Business Analysis and Dynamic Information Websites
What are Justin's responsibilities at his accounting firm?
Business analysis is difficult to achieve from operational databases for various reasons. Which of the following is not a reason why?
Responsibilities of Justin at the accounting firm:
Justin's responsibilities at his accounting firm are categorized as Information Levels and Information Formats. His work is integral to the company as he turns raw data into valuable information used for informed decision-making.
Reasons for difficulties in achieving business analysis from operational databases:
Inconsistent Data Definitions: Operational databases may have variable definitions and plans for the same data items across various areas or systems, making it challenging to conduct accurate and consistent analysis across the organization.
Explanation:
The detailed responsibilities of Justin at his accounting firm in Los Angeles fall under the category of Information Levels for the analysis he provides across the company, and under the category of Information Formats for his output of letters, memos, and financial and marketing reports.
Being able to interpret and utilize complex numerical data to make informed decisions, as Justin does, is an immensely valuable skill in today's business environment. This skill is especially necessary in industries driven by knowledge and information, including business and tech sectors where the economy is controlled by those who can effectively manage and distribute information.
Modern digital technology, likened as the 'steam engine' of information societies, transforms raw data into useful information crucial for decision-making processes. These decisions drive the business outcomes of Justin's company. Information and its intelligent use have become commodities in postindustrial economies, dictating success and competitive advantage.
Moreover, digital technology has significantly reduced the manual labor previously required in various industries, transitioning them towards being heavily information-driven. This shift demands professionals like Justin to constantly adapt and refine their analytical and interpretive skills to accurately react to the ever-evolving datasets they encounter.