Running Head: BUSINESS INFORMATION SYSTEMSBusiness and Finance PaperName:Institution:1Running Head: BUSINESS INFORMATION SYSTEMS2In today's world technology has become the difference between profitability and loss, it hasbecome the difference between ineffectiveness and effectiveness. In this era for any business tosurvive it must be ready to be flexible in the adoption of beneficial and appropriate technologynecessary in its given field of specialization. The adoption will help the business achieve itsobjectives effectively and efficiently, within the set time and the set budget.Systems are interconnected interrelated components that are working in tandem towards apredetermined objective or goal. Information, on the other hand, is data that has undergonedecoding/analyzed to give it meaning. A business information system is, therefore, interrelatedcomponents that undertake the various business activities such as input, processing, storage andoutput with the goal of transforming the raw data into meaningful information products that areapplied to the various business functions such as planning, decision making, forecasting andeven control and coordination. ("ResearchGate - Share and discover research", 2016)They are various business information systems depending on the function of the business thatthey are meant to perform. Transaction processing system records processes and stores the dailyroutine information that is related to the firm operations t ...
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