Information Technology
It’s hard to comprehend how much Information Technology (IT) pervades and influences our daily lives. Or, more specifically, its practical application in the computers, tablets, and smartphones that we use.
It’s on these devices that we spend a large number of our waking hours while either at work, play, or communicating with coworkers, friends, and family.
What is Information Technology?
Information Technology can be many things and cover many facets of life. Merriam-Webster defines it as, “Technology involving the development, maintenance, and use of computer systems, software, and networks for the processing and distribution of data.”
This definition, however, makes IT seem like a strictly utilitarian tool. In fact, IT is really about innovation.
As stated in Forbes, the true importance and purpose of Information Technology is to “research and develop new technologies in cognitive science, genetics, or medicine” so those advancements find solutions to the problems we all face. It’s that innovation that has allowed for improvement in so many industries outside the sciences.
Business and Information Technology
Winning over clients with great products and making sales are the two main goals of any business. IT has made that process more efficient, easier, and attractive, especially through web marketing. But IT does more than that for businesses.
It also helps automate certain processes, target objectives, generate revenue, and reduce inefficiency. Ultimately, IT assists businesses in achieving three main goals:
- Building and growing commerce in the business sector
- Minimizing the time needed to generate new business
- Adding and providing electronic security, data storage, and efficient communication
These successes are due to the implementation of IT in business where it harnesses its power to create new business processes, which enhance and improve the way businesses work. Thus IT is of profound importance to businesses. Specifically, IT supports the work of the business world in the following ways:
- Allowing for the building of smarter applications
- Improving data storage
- Enabling faster data processing
- Distributing data more widely and efficiently
- Enhancing quality and value, and heightening productivity
With the use of IT leading this innovation, the business world applies that knowledge to create new ways to reach, support, and sell to customers, such as:
- Strategic business planning
- Effective digital marketing
- Higher global sales
- Systematic management
- Real-time monitoring
- Instant customer service
- Online shopping
- Social networking
- VoiP communication
- Cloud computing
Another way IT has helped the business world is in the creation of a new area of employment, the IT department. Because of the influence of IT, many jobs exist and are important for the everyday operations of various businesses around the world. Some of the most essential ones are:
- Data Scientist
- Network Administrator
- System Analyst
- Software and Web developers
- Tech Support
The field of education is an industry of constant technological innovation. With the tools IT provides, teachers and professors can deliver information more dynamic than ever before.
Perhaps the biggest advantage of this is being able to reach more students, especially those who can’t afford or devote the time to a degree program or those who live too far away from schools or college campuses.
New technologies like VR and AR have received positive responses from students and educators, with educators saying that students find that they’re creatively more stimulated, information is more easily retained, and the coursework is more engaging.
- High quality and current information is more accessible
- Students learn much-needed tech skills
- Student performance and participation improves
- Automation reduces repetitive tasks
The Importance of Technology in Banking and Finance
If there are any two industries that are most affected by IT, they would be banking and finance. These two critical industries have been using IT in one form or another since the 1970s.
IT allowed for the growth of small financial firms that do electronic data processing and the creation of nationwide financial services like electronic check and credit card processing. IT has also brought security and stability to how people and corporations access their critical financial accounts.
In the 21st century, banks would likely fail if they didn’t invest in secure information networks and dedicate their brand to an online presence. As for the realm of global financing, IT allows financial institutions to:
- React in a timely fashion to global developments
- Successfully compete against other finance companies
- Track credit scores and credit ratings of their lenders, insurance companies, and businesses seeking viable and financially responsible customers
Social media is another way banks and financial institutions can engage with their customers to understand their needs. This outlet also helps these institutions build brand loyalty. And since younger demographics are the primary users of social media outlets like Facebook, LinkedIn, Twitter, banks and financial firms see their potential for snagging new customers.
Information Technology in Healthcare
The healthcare industry has embraced innovations in IT to have a better relationship with patients and ensure their privacy, security, and confidentiality. Because of the internet, patients can research symptoms and converse with their doctors through email, text, or video conferencing to see if they even need to schedule an appointment or if they can treat their symptoms with over-the-counter remedies.
As a result, IT has improved medical care, reduced patient errors, and lowered health care costs in many ways, including:
- Improving the delivery of accurate medical information
- Customizing information to meet individual patient needs
- Sharing decision making between healthcare professionals and patients
- Providing networks of social support for patients and healthcare professionals
- Allowing for faster, more informed decisions that can impact individuals and the public
Electronic health records and computerized orders have allowed for easier access to care guidelines and resulted in better patient care.
This regulation controls and protects the dissemination of patient information, with layers of security used by IT tools adding a wall of defense against technical predators. So despite this risk, the use of IT in healthcare has improved it. Examples of this include:
- More accurate information
- Customized care for patients
- Improved communication between healthcare providers and patients
- Enhanced medication management
- Easier access to medical records
- Reduced costs from doctor office visits and hospital stays
- Improved record processing
- Enhanced patient privacy and security because of HIPAA regulations