1

The Role of Management Information System in Enhancing Client

Services in The Banking Sector (A Case Study of FirstBank of
Nigeria)

Abubakar, Abdullahi Dahiru

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Mental Wealth 4: Mental Wealth and Applied Research

UEL-HR-7004-33873

Module Assessment: Individual Applied Report

19/07/2023

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Table of Contents
1.1 Background …………......................................................................................................... 3
1.2 Aim …………....................................................................................................................... 5
1.3 Objectives ............................................................................................................................ 5
1.4 Scope ……………………………........................................................................................ 5
1.5 Reason for this Subject ....................................................................................................... 5
1.6 Potential Benefits This Research May Create .................................................................. 5
1.7 Conclusion…………............................................................................................................ 6
Section 2: Literature Review..................................................................................................... 6
2.1 Introduction ......................................................................................................................... 6
2.2 Management Information System Concept………………................................................7
2.3 The History of Banking Operations in Nigeria ................................................................. 9
2.3.1 First Bank of Nigeria........................................................................................................ 10
2.3.2 Information Technology and Information System in the Insurance Industry ……... 11
2.3.3 Kinds of Management Information System.................................................................... 13
2.4 Research Gap…………........................................................................................................ 14
2.5 Conclusion………….……………………………………………………………………….14
Section 3: Methodology, Discussion and Justification…………………….............................14
3.1 Introduction……………………………………………...................................................... 15
3.1.2 Sources and Collection of data......................................................................................... 15
3.1.3 Sample Data and Technique ............................................................................................ 16
3.1.4 Method of Data Analysis .................................................................................................. 16
3.1.5 Research Design ……....................................................................................................... 17
3.1.6 Research Type ….............................................................................................................. 18
3.1.7 Time Length …………...................................................................................................... 18
3.1.8 Research Instrument Used for Data Collection.............................................................. 18
3.1.9 Ethical Considerations…….............................................................................................. 18
Section 4: Plan ……………………............................................................................................19
Reference ....................................................................................................................................22

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1.1 Background
Today's financial industry is adrift in a sea of data, including details on clients,
goods, and services, as well as their past purchases, financial transactions,
marketing tactics, and more, all collected via numerous smartphone apps and
gadgets. This abundance of data generates useful examples, but it can also provide
difficulties if this crucial data is inconsistent across many systems and treated
incorrectly as a result.
The population also has been expanding quickly, markets have frequently become
global in scope, customer expectations have been rising and expanding,
government demands have been multiplying, social responsibility, ecological
concern, and public institutions have been growing, all of which have an impact on
business. As one might anticipate, these developments are intensifying
competition, providing difficult decision-making challenges, and constraining
resources. Organisations have rearranged organisational structures and expanded
their range of products and services as responses. Using new technology, taking
part in community service initiatives, and reviewing information systems are just a
few examples.
In the corporate world, improved versions of computers, ports, and various other
equipment are released practically daily. Various technical publications describe
new strategies for tackling business challenges based on fields such as theory of
communication and operational research. Advancement in data related gear
methods and ideas, all in all known as data innovation, has been happening at a
bewildering rate. Various of these developments expect to raise the executives
dynamic principles and data framework viability.
Both the desire for and the means to obtain more valuable information have been
driven by these changes and improvements. As a result, information systems are
showing a variety of intriguing impacts. Computers and other associated
technology, for instance, are used in the gathering, processing, and distribution of
information. Decision-making reports are generated specifically for managers on
demand using decision models to organise data.
The Management Information System (MIS) is a framework that gathers,
processes, and conveys data and information to the board for dynamic purposes. It
should perform fundamental administration tasks, for example, staffing, putting
together, organizing, starting to lead the pack, and administering.
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Business computers were introduced to answer specific technological or

