Technology and tools for analyzing large volumes of information used by large corporations to make business decisions are also available to businessmen and small companies.
Finding the best location for a new sales point, finding the areas where potential customers move and analyzing their purchasing power and their behavior as consumers are just some of the things that can be done today with the help of new technologies.
Because of the tension between the productive sector and the government, coupled with the lack of official statistics from the Central Bank, some companies in Nicaragua have chosen to stop providing information to the authorities.
In an attempt to hide the complicated economic situation, the country is going through, local authorities have not published information on the Monthly Economic Activity Index since February 2019, when the year-on-year drop was 7.5%. This prevents businessmen from making decisions based on the real situation of the economy.
In Nicaragua, the authorities have not published information on the Monthly Index of Economic Activity since February 2019, when the year-on-year fall was 7.5%, a situation that prevents businessmen from making decisions based on the real situation of the economy.
Using information without defined objectives and not integrating it across the entire company are part of the mistakes that organizations can make when analyzing large volumes of data.
Although there are still many companies that have not begun to analyze the information they accumulate in their operation, there is a risk that the efforts they make in the future will not achieve the expected results if the mistakes that some organizations tend to make in the process are not avoided.
The 2017-2018 Guide by the Nicaraguan - German chamber of commerce provides details on tax exemption regimes by sector, requirements for foreign investors and other data.
It has been estimated that this year companies´investment in business intelligence systems and data analysis will grow by 12% globally, driven by the banking sector and the manufacturing industry.
According to estimates by the firm International Data Corporation (IDC),"...
The availability of data, a new generation of technology, and a cultural shift toward data-driven decision making continue to drive demand for big data and analytics technology and services.
Availability of information, new technologies and cultural change towards making decisions based on data is changing the way we do business.
According to estimates by the firm International Data Corporation (IDC), at the global level "...
State officials do not own the information they manage, and when that information has not been legally declared as reserved, they must ensure its availability to the public.
EDITORIAL
And 'availability´means that public institutions must have all the doors to obtain it wide open, both administratively and technically.
State officials often create administrative barriers to free access to public information, in the form of lengthy bureaucratic processes, including sometimes filling out forms that include insidious questions about what the information will be used for.
The increasing speed and ease of direct access to the information needed for decision-making, is drastically reducing the number of middle managers who used to be hired to provide them.
In companies of the last century when a sales manager needed information about last year's sales in order to take a relevant decision, he or she had to contact their assistant manager, who was responsible for collecting information and presenting it to the director. Nowadays, the direct and easy access to all information concerning day-to-day business allows the same director to touch a screen, get the information and make the decision, reducing costs and saving time.
A draft bill, if approved, would give the State permission to access confidential information on private companies and create a state company that controls access to the Internet.
Representatives from the Superior Council of Private Enterprise (COSEP) argue that this draft law goes against the "principles of free enterprise," which if approved would become "an anti private investment law". It was further noted that jurisdiction would be given over fixing prices to the regulator of telecommunications (Telcor), "... which would cause a rise in rates for Internet access."
A group of ten companies from Mexico will be visiting the country to explore business opportunities in the mining sector.
The trade mission from the Mexican state of Zacatecas, which also includes providers of services, products and consulting, will meet with representatives of the Nicaraguan Mining Chamber for three days to study investment opportunities in the mining sector.
The Chamber of Industries in Costa Rica has filed an administrative appeal against the decision by the Treasury department to require major contributors to produce records of their shareholders.
From a statement issued by the Chamber of Industries of Costa Rica (ICRC):
Up until March 18 a delegation of 51 Taiwanese companies will be in the country exploring business sectors of spare parts for cars and motorcycles, hardware and construction.
From a statement issued by the Chamber of Commerce of Guatemala (CCG):
Many of the officials working in Central American governments are annoyed at the idea of the information they handle being accessible to citizens, and one way or another, they are impeding its availability.
EDITORIAL
"- Send a letter to Mrs Fulana, the person in charge of authorizing the release of information you have requested, stating the reasons for your request".
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