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I Don't understand this AS ICT homework question, help please?

The question is worth (3) marks. I don't understand the question or how to answer it. Here it is: "The owner of a tool hire company is moving over to using an ICT system for recording loans and returns of equipment. As well as recording information about the loans, the customers and the tools, the owner would like management information that would enable him to run the business more profitably."

"Explain by giving an example applicable to his business, how management information could make his business more profitable."

All help is appreciated. Thank you. (:
Reply 1
Avatar for alex-hs
alex-hs
16
He could use historical hiring data to see which days are busiest and adjust staff rotas accordingly. Stuff like that... just make it up and try to sound convincing.
Reply 2
Avatar for Bladescope
Bladescope
Agreed.

Management Information can include (as mentioned) busy periods, staff rotas, trending/popular loans, repeating orders and stock monitoring (if you don't have enough stock available at any point to satisfy a client's needs, you are losing a potential sale!)

If you break down the question, management meaning overseeing the business and information meaning useful data, you should be able to think of different statistic sets that could be taken from the data and used to improve the business' profits.

For real world examples, search for a tool hire company and see what data they might take or use and how you could use that.

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