Business Information Sources CO32030

1. 1 Business Information Sources CO32030 Introduction to the module The value of business information sources Hazel Hall School of Computing, Napier University

2. Lecture outline BIS module learning outcomes lectures and tutorials assessment resources The value of business information sources including material on business intelligence and source types

5. Module learning outcomes - 4 in total Outcome 1 Identify and evaluate sources appropriate to business processes and tasks Achieved primarily through Lectures and exercises on identifying and evaluating business information sources (classroom and lab) Presentations by guest speakers from industry Course work assessment

6. Module learning outcomes - 4 in total Outcome 2 Formulate and apply appropriate search strategies for the retrieval of business information Achieved primarily through Lab exercises

7. Module learning outcomes - 4 in total Outcome 3 Identify the key requirements for operation and use of business information services Achieved primarily through Lectures on mapping sources and the business information industry Presentations by guest speakers from industry and attendance at external events Course work assessment

8. Module learning outcomes - 4 in total Outcome 4 Critically discuss the trends in the business information industries Achieved primarily through Lectures Presentations by guest speakers from industry and attendance at external events; subscriptions to IWR, FreePint Exercise on the annual Business Information Resources Survey Course work assessment

9. Lectures Introduction to the module; the value of business information sources Formal and informal business information sources; assessment of business information needs Mapping business information sources The business information industry Business information sources for competitive intelligence Role of the business information professional

10. Lectures Contributions from external experts John Coll, Scottish Business Information Service Kenny Walker, Reston Consulting Lisa Wright, Commercial Director, Zephus Plus opportunities to meet with practising business information professionals at industry events

11. Tutorials Tutorials - no special preparation by students required, for example Interpersonal networks as business information sources Evaluation of business information trade press Lab exercises Support for course work submissions

12. Tutorials Tutorials - preparation by students required, for example Evaluation of BIS reader items Company information sources exercise Business Information Review survey exercise Referencing exercise Role of the business information professional Exam preparation sessions

13. Tutorials Tutorials dedicated to assessment work Course work assessment preparation (week 5) Examination preparation (week 13)

14. You will... You will... You will!

15. Please???

17. �Flywheel� learning You need effort to gain momentum You need continued effort for momentum to be sustained Short-term pay-off - class participation mark Long-term pay-off - easy revision for exam, higher chance of doing well You are the ones driving the wheel

18. Does attendance matter? Data from past two sessions Average mark of students with 100% attendance � 67% (merit) Average mark of students with below average attendance � 48% (3rd)

19. Does attendance matter? Data from week 13 last session Average mark of students who attended the exam prep sessions in week 13 65% (merit) Average mark of students who did not attend the exam prep sessions � 47% (3rd) 18% difference

20. You might just enjoy yourself! �Hot� careers 2003/4 Corporate Researcher, Information Security Specialist, IT Consultant, Investigator, Accountant, Financial Planner, Pharmacist, Pharmaceutical Sales Rep, Pharmacist, Physiotherapist, Nurse Information World Review, October 2003, p. 1

21. Areas of employment - examples Law Consultancy Banking/finance Energy Pharmaceuticals Manufacturing Media Aerospace/defence Telecoms

22. Course work assessment: class participation Worth 10% Prepare for tutorials Contribute to class discussions Engage with lectures Remember that everyone drives the wheel

23. Course work assessment: report and tender response Information audit/needs report (individual work) worth 25% 2500 words; due 10.30am Tuesday 15th November Response to tender case study (group work) worth 15% Group presentation to panel Tuesday 13th December

24. Supervised assessment: two hour examination Worth 50% Part 1 - 30 compulsory multiple choice questions Part 2 - 2 essays from a choice of 5 Week 14 or 15

25. Module resources See module web pages Register for module news

29. Business information value 1 To permit better decision making (and the avoidance of poor decisions, risk) Example: media research information sources - check impact of spending on advertising campaigns; identifying competitive threats e.g. value of outsourcing

30. Dear Mr Read Business jets - a new departure in business travel There are times when the flexibility of a private jet can save you a great deal of time and your company a great deal of money. Business Jets puts an aircraft at your disposal, giving you access to thousands of local airfields which are not on the map for scheduled airlines. You and your colleagues can fly where you want, in complete privacy, without any ticketing or check-in formalities. By combining the Business Jets charter service with your British Airways scheduled flights, you can complete even the most complicated itinerary quickly and cost-effectively etc...

