Businesses today are not what they used to be. Fifty years ago commercial businesses would be opened and operated on relatively few known factors compared to modern enterprises. The main concerns were location of resources, size of market, supply routes, and the production or sales process of the main product or service. To be successful in today’s market companies have to consider not only these factors but how far down they can analyze and retool these business processes in order to improve efficiency. The rapid growth in technology and competitiveness in the marketplace has forced companies to make crucial decisions such as what international shipping modes to use. Risks such as funding research & development to the point of no return for a new synthetic material that may or may not give you the upper hand over your apparel competitors are commonly taken. With the internet and the ability to sell and ship items around the world at lower and lower costs every little idea and process in a company must be constantly monitored and revolutionized or updated if it is going to keep the overall goal profitable. This monitoring and examination of processes requires accurate data and relative information about that data known as metadata. This is where the modern information technology departments of companies come into play. While it used to be pen and paper or maybe a logbook to keep track of products and services, we now have ever-evolving databases that keep track of data sets that are more and more intricate, recording every business process and statistic. A company’s ability to use this data and transform it into useful information that can benefit employees at each level will determine the success of that business.
Most IT depa...
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...hods to fix it IT professionals must analyze the statistics associated with individual processes. In compiling this data, experts will be able to analyze it and discover a chain of responsibilities that result in the problem. Technology developers and providers will thus realize a deeper understanding of how, when, and why these errors occur allowing them to create a solution to be implemented. As an example, the Hospital San Martino in Italy has started using a new technology for increasing the safety of drug administration, combining an automated drug cabinet and a patient-tailored dose preparation. This risk-reduction initiative allowed them to save two million Euros on the insurance fee.
A company’s ability to use data and transform it into useful information that can benefit employees at each level will determine the success of that business.
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