organisational problems, and their usage was widely accepted, but there have been
several hurdles since the advent of management information systems. It enhances
organisational connections and has an impact on the fundamental principles and
structure of the organisation. Computers play a crucial part in the storing,
retrieving, and manipulating of data, which is necessary in the running of the
organisation since information and data manipulation are crucial in the
administration of organisations.
Data delivered or made by interesting and specific Data Innovation systems is
habitually the reason for corporate activities and direction. These systems are
utilized to accumulate data, gather it, arrange it, and produce a result to help make
fast and informed business choices. To upgrade dynamic cycles, increment results,
and diminish yield costs, organizations carry out inventive management
approaches and systems (Henry and Mayle, 2003; AlMaryani and Sadik, 2012).
Thus, this is a system to improve the effectiveness of business tasks. Assuming
organizations stick to specific vital focuses on certain management techniques and
management bookkeeping methodology improve monetary execution (Chenhall
and Langfield-Smith, 1998; Naranjo-Gil, 2004).
Moreover, it is accepted by scholastics that chiefs, acting sanely, are hesitant to
acknowledge a management data system that doesn't improve the monetary
presentation of their association (Chenhall, 2003). Thus, the utilisation of
management information greatly enhances decision-making and, consequently,
financial success. Like this, organizations that profoundly esteem their
management data system might embrace it to a lot more prominent level with an
end goal to safeguard and upgrade their generally monetary presentation. In spite
of these disadvantages, a few experimental examinations really try to connect
monetary execution to management data systems (MIS) or creative management
rehearsals. Despite the fact that their examinations of the singular impacts of
different management procedures change somewhat, the heft of them do as such.
Such management data systems have been utilized in numerous organizations as a
dynamic guide and a method for accomplishing elevated degrees of corporate
execution. Further exploration is important to more likely grasp the association
between management data systems and company achievement.

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1.2 Research Aim

This study will probably evaluate the effect of management data systems to further
develop client administrations in the financial area.
1.3 Research Objectives
- Analyse the effects of the banking industry's complete adoption of management
information systems.
- Assess how well management information systems address inefficiencies in
banking operations.
- Identify the various impacts of management information system on the banking
business, such as computer and related equipment.

1.4 Scope
This research uses First Bank Nigeria (FBN) as a case study to examine the effects
of management information systems in the banking sector. The study examined the
potential benefits of using information technology to gain a competitive edge.

1.5 Reason for this Subject

In these uncertain times, businesses seek to strengthen their competitiveness by
fostering greater organisational and individual efficiency, innovation, and service
quality. The organisation is under more intense and diverse demand to improve its
information processing capabilities, particularly speed and dependability. In spite
of the way that management data systems, with their numerous and distinguished
fascinating impacts (like PCs and related gear), transfigure management, offer a
remedy for its concerns, and add a huge new development to the association, many
banks keep on slacking in their tasks.
1.6 Benefits That This Research Might Produce
The review's significance lies in how critical management data systems are to the
exhibition of the financial area, as well as how they support management
capabilities by giving supervisors state-of-the art arrangements, helping the

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management settle on choices that are right overwhelmingly, and increasing

regulatory expectations in the financial area.
The results of the review will help in deciding how comprehensively management
data system procedures have been utilized in the financial area and how much this
has affected the bank's general execution. It is anticipated that the study's findings
would help First Bank of Nigeria, in particular, reach its stated goals in terms of
client happiness. The fact that this study will add to the body of literature in the
pertinent future study will be of significant use to bankers, financial analysts,
government agencies, academics, private and public sectors.

1.7 Concluding Summary

As was previously said, this study will assess the impact of management
information systems on the banking sector. First, this goal will be accomplished by
looking at how banks function with minimal information systems. The impact of
these styles on the financial system will then be assessed to determine if they are
beneficial or bad. Finally, data management systems used by banks will be
scrutinised to determine whether there is a better management information system
that can address the inefficiency in banking operations.

Chapter 2 – Literature Review

A review of the relevant literature will be presented in this chapter. The earlier
research will be included. The installation, application, and efficiency of data
management systems in banking operations are the main topics of this chapter.
2.1 Introduction
For this subject, a detailed review of the literature was done. According to
Mudavanhu (2017), literature reviews are significant for dissertations and are a
compilation of summaries of what others have stated on the subject. An successful
literature review, according to Webster and Watson (2002), aids in the creation of
theories, focuses on areas of theory where there is a dearth of research, and
identifies areas where more study may be required.
I'll be able to explore the diverse perspectives of academics and scholars from
across the world on the subject of leadership by doing a literature review. This was

