The company CEO was very upset at the riseof shadow IT projects – a major indicator that the company’s internal information system has failed to meet its needs.Because the current information system is inadequate, inefficient, and outdated, the CEO is inviting everyone in the organization to propose a new operational, decision support, or enterprise information system to replace it. The executives have allocated $5 million to fund the most promising idea. Write your proposal as a memo that 1. Identify the main functions of your proposed information system and why they are important to the business.2. Describe what types of data your information system will hold and how data quality will be ensured. 3. Explain how the old information system handles the functions you mentioned, the problems that occur, and why your information system will handle things better. 4. Offer evidence of feasibility: Show that similar information systems have been built successfully and that they save more money than they cost.