An Enterprise Data Warehouse (EDW) is a system that collects and stores information from numerous sources within an organization in order to support decision-making. An Electronic Records Management (ERM) system is a software application that enables organizations to manage their digital records, including creation, classification, storage, retrieval, and disposition.
Enterprise Data Warehouse (EDW): Enterprise Data Warehouse (EDW) Benefits
This management information system will have several benefits to my organization. Some of these benefits are data integration and risk reduction. Enterprise Data Warehouse (EDW) is a keystone data architecture for large and complex organizations (Campion Jr et al., 2020). By consolidating information from disparate sources into a centralized repository, EDW helps organizations reduce the risk of data integration failures, improve decision-making through timely access to accurate information, and mitigate compliance and regulatory concerns. And therefore, this will allow my organization to be accurate in its decision-making, especially regarding the amount of inventory to be kept. Knowing the amount of inventory to be held helps reduce overstocking and stock expiry; keeping enough inventory also eliminates material handling costs to my company.
Applications and Solutions
An EDW is a system used for data analysis and reporting, often in large organizations. It contains a copy of all the data in the organization that is relevant to decision-making. This allows decision-makers to analyze data from different parts of the organization without having to go through the process of extracting it manually. Retail vendors offer a variety of applications and solutions that can be used in an EDW (Campion Jr et al., 2020). For example, they may offer software for data extraction, cleansing, and transformation, software for creating business intelligence reports, or software for performing complex analytics tasks. They may also offer services such as data integration, implementation support, or training and education.
Solutions Framework
Concerning the solutions offered by EDW, my staff will have to develop some framework such as computers, training for the staff, and introduction of upright and strict organizational values. Computer systems will be necessary because the complex data analysis will be done through them. Again, computer and data interpretation skills training will be necessary also have to be implemented to enable accurate and reliable data for the right decision-makers within the company. Values include honesty, teamwork, integrity, diversity, accountability, and quality customers service to ensure our company attains its vision.
Solution Strengths, Weaknesses, and Cost
The strength of data extraction, complex data analysis, business intelligent report creation, and integration of data will lead to accurate, faster, and trustable reports. These reports generated by the computer systems will be useful for our organization since they will aid in accurate and timely decision-making. The reports generated by these computer systems will also educate my staff members. The weakness of these solutions is that they will need human intervention for interpretation, and finding a competent interpreter may be hard to find (Campion Jr et al., 2020). The cost of these solutions are too expensive, starting from purchasing the computer system and staff computer training.
Solutions Benefits
The solutions such as data extraction, intelligent report generation, and complex or complicated data analysis from EDW through computers will enable the company to access reliable and accurate information. The information accuracy and data reliability will give the company a competitive advantage since the firm will be making perfect decisions that will solve the clients’ complaints or problems. Meeting customers’ expectations will attract many clients to the company, thus enabling the organization to conduct large operations, thereby influencing its strategies. Large-scale operation is when a company buys products in bulk, thus enjoying economies of scale (Campion Jr et al., 2020). The operation efficiency will increase because the company will never experience stock-out costs.
Electronic Records Management (ERM): Electronic Records Management (ERM) Benefits
The key benefits include data security improvement and efficient productivity improvement. Improved data security will help to improve data security by providing a secure online repository for my company records (Oladejo & Hadžidedić, 2021). This will reduce the risk of data breaches and ensure that our records are always safe and accessible. Similarly, enhanced efficiency and productivity will help to streamline processes and increase efficiency across our organization, and this will allow employees to access important records quickly and easily, improving productivity overall.
Applications and Solutions
There are various electronic records management (ERM) applications and solutions offered by retail vendors. Some popular ERM applications include Oracle, FileMaker Pro, and Microsoft SharePoint. Oracle is a comprehensive software suite that provides a wide range of functionality for managing enterprise content, including text, images, and other files. FileMaker Pro is a cross-platform database application used to create customized database solutions (Oladejo & Hadžidedić, 2021). Microsoft SharePoint is a web platform developed by Microsoft for intranet and website collaboration. It provides features such as document management, blogs, wikis, and discussion boards.
Solutions Framework
A framework for electronic records management (ERM) is a structure or set of principles that provide the foundation for the design, development, implementation, and ongoing management of ERM solutions. My internal staff will have to develop a framework that framework should include an overview of the organization’s business and information needs related to managing its records. Similarly, they will also work on the standards and procedures governing the creation, capture, storage, retrieval, disposition, and destruction of records in electronic format.
Solution Strengths, Weaknesses, and Cost
Oracle solutions have several strengths, such as offering a complete software package that covers several functions for managing corporate content, including text, graphics, and other files. My company will drastically minimize mistakes with Oracle’s computerized organization procedures and uniform data access. In contrast, FileMaker Pro can be used in developing custom databases and apps for the organization (Oladejo & Hadžidedić, 2021). On the other hand, the weaknesses are that these solutions need information technology experts to interpret and operate these technologies. Conversely, achieving these solutions are extremely costly because it involves human resource training and purchasing of the information technology infrastructure.
Solutions Benefits
The provision of a wide functionality range will allow the company to handle many clients with different wants. Assisting many clients with different needs and wants will give the organization a competitive advantage over its competitors, offering solutions to only one or two groups of clients. Many clients prefer when they can find all their solutions at one vendor. Customers’ base increment will influence company strategies such as adopting online customer service, employing many employees and purchasing more powerful equipment for operations. Hiring many and more competent employees, adopting online customer service, and buying sophisticated equipment will increase the organization’s operational efficiency.
Conclusion
In conclusion, Electronic Records Management (ERM) and Enterprise Data Warehouse (EDW) are two “management information systems that can benefit my organization in different ways. EDW will aid in data collection and storage from various sources within the company that will be useful for decision making. Conversely, ERM will help the company in managing its digital data. Through computers, these information systems help in complex data analysis, thus providing accurate and reliable information for decision making. On the other hand, installing these information systems may be expensive as well as operating them; they again need human resources for direction.
References
Campion Jr, T. R., Craven, C. K., Dorr, D. A., & Knosp, B. M. (2020). Understanding enterprise data warehouses to support clinical and translational research. Journal of the American Medical Informatics Association.
Oladejo, B., & Hadžidedić, S. (2021). Electronic records management–a state of the art review. Records Management Journal.