INFORMATION MANAGEMENT IN THE BANKING INDUSTRY (Name) (Institution) Information Management in the Banking Industry In today's world information systems is crucial for the survival and growth of business organizations. All sectors of a company or industry are entirely dependent on information systems for management of valuable data and information. Information system mainly involves the arrangement of processes data groups and technology which act together to store provide accumulate and process information output to speed the process of decision making (Yiu et al. 2007). Application of information technologies and systems has led to improvement in business processes. The banking industry is one of the sectors that has reaped the benefits of information systems to store information and gain a competitive edge over other service industries. This paper will focus on analyzing the importance of information management the impact of enterprise architecture on information management and the various data storage methods in efficiency productivity and better use of systems (Wang 2010). Additionally the users of cloud computing can select from a variety of service options. Small banks can use SaaS and IaaS. Infrastructure-as-a service offers banks virtual machines storage switching physical servers and connectivity resources. Therefore it is evident that cloud computing provides optimal data storage for both small and large banks. References Cane S. & McCarthy R. (2007). Measuring the impact of enterprise architecture. Issues in information systems 8(2) 437-442. Mithas S. Ramasubbu N. & Sambamurthy V. (2011). How information management capability influences firm performance. MIS quarterly 237-256. Wang C. Ren K. Lou W. & Li J. (2010). Toward publicly auditable secure cloud data storage services. IEEE network 24(4). Yiu C. S. Grant K. & Edgar D. (2007). Factors affecting the adoption of Internet Banking in Hong Kong—implications for the banking sector. International journal of information management 27(5) 336-351. [...]
In Assignment 1, you investigated data analytics and the utilization of data analytics in business. In this assignment, use the company or industry that you selected in Assignment 1. Use the Internet or Strayer Library to explore the relationship between information management and data storage techniques. Write a four to six (4-6) page paper in which you: 1. Ascertain the importance of information management for the company or industry that you have chosen. 2. Analyze the fundamental impact of IT architecture or enterprise architecture on information management for your chosen company or industry. Determine if IT architecture impacts the effectiveness or efficiency of information management and vice versa. 3. Suggest at least two (2) data storage methods regarding database, data warehouse, and / or date mart for your chosen company or industry. Provide a rationale for your response. 4. Determine the optimal data storage method between the methods that you suggested in Question 3. Provide a rationale for your response. 5. Use at least three (3) quality references. Note: Wikipedia and other Websites do not qualify as academic resources. Your assignment must follow these formatting requirements: • Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions. • Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length. The specific course learning outcomes associated with this assignment are: • Compare and contrast the strategic and operational use of data management systems. • Summarize the complexities of information technology and practices.