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In chapter seven (7), we have learned from "The Path to Information Value" that 70% of managers and executives say data are “extremely important” for creating a competitive advantage. It is implied by the authors that, “The key, of course, is knowing which data matter, who within a company needs them, and finding ways to get that data into users’ hands.” Based on the company you have identified for your Final Paper, discuss 1) the data that matters to the executives in that industry, 2) who, within that industry, needs that data, and 3) some methods for ensuring that the critical data gets into the users' hands. Remember to respond to two other learners' posts, letting them know if they missed any data or details in their industry.

Sample Paper For Above instruction

Introduction

Data has become an essential asset for organizations across various industries, serving as a strategic resource that can significantly influence competitive advantage. According to insights from "The Path to Information Value," a remarkable 70% of managers and executives recognize data as "extremely important" for gaining and maintaining a competitive edge. Understanding which data truly matters, identifying the right stakeholders within the organization, and establishing effective mechanisms for delivering this data are pivotal for organizational success. This paper explores these aspects within the context of Amazon, one of the world's leading e-commerce and cloud computing companies.

Critical Data for Amazon's Executives

At Amazon, the data that holds paramount importance to executives encompasses customer purchasing behaviors, supply chain metrics, and real-time sales data. Customer data, including browsing history, purchase patterns, and feedback, enables Amazon's leadership to tailor personalized recommendations, optimize user experience, and refine marketing strategies. Supply chain and logistics data, such as inventory levels, delivery times, and transportation routes, are vital for maintaining efficient operations and reducing costs. Additionally, financial data, including revenue figures, profit margins, and expenditure breakdowns, are critical for strategic planning and resource allocation. These data types collectively underpin Amazon's ability to innovate rapidly, improve customer satisfaction, and sustain competitive advantage (Kumar & Reinartz, 2016).

Stakeholders Needing Critical Data

Within Amazon, a diverse range of stakeholders require access to the critical data. The executive leadership team, including the CEO, CFO, and CTO, utilizes high-level data to inform strategic decision-making and long-term planning. Department managers, such as those overseeing logistics, marketing, and product development, rely on operational data to oversee their respective areas and implement tactical improvements. Data analysts and data scientists play a crucial role in interpreting vast datasets, identifying trends, and providing insights for decision support. Furthermore, frontline employees in warehouses and customer service centers access relevant data to facilitate daily operations and enhance customer interactions (LaValle et al., 2011).

Methods to Ensure Data Access

Ensuring that critical data reaches the appropriate users efficiently requires the implementation of robust data management and communication strategies. Amazon employs advanced Business Intelligence (BI) tools and dashboards that provide real-time data visualizations accessible via secured platforms, allowing managers and executives to monitor key metrics instantaneously (Marr, 2018). Data integration systems, such as enterprise data warehouses, consolidate information from multiple sources, facilitating comprehensive analysis and reporting. To promote data accessibility, Amazon invests heavily in training and data literacy programs, empowering employees to interpret and utilize data effectively. Moreover, adopting cloud-based solutions ensures secure, scalable, and ubiquitous access to pertinent information across geographically dispersed teams (Chen et al., 2012). Security protocols, including encryption and access controls, safeguard sensitive data from unauthorized use, maintaining compliance with privacy standards.

Conclusion

In conclusion, the strategic value of data within Amazon underscores the importance of understanding which data matter most, who needs access to these data, and how to ensure their effective dissemination. By focusing on customer insights, supply chain metrics, and financial information, and employing advanced technological tools and training, Amazon exemplifies how organizations can leverage data to sustain a competitive advantage. As data continues to grow in complexity and importance, organizations must prioritize the correct identification, targeted sharing, and secure management of critical data to thrive in today’s dynamic business landscape.

References

• Chen, H., Chiang, R. H. L., & Storey, V. C. (2012). Business Intelligence and Analytics: From Big Data to Big Impact. MIS Quarterly, 36(4), 1165-1188.
• Kumar, V., & Reinartz, W. (2016). Creating Enduring Customer Value. Journal of Marketing, 80(6), 36–68.
• LaValle, S., Lesser, E., Shockley, R., Hopkins, M. S., & Kruschwitz, N. (2011). Big Data, Analytics and the Future of Marketing & Sales. MIT Sloan Management Review, 52(2), 21-31.
• Marr, B. (2018). Data-Driven Business Models: Designing Your Organizational Data Strategy. Kogan Page Publishers.