5.9 Management and information systems: Advantages and Disadvantages

🧠 Artificial Neural Networks (ANNs) - Advantages:

Can process huge datasets quickly and accurately. Great at pattern recognition and predictions (e.g., fraud detection). Learns from data without being explicitly programmed.

🧠 Artificial Neural Networks (ANNs) - Disadvantages:

Complex to develop and requires large amounts of data. Lack of transparency — often called a 'black box' (hard to explain decisions). Expensive to implement and run.

🗄 Data Centres - Advantages:

Reliable storage and backup for vital business data. Supports cloud services and online platforms. Centralized control improves security and maintenance.

🗄 Data Centres - Disadvantages:

High energy consumption and environmental impact. Expensive to build and operate. Vulnerable to physical damage or cyberattacks without strong safeguards.

😎 Virtual Reality (VR) - Advantages:

Highly engaging for training, marketing, and product development. Can simulate dangerous scenarios safely (e.g., flight or surgery training). Creates immersive customer experiences.

😎 Virtual Reality (VR) - Disadvantages:

Expensive hardware and software requirements. Limited accessibility for some users. May cause discomfort (motion sickness) or be seen as gimmicky.

🌐 Internet of Things (IoT) - Advantages:

Enables automation and real-time monitoring (e.g., inventory, supply chains). Increases efficiency and reduces human error. Improves customer experiences through smart products.

🌐 Internet of Things (IoT) - Disadvantages:

Security risks from more connected devices. Complex integration with legacy systems. Raises privacy concerns (constant data collection).

🤖 Artificial Intelligence (AI) - Advantages:

Increases productivity and efficiency in repetitive tasks. Enhances customer service with tools like chatbots. Provides insights through advanced data analysis.

🤖 Artificial Intelligence (AI) - Disadvantages:

High upfront cost and technical complexity. Can replace human jobs, leading to ethical concerns. Risk of biased decisions if trained on flawed data.

📊 Big Data - Advantages:

Uncovers trends and patterns that improve decision-making. Helps personalize marketing and customer experiences. Supports innovation and strategic planning.

📊 Big Data - Disadvantages:

Requires advanced tools and skilled analysts. Risk of data breaches and privacy violations. Can lead to “information overload” without proper filtering.

🛍 Customer Loyalty Programmes - Advantages:

Encourages repeat purchases and brand loyalty. Gathers valuable data on customer behavior. Creates emotional connection with the brand.

🛍 Customer Loyalty Programmes - Disadvantages:

Can be costly to set up and maintain. Not always effective — may attract deal-seekers only. Raises data privacy issues if not handled transparently.

📋 Digital Taylorism - Advantages:

Improves efficiency through performance tracking. Identifies underperformance and productivity trends. Can help in setting clear goals and targets.

📋 Digital Taylorism - Disadvantages:

May lower employee morale and trust. Raises ethical concerns around constant surveillance. Risk of reducing creativity and flexibility in the workplace.