Data in Finance - Overview, Applications, Challenges

UNIVERSITY OF SUNDERLAND PROGRAMME
ASSESSMENT COVER SHEET / FEEDBACK FORM
Module Name/Code:
APC311 International Financial Reporting
Student Name & ID:
KUVONDIKOV CHINGIZ
B1702518/bh59on
Due Date:06 May 2022Center / College: MDIS in Tashkent Hand in Date:03 May 2022
Assessment Title: Individual Assignment
Learning Outcomes Assessed: 100%
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Assessors Signature: Overall Mark (subject to
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Contents
Introduction...................................................................................................3
Data definition............................................................................................4
Data as an Asset..........................................................................................5
Data Valuation............................................................................................6
Valuation Methods......................................................................................7
Accounting Data View................................................................................8
Conclusion...................................................................................................11
References...................................................................................................12

Introduction
The Fourth Industrial Revolution, in my opinion, is about to herald in a completely new period in
the history of the human race. Advances in technology have made it simpler than ever before for
companies and organizations to interact with their consumers on a personal level. Client data, in
particular, is a precious resource that must be protected at all costs by all workers in any business
that wishes to achieve financial success via providing outstanding customer care to its customers.
In order for this data to be useful, structured data, such as user preferences, must be given. In this
circumstance, extreme vigilance must be used at all times. In order to boost efficiency, it is
necessary to prioritize customer service above all other considerations. Cash, which was perhaps
the most highly valued business asset, has fallen out of favor in recent years. The data held by a
corporation may be used to help increase sales by offering useful information about potential
clients. The information gathered by businesses is increasingly being utilized to develop artificial
intelligence systems (AI). The use of data-driven technology distinguishes this technology from
its competitors. Many of the activities we do on the job are now capable of being handled fully by
software, lowering or even eliminating the need for human interaction. Advanced versions of the
same technology, such as deep learning and predictive analytics, are used by sales and marketing
teams to boost their efficacy. In the long run, these new features will be advantageous to the
organization's growth as it continues to grow. The use of artificial intelligence (AI) may be
beneficial in the case of labor-intensive activities. Technological improvements may enable us to
be more intelligent and proactive in our decision-making processes. Companies may also be able
to anticipate their own actions and decisions in the same way. It is in everyone's best interests to
assist a client before an issue emerges; thus, please do it as quickly as possible. Not only that, but
it also employs artificial intelligence to choose which transactions should be cracked first, which
is quite inconvenient.

Data definition
Using data, the Organization connects with the problem and works to solve it. It's far simpler to
interact with consumers if you know what they want before they arrive. It is vital that products
and services have both pre- and post-communication obligations. Effective communication may
be improved with the use of high-quality data. A company needs data to help them solve their
problems if they want to become more productive. A great method to start building a stronger
connection with a client is to use data collected at the beginning of their journey. There are a
number of ways in which a company's success might be improved by using this technology. In
most cases, pertinent data helps businesses anticipate what their customers want. In any situation,
the most useful knowledge is the one that best meets the needs. With this information, managers
may use it in a number of ways, like prioritizing customers who are most likely to buy above
those already available. Because of this, the firm will be able to predict its success, since correctly
filtered data aids in sales. Businesses might therefore efficiently broaden their primary offerings.
Customers in every scenario may benefit from this method, which was created to deal with any
and all problems that may arise. Data facilitates a company's capacity to conduct business as it
sees appropriate. Data blocks may be utilized to address a wide range of organizational
challenges. We need a shot in the arm if we want to grow as a business or a person. We may take
use of this great asset data to help us succeed in life or company, for example. It captures
everything we do and arranges it into manageable portions.