Data Handling and Decision Making: Doc

DATA HANDLING AND
DECISION MAKING

TABLE OF CONTENTS
DATA HANDLING AND DECISION MAKING.........................................................................1
QUESTION 1..................................................................................................................................1
Statement of current financial and non-financial data that have been used by organisation in
decision making process..............................................................................................................1
Data analysis integrity and identification of gaps........................................................................1
Map between functions and data sources....................................................................................2
QUESTION 2..................................................................................................................................2
Description of data flows between organisation and its stakeholders.........................................2
Improvements in data integrity of proposed data analytics framework......................................3
Data protection and ethical assurance requirements....................................................................3
CONCLUSION................................................................................................................................4
REFERENCES................................................................................................................................5

ESSAY
“DATA HANDLING AND DECISION MAKING”
INTRODUCTION
To analyse the financial health of an organisation it has been required that there must be
records of various data in the accounts which is termed as data handling, that will be used for
meeting the operational goals and managing the activities of firm. In the present report there will
be analysis over the data which have been used by Barclays Plc for decision making and
ascertainment of the outcomes that will be effective in terms of designing the operations. Along
with this, there will be analysis over the UK economic conditions which will have impacts on
analysing the operations in the right manner.
QUESTION 1
Statement of current financial and non-financial data that have been used by organisation in
decision making process.
To implicate the effective rules and regulations which help an organisation with respect to
make profitable decision and bringing the adequate information (Jiang, Ramkissoon and
Mavondo, 2016). Thus, there are several techniques through which business can gather the
adequate information. It includes use of various methods which will be helpful in making
changes in the operational tactics.
Financial information
 Income statement (Profit and loss as
well as income and expenditures)
 Balance sheet (Assets and Liabilities)
 Cash flow statement (Inflow and
outflow of cash)
 Changes in equity (Capital investment)
Non-financial information
 Human resource management
 Operational activities
 Managerial strategies
 Corporate social responsibilities
 Environmental effects
Data analysis integrity and identification of gaps
The reliability of the data is referred as data integrity. This reliability has been helpful with
respect to make adequate operational changes and meeting the requirements at the right time.
In Barclays there have been implication of various analysis and data base which will be
adequate and helpful in managing the operational practices in the right manner. Therefore, data
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integrity is referred to the extent on which the completion of information has been taken into
consideration such as completeness, consistency and accuracy of the information (Hall and
Buckley, 2016). There must be arrangements of integrated data to have reliable information for
decision making. Along with this gap are relevant with the identification of risks in the business.
Moreover, in relation with analysing the performance of Barclays on which it can be said
that there have been issues relevant with stockholder generation and profitability of the
organisation that are required to be concerned by the firm. Profitability of an organisation affects
its number of shareholders in the organisation.
Map between functions and data sources
In respect with analysing the adequate map between the functions and data sources which
have been impacted by the business professionals where there must be implication of various
software and techniques such as ERP software and use of financial statements for the operations
(Chaniago, 2017).
To overcome with such gaps there will be requirement of managing the operations of firm
on which ascertaining the income and expenses are the prime concerns which are required to be
considered by professionals of Barclays.
QUESTION 2
Description of data flows between organisation and its stakeholders
In accordance with determining the impacts of data and details which have been
considered by the business professionals with effect to manage operations, strategic planning and
development of policies that will help in meeting the targeted aims for the organisation.
However, there have been various data sources which are being used by Barclays with a motive
to make adequate operational analysis (Cohen, Prayag and Moital, 2014). However, there have
ben various plans which are to be used by the professionals of industry such as:
Strategic planning:
