MIS 2101.702 – Amy Lavin – Fall 2017

Weekly Question #4

Leave your response as a comment on this post by the beginning of class on September 28, 2017. Your response only needs to be about three or four sentences. These weekly questions should reinforce class discussions, readings and show some insight.  

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This week, we reviewed ERPs and Data Analytics.  In any organization, it is crucial to collect good data and have an integrated system that enables users to have one clear view of the data and customer.    Thinking about your major and your future careers in business – why is this important?  How could good data or bad data have an impact on your daily job?  

41 Responses to Weekly Question #4

  • Majoring to become an accountant, everything relies on good data. Having bad data in accounting would cause your work to be wrong, meaning everything you did or going to do is going to be wrong. Since we also use excel or other programs on the computer, plugging in the wrong data and continue your work would cause you to be doing work for no reason. Although good data would have everything run smoothly and hopefully you’d the job done easily. So accounting only relies on good data!

  • After experiencing a ‘Murphy’s Law’ situation with an ERP implementation in my last accounting position I would say that good data is EVERYTHING!

    What went wrong was that, (1) it was purchased from a friend of a partner, it wasn’t the right fit. (2) Executive team was on board with entire project costing $30,000, it ended up costing $383,000+ for 6 licenses and we were going to add an additional 56 licenses. The company was also paying annual license fees aside from the upfront costs. (3) No user buy-in (4) Inexperienced system administrator with very limited hours for assistance. (5) Appointed project leader was inexperienced in all aspects of an ERP implementation. (6) Advice from the vendor administrator and an outside consultant was used instead of talking with departments to learn how information was entered and used within the old system. (7) Other than the test accounts we did not receive much training, it was sink or swim when we went live. (8) 2 weeks before the go-live date team members were given a 4 hours notice that they must begin scheduling training sessions for all sales, consulting, executive departments beginning the next day to get everyone familiar with the system. (9) Customizing the system resulted in the go-live date being pushed back 3 times. (10) After the vendor promised that the data migration would be perfect, nothing in the system matched. Even client names had missing or incorrect information. Every financial report contained bad data, the balance sheet, P&L, cashflow statement, A/R & A/P reports were inaccurate. (11) They did not test the system.

    Accounting went live a year before the entire company was using the system and 75-85% of the information was transposed or missing from the poor data migration. As a department of two, we had to audit all records going back 5 years to correct the information within the new system for the US, Europe, and Asia regions. This took us approximately 3 months since we had to simultaneously update two systems with any new information to keep our department and the company , while switching from an accrual basis to a cash basis and had to conduct a second audit to find the $200,000 shortage. This was just our department. The impact was less substantial for other departments but still very apparent.

    To reiterate, good data is very important. Without good data companies have unexplained discrepancies, inaccurate financial documents, missing customer information, inefficiencies, have insufficient or incorrect information to analyze, costly fixes, time consuming entries/research to correct/locate information, waste of resources, negative customer/client impact.

  • With my major being legal studies, I plan on one day pursuing a career in the law. The most imperative thing that must be had to be successful as a lawyer is the ability to gather and disseminate large pieces of information. If there is any information that is missing, incorrect, misconstrued, a lawyer’s entire argument can instantly become invalid. That being said – although this isn’t a direct connection to ERP’s – being able to organize and categorize information correctly is an absolute must for a lawyer, that way he/she can develop and articulate a substantive and thoughtful argument in the courtroom.

  • With my major being Accounting, the data retrieved and put out is crucial. It needs to be correct at all times because one little mistake and it will mess everything up. Having these ERP systems and Data Analytics allows the processes that go with Accounting or through Accounting to be much easier and faster. Since ERP systems can make the other processes that go along with Accounting more efficient, it allows the Accounting aspect to be heavily focused on and done correctly.

  • Real Estate being my major, it is very crucial to have one clear view of the data and customer. This actually can be huge because it can benefit every party. It also can make the parties way more comfortable and actually want to get a sale done rather than being worried about problems or unidentified stuff. All the data will be in front of the client.

  • I plan to pursue a job in the legal field so the quality of data will have a great impact on my daily job. It is crucial that attorneys have good data, an attorney needs to have the good data to make a solid argument. If an attorney lacks good data, or has bad data, these facts will have a negative outcome on the case. The attorney may even lose his or her case because of this bad data.

