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Homework answers / question archive / Think about the uses of data in your industry and explain the uses to your classmates
Think about the uses of data in your industry and explain the uses to your classmates. You have learned about creating charts, pivot tables and pivot charts. What ethical considerations might a company need to make before deciding to use data that has been provided by a third party? What errors would they want to look for? How do charts help managers analyze data to make decisions?
The industry that I am in requires a lot of data. I work at a credit union in the accounting department. My department uses data regarding deposits and how the credit union is doing financially. I know operations uses a lot more numbers regarding their stats. Where they stand in how many members we have, how many loans we've sold, and income we receive from investments.
Ethical considerations, a company would want to confirm it aligns with their ethics. A company would always want to make sure they are doing things the correct way. Using data from a third party is helpful to them. We also use data from a third party to do our reconciliations. We want to make sure we gather the correct data from them.
Charts help a manager decisions because they can see previous numbers as well as current and identify what are the factors to the data in the chart.
