management Information Systems essays

management Information Systems essays Running a business on your own requires a whole lot of work. One has to set their own hours and be their own boss. Yeah that may sound like fun, but speaking from experience its hand full. The high percentage of business failures clearly shows that while the intentions of wanting to run a successful business are good, the carrying out process is poor. Its almost like building a house without a blueprint and you'll have a lopsided construction that could crumple at any given time. Run a business with the same approach, and you'll get a similar result. If you're going to do it, do it right. One of the most important factors in running a business is knowing how to interpret data. One must know how to turn insignificant numbers into valuable information. As the owner of an aircraft component manufacturer I come across sheets and sheets of data that I must convert to significant information. To help you better understand the process Ive attached our most recent orders and suppliers data form, and I will explain the steps to follow so that you can turn those numbers into information. Here are the steps you need to consider: First you need to study the data, and understand what each number represents. Then you have to choose what factors are necessary for comparison to help improve your business. The first thing I chose to compare was the number of times I opted to use each company. To do this all we need to use is the name of each vendor. An easy way to count how many times they are on the list is to sort the data by vendor number. That gives you every vendor in order. This process will tell you which Vendor is more popular with my firm. I discovered that Fast-Tie Aerospace is the vendor me buy most often from. This will help my company discover where all our shopping is done. Second, I wanted to discover if I was doing the right thing by buying most of my supplies from Fast-Tie Aerospace. The...