mics assignment

8/8/2019 MICS Assignment

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By : Ridhima Bhatt(09609037)

Akhil Laroiya (09609107)Riki Jain (09609149)

9/28/2010 The Business Case for Information Management 1


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Just like every other asset in the organization, be it

capital, labour, materials, or facilities, information

needs to be managed. Without reliable and timely information there is no

way to sustain in a business

The business case is found in how information

management supports the business, like with anyother asset



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Information management :

All processes and technologies that help create high

quality information, where all elements are clearlydefined and can be combined with each other in a

meaningful way, in order to support the management

processes.



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Data quality to create high quality information

Metadata management to clearly define all elements Master data management to be able to combine

information from differentdomains and sources on all levels of aggregationthrough a common set of

hierarchies Data integration to bring the data together (physical

or virtual) for allmanagement processes to use



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It covers all processes and technologies to make sure all

relevant information is complete and correct.

Data quality management needs to be:

Preventive, having processes and systems that do not

allow any data capture mistakes;

Detective, to check if this is the case, as one may not

have control over all necessary data; and Corrective, to make sure problems with data quality

are solved



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Metadata management consists of all processes and

technologies aimed at creating the single version of

the truth for the definitions of all relevant businessentities.

For metadata management, an organization requires a

repository, to be used by all management processes,

in which the definitions are stored, harmonized, andefficiently be maintained over time.



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The consistent and uniform set of identifiers and

extended attributes that describe the core entities of

the enterpriseand are used across multiple businessprocesses.

Examples

departments or cost centers, customers, products, a

central time table, accounts(in short, every list of things needed to do business)



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Data integration consists of a wide variety of

techniques to enable companies to access, integrate,

transform, and move any type of data between a

source and a target system, in any frequency, and inany format, thereby eliminating data fragmentation

across the enterprise.



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Information used changes whenever

there is a change within the business

Making changes in multitude of systems

involves manual processing

Managers and Analysts prepare newreports( Excel based), which contains no

checks on quality and completeness of

data involved9/28/2010 The Business Case for Information Management 10


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Issues:

y Senior Management: Spends time on comparing differentreports having different views on business

yKnowledge workers: Spend valuable time on creatingreports and reworking in case of errors

y Operational Managers: Repetition of information

Solution:Single management system, with a central repository formetadata and master data, creates a more reliable processand contributes to savings

Tactical benefit:Saving costs in management processes is a tactical benefit,

it does not improve the business itself9/28/2010 The Business Case for Information Management 11


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Advantages of closing the books faster:

y Create earlier feedback to senior management

y Gives controllers more time to analyze

y Allows organization to file external reports earlier

y Reporting fast recognized as parameter of control and competence, by analysts andshareholders

Need for Single version of truth:

40% or more of time spent on closing the books is spent on manualreconciliation between various administrations. Data is not comparable becauseof:y Differences in chart of accounts, different views on organizational hierarchyy Terms used in the various data streams often have slightly different definitions

y Data elements are missing or not correct and need to be manually fixed

Solution:Single management system is used to eliminate manual steps and reduce timeneeded to close books

Strategic benefit:More accurate and timely numbers can be reported with confidence



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EIM( Enterprise Information Management):

y Allows various systems to interchangedata in a real-time fashion.

y EIM changes the role of the data

warehouse, making it part of a closedloop architecture.

y Data warehouse not only receivesinformation from various sources tointegrate and enrich it for the purposes ofmanagement information, but also, on the

granular level, it feeds data back to thevarious source systems to offer, for example, an integrated customer view.

y Data can only freely flow betweensystems if they share the same definitionand the same master data.



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` SOA-Creating an EIM( enterprise informationmanagement) which is a tightly integrated butloosely coupled portfolio of systems is enabled bya service-oriented architecture(SOA).

A component based approach to systemsarchitecture requires a separation of process anddata

The business case for such an IT architecture lies inflexibility (being able to perform multiple tasks)and agility(being able to change those tasks).



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Mass Customization through a standard mass

production process, many different product

configurations can be manufactured, to create highlytailored products. It combines the best of both worlds

of mass and bespoke production.

In many cases customization is driven by the

customer, who configures the product or service himor herself. The organization is moving from process

driven to customer driven



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Business and IT alignment-IT is responsible for

providing a centralized framework for metadata,

master data and data quality management.

It tracks the audit trail on all changes, and makes

sure there are no compliance issues with imposed

regulations and makes sure that there is a single

version of truth of the data to all

the ones that are authorized are the ones who model

the metadata and master data.



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` Information management helps in crating high qualityinformation whose elements are clearlydefined(metadata) and the information of different

sources and domains are combined (master data) andare brought together to be used by all management

processes(data integration)` The information management business case includes

(.) tactical-make changes easier, faster, less errorprone, and less costly. For large organization, thesavings are significant.



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(.)strategic-timely reporting of data faster and with confidencecreates earlier feedback and gives controller more time toanalyze but also recognized by analysts and shareholders as a

sign of being in control and competent and it sets a benchmarkfor the rest of the market .Improves the organizations publicimage, leading to a higher valuation

(.)Transformational- creating a tightly integrated but looselycoupled portfolio (EIM) of systems by enabling a service-

oriented architecture. Such that all the components haveaccess of their data and data of other components.

(.)Foundational-using IT for recording all the changes of dataand providing a consistent view of data single version oftruth.


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