MIS 2101.702 – Carey O’Donnell – Spring 2018

Class Discussion: Post #2

Leave your response as a comment on this post by the beginning of our next class.  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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Here is the question:

Last 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?  

24 Responses to Class Discussion: Post #2

  • Having one clear set of data throughout all departments of an organization/company is important because it keeps everyone on the same track. As a finance major and future business professional, I find ERPs and Data Analytics to be extremely helpful, for example, if i am analyzing the revenue generated from a sales period then I want to be going off of the same information that the sales people gather and vice versa. If I were going off of something different, or bad data, we would not be getting accurate information.

  • I am a marketing major and good data is very important to my job. We need to see how the marketing that we are doing for business’ is helping their sales. If we do not have good numbers then we do not know where we need to make improvements or adjust our strategy. We could lead companies the wrong way and have a loss of sales if the marketing data that we acquire is not accurate.

  • In all businesses, all the departments depend on each other since the information derived from one department is being used by another one and later is being provided to the next department and so on. It’s very important to make sure that all the information and data is the same in all the departments. Being a finance major and constantly working with lots of data, I know how a little missing or an erroneous piece of information may drastically change the entire result for the organization and may have a vital affect not only on a business itself but also on all the stakeholders. The accurate data analysis may only come from the correct data stored, so the integrated ERP system plays a very important role for the organization and, in my onion, is a must to make a business successful.

  • In a business setting it is very important to have a uniform source of data given that there are many different sectors and departments in a business. If you are conducting reports to your boss, you want to make sure you collectively have accurate information. Everyone has to be on the same page and the data changes daily. It is also beneficial in the sense that one can find mistakes that were not picked up before. Your work revolves around data in the actuarial field. One small mistake can impact your predictions drastically. Although various departments may interact with clients in different ways, everyone should be using the same base of information to convey. As a business person you want to have a positive impact on clients, so one small thing such as using bad data can affect that negatively.

  • In this age, all business has to rely on the data and information system. As a Marketing major student, collecting data and having one clear view of the relationship between customers and data is very important. Data analysis can help us understand more about consumer behavior. With these data, we can develop the next strategic marketing plan more accurately. Also, when we make marketing report, we have to explain the facts based on the data set. A wrong data set can lead huge mistakes on conducting marketing plan.

  • In any business organization, it is important to collect, analyze, and implement good data across all departments to enhance employee efficiency and also to ensure that the proper decisions are being made. Data that is not up-to-date or collected inaccurately could potentially throw an entire company off course, ultimately resulting in a major financial loss. As a marketing major, it is easy to recognize how the collection of good data can enhance the strategies and plans that have already been set in place. Through the use of ERP systems and data analytics, marketers are given access to real-time information regarding consumer behavior and the effectiveness of their campaigns. They can then use this knowledge to their advantage and tailor current projects in a way that will generate more sales and produce higher revenue.

  • Having a data set with accurate and streamlined data through multiple departments is very crucial to efficiency. As a Finance major I realize that ERP’s, as well as data analytics are very influential to the work that is done in my field. Finance works very frequently with data sets such as sales periods and having a system that makes sure every departments is on the same page makes doing the jobs much easier.

  • It’s important to have the ability to access good and clear data as it’s vital to the success of the firm as a whole. If the correct numbers are not provided, the company will be unaware if they’re at a surplus of a specific product or currently experiencing a shortage of workers. To ensure the integrity of the company and that they continue to operate like a well-oiled machine, data has to be easy to read and good so my job would be easier.

  • As an accounting major I find that they are very useful. It is so important to have accurate data to stay on track and perform to the best ability. They help reduce risks and improve the financial compliance. On an everyday basis, dealing with customers can be difficult. ERD’s enhance customer service.

  • I am a Risk Management major and having accurate data is a huge part of it. The law of large numbers takes place during risk management. If data is accurate and running at its best ability then do are the decisions your organization will make. Data is the future of business decisions along
    With ERD’s and accurate information, we can price insurance with an accurate p*. This comes from the accuracy of data.

  • Being in the real estate industry and majoring in business management, ERPs and Data Analytics are vital. Statistics and information are a large part of what I do everyday and there needs to be a process to work efficiently. Good and bad data have a considerable impact on the decisions we make. This data can ultimately lead to a persons or company’s success.

