Technological Implementation to Enhance Decision Making and Strategic Planning

Technological Implementation to Enhance Decision Making and Strategic Planning

As an essential aspect of every business, decision making involves numerous processes that are influenced by the incorporation of advanced technology. Information technology is vital as it provides a business with Artificial Intelligence (AI) and Decision Support Systems (DSS). The combination of these systems enables business leaders to gather information through online processes. The data is classified and utilized to guide the next steps that an organization should take. Therefore, a modern business leader should put in significant analysis and efforts to ensure that they remain updated with current trends. The decision-making process of an organization should be facilitated by the implementation of the following technological aspects.

Data Mining in The Context of Predictive Analytics and Bid Data as A Competitive Strategy

With data as the new “oil,” data mining is the extraction of valuable data to identify trends, patterns, anomalies, and correlations that might be significant to an organization. Big data has become an essential aspect of research and academics. The potential growth of digital services and the internet has fueled an exponential data growth. It is now feasible to analyze and store a large amount of data through technological platforms. The real-time data techniques have been incorporated by visionary companies to ensure that they gain a competitive advantage. The incorporation of data mining techniques in the company will provide several opportunities like discovering better algorithms and trade patterns.  The technique is essential in decision-making as it will guide the management on the measures to take. By harnessing the data, the organization will identify new opportunities in the market. Implementing data mining in predictive analytics will enable fast and informed decision-making by combining the analysis of new data sources with in-memory analytics (Lapa et al., 2014, p. 89). As a result, the organization will quickly analyze the new set of data and make quick decisions based on the observations. It is a competitive strategy that will also develop services and products that the customers prefer.

CRM as a Source of Sustaining Competitive Advantages

Customer Relationship Management (CRM) software is vital in the organization as it helps retain existing customers and gain new ones. The progressive aspects of this technological feature inform the need to implement for effective decision making. The CRM strategy places customers at the core of business operations and develops visions and goals of the expected customer experience (Hammami et al., 2015, p. 1633). Also, the software combines all customer service, marketing, and sales information into a database. A CRM strategy that focuses on the customer-facing processes is more likely to meet customer needs. As a result, the customers enjoy the services and guarantee a repeat business with them, thus improving the organization’s bottom line. For that reason, companies should adapt to the new market factors and conditions that directly affect them. The issue of competitiveness requires a company to invest efficiently in understanding customer needs. Therefore, managers should ensure they understand every aspect of their environment and customer needs. The understanding will guide their considerations in the decision making the process. Besides, it will help companies diverge the characteristics and quality of their products. The business will have to build a beneficial relationship with its customers by identifying what they value. Managing this relationship requires a company to satisfy the customers to build trust and loyalty.

Hardware and Software in Terms of Disaster Recovery and Business Process Continuity (BPC)

Disaster recovery (DR) and business process continuity (BPC) are crucial practices that support an organization’s ability to remain operational despite the effects of an adverse event. An organization engages in common procedures and practices to guarantee continuity during and after a disaster. In this case, the plan is to provide a chance for business survival by protecting essential services. The role of IT systems in the success of a business has made DR a critical pillar in ensuring that there is continuity in the business process. For that reason, the organization should have plans that identify essential IT hardware and software to provide backup and resume business operations. The availability of license systems and keys will play a significant role in guiding the decision that business leaders make in case there is a concern about the normal operations of a business.

Summary of How to Integrate All of These Systems

Every technological system is essential in the progress of the organization, and there is a need to integrate them for the ultimate experience. Besides, the collective functionality of these systems will play significant roles in informing future decisions that business leaders will make. Notably, the integration of these systems requires technological expertise, thus the need to involve the IT team to spearhead the exercise. The team leader will be responsible for the maintenance and operation of these systems to ensure that all systems function towards achieving a common goal. Through the use of a shared server for all the systems, the organization leadership will quickly understand the current trend and wisely take the necessary steps to address any arising issues.