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Essay / Keeping Data in the Business - 1005
Keeping accurate and reliable data is considered very important for businesses because it is part of running the business, for example, a business managed using data as part of its daily activity; for examples from companies such as FordExplain how the accuracy of source data can be improved before use. The importance of keeping accurate and reliable dataKeeping accurate and reliable data is considered very important for businesses as it is part of running the business e.g. operate using data as part of daily activity; for example, companies like Ford keep records of their customers and potential customers, they have large databases about them, this helps Ford because it can help Ford survive and stay alive, Within organization, people are constantly using data, this could be searches or databases, this information is used by the organization itself, from head office offices to dealership branches where staff in internal uses this information to help them manage the business. This research could help the company very significantly as it contributes immensely to the success of the company. Businesses use data all over the world, our world revolves around data, for example to find new cures for diseases, for this to be done, research and data should have had to be collected to achieve this goal, it so is fair to say that if data was not produced, collected and used, many things would not be put into practice, people would have suffered, that's why Ford needs data. be accurate and reliable as they help drive the business forward and drive it to achieve its goals. Ford needs data to be accurate and reliable because it helps to move the company forward and drive it to achieve its goals, only accurate data is useful to Ford, it would need to be very accurate because incorrect data will not be able to help the organization and would be rather useless. Accuracy and reliability of information is a very important aspect of business if it is to operate effectively and efficiently. In the United Kingdom, a certain percentage of British households support companies by purchasing shares. But the level of trust that people have placed in the business world by making these investments has not been reciprocated...... middle of paper ......ing modelsØ Target Group Index TGIAll This helps Ford identify customer purchasing behavior in terms of and could help develop a suitable product. Debtor Amount Due Data (for use in account statements) Ford can do this by verifying and comparing owed to paid debts. A business can obtain this information by seeking advice from chartered accountants. Customers return data (for use in quality control) Ford can do this by monitoring the products that have been returned and identifying the problem, which can be addressed as findings. The results could also be: Ø Customer Feedback Ø Suggestion Schemes Ø Epos Systems All these sources of information help Ford to closely monitor certain product qualities and overall production performance, and areas where they can be improved. Using constant updates. Financial accounts data (for use in final accounts) Ford may obtain information by.