Information systems s of Learning Using information Data is usually collected through the bank’s research team where fieldwork is done through survey, questionnaires and interviews of a given market area in order to ascertain facts that are accessible only at a ground level. This data are then stored in a secure storage device as it waits to be processed into meaningful data, which is achieved through the processing of information. Manipulation of the data input is with an application program in order to obtain the desired output through extraction of diagrams, reports and tables. Information can thereafter be retrieved through the technique of searching, interpreting, and recovering information from a large amount of data. Information has to be interpreted in order to ensure that users can understand the information this mainly through tables, graphs, text and charts.
Operating support system becomes necessary in order to ensure information in the database is secure and effective. The operation support system undertakes the monitoring, controlling, analyzing, and management of a computer network. This system is more beneficial as it allows the low-level managers within the bank to monitor the day-to-day running of the operations (Stickney et. al., 2009). As the managers can access vital operational information, it enables them to make sufficient decisions, as the trend of basic operations of the banking clients is easily accessible. Operation support system is gaining advantage today because of its ability to process both financial and non-financial transactions, especially in a banking institution daily.
There are various functional areas within the banking institution. These areas enhance effective and efficient transactions, which lead to profitability, especially in the launch of new products. The sales department uses the information to ascertain the products and services that customers are interested in and therefore, develop and administer an effective selling program. Purchasing department uses information in acquisition of goods and services that meet the standards set in the organization in order to meet the expected goals. Manufacturing department uses the information for production scheduling, quality and inventory control and maintenance of products.
Marketing department accesses the information in order to ascertain the companys market through carrying out a market survey in, which it produces relevant information based on selling and distribution of products to customers. Finance department uses the information in ascertaining the transactions that contribute to the organization income as a result, the final output includes the production of a financial report indicating the profitability levels through sell of products(Stickney et. al., 2009). Human resource department uses the information in determining the labor employed in an organization as to whether it complements with the production. Therefore, it advocates for either an increase of labor in order to enhance efficiency.
Launch of a new product requires the flow of information from one department to another in order to achieve success in the market through achieving consumers’ satisfaction. Marketing department carries out a survey in the market in order to ascertain the consumers’ tastes and preferences thereafter the purchasing department looks out for raw materials need in production such that the manufacturing department can produce products for mock up marketing (Stickney et. al., 2009). Human resource department ensures that the labor capital force in the various departments can effectively sustain the production of a new product. Finance department then fixes up a selling price for the product while the sales department ensures that the products are attracted to the new product and that the firm retains customers.
Flow of information
Stickney,C., Weil, R., Schipper, K. & Francis, J., 2009, Financial accounting: an introduction to concepts, methods, and uses, New York: Cengage Learning.