Overview of Woolworths Company
Organization is associated with various set of activities which are undertaken to achieve the set objectives and goals. With the use of the data resources management, company could easily use this advance technology to make the effective strategic decisions. The main purpose of the data resources management is to implement the effective decision on the basis of the collected information. There are other opinions if the company don’t want data resource management then they can work on the small component of data base administrator which will assist management of company to strengthen the decision making process. Data resource management is that function of the organization that deals with the information system that are there in the company and the control data resource that the company has related to the entire department.
It is the international supermarket business which has been indulged in offering all type of foods and services in Australian retail market. The Australian supermarket accounting is for the 80% of the Australian market. It has been grabbing at least 12% since last one year. Company has increased to AUD $ 4.5 billion which is 12% higher since last three years. This company has increased its overall outcomes by investing in diversifying market. However, with the increasing complexity of the business, company has used Data resource management in its business decision process. It will not only strengthen the overall outcomes but also helps in increasing the business efficiency throughout the time.
The research approach which will be followed in this report research is based on the gathered data. It is analyzed that all the secondary sources would be used to collect the require data. All the data would be collected by using the journals, articles, books and official gazettes. It would reflect how well company could strengthen its business decision process by using the effective data resources management. The qualitative and quantitative data would be gathered to identify the problems and issues which have been faced by the Woolworth Company in implementing the effective strategies and decisions. The annual report of company will be used to analysis the possible issues and challenges which might be faced by company in the implementation of the data resources management system. This research will assist in analyzing the process of the data resource management which will be used to gather the required data in the process. The research approach focuses on the using the annual report and other documents which could be used to measure the internal and external factors of the busienss.
Research Approach
There are several problems and issues which might be faced by the organization while implementing the data resources management. With the increasing complexity of the business, data resource management in the business decision play pivotal role in business success of organization. As per the views of Schoenherr, & Speier?Pero, (2015) it is divulged that from the time when the company starts the business need all the type of data that are necessary for them to go further in their business. In Woolworths company, all the transaction that are done are store automatically in the database, and the need data is been created. The main issue from which the organization suffer is the managing of the data as it is the critical resource of the organization to manage the data and to support of the business activity. This issue has emerged due to the lack of business effectiveness and the failure of the business process to respond towards the undertaken strategic plans. With the failure of its business decision and sluggish market condition, Woolworths finds out the data that are needed to support the business activity and then focus on the appropriate techniques that can be used to build and maintain the high quality data resource that provide the support to the business for their growth. The data that is been collected is been stored or been kept safe by the database management system of Woolworths which will strengthen the overall decision making process of organization.
As stated by Hazen, Boone, Ezell, & Jones-Farmer, (2014) it is divulged that data resource quality is also the one of the important part of the data resource management. As data resource quality is used by the organization to measure how well the organization is working to support all the current and the future business information that is demanded by the organization. The organization has to focus on both the current and the future data information as company cannot ignore one thing and focus on the other. They have to support both the current and the future business database. As the business environment is so dynamic and changing from time to time so it is important for the company to set its data bases in such a way that they can cope up with the changing environment.
As per the views of Knüppe, & Knieper, (2016) it is revealed that the company work for their expansion and development for the expansion of the business and application system the data resource that is used by the Woolworths Company should be constantly enriches and expanded every day. There was one model that is traditional data resource management model which was not as good as company need for their business, because it was unable to meet the requirement that is need from the system like flexibility, and expansion in data management. This is the reason for the increase in the cost and low efficiency by the use of the traditional management system.
Problems and Issues in Implementing Data Resource Management
As per the views to Gutberlet, (2016) it is revealed that data resource management helps the organization to take strategic perspective regarding the plans that reduces the duplication of work leads to the better growth of an organization. It ensures that the plans include mission and vision of data. With the clear point of view, this determines that the data is secured and appropriate for the organization. The Woolworths must ensure that the established data resource management is appropriately working or not. If some loose pools detect in the current system they must be filled up in time by making corrective plans to cure that loop poles.
As stated by Sofyan, Rahman, Bima, & Nujum, (2016) it is revealed that from the following above steps, the organization must ensure that if from the beginning the work is not done properly it may affect all the data that leads to the non-survival of the business. So the management needs to work hard on this as now a days technology changes very rapidly that needs the work effective with high quality data resource management that helps the organization to make records in a systematic manner. The training must be provided to the persons related to this field for continue working in changing environment and technology. That will help the organization to adopt the rapid changes easily and effectively. The data must keep securely if it is not so then in future the organization is facing so many problems.
As stated by Mir, Cantor, & Hofer, (2018) it is depicted that once the company understands how to use the data resource management then the company can plan their strategy how to maintain the data and reduce the repetition of data and the system. Some of the step that the organization should take so that they can build up the system for the working of data base management in the organization that is. As per the views of Samson, Daft, & Donnet, (2017) it is revealed that the Woolworths should make a plan in such a way that it includes the vision and the mission statement in their plan. As once the goals of the organization is been fixed, then the business will make sure that the data that they are collecting is relevant for their project in which they are dealing.
As stated by Linnenluecke, et al (2017) it is revealed that the data resource management refers to the management of interpretation of data in a manner in information system of an organization. It deals with the working of organization by using information system to arrange the plans, procedures of all types of data. The data that is collected and stored are secure in the database system. It is the interpretation and implementation of the data of all departments in a systematic manner in a database. It is used to interpret ate the data in models that leads to the better understanding of the data so that it can be distribute among different departments easily. The data resource management organizes the data in such a way that an organization required to transfer the information to their shareholders. It is deals with the standard and similarity of data. The main issue of an organization is how to maintain the data. The data resource management helps an organization to maintain the data securely and effectively. All the transactions are automatically stored in the database when the company needed all types of data.
