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ECONOMICS: THE VALUE OF ECONOMIC DATA1Economics: The Value of Economic DataSarah K. HobsonLiberty University: Executive Certificate
ECONOMICS: THE VALUE OF ECONOMIC DATA1Economics: The Value of Economic DataHughes-Cromwick and Coronado’s (2019) article on the value of economic data inmaking sound business decisions provides an in depth look at diversified economic and financialaspects of the United States government and how this information impacts the business decision-making process. Since the government is responsible for producing and widely disseminatingfinancial statistics to its citizens, organizations have an opportunity to put this statistical evidenceto good use in their business decision processes. Three industries that the literature includes inthe research encompass financial services, automotive and energy. The article goes on to explainhow technology has affected why organizations utilize and maximize the economic and financialinformation being distributed to their corporate advantage. This includes how and why theinformation allows an organization to forecast future corporate endeavors and cultivate futurebusiness ventures. Furthermore, the article discusses qualitative research regarding howpreparing and distributing the public information, thus allowing it be readily available to privatecompanies, is crucial in guiding their own statistics (Hughes-Cromwick & Cronado, 2019).

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Term
Spring
Professor
NoProfessor
Tags
Economics, Government Information Quarterly

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