How information gives competitive advantages Assignment

How information gives competitive advantages - Assignment Example It further provides tools that assist companies to apply the metrics and analytical elements to their information sources and this enables them to recognize the chances for growth and identify ways they can enhance operational efficiency. The three main forms of information systems, which are developed and employed for general usage, include financial, operational and strategic systems where these classifications do not have mutual exclusivity as they constantly intertwine. Financial and operational systems, which are meticulously designed, may develop to become the strategic systems associated with specific organizations. Financial systems can be considered as simple computerizations of processes that involve accounts, budgets and finance in a company (Hopper 27). They are alike and universal in all firms, as computers have demonstrated to be perfect for mechanizing and controlling or financial systems, like personnel operations since head-counting controls and workforce of an organization are significant to financial concerns. Financial systems are supposed to be employed among the bases for the rest of the systems as they provide a universal and controlled assessment of all the operations and projects and have the ability to supply dependable numbers that indicate departmental success. Planning across the company must be linked to financial analysis and there are always greater opportunities in the development of strategic systems when financial systems exist as the needed figured can easily be retrieved. On the other hand, operational systems, which are also considered as service systems, assist in controlling the details associated with the company and these systems are different based on the nature of the enterprise. Typically, they are computer systems needed by operational managers to assist in running of the business based on routing. They are ordinary systems that are valuable in keeping track of inventory among other functions as