DISCUSSION TECHNIQUES AND TOOLS FOR MANAGING THE DATA 4

DiscussionTechniques and Tools for Managing the Data

DiscussionTechniques and Tools for Managing the Data

Consequencesof Lack Investigation in Costs of Data

Investigationof the costsof the data is important because ifnot done,company can end up having a poor quality data (Chen and Zang, 2014).The information of poor quality can resultinan array of drastic consequences in any given corporate. Tobegin with,data of poor quality if not determined and corrected early maylead toprofound adverseeffects on the economy and social aspects of the organization. Onthese aspects poor quality data will lead to heightened runningcosts, poor performance, reduced client’s satisfaction, ineffectivedecision making as well as decreased employee’s job satisfaction(Chen and Zang, 2014). The other negative impact of the poor qualitydata is increased operational cost as most of the time and resourcesareusedin detecting and correcting errors. Poor quality data also impliesdifficulties in establishing trust in organization records which mayreflect the lack of user’s approval of any programs based on suchpoorstatistics (Chen and Zang, 2014).

Lackof investigation of the cost associated with data can lead to poordecision making because leaders of companies will make their decisionbased on the information at hand (Chen and Zang, 2014). If the datais of poor quality,then the decision also is poor.

Techniquesand Tools for Managing the Data

Oneof the toolsused in data management is the techniqueof dashboards whereby displaysprogrammedin computers help to monitor information found in the databaseand show any updates and changes on the screen (Chen and Zang, 2014).These changes and updates are typicallypresented in the formof charts and tables,therefore,allowing the user to view how business is doing. The other tool usedis text mining, which getits name from its ability to obtain data from Acrobat PDF and MS Worddocuments to simple text files (Chen and Zang, 2014). The function ofthese tools is to scan and convert selected information into a formatcompatible with database tool. They are effective as they enable ourorganization to apply the developed algorithms and approaches toviewingthe present as well as the historical data that can be evaluated toforecast future trends.

BestTool

MSExcel is the best as it can be sent viaemailsit easy to share and viewed by most people (Chen and Zang, 2014). Theother benefit is that Excel can organize large amounts of data inorganized spreadsheets making it easy to interpret the data.

ToolUsed in Personal Decision Making

Oneof the examplesof tools that can be ofpersonal decision making is Decision Support Systems (DSS) which arecustomized software’s intended to help managers in their decisionmaking process (Chen and Zang, 2014). They frequentlypresent the information in aconducivemanner that helps in making efficient and informed decisions. DSS hasthree main components, a database, a model data and a user interfacewhich help in structured, unstructured and semi-structureddecision making.

References

Chen,C. P., &amp Zhang, C. Y. (2014). Data-intensive applications,Challenges,Techniques and Technologies: A Survey on Big Data. InformationSciences,275,314-347.