Data Planning: Analysis of Internal and External Data Sources Impact

This report delves into the significance of data planning in modern business, emphasizing the use of both internal and external data sources for effective decision-making and strategy formation. Internal data sources, including absenteeism rates and employee turnover, are assessed for their impa...Read More

Running head: DATA PLANNING
Data Planning
Name of the Student
Name of the University
Author Note

1DATA PLANNING
The modern business sector is observed to be significantly complex and the
organizations are notably inclined to the effective usage of the data for the decision making
and the strategy formation purposes. The planning of any modern business organizations is
observed to include two different sources which are internal and the external sources. The
paper is focused in the assessment of the impact of those two sources of data in the modern
business context.
As the implies, internal sources of data are concerned with the information, that is
generated within the organization and for the paper the chosen information from the
mentioned source are considered to be the absenteeism data and the employee turnover rate.
On the other hand the external data is concerned with the facts and figures of the external
environment of the organization. For the paper, the chosen information from the mentioned
sources are the cost of living allowance and the oil and gas market trends.
Internal sources:
The organization’s effectiveness largely depends on the employees of the
organizations and any sort of planning purposes that may be a business expansion or the
achievement of higher growth rates is notably dependent on the efficiency of the employees.
Under such situation the availability of the employees is a crucial factor (Ackers, Ioannou
and Ackers-Johnson 2016). As the employees present inside the organization will be
responsible for increasing the production or the manufacturing of the concerned organization,
the statistics for their availability of the rate of absenteeism becomes crucial. Hence the rate
of absenteeism will be in consideration for the assessment of the available resources and the
effectiveness of the organization in approaching their desired growth.
As the modern organizations are facing the significant impact of the competition, the
maintenance of the quality in the services is of great significance for the organizations. In

2DATA PLANNING
order to survive in the competition and continue the increment of the growth, the
organizations are liable to retain the employees who had the potential to serve the companies
in an effective manner. Hence the rate of employees leaving the organization becomes crucial
for the organizations as that hampers the growth (Zopiatis, Constanti and Theocharous 2014).
As an effect, the organizations are liable to consider the impact of it in the assessment of the
available resources for the organization in considering the preparation of the organizations in
approaching any growth.
External Sources:
In order to effectively plan for the achievement of the growth, the business
organizations are liable to consider the impact of the market condition. A company’s
establishment in the market will be highly influenced by the statistics of the concerned
company’s product in the market. The consumption of the products and the services that a
particular company offers in the market needs to be identified before the planning for the
growth (Perrons 2014). If the market trends is positive, then it becomes easier for the
companies to achieve the growth or plan for the growth. On the other hand, if it is negative,
then that is significant for the assessment of the fact the company will face difficulty.
The assessment of the cost of living allowance (COLA) becomes crucial for the
companies as that influences the cost of the products or the services that they offer (Belfield
et al. 2014). The rate of COLA is observed to be a concern for the companies in employing
competitive pricing. However it is an important factor for the organizations in retaining their
employees. In order to provide an effective balance that can help the companies in effective
planning, the organizations need to consider the mentioned aspect.

3DATA PLANNING
References:
Ackers, L., Ioannou, E. and Ackers-Johnson, J., 2016. The impact of delays on maternal and
neonatal outcomes in Ugandan public health facilities: The role of absenteeism. Health
policy and planning, 31(9), pp.1152-1161.
Belfield, C., Cribb, J., Hood, A. and Joyce, R., 2014. Living standards, poverty and
inequality in the UK: 2014 (No. R96). IFS Reports, Institute for Fiscal Studies.
Perrons, R.K., 2014. How innovation and R&D happen in the upstream oil & gas industry:
Insights from a global survey. Journal of Petroleum Science and Engineering, 124, pp.301-
312.
Zopiatis, A., Constanti, P. and Theocharous, A.L., 2014. Job involvement, commitment,
satisfaction and turnover: Evidence from hotel employees in Cyprus. Tourism Management,
41, pp.129-140.