Flow Chart
1.Prepare a Document Flowchart using a system tool, to document the acquisition to Payment System that currently exists at Emporium Trading Company.
2.Explains the Role of Data Analysis Tools and Data Mining in Contemporary Organisations.
3.Identifies and Explains the Ethical Implications around gathering, storing and using Customer Information.
1.Flow Chart
The data analysis tool is mainly identified as one of the significant functions, which allow organisation to develop their status. The data analysis tool is mainly used with the help of data software, which allows organisation to understand trends and patterns. With the help of data analysis organisations are able to gauge into the customer trend, industrial patterns and organisational behaviour, which allows them to achieve more in future. Rustici et al., (2013) mainly said that data analysis technique is similar to data mining, which help organisation to improve the current operational ability and increase their profitability.
Furthermore, data analysis is mainly considered a vital information setup, which allows corporate employees to take relevant actions for increasing certain performance indicators. Data analysis or data mining are mainly helpful for analyst and employees to address their queries, which might arise during operations. In this context, Mi et al., (2015) stated that data mining and data analysis tool accommodates set of data, which help organisations to identify relationship between patterns.
With the help of data analysis applications companies are able to conduct more than just to evaluate the data. In some instances, companies are mainly able to use the data analysis to evaluate the future performance of a project. Moreover, the data analysis not only allows the organisation to evaluate but also revaluate the project until and unless a positive result is derived. Furthermore, the analyst team does not only evaluate the data but data engineers are used for preparing and evaluation of data. In addition, many organisations use the data analysis to help understand trends of their customers, which allow them to reduce unethical activities in their vicinity. Companies related to financial activities and banks mainly use the data analysis system to identify the withdrawals expenditure trends of their customers. This identification of trends mainly allows them to detect any fraudulent activities and improve customer safety. Furthermore, data mining process is an effective tool for E-Commerce and marketing companies, as it helps in analysing and identifying potential customers, which are interested in buying their services or products. The use of data analysis allows online companies to identify various changes in customer trend, which could help in improving their overall revenue from operations. Gelman, Carlin, Stern & Rubin (2014) stated that Facebook uses data mining process to understand the change in customer preference, which allows them to update the application to satisfy customer needs. On the other hand, Bazeley & Jackson (2013) argued that company such as Nokia was not able to grasp the changing trends in mobile industry, which led to its demise as market leader.
Explaining the role of data analysis tools and data mining in contemporary organisations
There are relevant process, which is initiated in data analysis, firstly data is collected and segregated according to the specified needs of the application. Furthermore, the data collected is needed to be assembled according to the tools, which are used in data analysis. Moreover, this data analysis mainly mixes all the relevant details and uses data integration, which could be downloaded from the system by analyst. Cole et al., (2014) stated that the data analysis allows the option for data subsets, which could be pulled out by relevant tools for analytical purposes without hampering the actual data.
Data analysis allows organisation to develop multiple data source, which could help in improving reliable quality of information. This improvement has mainly allowed organisation to support their future endeavours and improve its ability to satisfy customers. Wickham (2016) stated that use of data mining process allows organisation to discover and identify relevant factors, which influence decisions of the customer. This identification of factors mainly allows organisation to add value to the business. IT companies daily uses the data mining process to construct and plan their services, which could help in improving their profitability. IT service companies to help companies to remain up to date and support their future endeavours.
Storage, collection and protection of customers data is one of the essential activities of an organisation it allows them to maintain secrecy and nullify any unethical use of data. There are some ethical issues, which is faced by companies in storing customer data for the future reference. Companies mainly use the customer information to improve their sources and incorporate more customers. There are certain ethical responsibilities, which a company should maintain to reduce the violation of customer information. Companies are forced not to use customer information for unethical purposes, which might violate customer security. Furthermore, the companies are also restricted to sell customer information for their personal benefit to vendors who could use that information and hamper information security. Veruggio, Operto & Bekey (2016) mainly mentioned that if company violates the privacy law then punishments could be forced on the organisation, which might hamper their reputation.
