Question

Describe the role of Information Collection in the present business scenario?

Answer 1

Answer:

Its role is to support the key aspects of running an organization, such as communication, record-keeping, decision making, data analysis and more. Companies use this information to improve their business operations, make strategic decisions and gain a competitive edge.

Answer 2

Any business, big or small, must have a system in place to collect, process, store and share data. In the past, these tasks required a lot of time and paperwork. Today, companies use modern technology to streamline and automate these operations. Information systems are now playing a crucial role in data processing and decision making. When used correctly, they can positively impact an organization's overall performance and revenue.

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