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therefore thought to be the best way to achieve the goal and respond to the
suggested study topic.
The concept of management information systems will be covered in Section 2.2 of
this chapter. The history of banking operation in Nigeria is covered in Section 2.3.
The research gap will be discussed in depth in Section 2.4, and a brief conclusion
will be provided in Section 2.5
2.2 Concept of Management Information System
A Management Information System (MIS) is a comprehensive and integrated
system that facilitates the collection, processing, storage, and dissemination of
relevant information to support managerial decision-making and overall
organizational operations. It encompasses the use of technology, processes, and
people to gather data, convert it into meaningful information, and present it in a
format that aids executives, managers, and other stakeholders in making informed
choices.
As indicated by Leonardi and Bailey (2008), management data systems are formal
components for furnishing management with the relevant data it needs to make
decisions. As indicated by Baccarini (1999), The system provides information on
the association's past, present, and predicted future, as well as significant internal
and external developments. It very well might be described as a planned and
coordinated system for gathering relevant data, changing it into precise data, and
conveying it to the elaborate leaders. "Giving the right data to the perfect
individuals with flawless timing" is the essential objective of a management data
system (Dim, 2000). To combat such ineffective computer development and
productive usage, management information system concepts were developed.
Concepts related to management information systems are essential for effective
computer use in company.
A system won't be viewed as a part of a management data system in the event that
it gives data to people who are not supervisors (Belassi and Tukel, 1996). Albeit
such a system could incorporate connection points that are similar to those in a
management data system, it isn't one of them. Compensation affirmations and
extract obligation announcements are two instances of such systems. As indicated
by an obvious arrangement of standards, management data systems frequently
manage data that has been regularly and deliberately gained (Spathis et al., 2007).
An association's proper data network incorporates the management data system.
Rarely are golf courses a source of information with substantial managerial
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planning value. Even so, "one-shot market research data accumulated to measure
the maximum potential of something new does not come within the goal of a
Management information system by what we mean, seeing as this type of data
which is methodically retained has not been gathered on a regular basis" (Belassi
and Tukel, 1996). As a result, this information is not a part of a management
information system.
A management information system's data frequently aids managers in making
strategic and tactical choices (Jorgenson, 1989). Each business or association,
"whether it is a distributor or vehicle producer or who has the obligation of
providing fluid to its area of purview," should have the option to make explicit
undertakings to work successfully (Wu and Lee, 2007). Cautious arrangements are
expected for these cycles, so the vehicle producer should pick the model of vehicle
and the distributer should pick the siphoning timetable to use for the following five
years (Dark, 2000).
A business or association should likewise deal with its tasks as per the objectives
and plans made all through the planning stage (Jorgenson, 1989). The automaker
should choose whether to change his arrangements or attempt to compensate for
the fluctuation. In any case, the distributer should evaluate the impacts of his
payments on deals and choose how to address dissimilar examples (Wu and Lee,
2007). Arranging and control are dealt with through management data systems
(Leonardi and Bailey, 2008). Data that upholds tasks is kept in refined systems.
The automaker will have a mechanism in place for informing the shop floor
employees about the work that has to be done on a specific amount of material.
Route sheets may be used to track the passage of materials and components
through different equipment (Lewis, 2004). Only the information needed to
facilitate operation is provided by this system. It has little relevance for
management decision-making. It doesn't belong to a management information
system. Be that as it may, the system will be a piece of a Management data system
on the off chance that it gives data on productivity, and refusal rates.
The creation and utilization of data systems for management is characterized as
helping associations accomplish their targets. Advancement and utilization, data
systems, and business points and goals are the three principal parts of this idea
(Kroenke, 2011). A data system (IS) is a bunch of parts that collaborate to make
data, while a system is a gathering of parts that communicate to satisfy some goal.

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A chart of a data system's constituent parts, including PC equipment,

programming, data, work processes, and individuals (Kroenke, 2011).
Every information system contains these five elements. For instance, when you use
a computer to create a report, you are using hardware (the computer, storage disc,
keyboard, and monitor), software (word or another word processor), data (the
words, sentences, and paragraphs), procedures (the ways you start the programme
to enter, save, and back up), and people (you). What exactly is data? Data are
defined as documented fact or numbers, whereas information is understanding
acquired from data (kroenke, 2011). Turban records the accompanying
characteristics of excellent data in his article (Turban and Volonino, 2010):
• Accurate: true and comprehensive information.
• Timely: created in accordance with the intended usage.
• Relevant: both to the subject and the situation.
• Sufficient: to meet the needs of the intended use.
• Worth its cost: There must be a reasonable correlation between the price of the
information and its worth.

