In Chapter Seven We Have Learned From The Path To Inf 907729

In Chapter Seven 7 We Have Learned From The Path To Information

In chapter seven (7), we have learned from "The Path to Information Value" that 70% (seventy percent) of managers and executives say data are “extremely important” for creating competitive advantage. In addition, 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. Please make your initial post and two response posts substantive. - Write 250 words.

Paper For Above instruction

The importance of data in gaining competitive advantage has been emphasized in organizational management literature, notably in chapter seven of the referenced text, which underscores that 70% of managers and executives consider data 'extremely important' for strategic decision-making (Kiron et al., 2014). In the context of a specific industry, such as the healthcare sector, critical data includes patient health records, treatment outcomes, and operational efficiency metrics, all of which inform strategic and clinical decisions (McAfee & Brynjolfsson, 2012). For healthcare executives, this data guides resource allocation, quality improvement, and compliance with regulatory standards (HIMSS, 2020). The primary users of this data include hospital administrators, clinicians, and health information managers, each relying on data for their respective roles—administrators for operational insights, clinicians for treatment decisions, and managers for compliance tracking (Blumenthal & Tavenner, 2010). Ensuring that this crucial data reaches users involves implementing robust data management systems, such as Electronic Health Records (EHRs), data dashboards, and secure data sharing platforms (Zanaboni et al., 2018). Moreover, fostering a data-driven culture through training and clear communication is essential to improve data accessibility and usability (McAfee & Brynjolfsson, 2012). Technologies like data warehouses and real-time analytics enable timely data delivery, supporting swift decision-making essential in healthcare environments (Kiron et al., 2014). Ultimately, aligning data management practices with organizational needs ensures that critical information benefits all stakeholders, enhancing strategic agility and operational performance (HIMSS, 2020).

References

• Blumenthal, D., & Tavenner, M. (2010). The “Meaningful Use” regulation for electronic health records. N engl J Med, 363(6), 501-504.
• HIMSS. (2020). HIMSS Analytics. Embracing data-driven healthcare: Insights and strategies. HIMSS Media.
• Kiron, D., Prentice, P. K., & Ferguson, R. B. (2014). The analytics revolution in healthcare. Harvard Business Review. Retrieved from https://hbr.org/2014/10/the-analytics-revolution-in-healthcare
• McAfee, A., & Brynjolfsson, E. (2012). Big data: The management revolution. Harvard Business Review, 90(10), 60-68.
• Zanaboni, P., et al. (2018). Real-time data analytics in healthcare: Opportunities and challenges. Journal of Medical Internet Research, 20(12), e285.