Digital Economy SETU 2023

 Hi all, this week I have undergone learning how to use a CRM and also earning credentials from 'Salesforce'.  One of the first courses I took on Saleforce's Trailhead was the "Build a Data Strategy for Data Cloud".  This unit focuses on putting customers at the centre of your data strategy and architecture , which ultimately drives your company's approach to managing customer data. A well - formed data strategy can help achieve specific goals, such as gaining a 360 - degree understanding of customers and fine tuning your product line and services. It also focus on Data Cloud for marketing, a platform designed for marketers to create connected experiences. It covers ingesting raw data from various sources, cleaning and transforming data, identifying and unifying customer information and much more. It gives the history of marketing data collection and storage, highlighting the need for data driven marketing and how the 'Five Forces' are pushing marketer...

 Hi everyone, this week we are focusing on successful enterprise applications. The implementation of ERP systems involves installing the software and ensuring the team is making the most of the technology. Here are some examples of company's who have successfully used these systems to support their business. 1. Fulton & Roark F&R are a retailer of mens grooming products. Their strategy is to move from a handful of outlets to a main focus on e commerce. Prior to upgrading to the full featured ERP they tracked their inventory on a spreadsheet and used the accounting software Sage live. When they started to double sales year after year they found their systems could not keep up. To centralise their work into one place they implemented NetSuite ERP. The instantly noticed the positive changes this system has made as they were able to catch and correct any bookkeeping errors that were made, stop working with any external accountants, increase sales by roughly 50% each year withou...

Hi all, this week I have looked into the implementation of information systems in business. Although you may see this as an upgrade for a company, there is also many struggles they face when imposing these systems.  1. Inadequate Training Training should be one of the most important factors when implementing new software. Employees need to understand how to utilise the software for the day to day running of the business. The project team must communicate frequently and accurately with employees by making an on - boarding plan to get employees up to speed and to use the features with confidence. An example of this process not being carried out correctly is with Nike and their supply chain issues in 2021. They stated that their employees were not adequately trained before the system went live. With some other software issues, this caused Nike to lose $100 Million + in revenue as well as lawsuits and a 20% drop in stock. Related Nike article:  Nike Supply Chain Issues 2. Misalign...

 Ireland as a Digital Economy Ireland is a rich country, with a GDP of $504.2, with a young median age of 38.8 and hooked on big tech with Microsoft and Apple included in the multinationals who provide one third of total employment in terms of pay. Why do these multinationals thrive in Ireland? Skilled Workforce Ireland has one of the most educated work forces in the world with over half of 25-34 year olds have a third level education, which is well above the EU average of 40%. Irelands education system ranks in the top 10 globally for quality. Irelands colleges and universities provides education that meets the needs of a competitive economy. Government Investment Irish Government invested €802.2 in research and development in 2019. Much of this investment goes  towards tech innovation, such as the  Disruptive Technologies Innovation fund  and funding for centres such as the Tyndall National Institute and the Irish Centre for High-End Computing. Tax Incentives Corpo...