Assignment 1 Week 5 - Essay Example

The air that we breathe in is that of Information Technology. Previously, people were more worried only about their businesses and a little about their competitors. However, in the age that we are living, entrepreneurs need to stay updated on the status of their competitors.IT is used nowadays as a key that determines future strategies and plans because the information that latest technologies can provide can be used to define future objectives and strategies keeping in mind what is happening in their vicinity, city, country or the entire globe.

The kind of in-depth information that can be extracted from Google Analytics and Gap minder etc. help entrepreneurs learn what trends a certain country has been following or what are the driving factors for people. Google Analytics gives details of traffic, sources of traffic, new visitors, average number of pages visited, the search engine driving most traffic and even the key words driving traffic.There are some sites that even provide information regarding how trends in countries have changed.

Such data can be used by entrepreneurs when entering new markets and when venturing into new business arenas. This whole data eventually leads to the fact that entrepreneurs need to keep bringing innovation, because at the end of the day it is the entrepreneur’s Unique Selling Proposition that makes him the winner.IT is not only used for competitive analysis, but is also used by different professionals in order to look for information regarding their field. For instance, IBM has designed an innovation called Care360 which helps the doctors to learn about the effects of a certain medicine on a specific patient.

This has helped the doctors and the patients by giving them satisfaction and a sense of safety and security. Thus, IT is important in all fields of life these days, because it helps in giving the users competitive edge and ease. It is not just information; rather it is the right hand of innovation. “Google Analytics Interface Tutorial.” 19 February 2008. YouTube. 2 June 2011 “Google Analytics for Business Intelligence.” 3 April 2008. YouTube. 2 June 2011 “Tutorial for Gapminder World.” n.d.

GapMinder. 2 June 2011 “IT strategy drives competitive advantage at Quest Diagnostics.” IBM. IBM Corporation. n.d. Web. 2 June 2011