  • I currently work in commercial real estate and we are always looking for ways to obtain new business and increase our sales. Technology, such as CRM and Salesforce, play a key role in building our business intelligence and capturing and maintaining our client relationships. In order for me to work efficiently and find connections with our clients and brokers or solutions to our clients needs, the data we have must be correct. False data or even incomplete data could cause us to make a bad decision that can cost us the business and/or trust we have built with our clientele.

  • I am majoring in finance and data will play a huge part in my future job. I want to work in the financial planning field specifically with investments. Therefore I will be dealing with clients regularly and data could have something to do with customer satisfaction. Good data with this could show that we are doing a good job and to keep doing what we are doing. Bad data could show that we might need to rethink how we are handling our clients.

  • Being a finance major, data is huge! I will be dealing with the financial data of my clients and if i have bad data or mess up on something I can mess things up for my clients and possibly loose my job. Using good data, I can properly do my job and successfully give my client what they want and the better the data, the better the outcome is for what ever I am doing.

  • I am majoring in Business Management. Data analytics and ERP’s are very crucial because managers deal with high volumes of data on a day to day basis. Manager must understand data in order to make the right decisions for their team. It is important to have quality data because bad data can impact the business in a negative way.

  • I would say data is a part of every job, especially most of them in business. I am currently undeclared, but I am leaning towards doing finance, where data would be vital to the job on a daily basis. If I was a financial consultant, I would need good data on their financial situation. If I was to have bad information, it could have a negative affect on my client. If I am trying to help a client with future investments, I would need good data that helps me guide them what to invest in. Bad data would hurt everyone involved in the situation, so I will always have to try my best to analyze information, and to provide good data to my clients.

  • Being able to collect and integrate data effectively is one of the most important abilities of a business or business professional. Although I am currently undecided, I know that good data is essential in almost every career. For example, accountants need to be able to have good data in order to make financial statements and correctly record the purchases, acquisitions, and taxes of a person or company. Accounts must also be able to integrate their data into a system so that other facets of the business can make decisions based upon this, which including making invoices available to all systems. Another example would be the use of good data for marketing professionals. Marketing professionals rely on good data to make informed decisions about future endeavors with their company. ERPs would help marketers to relay their discovered data to financial professionals within the company, so the professionals can make informed decisions on whether to use more money for marketing or not.

  • I am currently a double major in MIS and Accounting. I believe that the use of ERPs will be the main focus of my job. I wish to pursue a career that deals with integrating what accountants need and to create systems for them, and provide technical support too. To do so, i will need to have a great understanding about how all of the business units connect to one another. For example, I would need to know how sales is connecting to the ERP and then how that feeds to the accounting department encase of any issues that may happen along the way. It will be important for me to meet and consult with the ERP company that the business that I am working for is associated with so that we can all be on the same page, and make changes to issues that are not working properly

    • Excellent, Eric – Accounting benefits immensely from a good ERP, and Accounting Information systems are crucial to success. Understanding the blend of tech and business will take you far!

  • In mortgages, good data and bad data are the difference of closing a mortgage or not closing a mortgage. It is very important to have a system where all aspects of the clients ‘mortgage portfolio’ are synched together and easily accessible. If a social security number is wrong, bad data, we could be running a mortgage for a completely different person. If they have a forged credit score we are jeopardizing the clients ability to pay back the loan as well as credibility on our name.

  • I am an International Business major and in the future I would like to own my business/stores and having a bad collection of data could delay work progress. If employee or prospective employee information such as tax information is not properly collected, it could cause many problems for everyone. The wrong information/data could prevent people from being hired or just ruin credibility.

  • This week, we reviewed ERPs and Data Analytics. In any organization, it is crucial to collect good data and have an integrated system that enables users to have one clear view of the data and customer. Thinking about your major and your future careers in business – why is this important? How could good data or bad data have an impact on your daily job?

    Thinking about my major in marketing and my future career in commercial real estate I know that is it is very important to collect good data and have an integrated system that enables customer to have one clear view of the data. If I were to have bad data it would make me look bad for not checking that the data was correct. Also, it makes the customer not feel comfortable buying anything I was selling due to advertising fraudulent data. Also, in some cases it could get to the point where there could be a lawsuit involved due to advertising bad data. Lawsuits are the last thing I what to deal with when working for an organization. In addition, if I were to give bad data for a job interview and they figure out I presented them bad data than it could prevent me from getting hired.