Importance of Data Resource Quality
As per the views of Singhry, (2015) it is stated that all the data is recorded according to the transaction made as company needs to maintain each and every transaction in a systematic manner. As these data is used to determine the position of the company and helps the management to take corrective decisions regarding the growth of the organization. It must be organized in the same potential and decorum in the same way others are maintained.
As per the views of Kumaresan, & Liberona, (2018) it is revealed that the Woolworths should review all the work that are related to the data base resource management of the projects, as the technology are changing day to day and the requirement of the business is also changing every day as business environment is dynamic in nature so it is necessary to continue review the current method of the data resource management.
As stated by Martini, & Bosch, (2016), it is revealed that data resource management helps the organization to record data in system software so that the data must be real and the chances of duplication of data reduced. If the data needs to be high quality with the potential it needs to be managed by a specialized person. The person who is operating the data resource management must be trustworthy so that the misrepresentation or the chances of frauds reduced. If the person is wrong then it must be harmful for the organization in both monetary and revenue.
The Woolworths must know what type of information technology is used for the data recording. The technology must be of high quality and that much potential so that it may support according to the needs of a data management. It not only shows how well the organization is working but also focused on the current situation and future happening. The management of Woolworths must focus on both the aspects. The quality of data resource reflects how efficient the data resource management of a company supports. The business environment may changes with time so it is mandatory for the organization to establish the database system in such a manner that will help with the changing environment.
As stated by Methner, Hamann, & Nilsson, (2015), it is revealed that the data resource management helps the organization to deals with the transactions in a specified manner in which the changes may be applied accordingly with the change in the nature of the data.
Benefits of Enriching and Expanding the Data Resource
The data resources management system is imperative tool which will help company to strengthen the overall outcomes and efficiency in its business. If the organization knows how to work with data resource management, the organization needs to make strategy so that the interpretation of the data and duplication of work reduces. Following some steps is to be determined. Data resource management uses information systems and computer software to record all types of data in a well-defined manner by framing different data models that are easy to understand and transfer to all departments of organization. It helps to interpretive the data in understandable modals that can be share with the shareholders for providing them information regarding the organization. If Woolworths wants to sustain its business then it will have to make its employees adaptable towards the data resources management. Woolworths has to make its business policies and organizational culture to make the business more effective. Organization works for their growth and development and data resource management helps it to do so as the company continuously extent (Matos, Schleiss, & Wehrli, 2015). There are old model that cannot appropriate according to the requirement to the company are not ready to use as they are not appropriate, so the data resource management models needs to be flexible. This is the only reason why the traditional system is of high cost and less effective with low efficiency.
- Technology is changing rapidly with the time so with the changes in technology the system must be updated accordingly for the smooth flow of the organization. The organization must focus on the strategic plan and implement on it so that the organization must focus on their goals and the work is done according to plans. The Woolworths company should find out the best who is skilled in managing the data that is been prepared, as it is a very difficult task and if it goes in the wrong and then whole functioning of the business will be disturbed.
- Woolworths should also check and research that the current system that is working for the data resource management is in place or not, and what is working and what is not working.
- If the organization find out that there is something that is leaking in the current system or the system is not in place then it’s a high time for the business to come with the new plan to fill all the holes- this can be done through purchasing of the new software for the company or by constructing the more streamline plan that is related to data resource management.
- Woolworths should now focus on the plan and then implement this plan in their business the step of implementation should be taken correctly so that the plan can be work smoothly.
By the following step that are seen above, we can begin to see one thing that if the data gathered are not good then the gathered data converted into information will not provide the imperative information to the decision making of Organizaiton The data base resource management is based on the data that is collected and if it is not fit and strong then the business will face many problem in the future. So if Woolworths wants to organize the work when it comes to data, the team will work more productively in the data resource management. As the time is passing and the online transaction and online shopping is increasing the work related to data base is increasing as all the details are store in the form of data so if this data is not kept safely then the future business will suffer a lot in the coming time. The training should also be provided to the people involved in this field as there are continue changes in the working of data, and if employees are not familiar with the changes then it is also the issue for the organization.
Strategic Perspective
It is mandatory to differentiate the correct data and false data among all the data recorded as it is very easy to detect the errors in the data by other party as it is a site work. So organization must focus that the data is entered correctly and the chances of errors reduced. So the data resource management must need to be managed well. Training must be provided so that the data resource management must operate effectively. The main effective discussion point in this case would be analyzing the internal and external factors which might indirectly and directly affect the implementation of the data resources management system in Organizaiton. Woolworths Company would have faced the issue of the feasible costing while installing the data resource system in organization (Gokhale, 2015). It will not only help in arranging the financial sources for the business but also strengthen the overall outcomes in effective manner. It is analyzed Woolworth’s needs to make the changes in its business policies and adopt the proper training and development for its employees so that it could strengthen the employee’s adaptability towards the newly sophisticated work process. The further research should be made on the big data analysis, strategic analysis tool and online cyber computing enterprises resources planning in the business. It is further observed that another research should also be made on the research methodology and data analysis tool. It will help Woolworths to determine the possible changes which would happen after implementation of the data resources management in business. In addition to this, management of the Company also need to analysis the negative and positive impact, resources required and implemented strategic plans which needs to be undertaken by company for the data resources management.
References
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