A/ ASSIGNMENT RECAP

• Part 1 (Questions 1-5): Theories in the first four weeks

• Part 2 (Questions 6-12): Excel functions

• Part 3: Case study

B/ DETAILED GUIDELINES

1. Part 1: Theories

• Information technology focuses on (1) business skills and the use of technology to make decisions; (2) the selection, integration, and deployment of computing technology; and (3) technical skills, such as planning and deploying networking infrastructure, integrating databases, and building websites.  

• Data is raw, unprocessed information, such as numbers, text, or images, used as input for computer systems to generate meaningful insights. 

For example: 5%, ISYS2056, RMIT, etc.

• Information is processed and organized data that provides meaning or context, facilitating understanding and decision-making.

For example: ISYS2056 is the Business Information Systems Course.

• Knowledge is the meaningful understanding and application of information, derived from the interpretation and synthesis of data.

For example: Business Information Systems is a core subject because its content is needed by all areas of business.

• Forms of business analytics: Descriptive, Predictive, and Prescriptive.

• Descriptive Analytics: focuses on summarizing historical data to provide insights into what has happened in a business. It involves reporting, scorecards and dashboards to describe past performance.

For example: The highest sales figure at Hammer Vacuum Cleaners in 2013 in WA was achieved by Joan.

• Predictive Analytics: involves the use of statistical algorithms and machine learning techniques to forecast future outcomes based on historical data patterns. It helps businesses anticipate trends and make proactive decisions.