At an insurance company, the cost of processing each claim is $1, but the average downstream cost due to errors in a claim is $300. The $300 average downstream costs included manual handling of exceptions, customer support calls initiated due to errors in claims, and reissuing corrected documents for any claims processed incorrectly the first time. In addition, the company faced significant soft costs from regulatory risk, lost revenues due to customer dissatisfaction, and overpayment on claims due to claims-processing errors. These soft costs are not included in the hard cost of $300. Every day health-care administrators and others throughout the health-care supply chain waste 24–30% of their time correcting data errors. Each transaction error costs $60 to $80 to correct. In addition, about 60% of all invoices among supply chain partners contain errors, and each invoice error costs $40 to $400 to reconcile. Altogether, errors and conflicting data increase supply costs by 3–5%. In other words, each year billions of dollars are wasted in the health-care supply chain because of supply chain data disconnects, which refer to one organization's IS not understanding data from another's IS. 1. IT at Work 3.1 Questions (10pts) A. Why are the downstream costs of data errors so high? I B. What are soft costs? C. Explain how soft costs might exceed hard costs. Give an example. 2. List three types of waste or damages that data errors can cause. (10pts) 3. Explain the four V's of data analytics. (10pts) 4. Network Questions (10pts) a. How are devices identified to a network? b. How is network performance measured? c. Explain the functions of switches and routers. 5. What are the benefits of APIs? (10pts)