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Information System

An information system is defined as a combination of hardware, software, and networks that collect, store, process, and provide data and information. Businesses and organizations rely on information systems to run operations, interact with customers and suppliers, and compete in the marketplace. Major companies like Amazon and Google are built around information systems. Banks first realized the need for information systems to improve services and gain a competitive advantage over competitors.

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Zafar Ullah Gharshin
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32 views2 pages

Information System

An information system is defined as a combination of hardware, software, and networks that collect, store, process, and provide data and information. Businesses and organizations rely on information systems to run operations, interact with customers and suppliers, and compete in the marketplace. Major companies like Amazon and Google are built around information systems. Banks first realized the need for information systems to improve services and gain a competitive advantage over competitors.

Uploaded by

Zafar Ullah Gharshin
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Information system: an 

integrated set of components for collecting, storing, and


processing data and for providing information, knowledge, and digital
products.
“Information systems are combinations of hardware, software, and
telecommunications networks that people build and use to collect, create, and
distribute useful data, typically in organizational settings.”
Business firms and other organizations rely on information systems to carry out
and manage their operations, interact with their customers and suppliers, and
compete in the marketplace. Information systems are used to run inter-
organizational supply chains and electronic markets. For instance, corporations use
information systems to process financial accounts, to manage their human
resources, and to reach their potential customers with online promotions. Many
major companies are built entirely around information systems. These
include eBay, a largely auction marketplace; Amazon, an expanding electronic
mall and provider of cloud computing services; Alibaba, a business-to-business
e-marketplace; and Google, a search engine company that derives most of its
revenue from keyword advertising on internet searches. 

Information systems Need in Banks:


The need of information was first realized in the banking industry. Being in the
service sector, banks needed to store information to better their services and gain a
competitive edge over their competitors. Basic services include the book keeping
records of the customers while the luxurious ones include the facility of an IVR
(Interactive Voice Recording) through which customers can get answers to their
F.A.Q’s. However, developing an information system needs huge investments,
responsibility of non-leakage of information (robustness of the system), and
various other security measures. Banks therefore need information at every stage
possible. The benefits of information are many. Today, decision making systems
are also used by banks for purposes of marketing newer loan schemes.

Importance of Information systems in e-commerce


E-commerce is a subset of E-Business that involves buying and selling goods and
services through the Internet

the information systems supporting the major business functions: sales and
marketing, manufacturing and production, finance and accounting, and human
resources.

https://www.orderhive.com/knowledge-center/informations-system

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