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Improvement Project of Science Construction CS

Abstract Science Construction’s business is in planning, developing and building road projects. The major of its clients are municipalities, city governments, and other public sector entities. While the bankruptcy rates for these clients is very low, when economic downturns happen, their ability to pay in a timely fashion also suffers. This leads to businesses such as Science Construction needing to take on additional debt and to find creative methods in order to stay afloat during times of recession. Methods such as selling accounts receivables at discounted rates and taking larger lines of credit through banks and other lending institutions are some of the ways organizations can remain viable when their cash inflows have turned into a trickle. Science Construction is asking the Turkish Courts to postpone their bankruptcy proceedings for a year while they attempt to restructure. Through this, suggestions such as forcing shareholders to pay their debt to the organization, gaining credi...
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Discuss the role of data and data management solutions in organizational decision making.

Define and differentiate between data, information, and knowledge.  Discuss how each can contribute to organizational competitive advantage.
Information System processes the inputs and generates outputs that are sent to the user or to other systems. A feedback mechanism that controls the operation of a business.
Data are raw facts and elementary descriptions of things, events, activities, and transactions that are captured, recorded, stored, and classified, but not organized to convey specific things.
Example of data would include grade point averages, bank balances, or the number of hours employees worked in a pay period.
Information is a collection of facts (data) arranged in some manner so that they are meaningful to a recipient.
For example, if we include student names with grade point averages, customer names with bank balances, and employee wages with hours worked, we would have useful information. In other words, information comes from data that have been processed.
Knowledge consists of information that has been organized and processed to convey Understanding, experiences, accumulated learning, or expertise as it applies to a current business problem or process. Information that is processed to extract critical implications and to reflect past experience and expertise provides the recipient with organizational knowledge, which has a high value.
Competitive advantages:
  • Obtain more potential customers.
  • Create a strong business relationship with potential customers.
  • Streamline regular operations, reduce manufacturing costs, improve productivity, improve profit, minimize loss or wastage and save time.
  • Allocate talent to core business instead of overhead.
  • Provide the best service to customers.
  • Maintain better relationships with key partners.
  • Make the customers to better guide the business.
Discuss the role of data and data management solutions in organizational decision making.
Computers and information technology are very important parts of every business today. 
Businesses seek to implement information systems that will significantly impact the regular business's operations, successor survival. This kind of strategic systems provide organizations with more advantages in meeting organizational goals, making them increase their market value, to better communicate with their suppliers, or getting customers' feedback to make their product better. There are different Information technology supported strategic systems.
Decision support systems help decision makers across an organization and at all levels of the organization.
Strategic decisions are usually made by top management; these are relatively long term planning decisions that deal with the organization’s objectives as a whole and the allocation of resources to achieve these objectives. Top management may rely on executive information systems for some of their decision making and forecasting.
Tactical or managerial decisions are made by middle managers, who prepare short term plans, procedures, and policies with which to begin implementing the organization’s long-term strategies.
Operational decisions are made by line managers and operators. These are the day to- day decisions that aim to keep the organization’s operations moving smoothly.
References:
Business Intelligence Role in Making Corporate Decisions. (n.d.). Retrieved from http://www.exforsys.com/tutorials/business-intelligence/bi-role-in-making-corporate-decisions.html
The Differences Between Data, Information and Knowledge :: Infogineering - Master Your Information. (n.d.). Retrieved from http://www.infogineering.net/data-information-knowledge.htm
How Information Gives You Competitive Advantage. (1985, July 1). Retrieved from https://hbr.org/1985/07/how-information-gives-you-competitive-advantage
Journal of Knowledge Management Practice,. (n.d.). Retrieved from http://www.tlainc.com/articl134.htm

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