The Value of IT

The Value of IT

Over recent years, there have been many advances that have been made in technology. The advances come with many benefits and lead to the development of many nations. Modern companies are embracing the idea of Information technology and using it in their daily management practices. An excellent example is the use of social media sites to market their goods and services. In addition to that, the means of technology7 are used in the analysis of markets and market forces before arriving t decisions in many organizations. This paper I  an explanation of the value of IT-based on a course reading.

The valuer of IT  is seen in several ways. The first one is gaining a competitive advantage over other companies through the use of IT. A company that has very well developed IT technology is likely to analyze the area of operation properly before making any business decisions. In that case, the company makes decisions after considering all the factors. The result is the reduction of failure and development of the company based on the trends. It is also a means to become more competitive. The main idea behind the competition is finding what the other competitors do not have and using it to ain more clients. IT enables one to look int the market and analyze it to come up with a better means to fulfill the needs of the client. It is, therefore, true that IT adds value to a business.  It is also more efficient and at a relatively cheaper cost compared to the regular management. It offers a persona

The best way to find a qualitative handle on the value of IT in an organization, one needs to access the developments that their firm has made and remove the value that IT has added to the organization. In the case of Barton, he used the resources he had to analyze the company. The fists means was the conversion of the annual reports into the balance sheet. He then calculated the value of assets that he had made that year. From there, he reduced the amount that IT had added to the company. This can be done by analyzing the decisions that were reached using information gained via modern management practices. The method is qualitative since the choices are not numerical, and they can only be analyzed as facts.

Several means can be applied in boosting the black box of IT value versus spend. The first one is prioritizing. One should arrange the business needs in order of urgency and importance. The management team also needs to look for alternatives in case the ideas they had planned are unavailable.  One should also maximize the use of the cloud. It helps in eliminating physical infrastructure hence reducing the payments done.  Cloud storage is vast and more convenient, which means that the IT business will run smoothly. Ne should also increase the number of consultants and contractors. It helps in expanding the scope of knowledge about the market that one is in and enables the business decisions to e more suited to the economic nice they are aimed at filling.

A table of Earned Value analysis based on activities done. Here is a picture of the events and the field report at the end of day 7.