Improved decision making
– Without accurate information:
• Managers must use forecasts, best guesses, luck
• Leads to:
- Overproduction, underproduction of goods and services - Misallocation of resources
- Poor response times
• Increase outcomes, raise costs, lose customers – Example:
• Verizon’s Web-based digital dashboard to provide managers with real-time data on customer complaints, network performance, line outages, etc