Technology has now become symbiotic with human existence and data had become the next thing. Some social scientists have started propounding a theory about the next world war being triggered on the use of data rather than water. So, compiling and using the information for business purposes is the next big thing and competitiveness is its driving force.
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The Strategic Information System, commonly abbreviated as SIS, is a type of information system where data of consumers is stored, organized, and distributed to give a competitive edge to the corporate entity. It also enables the industry to target a class of potential non-consumers and convert them.
Novel solutions are developed to cater to the dynamic needs of customers. Innovative business strategies are made to keep up with the competition. This segmented and organized data may lead a company to manage its brand reputation and goodwill, encourage them to take risks and expand and enhance consumer satisfaction.
This categorization, segregation, and storing of data are called SIM or Strategic Information Management. This allows corporate entities to retrieve intelligible and relevant data for certain purposes through focused algorithms to predict the probability of their success.
Some of the conditions make sure that information retrieved by the strategic management system is employed effectively. These are given as follows:-
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