Use of computers in Business

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Use of computers in Business

Category: Essay

Subcategory: Classic English Literature

Level: College

Pages: 1

Words: 275

Use of Computers in Business
Use of Computers in Business
In the contemporary world of business, almost all the companies that operate on large scale generate their forecasts using similar systems. For those organizations with large volumes, having the computer-based forecasting packages makes it advantageous to them. The packages make it easier and faster for the business to do the analysis and produce estimates of multiple aspects with the large volume of data (Kraemer, Dedrick, & Yamashiro, 2009). Relatively, it makes use of fewer resources due to the less time spent. This saves on the cost the business uses in assessing large data volumes such as sales, profits, and expenses. Finally, the packages increase the level of accuracy in forecasting since it utilizes the historical information effectively.
On the other hand, the use of computer-based forecasting packages in the business forecast is associated with some disadvantages. Mastering the usage of this system for projection is very involving and often takes a long time (Lewis, 2011). This required high-level training which then uses extra resources making the whole process expensive. The method used in the computerized forecasting does not consider the uncertainties that may occur which may blindfold the business to fail to plan for contingencies. Finally, if the person handling the system is not accurate enough, the forecast may be misleading to the company.
After implementing new computer-…

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