Page 5: Information Technology
Information technology includes the use of three electronic technologies:
- computing hardware
- telecommunications and networks
and the way they gather, store, process and distribute information.
Computers handle and process data. The data which is provided requires a context and therefore it is only when data is processed in a particular way, for example added together or viewed as percentages, that it becomes information. Such information is used by organisations as a basis for decision making. Operationally which means in the short term, or strategically meaning in the long term. Information should be:
- up to date
- readily available
- user friendly.
The information technology infrastructure at Morgan Stanley Dean Witter has been developed over the last 15 years. Most of its information technology solutions have been implemented strategically, to meet the perceived needs of the organisation's five year strategic plans. Additionally, because of the complexities of global financial markets, some of the solutions have been developed re-actively to meet operational needs.