THE IMPORTANCE OF THE APPLICATION OF INFORMATION SYSTEMS FOR BUSINESS DECISION MAKING IN COMPANIES

Univerzitet u Istočnom Sarajevu, Saobraćajni fakultet Doboj, Republika Srpska, Bosna i Hercegovina
Bosnia and Herzegovina

Univerzitet u Istočnom Sarajevu, Saobraćajni fakultet Doboj, Republika Srpska, Bosna i Hercegovina
Bosnia and Herzegovina

Univerzitet u Novom Sadu, Tehnički fakultet „Mihajlo Pupin“ Zrenjanin, Srbija
Serbia


Abstract

At a time of the coronavirus pandemic as well as the fourth industrial revolution - Industry 4.0, a major challenge for companies is to achieve and maintain market competitiveness. This paper explains the importance of applying information systems (IS) to business decisions in companies, in order to make the best solutions that would improve business performance and competitiveness of companies in the market. The results of the research show that information systems and decision-making affect the performance of business in a transitional economic environment. Within the company, information systems that act as business information systems (subsystems of procurement, business planning, marketing, development) have a more important role in making business decisions than transactional data processing systems. In order to anticipate the challenges posed by market globalization and achieve market competitiveness, companies must operate in accordance with new technologies on a daily basis, and their business strategies must be based on quality, productivity and innovation.

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References


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