Page 25 - Reclaim YOUR DIGITAL GOLD (without audio)
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Data is the New GolD



            3. Achieve the Desired Results
            Data can be used to evaluate the efficacy of a strategy.
            For example, when attempting to solve a problem, it is
            critical to collect data on how well the selected solution
            works and whether it needs to be improved or altered in
            the long run.


            4. Look for Problems and Solutions
            Businesses can use data to identify the root cause of
            problems. Organizations  will  only be able  to see  the
            connections between the activities in various locations,
            departments, and systems if they have access to data.
            Does an increase in pharmaceutical errors, for example,
            correlate with increased employee turnover or vacancy
            rates? We can develop more precise theories and more
            effective treatments by comparing these types of data
            points.


            5. Strategy Approaches

            The  correct data  strategy  can lead  to increased
            productivity.  Organizations  can  better  utilize  scarce
            resources  by  using  effective  data  collection  and
            analysis. For example, let’s assume that there has been
            an increase in severe accidents in a specific service area.
            This information can be scrutinized further to determine
            whether  the  increase  is  spread  across  the  country or
            only  concentrated  in  that  single  location.  Instead  of
            dealing  with  a  system-wide  issue,  training,  staffing,  or
            other resources can be used to address the issue in that
            specific  location.  Organizations  can  also  use  data  to
            determine which areas of improvement to focus on.




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