  • Thinking about my major in marketing and my future career in commercial real estate I know that is it is very important to collect good data and have an integrated system that enables customer to have one clear view of the data. If I were to have bad data it would make me look bad for not checking that the data was correct. Also, it makes the customer not feel comfortable buying anything I was selling due to advertising fraudulent data. Also, in some cases it could get to the point where there could be a lawsuit involved due to advertising bad data. Lawsuits are the last thing I what to deal with when working for an organization. In addition, if I were to give bad data for a job interview and they figure out I presented them bad data than it could prevent me from getting hired.

  • I work in marketing and sales for a business services company in Baltimore and I see daily the good and the bad of ERP’s, analytics, and CRM. With good data I can not only target marketing toward the areas which show more promise, but also predict future preformance through key indicators observed in the past. On the other hand, as discussed in class, these systems can be costly and time consuming. I would say that the effectiveness is totally dependent on the size of the business. Since our clients are typically small law firms or local businesses we often have business owners asking for help entering data into their CRM systems as they have no time to do it on their own. Many business owners aren’t using the information correctly and are waisting time looking at the wrong data. No matter how many systems/analytics reports/ERP/CRM you have it is meaningless without some human insight to assist in interpretation.

  • Having correct data is the most important thing for an Accounting/Finance major, since a decision concerning the fate of an organization depends greatly on how good or up to date the data is. Without ERP’s and Data Analytics systems, all financial decisions and plans would be skewed due to obsolete, hence useless data. Not just that it is of no use, it will also be dangerous if a a major decision turns out giving the organization more harm than help all because of incorrect data input. In the worst case, bad data can even lead to the closure of a business, lawsuits and personal damages to people who implement fatal decisions using skewed data.

  • My major is Marketing, and I am hoping to go into Digital Marketing. Within Digital Marketing is social media management. ERP’s and Data Analytics are crucial for this niche of marketing. For example, Google Analytics to track data from website tracking, views per click, etc. ERP’s can help with tracking all of the data in an organized way.

  • Being a Business Management major and having managed a retail store I already understand the importance of good data. At my last job there was a disconnect between our different entities and we all used different systems to collect and store data. This caused us to run into a lot of issues with payroll and inventory. Having an integrated system and applying ERPs is critical in my belief for running a successful business in this day and age. Moving forward with my major it will be important to understand the role of good data and being able to disseminate that data effectively and uniformly throughout a company.

  • I am a business management major and collecting accurate data is vital for a business to be able to grow and succeed. Without a proper system to report information, a business may be inclined to make poor decisions. For example, if a report shows inventory zero, but that data hasn’t gotten updated. manufacturing may decide not order enough materials thinking there is sufficient stock. This would cause a shortage and may slow down profits in the following quarter.

  • In Marketing, good data is crucial when doing target research for your campaigns and advertising. Advertising is really expensive, so you want to have the most reliable data in order to make informed decisions. Good data is essential when figuring out target audiences, content, and so much more. Doing research off of bad data can hurt a company financially and inhibit growth.

  • I am a marketing major, so when doing advertising or market research, quality data is very important. You want to be sure that the data you are using in your marketing campaign because if you go along with advertising methods with unreliable data, you will be either failing to reach your goals or losing the company a lot of money. Accurate and quality data will make my future fields job much easier, and give you better results

  • I am an accounting major. I can picture a reliable ERP system being an important aspect of facilitating the accounting process. With reliable technology, it will be much easier for the accountant to be able to see where the funds of a company are going. Instead of having to keep track of so much information from various different people, the accountant would have an easier job with an ERP system that centralizes all of the information that he or she might need. As far as data analytics go, these can be important for accountants to make predictions about things such as which customers are likely to pay back debts on time and which are not.

  • As a business owner, I would want all of the data interlaced seamlessly in order to make my business run more efficiently. ERP’s will make it easy to look up any data that you need (and also linked to the other related data). This is most important to make reliable, fast, and knowledgeable customer service interactions. Also, for training purposes, it would be easier for a new employee to learn about the system. From a financial perspective, ERP’s and data analysis would also ensure the money exchange is faster to make quicker company commerce.

  • Collecting accurate data is important for anyone in any discipline of the business world. As a marketing major in particular, the value of organized and accurate data can’t be underestimated. Data is very important in the realm of marketing research, for instance, since this research is so expensive, you want to make sure that your data is accurate each and every time. ERPs are beneficial as well, as it keeps data organized and easy to access at a moment’s notice.

  • I am currently undecided as far as my major, but I know that in any principle in the business umbrella, critical thinking and effective decision making is important. I also know that you are only as good as your information. The more accurate and organized the information is in a company, the better access its people have, the better their decisions are. Whether its capturing financials or the demographics of your target audience, an organized system is crucial.