31. Business information value 2 To move projects from one stage to the next, and do so more quickly Example: technical documentation mounted on externally accessible web pages used remotely by field service engineers

32. Business information value 3 To facilitate improved relationships with clients, enhanced capabilities of front-line sales staff Example: Daily sales information can highlight discrepancies in established customer behaviour (perhaps trying a different supplier?) before permanent damage is done

33. Business information value 4 To allow the exploitation of new business opportunities Example 1: High information users are more likely to be involved in innovative projects with collaborating firms (Hall, 1994) Example 2: 1996 PWC study showed that companies that value information as a competitive tool grew 200% faster; showed 80% higher revenues and 33% higher productivity than other companies surveyed

34. Business information value 5 To save a business time and money Example: 29,000 patents were screened at Dow Chemical. Each was exploited, licensed or abandoned ? $125m licensing income; $40m savings in 10 years (Cohen, 1998, p.26)

37. But Mr Read�s postcode is EH7! Which �entrance�? Which �drive�? Look �impressive�? They�ll look ridiculous! �Convenience�? I don�t think so. �Prestige�? The neighbours will die laughing. A �great investment�? For whom?

38. Business information value 6 To increase worker independence Example: At Lands� End telephone operators are data entry operators, product identity sourcers, credit approvers and telemarketers (Service & Maddux, 1999, p. 54), supply chain is shrunk

39. Business information value for individuals self management taking initiatives, e.g. suggesting training in response to awareness of new legislation improvement of communication and decision making raising performance levels (especially as new employees) learning at work innovation showing commitment and energy at work

41. Business intelligence - fuzzy concept 1 �Higher� form of information, an �item� of information that is unique or �something� that derives from the processing of information (the implications of which are understood by the user) e.g. yield management

42. Business intelligence - fuzzy concept 2 Intelligence as being clever/smart surprise consumers surprise competitors (Sometimes being first is enough � think MS DOS)

44. Business information sources and business intelligence - an example Geo-demographic data-sets exist for particular populations. A large retail and leisure chain might use these for catchment analysis ? investment planning, e.g. new family restaurant

48. Module content Sources of business information: formal and informal - mainly externally sourced Access to sources of business information - mapping those that are externally sourced and the industry that produces them Organisations and business information � business information for business competitiveness, roles of the business information professional

49. Business information sources and business information services per se Detail on formal business information sources and services found in: Navigating business information sources (Burke & Hall, 1998) Business information at work (Lowe, 1999) Actual usage of business information sources in UK business libraries - annual review BIR each March.

50. Navigating business information sources (Burke & Hall, 1998) considers: 1. Business information sources by function: company information sources; marketing information sources; international trade information sources; advertising and distribution information sources 2. Business information sources by format: statistical information sources; patents; trade marks; standards and regulations 3. The major business information services providers: commercial companies such as Thomson and state-funded initiatives

51. Business information at work (Lowe, 1999) considers: 1. Business information sources by function: company information; marketing information; financial information; product information; country information 2. Business information sources by format: news sources and industry sources 3. Accessing business information including discussion of the main business information services providers

52. So... Some �good� business information is held in business information sources The use of business information sources contributes to business intelligence

53. To do list Sign up for BIS module news Start BIS glossary Buy module reader Book a place at the Edinburgh SLA meeting on Wednesday 19th November, 6pm at the Dome Subscribe to Information World Review: http://www.iwr.co.uk/ Subscribe to the FreePint newsletter: http://www.freepint.com/subs/