BIS 318 Week 2 Individual Assignment, Effectiveness of Technology Paper.docx Effectivenes

BIS 318 Week 2 Individual Assignment, Effectiveness of Technology Paper.docx  Effectiveness of Technology  BIS 318  Effectiveness of Technology  Modern consumers have many locations from which to purchase the items they want & need. Managers of retail organizations scramble to find new & imaginative ways of attracting consumers to their businesses & increasing revenue while reducing costs. The recent advancements in technology have helped retail management better control inventory as well as aid in supply chain management, loss prevention, & customer satisfaction (Green, 2002). This paper examines the role of technology in retail, & how technology has improved or may improve retail management effectiveness, & how technology may have changed the role of retail managers.  Before there were computer databases or data warehouses for most retail managers, business intelligence meant making gut decisions, copying the actions of their closest competitors, making no decision at all, or possibly using outdated data. The current business climate, however, means technology such as data warehouses allows managers to make decisions based on current & relevant, organized information. Technology reduces the chances of making poor decisions (Berman & Evans, 2007). When information is gathered, stored & analyzed on a regular & continuous basis, it allows for fewer risks in the management decision-making process. As an example, after implementing a real-time analysis tool, management at Staples now identifies consumer trends & makes better merchandising decisions (Berma