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Answers:
Answer 1:
Just in time Delivery- is an approach of adopting new inventory technique to increase growth and keeps low inventory. These types of strategies involve using of only those resources that are needed in the production process. Due to which efficiency increases and wastage of raw materials decreases. But it should be predicted precisely to get the advantage. A good epitome would be a Ferrari vehicle maker that depends on supply stream of vehicle parts needed to build it. The parts will arrive only when needed not before or after they are needed. (Farlex Financial Dictionary, 2017, p.4)
 
Ecommerce- is an electronic process by which goods and services are bought and sold over the internet. There are three different types of ecommerce. The most common is business to consumer in which transaction occurs between consumer and business merchant. Other one is business to business in which one retailer deals services with other retailer. Consumer can sell products to merchant; this type of ecommerce is known as consumer to business. (Rouse, 2017, p.4)
 
SaaS- is called Software as a Service. Saas is the software licensing and distribution model in which software is licensed and centrally hosted. The applications are hosted by third party and made available to customers on subscription over the internet. Saas is one of the main categories of cloud computing aside IaaS (Infrastructure as a Service) and PaaS (Platform as a Service). By using Saas, organization has the benefit of eliminating the need to install and run application on their own computers. It also cuts down the expenses of hardware maintenance as well as software licensing and support. (Rouse, 2016, p.4)

Strategic planning- is the company’s process of identifying the stated vision or goal and allocating resources to reach the goal. It involves strategically gathering and researching the current status of company and determining how it will impact the future of company. It is an organizational activity in which energy and resources are focused in common path.Supply chain systems- are the type of system in which resources are supplied to customers through a chain of people. It involves coordination between the companies and company itself. Better optimization of operations will maximize speed and efficiency. A supply chain system follows the low inventory. The products are supplied only when needed.  (Rouse, 2010, p.4)

DSS- A decision support system (DSS) is a computer application that supports decision making in an organization by analyzing the data and presenting it to the user in more simplified form. By DSS a user can make better decisions about problems that are underspecified and not well structured. A DSS is a knowledge based system that helps decision maker to accumulate information from raw documents and personal knowledge to solve problems and make decisions. (Anonymous, 2017, p.4)
 
Cloud infrastructure- is basically a type of virtual computing environment in which software resources are shared over internet rather than having your own local servers to handle applications. Infrastructure is build up with software and hardware components like virtual software to run the infrastructure and large storage, this are connected by servers over the network. (Beal, 2017, p.4)
 
0- is a second generation of World Wide Web websites that emphasizes on collaboration and sharing information online for end users. Web 2.0 is the transition of static web pages into more dynamic web pages. These web pages are more organized and are capable of serving web applications to end users. (Beal, 2017, p.4)Extranet- is a company’s intranet that can be partially accessed by users outside the company. Mainly it is a private network that enables systems to share business information between vendors in a secure way. Extranet requires safety measures like user authentication, encryption and use of virtual private network. (Rouse, 2017, p.4)
 
Big data analysis- is the advance technique of handling very large data sets (called big data) to unveil the hidden relations, market trends and other useful information. A large set of data is captured, managed and processed within no delay time. Analysis of data allows researchers to make better decisions using raw data. (Anonymous, n.d., p.4)
Answer 2:-

Data mining is the innovative technology of converting raw data into useful knowledge. From the start of extraction to the end of the presentation, it includes five key elements. For example in my township, community members are willing to forecast the revenue for next year. They need to cover all elements to predict the revenue. Firstly, they will collect the raw data from previous years and load into warehouse. Manage it in relational form. Then the data is addressed to data analyst to look for the revenue generated in previous years. With the help of some application program analyst will generate result in simplified form like in the form of graphs. Thus, community members will have graph of revenue for different years to forecast it for next coming years.                              (Elmasri & Navathe, 2002, p.5)

Answer 3:-

To successfully run the business one’s company needs reserve stock level. It is very significant to the company. In enterprise resource planning reserve stock level involves how much stock is left and forecasting the need to generate more goods. From implementation of objectives to keeping low inventory all depends upon reserve stock levels. If the damages occur in warranty period it can be covered by reserve stock. Reserve stock level helps in maintaining capital and further problems like production of goods at peak demand can be avoided. Thus, reserve stock level is significant in system performance. (Anonymus, 2017, p.5)

Answer 4:-
As the Liberty Wines business expanded, IT facility could not handle the increased data volume. Due to this system got slow and required greater maintenance efforts. This affected their core business processes like order processing and loss in employee productivity.
 
Lack of IT infrastructure negatively impacted the competitive advantage of Liberty Wines. Few numbers of servers couldn’t process bulk orders in time. Thus, resulting in loss of customers. This incurred losses to the company. (Rainer & Turban & Potter, 2001, p.5)
 
To overcome the problem of slow servers Liberty Wines came up with the idea of virtualization. It deployed a virtualized server solution that reduced physical servers from ten to four. This resulted in faster access to applications thus, resulted in growth in productivity. The reduction in servers leaded to low consumption of power supply ultimately reducing the carbon emission to the environment.
Answer 5:-
Financial institutions data report submitted to FinCEN were not up to the standardized mark and report didn’t follow all the rules of the data models. FinCEN didn’t have the abilities to carefully study the data due to lack of huge data sets and complex routines. Many datasets were checked through offline systems to get threat. These made it hard for Financial Network Enforcement Network (FinCEN) to analyze the data, predict the upcoming threats and disrupt illegal business.
 
