#6 ICT Applications

advantages of using models

1. less expensive

2. safe

3. allows you to try out different scenarios

4. faster

disadvantages of using models

1. not entirely reliable

2. can be costly

3. human reluctance

personal finance

uses algorithms to simulate financial scenarios (investment, retirement) which helps them to make decisions that meet their financial goals

bridge & building design

analyzes structural behavior and load capacity to improve designs and ensure safety

flood water management

simulates water flow and predicts flood risks to design mitigation measures and emergency responses

traffic management

analyzes traffic flow and congestion to improve road networks and signal timing

weather forecasting

simulates atmospheric and oceanic conditions to predict weather patterns and issue hazards warnings for public safety

advantages of using computer modelling instead of humans

1. more precise and accurate

2. analyzes large amounts of data faster

3. reused and updated easily

disadvantages of using computer modelling instead of humans

1. may look over small details

2. based on assumptions

3. may struggle to adapt to sudden changes

computer-controlled school management system

comprehensive software application that automates administrative tasks (attendance tracking, grading, scheduling, student info management), improving educational institutions' efficiency, accuracy, and organization

computer-controlled school management system advantages

1. easier to address absenteeism

2. parents are updated

3. reduced workload for teachers

computer-controlled school management system disadvantages

1. requires training to operate it

2. initial cost is high

3. safety needs to be good, due to personal information

learner registration and attendance

1. id cards with magnetic tapes

2. biometrics

advantages of biometrics

1. prevents attendance forgery

2. id cards can be easy to lose/steal/clone

disadvantages of biometrics

1. time-consuming to collect fingerprints

2. expensive to read fingerprints

3. can’t be read if finger is injured

4. invasion of privacy

learner’s performance

can be recorded with spreadsheets

online booking systems

1. travel industry

2. concerts

3. cinemas

4. sports events

advantages of online booking systems

1. convenient, cheaper, instant

2. can compare prices

3. promotions/personalized offers

4. automated reminders

disadvantages of online booking systems

1. technical/security issues

2. extra charges (transaction, booking fees)

3. no customer service

4. needs a stable internet connection

5. can lead to unemployment

automated teller machine (ATM)

a machine where customers can get cash/carry out banking activities using their credit/debit card

atm sequence

Insert & Connect → Verify → Select → Check Funds → Approve → Finish

advantages of atm

1. can withdraw/access anytime/anywhere

2. don’t need to go to bank as it offers many banking services

3. quicker compared to bank

disadvantages of atm

1. placed in area where theft could occur

2. shoulder surfing

3. some banks charge customers for using ATMs

4. cash withdrawal limits

electronic funds transfer (EFT)

Initiation → Authorization → Processing → Transfer of Funds → Confirmation

advantages of eft

1. secure/quick payment method

2. cheaper than cheques

3. the customer can report wrong EFT payment under 60 days

disadvantages of eft

1. bank transaction can’t be reversed without dispute investigation

2. customer must have the money needed

3. might not know recipient’s identity

advantages of credit card

1. customer protection if ordered goods don’t arrive

2. accepted everywhere

3. interest-free loan, if money is paid back within time period

4. can make purchases online

disadvantages of credit card

1. can be charged high interest rates

2. annual fees

3. easy to end up with credit damage

4. security risks in online transactions

advantages of debit card

1. no interest, money comes from the user’s account

2. safer than carrying cash

3. can make online purchases

disadvantages of debit card

1. less customer protection if goods don’t arrive

2. no credit allowed, funds are needed at the time of purchase

3. security risks in online transactions

cheque

paper documents used to pay people or businesses

• payer writes the details, recipient gives it to bank, bank checks the funds, and transfers the cash

advantages of cheques

1. safer/easier to carry than cash

2. can hold the payment until later

3. easy to track if lost

disadvantages of cheques

1. sellers can legally refuse to take them

2. slow

3. easier for fraudsters

4. expensive

advantages of internet banking

1. available anytime, anywhere

2. easy to manage

3. higher interest rates

4. Easy to compare and find better accounts.