Data Insights in Amazon Company

This report explores the types of data collected and used by Amazon Company, including first party, second party, and third party data. It discusses how this data is used in various departments such as research and development, human resources, and finance. The report emphasizes the importance of data analysis and its impact on decision-making in organizations.

DATA INSIGHTS

Contents
INTRODUCTION.......................................................................................................................................3
MAIN BODY..............................................................................................................................................3
CONCLUSION...........................................................................................................................................5
REFERENCES............................................................................................................................................6

INTRODUCTION
In each type of organization, there is a significant role of data collection and analysis. The
analyzed data is used for tracking the movements of different factors and their impact on
business (Law, Endert and Stasko, 2020). As well as collected data are used by administration
department of companies in order to make effective decisions. In companies’ there are mainly
three types of data which are used by businesses like first person data, second and third person
data. The report is based on Amazon Company whose analysis is done related to which types of
data are used and their importance.
MAIN BODY
2. What type of data is collected and used by company.
Data plays a critical role within predicting patterns as well as comprehension of activities of
people, thoughts and feelings. Data’s role is to encourage entrepreneurs to make decisions based
on the information, patterns and statistics (Ghasemaghaei and Calic, 2019). But company leaders
with too much knowledge have to be able to check the noise to obtain the right knowledge to
make the best choices about management and strategic. Wide function is being performed by
knowledge and data inside Amazon Company. Apart from it in Amazon, data is of vital
significance because it contributes to decision-making. HR gathers data for recruitment and
clarification of information by online medium. In above company, below mentioned data are
collected which are as follows:
 First party data (market) - Data obtained directly from the group of clients, guests and
social media backers is the first party data. Information recorded from the business. "First
Party" means the person who gathered the data personally for re-targeting purposes. Such
as in the context of above Amazon Company, first party data is about market. They use
data about current market trend, competition, demand etc. This first party data can be
gathered from online sources or from competitors’ websites.

 Second party data (customers) - Second party information is 1st Party data, which, for
shared benefit, two or more entities plan to exchange on a 'private' basis (Network, 2019).
It just includes shared client information and exchanges with the data partners a section
of consumers that you access. They are the ones for whom data are created or generated.
For instance, if Amazon does not fulfill its clients ' expectations, its profits would drop.
 Third party data (Suppliers) - Data obtained from a multitude of outlets by an enterprise
without any clear link to the user whose information is analyzed is known as third-party
data. Datasets from third parties can include blogs, social networking, polling and
concessions. This data is gathered in order to know the prices of raw materials sold by
various individuals.
These all types of data are used by Amazon Company in order to meet demand of customers as
well as they become able to use their available funds by making appropriate strategies. Herein, it
is important to know that data needs to be filtered in an effective manner so that managers can
take proper actions in less time and expense.
3. How information and data is used within the day to operations of organizations within that
sector.
The above mentioned data is used by Amazon Company for various kinds of purpose and
objectives. Below uses of this data is explained in such manner:
 Helps in understanding customers’ need- The second party data is used by Amazon
Company in order to assess need of customers. This becomes possible only because of
gathered data about customers’ like, dislike etc. By help of this data, company becomes
able to supply needed products by customers.
 Contributes in understanding market trends- The above data is useful for Amazon
Company for understanding trend in market. This can be done by help of first party data
by above company. They can make preparation of further policies for beating their
competitors.
 Helps in getting material at lower rate- The third party data is useful for above company
in order to select suitable supplier for making purchase of raw material. It can become

feasible only because of getting information about suppliers and company can negotiate
their prices of raw material.
Data has been extracted from various resources and could now be used to determine if each
department interacts with Amazon. The data is collected from different sources. Below detailed
analysis of usage of different kinds of data in Amazon Company is explained in such manner:
Research and development department- The organization determines whether to pursue or deny a
proposal prior to its development on the basis of research study (Ivanisevic and Want, 2019).
The use of broad data in analysis before creating and developing a planning approach allows
companies to prepare potential product changes, not past data observations, based on expected
values. In the context of above Amazon Company, different kinds of data is used by research &
development department for customer analysis and demand of product in market.
Human Resource Department- They gathers data from the internet and the Amazon database
offices in compliance with their needs. HR teams can make stronger HR decisions by results,
consider the market consequences of people and assess them, strengthen decision making in
human resources problems through leadership, reliability and productivity of HR systems and
activities, and increase organization's business health and efficiency. Similar to above company,
they use the data in order to recruit new employees and this can be done in accordance of online
and offline data segment. For human resource department data is used for selecting the right
candidate in less time period.
Finance department- In the context of finance department various kinds of information is used in
order to allocate funds in an effective manner so that higher value of return can be produced
(Ahmed, Bath, Sbaffi and Demartini, 2019). Finance department use data related to personal
employees salary, their present in a month as well as they focus on external data also like interest
rates, inflation of market. In the absence of complete data this may become difficult for above
department to know about current market trend related to economics, finance and many more. By
help of appropriate data this becomes easier for above company’s department to make
appropriate strategies and plans.

Thus, from above discussion it can be stated that data analysis and its usage in companies is very
important. It leads to better planning of various kinds of aspects and the data is not limited to a
particular department. This is commonly useful for each types of department.
CONCLUSION
On the basis of above project report this can be concluded that data collections and analysis is
too crucial for each types of industry whether it is manufacturing department or other
department. In the context of above Amazon Company, this can be stated that they use all types
of data including first party, second party and third party data. As well as their each department
of above company is linked with data and these data is used in an effective manner.

REFERENCES
Law, P.M., Endert, A. and Stasko, J., 2020. What are Data Insights to Professional Visualization
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Ghasemaghaei, M. and Calic, G., 2019. Does big data enhance firm innovation competency? The
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Network, M.G.E., 2019. Insights into malaria susceptibility using genome-wide data on 17,000
individuals from Africa, Asia and Oceania. Nature communications, 10.
Ivanisevic, J. and Want, E.J., 2019. From samples to insights into metabolism: Uncovering
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Ahmed, W., Bath, P.A., Sbaffi, L. and Demartini, G., 2019. Novel insights into views towards
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& Libraries Journal, 36(1), pp.60-72.
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