Your Company's Management of Data and Knowledge section and the Your Company's Use of the Internet section

Your Company’s Management of Data and Knowledge

Data Management System

The business will use the system for the storage, manipulation, and management of its data. Such data include fields name, format, file structures in the database environment, and records. This will ease the process of storage, fetching, and manipulating the data while still in their storage files. The current system is used to simplify the accessibility of information for references.

 Challenges facing the Data System

The apparent challenge that the data management system faces include data breaching. Unauthorized access to the company's confidential information stored in the computer is a vulnerable aspect of management. Also, computer damages or virus attacks typically presents challenges when data stored disappeared. Cyber-attack also is a challenge where essential organizational files can get stolen by hackers.

Procedures for Data Management

Data is researched by the researcher and development team from the ground level. The collected data is then analyzed and verified by the management support to offer information to ensure the organization can provide its needs. The analyzed and verified data, or the information, is stored in the computer files, and back-files are created for security purposes (Leong, 2018). The stored data is made accessible to the authorized users who manipulate the data according to the new findings or changes during the updating process.

Your Company’s Use of the Internet

Effects of Digital Economy

In essence, the digital economy has a significant impact on the business's sales and revenue. The high demands of the digital economy increase the sales and revenue while low needs diminish the sales and revenue. As more organizations demand students with technology information skills and knowledge, the business acquires more customers, and its products and services increase their sales. One essential issue that the organization should consider is security measures to avoid data theft and loss.

Software and Web 2.0 Technologies   

Some of the business's messaging and collaborative software on Web 2.0 include Email, YouTube, WhatsApp, Podcasting apps such as Podcast Alley, and content hosting app. Software such as Email and WhatsApp is used to pass vital information across the organization's stakeholders. Other such as YouTube, Google Docs, and Podcast Alley are used to enhance peers' content sharing.  

E-Commerce Technology

The business uses the technologies to draw aspects such as electronic funds transfer and for payment of services and products. Also, it uses technologies to ease the process of supply chain management and for marketing its products and services to the potential audience. The technologies are also essential for managing the business inventory system and the automated data collection systems.

Reference

(Please provide 2 additional sources for a total 3 source)

Leong, K. K., Yu, K. M., & Lee, W. B. (2018). A security model for distributed product data management system. Computers in Industry, 50(2), 179-193.