Select a company with which you are familiar. Using that company as a basis detail and describe the types of data that may be used in that company (try to figure out at least 10-20 different data components). Discuss ways that parts of that data are, or could be used as an asset to the company. Explain any threats to data quality, or known data quality issues, and what could be used to mitigate them.
Ans 1=Data is the nucleus of almost all corporate decision-making. Human resources officers are collecting data from online resources to ascertain the best persons to recruit & confirm particulars about them. Marketing divisions are scanning market segmentation info to find customers who are ready to purchase, accelerating the sale-closing process when possible. Business officials must assess bigger market trends, such as changes in price level of resources, transport or manufacturing.
By utilizing data effectually, a firm is able to streamline the process of making a product & putting it in the hands of the consumer. The expenditure savings from not doing shotgun promotion / paying too much for supplies can considerably affect a firm's bottom line .
A firm needs to develop strategies for sales, marketing, HR & operations. Getting the right info implies knowing what information is essential to the firm's decision-making process. The strategy begins with fundamental demographic data; then, it considers pricing based upon the education & earnings of purchasers.
For instance, a firm wants to sell a new skin care line to womenfolk. There are many key factors the firms must know to effectually design & implement a marketing strategy. Though the product might work for all females, will it target the younger teen group? Or, will it be branded for the aging female who's striving to cling on to her youthful skin? The label designing might be distinct for every cluster . A higher pricing point might not be affordable to the younger cluster, but research supporting the claims might be required to market a good with a greater pricing point to educated & professional older females.
In a situation like this, the firm requires data on the cost of products sold, along with the final product pricing & who’s most likely to purchase it. It will formulate the complete packaging around its largest segment, although others may purchase it. The analytics took not just numbers & cluster sizes, but what a particular demographic react to visually.
Ans 2=It is not sufficient to have the data. Great corporate leads utilize data effectually to make decisions. Presume that a cell phone producer utilizes components manufactured in China. If tariffs are levied on those components, the making costs of that phone will escalate. Comprehending the impacts of that data & what it does to the business’ profitability is imperative in developing a proposal that keeps the firm profitable. The corporate lead might seek to find a new supplier for components, who is less likely impacted by tariffs / international political circumstances. The corporate lead might decide to escalate the cost of its final good, effectually passing on the new cost to the customer.
Initially, the firm could also choose to do nothing & absorb the greater costs, as it sufficient profit margin to still be thriving, whilst many of its rival firms will need to escalate prices. This strategy is one that could lessen the profits-per-sale, however, it might escalate the demand for products, as its more competitively priced for customers; hence, the demand rises.
Ans 3=Threats to data quality-
There is no cure for human slipup, but making sure you have clear practices in place which are followed without fail is a good beginning. Utilization of automation tools to lessen the extent of manual work when moving data among systems is also very helpful in lessening the risk of errors by tired / bored employees.
Select a company with which you are familiar. Using that company as a basis detail and...
Select a company that you are familiar with or to which you have access to information. You should have access to information about the types of products/services the company offers, its industry, the size of the company, and where it is located (or where it operates). Briefly describe your selected company, including its industry; whether it offers products, services, or both; the size of the company; and where it is located or where it operates (if multiple locations). For your...
As the HIM supervisor, you are asked to educate staff on key concepts related to the release of information and patient disclosures, such as accurate system data entry, data quality, and authorizations and consents. You are also asked to discuss how the release process is initiated through the retrieval of information through the master patient index; and the affect system entry errors and duplicates. The master patient index (MPI) organizes patient information in relation to record processing procedures. 1. Explain...
As the HIM supervisor, you are asked to educate staff on key concepts related to the release of information and patient disclosures, such as accurate system data entry, data quality, and authorizations and consents. You are also asked to discuss how the release process is initiated through the retrieval of information through the master patient index; and the affect system entry errors and duplicates. The master patient index (MPI) organizes patient information in relation to record processing procedures. Explain the...
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I have a test coming up for fundamentals I need information about these subjects to study some I'm familiar with but still, I put them to gather all information, please for each one give a description and important points to know, I need answers typed please so I can understand it. Identify the seven parts to a medication order (patient’s name, date and time order is written, medication name, medication dosage, administration route, frequency of administration, and signature of prescriber)....
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Select a large U.S. public corporation you are familiar with or which interests you. It should be on the Fortune 500 list. Using the company's most recent annual report (or Form 10-K) from the company's Investor Relations web page and other credible internet sources, develop a short (1.5 to 2 page) profile of the corporation. Obtain and attach a PDF version of the most recent annual report (or Form 10-K) from the company's web site. Include the following information: Name...