2.3 The History of Banking Operations in Nigeria

The foundation of African Financial Organization and First Bank of Nigeria
(previously known as the Bank of English West Africa (BBWA) somewhere in the
range of 1892 and 1894 is the point at which the historical backdrop of banking
activities and guideline in Nigeria started.
There was no question that the Colonial Banks developed their foothold in Nigeria
during the course of history. From Nigeria, they managed business affairs,
impacted financial operations, and influenced trade and business dealings across
West Africa. The Public Bank of South Africa, the Pilgrim Bank, and the Old
English Egyptian Bank consolidated in the mid-1920s to become Barclays Bank
(Territory, Pioneer, and Abroad), which later began working as a monetary
association in Nigeria.
The British and French Bank for Commerce and Industry (later to become the First
Bank of Nigeria) was founded in 1948. Therefore, these banks did not seek to
satisfy the demands of Africans. The African Continental Bank, a bank with an
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African history, was founded in 1949 by Dr. Nnamdi Azikwe. Because

international banks treated him and his group of firms unfairly, he made the
decision to form the bank in the name of Pan Africanism9. In actuality, ACB was
not the first Nigerian bank to be established. The Industrial and Commercial Bank
was the first locally founded bank in 1929, but due to its meagre success, it was
liquidated fifteen months later, particularly in 1930. Although the economic
restrictions of that era undoubtedly had a role in its collapse, mismanagement, poor
bookkeeping, and theft have been blamed for its demise. The vast majority of its
boards were likewise overseers of the a distant ICB when its remainders were
supplanted by Commercial Bank in 1931. It laid out auxiliaries in Lagos and Aba a
year after the fact, but after six years, it likewise deliberately sold. The Nigerian
Ranchers and Business Bank was also laid out in 1947.
Mr. G.D. Paton, an official from the Bank of England, was chosen by the
government in 1948 to "enquire generally into the affairs of financial services in
Nigeria and make proposals to the Administration on the type and breadth of
regulation which ought to be implemented." The fast creation of these indigenous
banks worried the authorities. In 1952, the first Banking Regulatory Act was
created as a result of the investigation's findings, which was presented at the time.
Its principal purposes were to preserve commercial banking order, prevent the
growth of unproductive banks, and regulate banking activity.11. A drafting of the
law establishing the Central Bank of Nigeria was subsequently sent to the House of
Representatives in March 1958.
2.3.1 First Bank of Nigeria
Laid out in 1894, First Bank is going through its 129 years of banking
administrations for Nigerians, and presumably the financial goliath is the head
Bank in West Africa, Nigeria's highest-level bank brand, and the nation's top
provider of monetary administration solutions.
The Bank purchased its first rival, the Bank of Nigeria (formerly known as Anglo-
African Bank), which was founded in 1899 by the Royal Niger Company, in 1912.
The association was once known as the Bank of British West Africa (BBWA) prior
to being renamed the Bank of West Africa (BWA) in 1957. The bank became
Standard Bank of West Africa Restricted in 1966 after converging with Standard
Bank, UK. It was then locally established in 1969 as Standard Bank of Nigeria
Restricted in accordance with the Organizations Pronouncement of 1968.

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In 1979 and 1991, the bank was renamed First Bank of Nigeria Limited and First
Bank of Nigeria Plc. To follow the new National Bank of Nigeria (CBN) guideline,
the Bank changed its name again in 2012 to FirstBank of Nigeria Limited as a
component of a rebuilding that brought about FBN Possessions Plc ("FBN
Property") isolating its business from other FirstBank Gathering organizations.
In December 2012, FirstBank's resources were moved to its holding organization,
FBN Property. FirstBank had 1.3 million investors around the world, was recorded
on The Nigerian Stock Exchange (NSE), where it was perhaps the most promoted
organization, and furthermore had an unlisted Worldwide Vault Receipt (GDR)
program.
Throughout a really long period and a portion of that time, the Bank has
consistently gained ground in the homegrown monetary industry by expanding on
major areas of strength. Through its auxiliary, FirstBank (UK) Restricted, which
has areas in London and Paris as well as in Beijing with its Agent Workplaces,
FirstBank is available in the Unified Realm and France. One of the top banks in the
majority-rule Republic of the Congo, Banque Worldwide de Credit (BIC), which is
currently FirstBank DRC, was purchased by the Bank in October 2011. FirstBank
bought ICB in The Gambia, Sierra Leone, Ghana, and Guinea in November 2013,
and the Bank bought ICB in Senegal in 2014. These were huge defining moments
in its system for extending its impact in sub-Saharan Africa.
FirstBank stays aware of the changing prerequisites of its clients, financial backers,
controllers, networks, laborers, and different partners while likewise adjusting to
the worldwide working climate. By adopting a fair strategy for the execution of its
arrangements, FirstBank has hardened its position as the business chief by
proceeding to engage all ages. Accordingly, the Bank has consistently expanded
the quantity of its clients, who currently address all size, construction, and industry
classifications.
FirstBank has kept on shaping collusions with critical monetary areas that have
filled in as fundamental starting points for the success, extension, and improvement
of the nation by drawing on experience obtained over nearly 100 years of
dependable administrations. Because of its significant resource base, wide branch
organization, and nonstop advancement, FirstBank keeps up with market
administration on all fronts in the country's monetary administration industry,
making it the most grounded financial establishment in Nigeria.

