Use of computers in Business

Use of Computers in Business
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Use of Computers in Business
In the contemporary world of business, almost all the companies that operate on large scale generate their forecasts using similar systems. For those organizations with large volumes, having the computer-based forecasting packages makes it advantageous to them. The packages make it easier and faster for the business to do the analysis and produce estimates of multiple aspects with the large volume of data (Kraemer, Dedrick, & Yamashiro, 2009). Relatively, it makes use of fewer resources due to the less time spent. This saves on the cost the business uses in assessing large data volumes such as sales, profits, and expenses. Finally, the packages increase the level of accuracy in forecasting since it utilizes the historical information effectively.
On the other hand, the use of computer-based forecasting packages in the business forecast is associated with some disadvantages. Mastering the usage of this system for projection is very involving and often takes a long time (Lewis, 2011). This required high-level training which then uses extra resources making the whole process expensive. The method used in the computerized forecasting does not consider the uncertainties that may occur which may blindfold the business to fail to plan for contingencies. Finally, if the person handling the system is not accurate enough, the forecast may be misleading to the company.
After implementing new computer-based products, the management of the organization was able to gain “buy-in” for the new process and systems by lowing the prices of these products.

The low prices attracted the members and many acquired large stock of the products. The management also introduced bonuses for the members who acquire large stocks which encouraged large acquisition. As a manager, to gain “buy-in,” I can introduce credit terms to stock buying to members so that members can get the stock on credit. This will see many members who go for the products in large quantity.
References
Kraemer, K. L., Dedrick, J., & Yamashiro, S. (2009). Refining and Extending the Business Model With Information Technology: Dell Computer Corporation. Information Society, 16(1), 5–21. https://doi.org/10.1080/019722400128293Lewis, Peter H. (Jan, 7th 2011). The executive computer; Forecasting Tools for the Novice. The New York Times. Retrieved from: https://www.nytimes.com/1990/01/07/business/the-executive-computer-forecasting-tools-for-the-novice.html