In the business world today, technology is becoming an essential staple. Every big business relies on it one way or another. More importantly than just technology itself, the use of management information systems is what guides a company in terms of catering to its customers and knowing what moves to make next. Management information systems (MIS) can be defined is the study of people, technology, and organizations (What is MIS?). However, that is a very general definition because there is a lot more that comes out of the use of these MIS systems. The data and information collected is used to improve the company’s operations and to serve the staff, managers and customers of the company the best that they can (What is MIS?). Management information …show more content…
In 1995, Target began offering credit which was known as the Target Guest Card (Target Through the Years). This was a big step for the company in establishing customer loyalty and relations through the use of technology. By 2004, the cards were renamed REDcards and were able to create data portfolios to help Target figure out product demands and create different routes to satisfy their customers even more (Target through the Years). This was a huge step for Target and their use of technology to better their …show more content…
The system Target uses for its website has been very helpful in putting them at an elite spot in resolving customer issues. For example, its MIS system has a way of collecting a customer’s actions on their site as they shop. That way when they run into a problem and call for support, the call center representative will most likely already know and have information readily available to help the customer and resolve their issue (Vijayan). Target began using that system in 2001 as its new CRM (Customer Relationship Management) system. This system is proof of the efficiency MIS brings to the table for large corporations like Target. To build this new CRM system, they had to merge 20 different databases into one multiterabyte repository with 50 million unique customer records, and used enterprise application integration tools, messaging middleware, rules engines and Java application server technology to integrate applications and transport data between various applications and the database
For example credit card transactions and security breaches have occurred which have cost the company million of dollars. Target Corporation must do a better job of securing its data to prevent future loss in profit, sales, and stock values.
Target Corporation is among one of the largest retailers in US with its headquarter located in Minneapolis, Minnesota. The company is recognized within the top 500 most valuable brands as of 2012 as well as the top 25 retail brands in 2012 (Target Corporation SWOT Analysis, 2013). Target took birth on May1, 1962 as a “new idea in discount stores”. Gregg W. Steinhafel is the current chairman, president and CEO of Target (www.corporate.target.com). The company has a vast product offerings such as- household essentials, including pharmacy, beauty, personal care, baby care, cleaning, and paper products; hardlines comprising music, movies, books, computer software, sporting goods, and toys, as well as electronics that consist of video game hardware and software; apparel and accessories, such as apparel for women, men, boys, girls, toddlers, infants, and newborns, as well as intimate apparel, jewelry, accessories, and shoes. It also provides food and pet supplies, including dry grocery, dairy, frozen food, beverages, candy, snacks, deli, bakery, meat, produce, and pet supplies; and home furnishings and décor, such as furniture, lighting, kitchenware, small appliances, home décor, bed and bath, home improvement, automotive, and seasonal merchandise comprising patio furniture and holiday décor (www.finance.yahoo.com). It has 1,921 stores with an approximated labor force of 361,000 fulltime and part-time employees. Target reported revenue for 2012 was $73,301 million with a 6.1% increase in total sales (www.investor.target.com). Targets global expansion limits to India and Canada for now with 37 distribution centers. It is also aggressively penetrating the online market via offering its products and services on the official website. (www....
Target Corporation has developed many strategies to enhance its long-term growth prospects, particularly digital capabilities with a significant investment in technology and supply chain and repositioning healthier, fresher grocery that young and other shopper prefer (Target Roadmap, 2015). Target Corporation leverages opportunities such as a promotion of a brand name, promotion of store credit card discount appreciating customer loyalty and positions the store
Target is friendly, neighborhood store for many people. Because of this store’s long hours of operation, wade range of products and polite customer service it became my super store too. The first Target store was opened in 1962 in Minnesota (“History”). Since then, Target grew and became the second largest discount retailer in the United States, trailing only Wal-Mart Stores, Inc. (“History”). Target has distinguished itself from its competitors by offering fashionable, modish products at affordable prices. The company owns and oversees its e-commerce initiatives. Target founded its first on line services under the domain: target.direct as a partnership with Amazon.com in 2000. As of August 23, 2011 the company separated and changed its online operations and it has been known as Target.com since. The big red bullseye became Target’s logo for every store and online sites and “Expect more. Pay less” became its motto