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2.3.2 Information Technology and Information System

Although the phrases information system and information technology seem similar,
they are distinct. Information systems (IS) are an assembly of hardware, software,
data, procedures, and people that produce information, whereas information
technology (IT) refers to the products, methods, inventions, and standards that are
used for the purpose of producing information. (Laudon, 2013) Information
technology (IT) is concerned with the hardware, software, and data components.
2.3.3 Kinds of Management Information System
Management information systems provide a competitive advantage when they help
the company achieve its goals (Jorgenson, 1989). The majority of businesses are
functionally organised, and the systems used in them may be divided into six
categories: accounting management information systems, finance management
information systems, manufacturing management information systems, marketing
management information systems, and human resources management information
systems. All bookkeeping reports are given by all bookkeeping management levels
with regards to the bookkeeping Management Information System. One of the
most important aspects in determining the effectiveness of the accounting
department and the department itself is how information is managed there
(Leonardi and Bailey, 2008). According to Wong et al. (2009), the information
collected comprised invoices, account documents, payments, draughts, banking
documents, etc.
Normally, a PC system coordinates and deals with the information rather than a
person who might record it clearly. The UBS system, the Structured Query
Language (SQL) system, and other related systems that can deal with the
bookkeeping information documents were the products and systems used for
bookkeeping management (Jorgenson, 1989). The system that uses SQL
specifically is the best solution to retain and reorder the data from the accounting
department. The system is able to quickly identify information that is jumbled up
or out of order and determine the specifics and kind it was (Spathis et al., 2007).
According to Liang et al. (2007), information is a crucial component of the
accounting department's operation. In addition to another department that depends
on the information in the opposite direction, the accounting department also
depends on the information (Baccarini, 1999). It is essential that the bookkeeping
office give the association and different divisions the right and precise information.
The precision and consistency of the information decide the association's future.
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The chief financial officer and other business and financial managers inside an
organisation are provided with financial and economic information using a
different sort of information system (Leonardi and Bailey, 2008).
Using data created by the management information system department, the chief
financial officer examines past and present economic activity, estimates future
financial demands, manages and oversees funds (Wong et al., 2009). The budget
and planning for the organisation will be based on the information that the finance
department possesses (Lewis, 2004). The quantity of the organisation will be
determined by the financial and economic data gathered throughout the company's
establishment, development, and expansion. The data gathered also illustrates the
company's financial status with regard to growth and progress.
Just the people who are able will be picked for the position of coordinator for the
money division to guarantee the insurance of the association's information
(Baccarini, 1999). The cost examination of information systems is a basic
management subject. A gauge assists with recognizing explicit thoughts, planning
for their turn of events, screening and dealing with their advancement, and
assessing assessors and implementers.
Tasks have been affected by vital specialized headway more than some other
practical area in assembling management information systems. Thus, production
strategies have adjusted. To try not to burn through a lot of cash on putting away
enormous inventories, inventories are given (Liang et al., 2007). Stockroom space
is often given on rail route carts that are ready to be conveyed straightforwardly to
the enterprises, hindering the need for it. For the current information subsystem of
the associations to work effectively and productively, they intensely depend on
information systems. As per the in the nick of time (JIT) idea, input subsystems
ensure natural substances, gatherings, and subassemblies from different and
aberrant sources (Baccarini, 1999).
An information system for showcasing management upholds administrative
exercises in the space of item advancement, cost decisions, limited time viability,
and deal determination. Moreover, promoting systems depends on external data
sources like clients and adversaries. The information assembled is critical for
characterizing different showcasing strategies. According to the viewpoints of
office hypothesis and exchange cost financial matters, we classify the job of
information systems in a firm to dissect the impact of information systems on
organizations and associations. We additionally decide how much effect current IT

