How is the concept of incremental analysis used in decision-making?

What does it mean when someone says "You get what you measured"? What are the impacts of information technology?

Expert Solution

1. How is the concept of incremental analysis used in decision-making?

Incremental analysis is a decision-making method. Business owners use this to compare the costs of various solutions. It assists company owners in determining the expenses of various options and their effect on future revenue (Harmon, 2016). Allocating resources, adding or removing a part of the company, and altering product sales or processing processes are just a few examples.

2. What does it mean when someone says, "You get what you measured"?

When management measures variables accurately and efficiently, the adage "you get what you measure" applies. In other words, anything a company does is contingent upon its analysis and forecasting. These metrics are achievable with appropriate application.

3. What are the impacts of information technology?

Today, information technology has a profound effect on our world. It has had a significant impact on our health care system, education, and economy. IT has advanced tremendously in the medical sector. Innovations such as prosthetic legs and arms upgraded with built-in artificial intelligence and new research techniques to cure various illnesses have improved the medical community (Atarodi & Atarodi, 2019). Additionally, technology has improved the efficiency and productivity of the educational system. New e-learning platforms have made it simpler to study from home, obviating the need for excessive reliance on textbooks. Numerous companies improved their efficiency through information technology.

References

Atarodi, A., & Atarodi, A. (2019). The impact of information technology on health. Journal Of Research And Health, 9(3), 193-194. https://doi.org/10.29252/jrh.9.3.193

Harmon, C. (2016). Mccc.edu. Retrieved 7 July 2021, from https://www.mccc.edu/~horowitk/documents/Chapter07_002.pdf.

The economic effect of technology has resulted in greater output and intense rivalry among companies.

frankdube answered 2 years ago

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