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Management Information Systems IP Four - Essay Example

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Management Information Systems IP 4 Name: Institution: Management Information Systems IP 4 Introduction Management Information Systems (MIS) has been a concept that has evolved over the years from the first concept that was laborious to use. The evolution occurred when there was the understanding that information is the outcome of data analysis…
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Download file to see previous pages The other is flash crash: machines go wild case study where the market equity in a flash, plunged to a historic low. The third is the Piloting the Valero with real-time management case study in which the Valero, a Texas-based oil refinery needed a system that could be able to display real-time data about issues concerning the plant. Reality Gets Better Case study Virtual reality is a three-dimensional space, which is a computer generated interactive space. Virtual reality immerses its users in the virtual world while the augmented reality keeps in touch with the real world. Augmented reality uses any of the three major display techniques to be able to achieve the blend of reality mixed with real-life images and graphic effects. The display techniques are hand held displays, head mounted displays that provide the virtual environment and shut out the real world, and spatial displays that mount graphical information on physical surfaces. It has been used to improve marketing in the sense that it helps involve the customers and is able to communicate to the customers in an interesting and interactive way with relevance to them. In 2009, Esquire magazine was able to use this in their advertising where they added several stickers, which had designs that had this ability. When held up to a web camera, it started interactive video segments featuring the issue’s cover, Robert Downey Jr. (Ovide, 2009). In image guided surgery, a CT scan and MRI provides the necessary data that is superimposed on the patient in the operating room. In real estate, this has been employed to help the user find information they need on the go, since smart phones have GPS, cameras and internet. Therefore, one can just point their phone on a building and the value of the building per square meter and a small photo accompanied by a live image project from the phone’s camera, hence provide real estate information on the go (Macintosh, 2010). Flash Crash: Machines go wild case study The U.S stock markets on May 6, 2010 experienced a sudden and quick plunge at 2:42 PM, which left Dow Jones 600 points down. Twenty-five minutes later, Dow had gained almost the points it had lost. This flash crash appeared to have happened when a single mutual fund company engaged in abrupt selling activities that caused a chain reaction. The high-frequency traders HFTs are the ones now doing the work that the stock specialists used to do, including the matching of buyers and sellers efficiently, which the market makers did. In a case where the algorithm cannot handle the complexity of the event, a flash crash occurs. The algorithm in the case of Overland park on May 6 dumped 75,000 contracts and was instructed to sell them with disregard to price and time, and continued to sell and the prices dropped sharply. It would normally take five hours to sell them but this took twenty minutes (Bowley, 2010). The NYSE activated circuit breakers where the trading traffic is shifted to human stockbrokers intended to slow the trading process and to avoid the plunge (Bowley, 2010). Electronic trading simply showed that it allows the flash crash to occur over a short period of time and is able to amplify sudden market moves, which can go either side and happen faster with minimal chances of intervention (Henderson, 2009). Piloting the Valero with real-time management Valero energy is one of the largest oil refineries in the US, ...Download file to see next pagesRead More
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