What are the implications for
What are the implications for management of each of the following trends? Reduction in cost of hardware with timeo Businesses benefit from rapid processing by providing better service at a reduced cost. o For example, an automated teller machine (ATM) system in a bank can process customer withdrawals, deposits, and transfers faster and less expensively than a human teller because it uses computer hardware. Reduction in size of hardware with timeo Finally, capacity is important in information systems, and computers provide the capacity to handle large amounts of data. o Businesses benefit from this capability by being able to process volumes
o Without accurate processing, a business's costs would be greater and its information less reliable. Hardware development proceeds very rapidly, and businesses need to be constantly on the lookout for hardware that will give them or maintain for them a competitive advantage. o You sometimes hear about computer errors, but usually these result from mistakes made by humans, not by computers. All these benefits gained from the use of computer hardware in information systems allow a business to compete effectively with other businesses. The business's costswould be greater, its customer service poorer, and the information it needs for decision making less reliable. o Thus, the system reduces the cost of selling a product at an incorrect price. In the long run, without the necessary computer hardware, thebusiness might not be able to survive against competitors who have the appropriate hardware in their information systems. Sometimes a business can gain an advantage over another business by being the first to use new computer hardware. Increase in power of hardware with timeo Accuracy is also important in information systems, and computers ensure that the results of processing are correct by not making mistakes as people do. Without the use of hardware in information systems, a business would not be able to process data as quickly and accurately, and in the same volume, as its competitors. o The results of the analysis help managers draw conclusions about sales trends. o A POS system also keeps an accurate count of stock because of its use of computer hardware, and therefore the system provides better information about inventory. For example, the first supermarkets to use POShardware gained an advantage over other supermarkets by being able to check out customers quickly and more accurately.
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