Question

In chapter seven (7), we have learned from "The Path to Information Value" that 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.” Looking at the Economist Intelligence Unit report, identify the three (3) phases that led to the yard’s rebirth.

Answer 1

Data always remains an integral part of any organisation specially if the organisation is an IT industry or using IT in their business. Choosing and storing the right and appropriate data will help the business succeed and will also helps in business growth expansion. Here are three phases that leads to yard's rebirth:

• Utilization of the raw data: utilization of the raw data basically helps the business to analyse the behaviour of the user and the product. These raw data are usually used for data mining and data analysis. This benefits the organisation to study the behaviour.
• Application related data: These are mostly processed data which the application uses to run the business continuity. These data are very important in terms of database and application purpose.
• User's information: These data are the most critical data in the infrastructure and should be treated with security. These data are mostly user's personal information and are beneficial for the organisation.