  • I am a marketing major. It is obviously extremely important to have accurate data, regardless of the profession you are in. Having inaccurate data could lead to extremely costly mistakes. When gathering information we want to be as accurate as possible so to not waste our time and resources. For marketing, we would want to know specifics, for example, such as which pages are getting the most click-through rates. If we were led to believe that another page was getting more clicks, then we may spend unwarranted time on that page that should’ve been spent elsewhere. Clearly this is just a hypothetical example, however mistakes like this are probably not too uncommon if not kept in check.

  • I am a marketing major. I have written this post previously, but it is not showing up. If it shows up twice on your pages, I apologize. I mentioned how it is extremely important to collect accurate data, regardless of the profession you are in. I mentioned how a person who works in marketing and possibly runs a site would want accurate data as it pertains to things like click-through rates. I said it is important to know this information so as to not waste time, energy, resources, and money in the wrong areas of the site. We spoke about this in one of our classes before, but we would want to know which pages people were visiting and leaving on the most so we could know what needed improvement. Obviously, with inaccurate data in this example, big mistakes could be made.

  • Being an MIS major, I have learned how important it is to have accurate data. This is important because in many of the job positions available in the work world, regardless what you do, requires data. Through data is how companies excel in their businesses. Whatever they are aiming to acquire, if they didn’t have accurate data, it wouldn’t be possible. If the data was bad data, then their aim/goal would most likely plummet. It would cause the wasting of time, effort, and resources put into the job/activity/project.

  • Accurate and organized data is an essential in any business. Without organized data, the firm will not be able to accurately forecast anything in the future and they will not be able to fix anything that has gone wrong in the past. As a Business Management major, I feel that data collecting in the proper manner is an absolute must! I have interned at various companies and have experience good and bad data collection first hand. The properly organized data made me more effective at my job all around.

  • Being a finance major, it is important to collect accurate data and organize it correctly all the time so that we could present a good view of it. For instance, we need to take a lot of time to collect accurate data ,and after that, we need to make a financial statement carefully to make sure it gonna be right all the time. But sometimes it is hard to control since a tiny mistake will lead to a horrible result of whole data and we may don not even know which part of data has problem so it is really hard to find the problem and adjust it by manual operation as well. In other words, we need always keep the data accurate and organized or we will in trouble.

  • My job revolves around data and several different information systems to help us stay organized and accurately delegate tasks down to our employees. If our data is inaccurate in even the slightest bit, our whole system would malfunction. Customers may not receive orders if numbers in our supply system are off. If the expected work load data is misentered, we may be understaffed or overstaffed causing us to lose revenue. It is crucial that our systems stay efficient so that the data is easily interpreted and put into action as accurately as possible.

  • Data plays a role in many jobs today to be able to forecast many different things. Organized data makes things easier for some people to comprehend as well keep track of important info. If inaccurate data is given then it can create a bigger problem for many people.

  • Working in a nursing home, the employees in the facility all need good data in order to properly care for a resident. Good data is vital when it comes to healthcare. With medicine, vaccines, insulin, and more, the information being deliver from the prior caregiver must be accurate or many serious issues can arise.

  • Without organized data many companies would suffer from the chaos. It is important that data is entered correctly as it could create problems for others in the workplace. If data is bad it can create more is for others in the work place.

  • I am a business management major, and plan to move into the field of project management. When working on a construction project, it is crucial that all the numbers and data recorded are accurate and make sense, otherwise a few small flaws could end up costing the contractor a lot of time and money. I have seen it before when businesses under-bid time and materials for a project and end up not even breaking even because of a few mistakes.

  • Good data is critical to making sound business decisions. In reference to our Max Labs, we saw what happened when Riley was updating pitches to include multiple meeting; status updates and adding new contact information. One pitch contain data from different meetings which presented bad data. Not only would this cause a lot of confusion, it potentially could cost Riley her position with an interested investor if she is not taken seriously and viewed as a true professional. I think this example is a good illustration as to why having a clear view of data is critical to building solid B2B and B2C relationships. In my current profession our clients rely on our services in emergency situations. If we did not have access to good data it could cost my organization way more then a lawsuit, broken relationship or our reputation- it could cost us someone’s life. Without having reliable real-time updates and accurate mobile tracking technology, we would not be able to compete in the medical services market or the trust of complete strangers to aid them in a time of need.

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