Issues Related to Information
Information could be outdated- The information that you have received could be outdated and this could be bad because this will mean that you wont be up to date with what other companies are offering to their customers and this could mean that the new customers will be thinking that your company wont be offering them nothing new compared to other banks.The problem with this is that there is many new things coming out to help with furthering your company in different departments and if you don't keep the research updated you will miss out many things that could help including new software's and security to protect you from new viruses and speeding up your services. The way you stop the data from becoming outdated is by analyzing the data every week and make sure that the research team will be researching the information every couple of weeks so that it keeps updated, this will also mean that outside of work hours they will need to keep up with the information about new information about new products.
Could be inaccurate- If the Information is inaccurate and doesn't deliver the right information, your whole project could slow down and be far behind on many different companies.This will mean that if you don't get the correct information your business could fail to meet other deadlines just because the data was outdated and inaccurate so that it wouldn't help the company and that it will take double the time because you will need to send another research and tell them precisely to get the correct the information. Another problem with the information being inaccurate is that if tell the customers that they will get something good if they join or if you say there will be a new feature on this system compared to other banks systems and there isn't many of the customers may leave because you lied about what they will get or what new feature there is because then they may believe that you are an unreliable bank. The way you can make the the information accurate is to make sure that your research team knows exactly what they need to research and also create charts and reports to find out the numbers of how many people will want the feature and to find out the benefits and the constraints of creating the system.
Back Ups- Back ups will ensure that you have a spare copy of the work that you have created and this will make sure that you don't lose your work.If you don't back up your work you could lose all of your work and you will have to start all the way from the start, if you do back your work up you will have many copies and you will be able to protect it if a disaster happens such as a earthquake or something such as tsunami happens and your offices and the place where you had your data got destroyed and you didn't have a back up your data would be destroyed.The way you can stop this from happening is by having a back up and you can do this by having a hard drive where your work would be saved on this will allow you to have a copy of the work so that hopefully you will never lose your work and that it will always be protected.There is a negative to having a hard drive to because if you drop it, it could get corrupted, so a better way to protect your data could be online clouds were you can save the data on the internet.
Cost- Cost will be a major issue because it will allow you to create more systems to help with the companies organisation and many other things however it will cost you a lot of money installing the new systems, creating new databases, testing of the system and also the training of the staff. These will cost your business a lot to create these new systems however your business will need to do them so that they will stay protected with the latest protection software's and then they will also need to spend money on making improvements to what issues the users have been having.
The problem with the cost is that it will cost a lot of money to update them and if you over spend on the system it could bankrupt you and your business may have to close down. To Stop this from happening you can make cost benefit analyses and you could also make cost management which would allow you to get estimations on how much the products and systems and server would cost to run.
Legal Issues - The data protection act will protect customers when using the bank. The data protection act will also allow the owner of the data to tell someone if they are allowed it or not, this will mean that people will not be allowed to obtain or use the data without the owners permission.The data protection act will also try to make the people that are using the data to tell them to keep it up to date,this will mean things such as the phone number, address and even things such as gender.Another legal issue is that of Computer Misuse act is an act that will protect you from hackers that will try to hack for information, the act was introduced in 1990 so that users will receive protection.
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