Business Informatics a Key Driver for Successful Strategic Planning

摘要

The rapidly changing business environment and increased regulations impose challenges in taking the right decisions at right time and the recent financial downturn worldwide is compelling the Business Executives to restrategize for sustenance and growth. The growth strategies that prevail are innovation, rationalization, consolidation, and new market creation. While Sustenance, financial governance, Product/service line innovation, Business Agility, and Customer satisfaction are the necessary ingredients for competitive advantage. For this organizations need accurate and on-demand business information in sales & distribution, financial and operational areas. The dependence on IT as a key enabler to business success is thus, at its peak. Business Informatics covers the informational umbrella activities within the organization spanning Business Information, Information systems and Information Technology. The paper discusses how Business Informatics can help extract critical industry information and leverage the existing information assets that the organizations have to leap into the future success. In strategy implementation, Business informatics contributes to Improve Business to IT connect which is not just about understanding the business requirements but using the IT capabilities to come up with game changing solutions. For example, mergers and acquisitions make use of IT for seamless Integration of cross border acquisition and creation of new market and also enable collaborative knowledge management.