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Financial Statement of British Airways Plc

   

Added on  2021-02-20

15 Pages3641 Words44 Views
Using Information

INTRODUCTIONData is termed as distinct pieces of information that are collected and arranged informatted manner to make it reliable and easy to understand. All the facts related to a particulartopic are mentioned in data and provided when required. Each activity that is performed by anyindividual or organisation is derived through information that is acquired through data. Whileconducting business operations large amount of data is collected relevant for decision making inbusiness. When stability of a business needs to be identifies then its financial statement aretermed as data that provides relevant information (Bland, 2014). In this project report financialstatement of British Airways Plc is considered to provide detailed information regarding datausing information. In this report different types of data and principals behind financial statementis provided. Together with this usage of data analysis in decision making and calculationdeviations in standard and current situations. A method to improve data quality of BritishAirways Plc will be provided in this report. TASK 1a) Qualitative and Quantitative dataData is a form of information that has been translated into form that is efficient forprocessing and decision making. Statistics is used to define data that are collected in differentforms to grab the required information. In broad manner data is segregated into two forms one isquantitative and other one is qualitative. Qualitative data: It is concerned with description that can be noticed but can not becomputed in numerical form. It is a non-statistical and ambiguous form of data. It is categorisedon the basis of properties, attributes, labels and other identifiers. Qualitative data is descriptiveand conceptual in nature that is collected through observations and interviews. Qualitativeinformation like consumer satisfaction, employees motivation is the qualitative data for BritishAirways Plc that helps in success of business (Delen, Kuzey and Uyar, 2013). Quantitative data: It is counted, expressed and measured using numbers. This form ofdata helps in discovering facts and represented in form of a numerical value. British Airways Plcfinancial statements represents performance data and all the information is provided inquantitative form. Decisions based on quantitative information is easy as variation needs to bejudged on the basis of numbers.

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