Chapter 3

CHAPTER SUMMARY OF CHAPTER 3

In this chapter we have examined some aspects of computer technology that facilitates research and decision making by managers in organizations. We have specifically examined some of the current possibilities for research afforded by the use of software from simple data collection to the development of information systems to facilitate further research and decision making.

We described the role of information technology the readily makes available to managers the data they need and also indicated that functionally rich data marts and data warehouses expand the scope and quality of decision making. We mentioned Management In formation System, the Decision Support System, Executive Information System and Operations Research as facilitators of managerial decision making.

The obligations of the users of technology in organizations were noted, with the development of ever-increasing levels of sophisticated software packages that are easy to understand and use.

I believe that technology has made the process of research and information gathering, analysis, archiving and retrieval so much faster and easier in today’s world. This has helped countless managers to make decisions faster and more accurately as they can now access the required information for the decision quickly. In the banking industry where I am, a lot of the services we provide will not have been possible with out the advent of these emerging technologies, for instance, internet banking, ATM machines, etc. Having said that, we must also recognise the dangers inherent in the use of these technologies, such as internet frauds and hackers. The internet banking in my bank had to be shut down for a long while in 2007 due to an online fraud that was successful. The whole platform had to be redesigned with new safety features.