There are certain ethical processes, which must be followed by organisation while storing and using the information collected from customers. Any violation in the ethical processes hampers reputation of the organisation and demise customer base. There are certain rules, which must be followed by companies before collecting data from their customers. For instance, companies are mainly allowed to collect data related to purchasing behaviour reason for purchasing and period for purchasing. Any other information like personal bank details private information is not collected by organisations, as it does not help in supporting activities of a company. On the other hand, Ormondroyd et al., (2014) argued that use of information within different segments of the organisation is viable and could help organisation make adequate investment decisions.
Identifying and explains the ethical implications around gathering, storing and using customer information
The second ethical implications, which needs to be maintained by the company is the level of accuracy while collecting relevant information from its customers. Companies must use adequate information collection system, which might help introducing the misinformation recorded in the data (Mitalipov & Wolf, 2014). This correct collection of information mainly allows organisation to take a good decisions, which might help in improving their customer service and profitability.
The third ethical implications, which needs to be maintained by organisation is the easement of information access for analyst and engineers. The company daily needs to ensure that other employees effectively access this information’s, which could help in improving the impact of the information. However, Powell (2015) argued that due to hacking problems companies database are no longer secure, which code instigate fear among customers and motivate them to provide wrong information.
Furthermore, the easement of information access should also come with some restrictions, which might help in reducing the unethical usage or theft of customer information. Moreover, the details should be stored in such form, which could effectively be utilised whenever necessary. Furthermore, the information related to customers must be kept in secure location and in central database as any loss in information might hamper company’s ability to gauge into the customer trend. In addition, storage, gathering and using information should be conducted in an ethical manner, which might portray a secured feeling to the customers. Kaplan (2014) mainly stated that use of adequate CSR activities could help motivate employees to use ethical ways in utilising customer information. Thus, companies mainly need to take an adequate step, which ensures that customers provide extensive and necessary information that would help in improving their decision-making capacity. This improvement in the decision-making capacity could only help in generating higher profits for the company.
Reference:
Bazeley, P., & Jackson, K. (Eds.). (2013). Qualitative data analysis with NVivo. Sage Publications Limited.
Cole, J. R., Wang, Q., Fish, J. A., Chai, B., McGarrell, D. M., Sun, Y., … & Tiedje, J. M. (2014). Ribosomal Database Project: data and tools for high throughput rRNA analysis. Nucleic acids research, 42(D1), D633-D642.
Gelman, A., Carlin, J. B., Stern, H. S., & Rubin, D. B. (2014). Bayesian data analysis (Vol. 2). Boca Raton, FL, USA: Chapman & Hall/CRC.
Kaplan, D. M. (2014). Ethical implications of a critical legal case for the counseling profession: Ward v. Wilbanks. Journal of Counseling & Development, 92(2), 142-146.
Mi, H., Poudel, S., Muruganujan, A., Casagrande, J. T., & Thomas, P. D. (2015). PANTHER version 10: expanded protein families and functions, and analysis tools. Nucleic acids research, gkv1194.
Mitalipov, S., & Wolf, D. P. (2014). Clinical and ethical implications of mitochondrial gene transfer. Trends in Endocrinology & Metabolism, 25(1), 5-7.
Ormondroyd, E., Oates, S., Parker, M., Blair, E., & Watkins, H. (2014). Pre-symptomatic genetic testing for inherited cardiac conditions: a qualitative exploration of psychosocial and ethical implications. European Journal of Human Genetics, 22(1), 88-93.
Powell, G. H. (2015). Coming together: The ethical implications of the one flesh union. Southeastern Baptist Theological Seminary.
Rustici, G., Kolesnikov, N., Brandizi, M., Burdett, T., Dylag, M., Emam, I., … & Kurbatova, N. (2013). ArrayExpress update—trends in database growth and links to data analysis tools. Nucleic acids research, 41(D1), D987-D990.
Tassé, A. M., Bledsoe, M. J., Giepmans, L., & Rahimzadeh, V. (2016). Legal and Ethical Implications of Data Sharing in International Biobanking Research: Toward a Global Response.
Veruggio, G., Operto, F., & Bekey, G. (2016). Roboethics: Social and Ethical Implications. In Springer handbook of robotics (pp. 2135-2160). Springer International Publishing.
Wickham, H. (2016). ggplot2: elegant graphics for data analysis. Springer.
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