Information systems in the knowledge based economy

Part of : WSEAS transactions on business and economics ; Vol.7, No.1, 2010, pages 11-21

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Pages:
11-21
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Abstract:
In business we can deal with critical and urgentdecisions every day and the performance of our work depends ontheir quality. Due to the modern technology and the Internet, theamount of available information has increased considerably. In orderto structure this amount of information and to create knowledge fromit, executive information systems became a must for eachcompetitive enterprise. The performance of an information systemwhich could generate complete analysis and forecasting in seconds isvery important. The most critical component for success of themodern enterprise is its ability to take advantage of all availableinformation - both internal and external. The IT solutions designed toaddress these challenges have been developed in two differentapproaches: structured data management (BI - Business Intelligence)and unstructured content management (KM - KnowledgeManagement). Business intelligence systems are helping answerquestions that are mandatory in making good and profitabledecisions. Using the knowledge within an organization can increasethe competitive advantage on the market, and considering this as animportant asset can be used as a production input factor forcompany’s line of business. But, behind an executive informationsystem there is actually a data warehouse.
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Subject (LC):
Keywords:
business intelligence, competitive intelligence, data warehouse, geographical information system, knowledge contribution
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