Abstract The following assignment is a conclusion of answers to questions located in Chapters 11 and 12 in our text; Management Information Systems: Managing the Digital Firm, (12th Edition), by Kenneth C. Laudon and Jane P. Laudon. The case studies are varied and entitled, “Reality Gets Better”, Chap. 11, p, 429; “The Flash Crash: Machines Gone Wild? ”, Chap. 11, p. 439; and “Piloting Valero with Real-Time Management”, Chap. 12. , p. 476.
The purpose of this essay is to show exemplary skills in understanding virtual reality against augmented realities, descriptions and reasoning of a flash crash with insight into Valero’s dashboard systems. CASE STUDIES OF BUSINESS & SUPPORT SYSTEMS Reality Gets Better: Virtual and augmented realities are distinctively different. An alteration of reality by ways of a computerized device worn for viewing and/or a screen that allures to changes in normal realities is virtual reality.
Enhancing the cognitive presence of the real world perception that one may have of surrounding “reality” and using the application to involve improved interaction entails augmented reality (AR) (Laudon & Laudon, 2012). AR is rigorously sought after by marketers as the “finishing touch” as it were, by way of connecting interactive solutions to media advertisements’ and magazines (Laudon & Laudon, 2012). An example, Sports Illustrated Magazine incorporated AR in its annual swimsuit issue by enabling readers to scan digital editorial pages and give access to behind-the-scenes media clips (Tode, C., 2012).
Furthermore, the ability given to customers of marketers to test drive per say products through virtual streaming media instantaneously via a smart phone, tablet or personal computers helps exemplify AR. Moreover, AR adds attractiveness to marketers for such applications on GPS devices showing live weather updates and traffic updates. AR applications are everywhere today. You can schedule a haircut at Great Clips; you can get updates on your doctor appointments and health tips via your smart phone and watch average wait times at emergency rooms.
Heads up displays by way of AR literally puts you virtually in the drivers’ seat in video games. The fact you can work through army boot camp by way of your own avatar online from the comfort of your couch in your own home. AR is definitely altering our realities and making us more in tune to what is going on such as in sports, one can see the first down line on their television screen when watching football. AR is here to stay and will only exceedingly build as technology continues to surge which will be a very long time (Ori, 2012).
The Flash Crash: Machines Gone Wild: On May 6th 2010, an algorithm containing mutual funds caused a historical crash. In a 20 minute time frame 75,000 contracts had been distributed on the New York Stock Exchange, this is a feat that had typically taken hours to do. The selling of stocks so quickly caused prices to drop at a ridiculously fast rate and computers kept selling (Laudon & Laudon, 2012). Market liquidity, processing speed, and reduced overall cost are benefits ascertained by electronic trading.
The ability obtained by computers that crunch large data amounts in extremely short times, records the best data correctly and adjusts trading simultaneously. The crash was contributed to electronic and automated features. This was done by orders termed “stub-quotes” that buy stocks at extremely low prices. Dice roll are they would not be the only buyers available of the stock given the unique flash crash conditions, but they were (Laudon & Laudon, 2012).
In this case if better safeguards where put forward such as detective managerial controls where recognizing occurring situations occurred; hence stopping the ability of computers to move forward of the aforementioned occurrences much would have been prevented. There should also be controls stopping the deletion of such large amounts of contracts at once; some type of cutoff period, which may have helped prevent this. Piloting Valero with Real-Time Management: When developing Valero’s Refining Dashboard, such considerations are required to be conceived in areas of management, organization, and technology.
These areas included refining costs, inventory levels, and plant performance compared to performance expected. It’s SAP Manufacturing Integration and Intelligence application analyses which stores plant production history in relation to the current monitoring, and reducing energy consumption, while still maintaining production targets (Laudon & Laudon, 2012). Real-time performance figures that are displayed on the plant’s dashboards are in relation to the plant’s reliability of equipment, inventory management, safety issues, as well as energy consumption.
By sharing collected data obtained by the dashboards regarding equipment performance and energy consumption ideas may be innovated to best decide how to reduce energy consumption whilst still meeting performance standards (Laudon & Laudon, 2012). To operate and maintain refining dashboard systems to monitor energy consumption and refining levels the Valero dashboard draws data directly from the firm’s SAP Manufacturing Integration and Intelligence application which records from Valero’s past as well as present production levels (Laudon & Laudon, 2012).
Valero’s dashboard systems have given to such successfulness that Valero is developing separate dashboards to show enumerated detailed statistics on power consumption for each unit of its firm and production plants. By incorporating the data between each, managers can better utilize the data in aiding them to reduce energy consumption while still acquiring their plant’s production refining production goals (Laudon & Laudon, 2012).
Even though Valero’s dashboards records are refining amounts and energy consumption, certain determinations are not addressed such as up to date product innovations, sales and marketing figures, or any of the other many areas influenced by innovations which affect refining and energy consumption (Laudon & Laudon, 2012). References Laudon, K. & Laudon, J. (2012). Management information systems: Managing the digital firm, (12th ed. Chap. 11, p. 429-430). Upper Saddle River, NJ: Pearson Education. Laudon, K. & Laudon, J. (2012). Management information systems: Managing the digital firm, (12th ed.Chap. 11, p. 439-440).
Upper Saddle River, NJ: Pearson Education. Laudon, K. & Laudon, J. (2012). Management information systems: Managing the digital firm, (12th ed. Chap. 12, p. 476-477). Upper Saddle River, NJ: Pearson Education. Ori (2012). ARE 2012 is Over! More than 30 hours of augmented reality goodness on video. Retrieved from http://augmentedrealityevent. com/category/are2012/. Tode, C. (2011). Maxim embraces augmented reality to bring cover model to life. Retrieved from http://www. mobilemarketer. com/cms/news/software-technology/13497. html.