovery solutions. Security: Utilize advanced measures like encryption and access controls. Innovation: Leverage technologies such as AI, big data analytics, and machine learning.
- 12. Data Management Leading to Business Intelligence Definition of Data Management: • Process of collecting, storing, and using data securely, efficiently, and cost-effectively. Definition of Business Intelligence (BI): • Technologies and strategies used by businesses to analyze data and make informed decisions. Why This Topic is Important: • Businesses today rely heavily on data to drive strategy and decision- making.
- 13. Data as a Strategic Asset: • Data is central to understanding customer behavior, market trends, and operational performance. Key Statistics: • Mention some industry stats (e.g., 90% of the world's data created in the last two years). Challenges of Managing Data: • Volume, velocity, variety, veracity. Importance of Data in Modern Business
- 14. The Role of Data Management in BI Ensuring Data Quality: • Accurate, complete, consistent data is the foundation of effective BI. Data Integration: • Combining data from multiple sources for a unified view.
- 15. Thank you