Critical Perspectives on Business and Management

Discuss about the Critical Perspectives on Business and Management.

Emporium trading company is an Australian Company which imports products and services from the Asia and distribute them into the native retailer. The objective of Emporium Trading Company is to enhance its local business by including a new information system.

In this research report, the role of data analysis tool will be discussed like which tool should be used to evaluate the entire organizational information in order to enhance the overall business intelligence system (Fawcett, et. al., 2013). Another process which will also be used into this research report is data mining on which basis judgement or decision is to be taken regarding the suitable information. There is a one more problem which is discussed in this research study that is related to the ethical implications of using customer’s information because it is necessary to keep the customer’s information safe in the system in order to maintain their trust over the organization.

Emporium trading company basis aim is to increase the productivity of the organization by using new or upgraded information system in order to managing the transaction details properly. As a consultant system analyst, the identified scope of this research report is to analyse the current operations of business for providing an appropriate system to the Emporium Trading Company which will be helpful them to manage the purchases and sales transaction of the company (Hayes, 2017).

Research Methodology- This research is analytical in nature as the facts and information available through the company would be used to solve the research problem or to get answers of the research problem.

Data collection- Data plays a crucial role in research. Through data, findings and discussion were done which helped in completion of research. Secondary data was used in the research which was being taken from the company’s information system. Other method of collecting secondary data being used in the research is internet (Nonaka, et. al., 2013). Through internet data was collected about the various information systems which can be profitable for the company in regards of payment modes and making the information system more valuable.

Data analysis- After collecting the data, it was analysed in order to get useful information. This information was used further for discussion to reach a conclusion. Therefore, data analysis is important in research as the data which is not useful can be omitted through the analysis. In this research, data was analysed through charts and tables. Analysed data would help in making better decision to identify better information system for the company (Ponniah, 2010).

As it is discussed in the above research report that there is some issues in the Emporium trading company related with the data mining and about the safety of the customer’s information system. So, the particular purpose of this report is to develop a new information system which is helpful to solve out all issues. With the help of some below facts and figure, positives impact in the productivity has been seen.

The above figure explains the production level of the Emporium Trading Company which is continuously declining, when the problems and issues are developed in the company. As it is clearly visible that by not using proper business intelligence system, the total productivity of the organization has been decreased. So it is the main purpose of this research report to develop the new information system for the company’s operation in order to increase the productivity (Nix, 2017).

From the above graph, it is seen that after developing new information system overall business intelligence has been developed and that results in increase the production level of organization. And it is also clearly seen that in future i.e. in 2010 the productivity of Emporium Trading Company will also be increased on the basis of statics.

It is analysed with this research study that effectiveness of Emporium Trading Company has been influenced with the new business information system. By developing new information system, it is found out that company’s strategy, its structure, process and culture has influenced (Fawcett, et. al., 2013).

In this part of the report, discussion is done about the findings. Through the discussion, it would be easy to identify that which system is suitable for the company and what will be the advantage of using that system. Main problem with the present information system is with data analysis, data mining as well as ethical consequence of collecting, storing and using information of customers.

Problem of Data mining- Data mining can be defined as processing of data, identifying patterns and trends in that information which helps in judging or deciding something (Hayes, 2017).  In the present system, data mining is not proper as the size of the file are big and the information is vast. The information provided through the present system is not much useful, as the data is not processed in proper manner, patterns are not identified in way which it should be as well as the trends in information is also not update. These problems in data mining in the present systems of the company can affect its business. Therefore, data mining plays an important role in contemporary organizations as it is crucial to get processed information to make judgements for purchasing.

Data analysis tools- In simple words, data analysis can be defined as evaluation of data through logical and analytical way which provides useful information to support some decision (Nonaka, et. al., 2013). Data analysis tools also plays vital roles for contemporary organizations as it uncovers hidden patterns, provides information about market trends, preferences of customers, unknown correlations and other information which is useful for the organization to make business decisions. It is evaluated from the findings that the current data analysis tool in the system of the company is not proper. Many benefits can be driven by the company by using some other data analysis tools such as- new opportunities for higher revenue, viable advantage over competitors and improved operating efficiency.

Ethical consequence of collecting, storing and using information of customers - Information about customer’s preferences or choices is important to be identified for a business. As through identifying the customer’s preferences, company can know that what is being exactly want by customer (Ponniah, 2010). It is important for the company to store the information of its customer in proper and secured manner. The information system of the company shall deliver minimal risk of disclosing the information of customers. It is ethically and legally mandatory that customer’s information should not be disclosed to anyone.

Evaluation- It is being evaluated from the above findings that company’s present system is not as proper as it should be. Data mining and data analysis is important for the business expansion. Ad through proper mining and analysis of data, company can get useful information which would be helpful in achieving the goals of company and generating higher revenues (Earl, et. al., 2009).

Conclusion

From the overall research report it has been concluded that the earlier, productivity level of the Emporium Trading Company has started to be decline because of some issues like data mining on which basis decision needs to be taken regarding the selection of information. As the data which is currency provided by the system are not useful and not updated. This issue was affecting the business operations and its productivity. Another issue is with the data analysis tool. This organization did not have updated tool and by the effect of which company was not getting current patterns and trends of the market. It is more than essential for the company to recognize what customers want and what is currently trending. For a company, it is mandatory to keep customer’s information in a secure and safe manner and if this is disclose, then company can get into big trouble.So, that was important for organization to develop a new system in order to identify market trends and to keep customer’s information safely.  It has been also evaluated that after developing a new upgraded system, overall quality of information has been enhanced that leads to increase the effectiveness and productivity of Emporium Traded Company.

References

Nix, C. (2017). Data Analytics. CreateSpace Independent Publishing Platform.

Brown, M. (2012, 12 11). Data mining techniques.

Fawcett, T., & Provost, F. (2013). Data Science for Business. O'Reilly Media Inc.

Hayes, A. (2017). Data Analytics: A Quick-start Beginner's Guide. CreateSpace Independent Publishing Platform.

Nonaka, M., & Hedberg, J. (2013). Investing in Information: the Information Management Body of Knowledge. Boston: Harvard University Press.

Ponniah, P. (2010). Data warehousing fundamentals for IT professionals. NJ: Wiley: Hoboken.

Earl, M., Champy, J., & Mullins, N. (2009). Information technology and business process redesign. Operations management: critical perspectives on business and management. Journal of International Relations , 199-212.

Nix, C. (2017). Data Analytics. CreateSpace Independent Publishing Platform.

Brown, M. (2012, 12 11). Data mining techniques.

Fawcett, T., & Provost, F. (2013). Data Science for Business. O'Reilly Media Inc.

Hayes, A. (2017). Data Analytics: A Quick-start Beginner's Guide. CreateSpace Independent Publishing Platform.

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