FinCEN upgraded its 11 years of old data into new system of records. It includes up gradation of databases, IT framework and data analyzing capabilities. By this bureau can better analyze the data and provide it to respective enforcement authorities. Database upgradation makes FinCEN capabilities more potent in handling huge datasets and complex routines. This all upgrade leads to electronically processing reports. Now FinCEN has its new application, a web based application to search BSA (Bank Secrecy Act) data. It can be accessed by different concerned authorities anytime anywhere having real time experience.
 
Financial intelligence depends upon analyzing the suspicious content and finding patterns and relationships to unveil illegal activity. (Rainer & Turban & Potter, 2001, p.5)                                                  
 
Financial intelligence’s capability of finding different patterns and relationships leads to the fast track search of money laundering businesses, funding to terrorist organizations and stop their illegal business.
 
Recently FinCEN has detected and disrupted many illegal activities. Some of them are:-
  1. FinCEN imposed penalty of $184 million and remedial actions on Western Union Financial Services, Inc. (WUFSI) for violations of anti money laundering rules.
  2. FinCEN assessed penalty of $12 million against Cantor Gaming for violating anti money laundering terms of Bank Secrecy Act (BSA). (Hudak, 2017, p.5)
  3. FinCEN imposed $1.5 million penalty on community bank for violation of BSA rule by failing to generate report of suspicious transactions.

With the use of data analytics many forms of frauds can be detected. It plays a significant role in crime detection. For a healthy transaction user can create a baseline to compare the real time transaction to point out the anomalies. User can analyze data related to fraud to know from where the fraud originates and targets which account for fraud. Analyzing errors will help customers from attackers. With real-time analyzing of data can stop on going fraud transaction. Anomaly detection helps in detecting the fraud before reaching its conclusion. (Tozzi, 2017, p.5).

References

Farlex Financial Dictionary, (2017).  Just In Time – JIT. [Online] Retrieved from:

http://financial-dictionary.thefreedictionary.com/Just-In-Time+Delivery

Rouse, M. (2016).  e-commerce (electronic commerce or EC). [Online] Retrieved from:

http://searchcio.techtarget.com/definition/e-commerce

Rouse, M. (2016). Software as a Service (SaaS). [Online] Retrieved from:

http://searchcloudcomputing.techtarget.com/definition/Software-as-a-Service

Anonymous, (2017). Decision Support System – DSS. [Online] Retrieved from:

http://www.investopedia.com/terms/d/decision-support-system.asp

Beal, V. (2017). cloud computing. [Online] Retrieved from:

http://www.webopedia.com/TERM/C/cloud_computing.html

Beal, V. 2017. web 2.0. [Online] Retrieved from:

http://www.webopedia.com/TERM/W/Web_2_point_0.html

Rouse, M. (2017).  Extranet. [Online] Retrieved from:

http://searchenterprisewan.techtarget.com/definition/extranet

Anonymous (n.d.). What is Big Data Analytics? [Online] Retrieved from:

https://www.ibm.com/analytics/us/en/technology/hadoop/big-data-analytics/

Rouse, M. (2010).  supply chain management (SCM) [Online] Retrieved from:

http://searcherp.techtarget.com/definition/supply-chain-management-SCM

Elmasri, R & Navathe, S. (2002).  Fundamentals of database systems (3rd ed.).

Pearson Education India.

Anonymous, (2017). What is Stock Control? [Online] Retrieved from:

https://erpfm.com/what-is-stock-control/

Turban, E., Rainer, R. K., & Potter, R. E. (2001). Introduction to information technology (Vol. 85). New York: John Wiley.

Hudak, S. (2017). FinCEN Fines Western Union Financial Services, Inc. for Past Violations of

Anti-Money Laundering Rules In Coordinated Action with DOJ and FTC. [Online] Retrieved from:

https://www.fincen.gov/news/news-releases/fincen-fines-western-union-financial-services-inc-past-violations-anti-money

Hudak, S. (2016). FinCEN Fines Cantor Gaming $12 Million for Egregious and Systemic Violations of Anti-Money Laundering Rules [Online] Retrieved from:

https://www.fincen.gov/news/news-releases/fincen-fines-western-union-financial-services-inc-past-violations-anti-money

Lowell, M., Nandan, K., & Grant, M. (2015). FinCEN Targets Community Bank – $1.5 Million Penalty for Failure to File Suspicious Activity Reports. [Online] Retrieved from:

https://www.globalregulatoryenforcementlawblog.com/2015/03/articles/government-%20contracts/fincen-targets-community-bank-15-million-penalty-for-failure-to-%20file-suspicious-activity-reports/

Tozzi, C. (2017). 5 Ways to Put Data to Work Detecting Fraud. [Online] Retrieved from:

http://blog.syncsort.com/2017/06/big-data/5-ways-put-data-work-detecting-fraud/

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