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Reality Gets Better

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Submitted By christyc0504
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Unit 4 IP
Christina Connell
MGMT305-1104-01
AIU Online

Reality Gets Better
What is the difference between virtual reality and augmented reality?
Virtual reality computer programs are designed to simulate real life. The user wears special clothing and head gear that allows them to be completely immersed in the program. The clothing helps them to navigate through the system because it takes the body movements of the user and communicated that to the computer. For example, if you are taking a virtual tour of a house and you want to walk to the next room your feet moving communicate to the computer the direction to take you.
Augmented reality is technology that allows the user to enhance visualization of reality. It takes real life images and enhances them with graphics to give the user a different perspective of reality. A great example of this is used in the medical field. During surgery they can use augmented reality software to superimpose ultrasound images on the patient to help the surgeon know where the problem is. Of course it is used in our everyday or at least every weekend life when we watch sports and they show those lines on the field showing where the first down goal is (Laudon, 2010).
Why is augmented reality so appealing to marketers?
Marketing is a business that is all about appealing to the customer. How do you get the attention of the consumer? You have the flashier ads and the attention getting signs. How about having the newest technology available to consumers? Augmented reality is a new technology and is just beginning to be available in areas like marketing. The applications for this technology are fast becoming available on mobile phones, which are the essential tool of anyone on the go.
What makes augmented reality useful for real estate shopping applications?
Real estate is going to be a business that can really benefit from this technology. Currently, if you are looking to buy a house and you drive by one for sale, you have to stop and hope they have a flyer in the box. If not you must call the number and it usually takes you to an automated menu where you put in the listing number, oh that has not been updated so you leave a voicemail. With augmented reality you would have the power to use your mobile phone to get the specifics on the house like square footage and other details by simply holding up your phone and using the camera on the house. It could give you information like property value and school zones, nearby restaurants and stores (Laudon, 2010).
Suggest some other knowledge work applications for augmented reality.
One really good application for augmented reality would be for travel agencies. They could add this technology to the brochures and it could give you testimonials of past visitors. They could suggest sights to see or restaurants to try. You could also compare hotel rates and recommendations from previous guests. The biggest problem when you visit new place is knowing what is worth the time and money to visit and what is going to be disappointing.
Machines Gone Wild
Describe the conditions that preceded the flash crash.
The market was already down 300 points for the day. When the mutual fund company had their system start selling their futures it dumped them on the market too fast. The ideal situation for this system would have had the process take a few hours but the system did the transactions in 20 minutes. This caused a chain reaction of other computer systems that reacted to the sudden sales to the system. This caused other HFT systems to start selling the stocks that prices dropped and this created all sellers and no buyers. This led to what they call stub quotes, which are offers to buy stock at super low prices (Laudon, 2010).
What are some of the benefits of electronic trading?
The benefits of electronic trading are that these programs can be created to calculate data at a very high rate of speed. This allows the program to run calculations and learn what works for the buyer or client and trade stocks accordingly. The computers can do in minutes what would take human days to accomplish.
What features of electronic trading and automated trading programs contributed to the crash?
Computers can only do what they are programmed to do. After this incident the programmers need to adjust the programs to look for these kinds of patterns and make judgments on them being a real issue or just an influx of orders.
Could this crash have been prevented?
It could have been prevented if the software programmers had thought of this situation or put some kind of safety in place that would make the program pause before dumping stocks that make too significant of a price drop too fast.
Piloting Valero with Real-Time Management
What management, organization and technology issues had to be addressed when developing Valero’s dashboard?
Mangers had to learn how to use the software. It was made available to them remotely and they had to be ready to answer for any deviation from the business plan. The organization had to decide what information was needed for the dashboard. The information had to be related to equipment reliability, inventory management, and safety and energy consumption as well as production levels. The technology needed for this system was to have the program tapped directly into the SAP Manufacturing Integration and Intelligence system. This holds all the data from previous production history and current production data. The system had to have the power to update the figures every five minutes so that the managers had the real-time data (Laudon, 2010).
What measures of performance do the dashboards display?
The dashboards display the plants equipment reliability, inventory management, safety information, and energy consumption. Management would be able to make decisions on sales, buying products, replacing machines or repairs. They could also try different energy conservation techniques and share the results with other managers to see which technique will save the company more money. It also allows them to make project management decisions because it allows them to see the production down to the bottom line (Laudon, 2010).
What kinds of information systems are required by Valero to maintain and operate his refining dashboard?
The IS systems that are required are the SAP Manufacturing Integration and Intelligence program. They need the web to make it accessible to managers remotely.
How effective are Valero’s dashboards in helping management pilot the company?
Valero’s dashboards are effective for management to keep an eye on the company. There are however, many more aspects of the business that they are not able to see with this information. They need to be able to give them sales and marketing information. It does not help them to keep up with product development trends. These are areas that a company has to keep up with in order to stay ahead of the competition.
Should Valero develop a dashboard to measure the many factors in its environment that it does not control?
He could input these into the system but it may make the system too much. It would be like trying to read the encyclopedia at a glance. Maybe he could just put in a warning system that will alert the managers when a significant change has occurred in prices or sales.

References
Laudon, K. & Laudon, J. (2010). Management Information Systems: Managing the Digital Firm (12th ed). Upper Saddle River. Pearson Prentice Hall.

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