There have been various strategies and techniques which are to be used by the business
professionals such as financial information of the firm. The results shown in the financial
disclosures will help organisation professionals of investor in relation with planning investment
in the frim (Jung, Chung and Leue, 2015). It can be relevant with making investment of mergers
and acquisition of the firm. Therefore, such strategic plans will be helpful in terms of meeting the
strategic risks in the most prominent way.
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Tactical planning:
This is the short-range planning and strategy making process which will be effective in
terms of making adequate plans. Therefore, there have been development of various strategies
for the production, marketing, finance and personnel planning. Thus, these are the information
which have been used by the managers, supervisors of Barclays in respect with developing the
tactical policies for their performance and for the employees who are working the in organisation
(Chaniago, 2017). Therefore, identification of such information will be helpful to the business in
respect with mitigating the tactical risks in the organisation.
Operational planning:
To make the appropriate operational reforms in the business practices on which there have
been requirement of informative data such as revenue, expenditures as well as utilisation of
funds in each tasks of the firm (Cohen, Prayag and Moital, 2014). Thus, to analyse such details
there will be use of income statement and cash flow statement by the professionals at Barclays
which will help them in redesigning the policies and strategies to make improvement in the
operational performance. These are relevant with detecting fraud, meeting legal risks,
environmental and political risks. There can be influences of the external stakeholder which will
create obstacles in industrial performance.
Improvements in data integrity of proposed data analytics framework
By considering the improvements which are to be implicated by the professionals at
Barclays which have presented that there must be consideration over the reliability, completeness
and accuracy of the information. Thus, a corrective informative detail will be adequate and
helpful with respect to meet the operational goals at the right time.
Moreover, it will be suggested to the professionals of this industry that they must implicate
the use of cloud accounting and storage of the data which will be helpful and adequate in terms
of making effective business plans (Hall and Buckley, 2016). The integration of such
information will be helpful in terms of recording variation and making audit analysis at anytime
and anywhere. This technique will help in attaining data integrity.
Data protection and ethical assurance requirements
As per considering the requirement of ethics and various operations consideration which
will be adequate and informative with respect to make appropriate analysis over the data base.
However, there have been various laws and regulation which have been enacted by the
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government with respect to make fair transactional activities (An Ethical Approach to Data
Privacy Protection, 2017). It requires that the professionals of Barclays must be considered
about data confidentiality and protecting the reliable information which will be helpful in
governing business tasks easily. However, there are various authorities and regulatory which will
be helpful in terms of data privacy protection such as International Data Privacy Principles
(DPPs).
There must be use of effective information which will be adequate for the firm with respect
to protect and collect the adequate information. Thus, it is mandatory for the banking industries
to include appropriate confidentiality in the operations.
CONCLUSION
On the basis of above report, it can be said that, there have been various advantages to the
business which are based on proper auditioning of accounts. The generation of reliable and
accurate information will be effective in terms of making decisions for industrial development.
Further, this report had discussed about the data collection, protection and management operation
of Barclays with suggestion based on implicating the cloud accounting techniques into
operations.
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REFERENCES
Books and Journals
Chaniago, A., 2017. PENGARUH MUTU PELAYANAN DAN NILAI PELANGGAN
TERHADAP LOYALITAS PELANGGAN. JURNAL LENTERA BISNIS. 1(2). pp.1-15.
Cohen, S. A., Prayag, G. and Moital, M., 2014. Consumer behaviour in tourism: Concepts,
influences and opportunities. Current issues in Tourism. 17(10). pp.872-909.
Hall, L. M. and Buckley, A. R., 2016. A review of energy systems models in the UK: Prevalent
usage and categorisation. Applied Energy. 169. pp.607-628.
Jiang, Y., Ramkissoon, H. and Mavondo, F., 2016. Destination marketing and visitor
experiences: The development of a conceptual framework. Journal of Hospitality
Marketing & Management. 25(6). pp.653-675.
Jung, T., Chung, N. and Leue, M. C., 2015. The determinants of recommendations to use
augmented reality technologies: The case of a Korean theme park. Tourism
management. 49. pp.75-86.
Online
An Ethical Approach to Data Privacy Protection. 2017. [Online]. Available through :<
https://www.isaca.org/Journal/archives/2016/volume-6/Pages/an-ethical-approach-to-
data-privacy-protection.aspx >.
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