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has on the organization's expense construction and take a gander at how these
impacts bring about changes to various properties of the organization or
association (Spathis et al., 2007).
Information systems are likewise used to assess the worldwide business
environment and conditions, furnishing the association or firm with valuable
contributions on business potential, open doors, market and buyer socioeconomics,
as well as information on culture and governmental issues (Lewis, 2004). The
development and execution of marketing and commercial strategies that balance
organisational strengths with environmental possibilities depends on this sort of
input. Additionally, information systems connect and coordinate all of an
organization's operations internationally, enhancing internal efficiency (Baccarini,
1999).
For monitoring quality control procedures and assessing the environmental effect
of various packaging alternatives, information systems are crucial. Without
significant investments in information technology, the future of automated storage
and distribution would obviously not be imaginable (Hjelt and Bjök, 2007).
According to Grey (2000), operations pertaining to all administrative levels,
employees, and other people employed by the organisation are handled through
human resources management information systems. The human resources
management information system plays a crucial role in ensuring organisational
performance since the people function touches on all other business sectors
(Spathis et al., 2007). Human resources management technologies are responsible
for functions including workforce evaluation and preparation, hiring, training, and
job assignments (Hjelt and Bjök, 2007).
2.4 Research Gap
There are many studies on data management systems, however there are few that
specifically address the Nigerian banking industry. By examining The First Bank,
the largest bank in Nigeria, this research aims to reduce the gap over whether or
not the application of management information systems will improve customer
services in the banking business. The apparent solution may be data management
system success stories with satisfied customers. If there was a simple solution, no
more research would need to be done. This is not the case, though.
Despite the fact that management information systems, such as computers and
related equipment, revolutionise management, offer solutions to its issues, and

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contribute a significant amount of new innovation to the organisation, many banks

continue to be inefficient in their operations.
2.5 Concluding Summary
This section looked at the research on the efficiency and inefficiency of data
handling in the banking industry. The necessity of data management was discussed
at the outset of the section, which was then followed by a history of banking in
Nigeria and an examination of the various types of data management and their
potential effects on the banking sector. It's critical to have a solid approach if this
study is to accomplish its goal. The study's research design will be highlighted in
the next part.

Section 3 Research Methodology Discussion and Justification

3.1 INTRODUCTION

This part of the research project deals with the methods and process utilised to collect

and analyse the pertinent data for the investigation. It consists of the study strategy,

data sources, sample size, data collection methods, how the data are acquired, and

the methods used to handle and analyse the data.

3.1.2 Sources and Collection of Data

The secondary data is the information gathered for this reason. For this study,

research will be performed through journals, websites, articles, ProQuest on the

impact of data management in the banking sector, also. To guarantee that the precise

data needed for this study was gathered, it is essential to collect such data. Data from

Firstbank of Nigeria will also be examined to give a specific case study on the

forementioned topic.
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To find the information most pertinent to this work, these keywords will be placed

into the ProQuest database, ERIC, Google, and Google Scholar. These search

phrases turned up several papers of various categories, which have been looked at,

used, and assessed for this study. Some of the publications that will be used are

journals, articles, books, newspapers, reports, public papers, and working papers.

These are thought to be the most appropriate for our investigation.

3.1.3 Sample Size and Technique

According to Sobowale (1983), the sample size is the total number of responders

who reflect the study's population. Data will be acquired through news stories and

publicly available corporate data because this is a case study on a specific firm,

Firstbank of Nigeria. This sample is thought to be adequate for determining if data

management systems have a significant influence on the banking industry. A smaller

sample size is preferable and may be more significant when analysing qualitative

data. and the broader banking sector.

3.1.4 Method of Data Analysis

The sorts of data that will be gathered for the project will be covered in detail in this

section. A specific method of data collection and analysis is required to ascertain if

the information gathered is relevant to the subject. Only secondary data sources,

mostly qualitative but also including some quantitative data, will be used for this

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study. The efficiency of data management systems in the banking industry is the

subject of the inquiry.

3.1.5 Research Design

This study's methodology was developed using descriptive and historical

methodologies. Historical study establishes, assesses, and translates the management

information system's influence on the banking sector. The data gathered for the

investigation are described and interpreted in descriptive research designs.