  • Currently I work in the finance industry for Prudential Financial. My current role focuses on annuities. We see control groups running data analytics to help keep up with trends, find areas of opportunities (solve problems), and continue to focus on what we are doing well. The data then goes to each department to review and discuss as a team the outcome of the data and how we can apply it to our daily jobs within the team.

    For example, we work with transfer paperwork to transfer funds from one institution to another. We track our NIGO (not in good order) cases to see the most common NIGO reason. From analytics we found the top current NIGO reasons and worked on our forms to make them better to help prevent this in the future. It helped eliminate customer complaints, efficiency as a team, and an overall better experience for the customer.

  • Data is applicable to all majors and all workplaces as business thrive on information databases, whether that data be good or bad. With this data, once it is collected in a company, the need to analyze it for insights and then implement the proper actions after the analyzing is extremely important. I am an International Business major, and I hope to work on immigration problems with the EU. I think that data analytics and ERPs could be implemented in order to create efficiency with new regulations, numbers of migrates coming in and information like this. Because international business relies on global information and resources, ERPs become more important as one system creates a unified pattern.

  • I am a finance major and good data is very important to my job. Finance is working with money and if we have bad data, we could mess up many peoples finances, depending on what our job entails. This can be extremely messy. Good data is important to any business job and basically anything in the world.

  • Data is universal and applies to all majors and careers. As a finance major, understanding and translating data is a huge part of our field. Having accurate data throughout the entire organization is pivotal to efficient and successful practices. ERP’s and data analytics are very helpful and influential in the finance industry. ERP’s and data analytics reduce human error, automate calculations that used to be done by hand, as well as increase security. This is very important in all business fields.

  • As a Marketing major planning to pursue a career in Marketing I’ve learned that collecting data is very crucial in this line of work. Gathering good data allows you to get an idea of who is you are trying to sell to and what methods specifically should be used to reach them. Data and research is very important for Marketing majors. It could be the difference between a good marketing scheme and a bad one.

  • Thinking about my major and future career in business, collecting good data is very important especially when it comes to Marketing. Without proper data or analyzation of data, target markets can be hard to pin point and this is a very crucial step in the Marketing process. Bad data could lead a marketer clueless of where they should should promote and place the products where they need to.

  • As a Business Management major, It is important to me to have clear and accurate data because it provides efficiency. Being successful in a future career means eliminating any type of error as much as possible and having accurate data does that. Having a ERP system influences things a lot and impacts everybody who uses it. So, everything needs to be running smoothly.

  • Having good data is very important in the perspective of an HR employee. It is important to keep a ystem of updated data on all employees in an organization to ensure that you have correct information (name, address, social, income, benefits) in order to reduce problems in the workplace and ensure things run smoothly and can be solved easily if problems arise. Human resource personnel usually deal with all data and information regarding current, past, and potential future employees so it is important to have clear, accurate, and organized data regarding said employees.

  • I am about to begin a summer marketing internship where one of my goals will be to analyze data about our consumers’ interest in particular products and the way that they us them. It will be critical for me to make sure that I am reading data correctly and interpreting it’s meaning well. Unreliable or mismanaged data could give me poor analytics and cause me to infer trends incorrectly. Fortunately, I will be relying on company programs and databases which I expect will do the job well.

  • Bad data would mean that business decisions I made would not be accurate. Thus, a companies’ investments, or choices they made would be based on incorrect data and the bottom line would be negatively impacted. With good data, the choices that are made are informed choices. In marketing, bad data would mean that the marketing would not be effective. When it comes to any industry, good data helps one to make an informed strategic choice without it the company is basing all of their decisions on misinformation.

  • My major is Supply Chain, and my future job will be in that field. Therefore, ERPs and Data Analytics are very crucial to achieve success in Supply Chain. You need to know where your shipments are going and what their status is, and how much inventory you have and when you are low on it. Also, you must have a business model capable of using ERPs and Data Analytics to make as much revenue as possible with the lowest cost of goods sold.

  • First, it is critical to collect good data since good data enables me to make right decisions in business. Furthermore, I tend to make decisions quickly with an integrated system. ERPs and Data analytics will make me to make decisions effectively and efficiently in businesses.

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