By the end of the fiscal year of 2013 Target had over 1,778 stores in the United States. Target’s presence is very well known throughout the US and it is one of their biggest strengths. They recorded above their top retail competitors in revenues, having a revenue of $73,301 million in 2013. Since Target is so large they have the ability to influence suppliers in prices, which in turn lowers the prices of their products for their customers. Another strength of Target is that it has developed over their years of operation a certain type of differentiation from stores such as Walmart. They do not market their products as always being the lowest price, but instead “affordable yet stylish.” They have launched designer collections, the first being in 2010 by partnering with Liberty of London. Along with designer collections they started allocating space within their store to certain boutiques to give their store that upscale look and feel. Target’s biggest opportunity laying in front of them is their food and grocery segment of the sore. Along with that they can see great increases in revenue by expanding their e-commerce site target.com. Target’s biggest threat is the ever growing online market. Products are being bought more online as time goes on. Along with online competition, Walmart and Target has seen their number of price wars on the same product. Target very rarely benefits from this type of action. Amazon has been on top of the industry in selling products online and with rising labor wages this is only hurting
Target has been involved and engaging with customers on social media platforms such as twitter, facebook and linkedin totaling for a social audience of 138,441,927 as of May 19, 2014 according to Lucy Hitz publication of simply measured. Target is allowing Customers to see promotions voice concerns and experiences and get a better view on the organization standing in current debates or news. For example, gay rights, national disasters, public concerns. Furthermore, Target has been actively since early 2012 innovating the mobile application market to create a platform for customers to save money with the cartwheel application on mobile devices, the target app which enables customers to shop online, view ads and plan shopping ventures. Targets approach to the social media market is the difference that separates them from their competitors such as Walmart, Sears and other major retail chains. In financial terms, Targets social media has provided mass sales growths throughout the years. For example in 2015 Target aired a black friday ad that was seen almost 3 million times and generated over 7 thousand comments and 820 shares. Furthermore that season Target 3.14 percent of customer traffic with Target was generated from the social media network ads with a 34 percent sales
Target’s Mission Statement is to make Target the preferred shopping destination for guests by delivering outstanding value, continuous innovation and an exceptional guest experience, and consistently fulfilling our Expect more. Pay Less. Target positioned
“Target Provides a Surprise” is mostly about the consumer’s shopping habits. Every time you go shopping at the store, the retailers will ask you to share intimate details about your buying’s habits. Afterward, the retailers will analyze and collect your personal information to figure out things you like, need, advertise and provide incentive to you. Target is one of the stores like that; it sells everything because Target wants to satisfy its customers. It is tough to change customers’ shopping habit, but a person’s life will be changed in the period of time.
Management information systems can be used as a support to managers to provide a competitive advantage. The system must support the goals of the organization. Most organizations are structured along functional lines, and the typical systems are identified as follows:
Target allowing a third part to use sales data and consumer information, gives them the opportunity to create a strong marketing strategy and increase revenue at a minimum cost. While Global consumer marketing and consulting firm could create a long term relationship with Target Corporation if this partnership yielded positive results. Furthermore, showing other high level organizations to see the impact they have on Target Corporation and see a need for that same plan for themselves creating revenue growth thought positive credibility and results. However, the use of consumer personal information from consumer view, could lead to identity theft, breach of privacy and other security concerns. Possible causing consumers to shift their loyalty and business elsewhere. In conclusion shareholders and other partners to Target could suffer a loss in profit and reputation due to the tainted view in consumers, especially with not holding their promise not to sell or share personal data, the loss of consumers becomes a high risk (Hooker J, 2008).
Ackoff identifies five assumptions commonly made by designers of management information systems (MIS). With these assumptions, Ackoff argues that these assumptions are in most cases not justified cases, and often lead to major deficiencies in the resulting systems, i.e. "Management Misinformation Systems." To overcome these assumptions and the deficiencies which result from them, Ackoff recommends that management information system should be imbedded in a management control system.
Companies are beginning to move their CRM application out of data centers and onto the cloud making CRM less expensive and easier to expand. (Shein, 2009) Technology advances are also allowing companies to begin to take better advantage of big data, combing internal data with social media and mobile to deliver more business value. (Goodwin, 2013) In the future, more devices will be connected to the Internet. Cars, buildings, bodies and many other things will be connected through sensors and it is expected that this increase in information will continue to drive the changes in CRM and how it is used to support sales, marketing and customer service. (Sartain,
Asemi observe that Management Information System (MIS) is one of the information systems that is computer based. Besides, Asemi defines MIS as “an organizational method of providing past, present and project information related to internal operations and external intelligences. It supports the planning, control and operation functions of an organization by furnishing uniform information in the proper time frame to assist the decision makers,” (2011). The aim of MIS is to satisfy the general information need of the entire manager in an organization. Before the advent of computers, the process of decision-making was one that was full of built-in advantages and ad hoc methods. Computers technologies have changed the landscape of the decision-making process completely by making the process less demanding and easy to undertake. The reason for this situation is that information technology has made access to information more automated, efficient, effective, timely, and less ambiguous. Consequently, the ordinary t...