3.1.6 Research Type

The issue was investigated using an inductive methodology, and the hypothesis

presented in this work was developed using the body of existing literature. Saunders,

Lewis, and Thornhill (2015) contend that as social sciences have advanced,

researchers should be cautious when using deduction. The knowledge that is

produced will be related to the project's period and environment and will not be an

unalterable fact. According to Ketokivi and Mantere (2010), the observations

gathered during the research stage will be used to evaluate and support the

conclusion.

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To further the goals of the study, qualitative research will also be employed. Because

of the less rigorous study methods made possible by an inductive approach, the

conclusions are not always definitive.

3.1.7 Time Length

In order to evaluate the effects of data management in the financial sectors, this

research will be longitudinal in character and will attempt to go outside and meet

people to complete questionnaires at various bank branches of the chosen

organisation (First Bank of Nigeria).

3.1.8 Research Instrument Used for Data Collection

To accomplish my study goal, I shall use secondary data sources. According to Law

(2006), the secondary examination of data from ongoing research provides

intriguing opportunities for fresh knowledge progress. By performing extra research,

identifying new interpretations, and drawing new conclusions, secondary data can

be utilised to address a different or brand-new problem (Krishnaswamy and

Satyaprasad, 2010; Adams, Khan, and Raeside, 2014; Saunders, Lewis, and

Thornhill, 2015). Since there is a wealth of existing information on this subject,

primary data won't be required to properly examine the subject. Additionally, data

from The Firstbank's data analyst will be acquired.

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3.1.9 Ethical Considerations

Depending on whether the primary data has continuing consent, the use of secondary

data may have consequences (Grinyer, 2009). However, as Wiles et al. (2007) noted,

asking participants for their continued consent might irritate them and lead to their

withdrawal. Data from the chosen firm that is not accessible to the general public

would need to be obtained with specific authorization, and this is outside the purview

of this study. Although primary data won't be used, there is enough information on

the banking sector and the firm selected to conduct a thorough analysis of the subject.

The implications of the research have taken into account the influence of the results,

recommendations, and conclusions because this research is a case study on one of

the most well-known big banks in Nigeria.

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Section 4 – Planning and Scheduling

On August 7th, 2023, the Applied Business Project will get underway. From August

26 through August 30 of 2023, I will be identifying and outlining the results of my

study. Between August 30 and September 16 of 2023, I will be reviewing and writing

the results of my study. Due to activities, I undertake with my family, I have built in

a few days of downtime for this segment, which I estimate taking me 21 days to

accomplish. By September 22nd, 2023, I want to finish the first draft of my results I

will likewise complete the principal draft of my decisions and ideas in light of my

discoveries between September 18 and September 26, 2023. It took an expected 10

days to complete the initial draughts of the conclusions, suggestions, and results.

These two tasks overlap because, as my experience has shown me, I am able to

identify some of my conclusions and suggestions as I write the results.

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There is a 4-day pause after I finish the first draught of the conclusion and

suggestions before starting the second. This is because starting the final draught of

these tasks requires taking a break from the paper in order to acquire perspective and

a new outlook. As I've discovered in earlier courses, when I plan time to step away

from my duties for a couple of days, I return feeling better rested and clear-headed.

On September 30th, 2023, I start writing the final version of my findings, and it is

finished on October 8th, 2023. Beginning on October 2nd, 2023, and running

through October 10th, 2023, is the final draught of my conclusions and suggestions.

Both activities' final draughts also include any overlaps I anticipate will occur

between them.

I will evaluate the Applied Business Project's first draught from October 10 to

October 12, 2023. This procedure includes checking that the references are written

appropriately, making sure that any grammar mistakes are corrected, and lightly

editing the work to ensure that the analysis is presented in a fair manner. The Applied

Business Project's final draught will be evaluated between October 13 and October

15, 2023. It is possible that throughout this phase you will ask a friend to proofread

your work for grammar mistakes and to make sure the analysis flows. In order to

take scheduling differences into consideration, I anticipated this to take 3 days.

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The time between reviewing the finished product and submitting it to Turnitin is two

days. This will give me time to think clearly after receiving the Turnitin result. While

I'd want to have little modification in this area, I'm not sure how it will proceed. I

have thus allowed for three days in case editing or paraphrasing is required. I have

added three more days for a final evaluation of the project once I am inside the

Turnitin advised range.

The finished paper will likely be sent in on October 23, 2023, five days before the

deadline. This time cushion has been established in just in case any unforeseen

events or illnesses occur.

Word Count: 6,463

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