Paper 3-4 pages on data driven decision making

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Data Driven Decision-Making Report

Bryan West

WGU

Note to Student: Throughout this document, a Professional

Communications Evaluator has identified examples of the most

pervasive and repetitive writing concerns that are limiting readability.

The student must carefully review the entire submission, using the

identified examples as a guide, to correct the additional writing

concerns that recur throughout the submission. With resubmissions,

different writing concerns will be noted in order to provide the student

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Table of Contents 1. Summary ......................................................................................................................................... 3

2. Data Collected Report ...................................................................................................................... 3

3. Graphical Representation of Data Analysis ...................................................................................... 4

4. Effect of unethical dealings in financial institutions .......................................................................... 6

5. The technique used for financial institution data analysis ................................................................. 6

6. Conclusion ...................................................................................................................................... 7

7. References ....................................................................................................................................... 8

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1. Summary

For several years many financial institutions have been criticized and had been linked with a

negative understanding and the impression. There are those who claims they inspires greediness

and also encourages pleasure and thereby causes anxiety to their customers as they utilize their

products and services.

The basis of analyzing financial data is very useful to all financial intuitions as it will bind the

baking organizations’ information so that it can ease the identification of better business

environment and chances for expanding the business structure.

The idea of implementing data analysis in banks has been in the business discussion forums

and several researches have been done about the most pertinent ways of how to gather all the

information that revolves around the business organizations and how useful information can be

retrieved from these data.

2. Data Collected Report

From all spheres of industries, data is the most crucial component that can reflect the image

of the company and it can also change and determines how the business organization can

function. This data in the form that can be read and interpreted by the machine as well as the

human-readable information.

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Figure 1 Process of analyzing in financial institutions

The process of collecting data is dependent mostly on how that information will be used.

Financial institution data collected for the purposes of market analysis would need to undergo a

comprehensive procedure that entails a calculated searching technique by the analysts.

There are two types of data that are very important to the organizations. The primary data

which is collected directly by those carrying out analysis and research and they are usually very

important in addressing the issues that the organization is facing in the present. Secondary data,

on the other hand, refers to data that has been collected and is readily available for use by those

carrying out the analysis. Secondary data is very useful especially in cases where the primary

data are not available (Barth, & Levine, 2016).

3. Graphical Representation of Data Analysis

Sometimes the organizational data can be devastating, businesses are often challenged by the

huge amount of information and therefore having some means to summarize this data would be

more sensible even for the organization especially during decision-making process or in the

analysis.

Financial institution data can be represented in the histogram, bar chart etc. the graph

representation of the financial institution data is usually used when the organization wants to

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illustrate this information for analysis and to assist in predicting the business growth, competition

and expansion where necessary.

Figure 2 Capex Finance

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Figure 3 Data Analysis in Financial Institutions

4. Effect of unethical dealings in financial institutions

The perception of the unethical dealings in financial institutions has a diverse effect on its

consumers and their customers such as providing inaccurate information and deceptive

illustrations of productions and services, it will also fail to recognize precisely what the client

needs hence a greater disappointment to the client on giving proper recommendation. Further to

this, there is also absence of necessary skills and information.

5. The technique used for financial institution data analysis

A study that was done in Toronto, Canada in 2013 shows that the financial institution data is

one of the top three crucial issues that matter most in every organization. There are various

techniques that can be used to analyze data as stated below;

4.1 Classification tree analysis

In this technique, the numerical data are identified, and the findings are grouped together

depending or subject to the observation made. The team carrying out the observation would also

need to do a specific training particularly using the past findings while comparing to the present

observation.

4.2 Genetic algorithm

Genetic algorithm technique is usually motivated by the solution and the development of

analysis progression. It normally employs the natural methods as well as the inheritance

technique. Such methods are very useful when developing very valuable resolutions to the

hitches that would need more improvements to be made.

4.3 Regression Analysis

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Basically, regression analysis technique comprises the aspects of deploying some of the self-

determining variances so as to examine how it affects those variables especially on the issues

such as the duration that was taken during the whole process. The technique is more suitable

when applied to situations such as a progressive quantitative technique like that of speed and

weight.

4.4 Social Network Analysis

This technique was implemented in telecommunication production and almost immediately

was also implemented by the sociology for the purposes of learning interactive relationships. The

technique is currently practical especially in examining the associations among personnel in

different fields as well as those of money-making firms (Lone, 2016).

6. Conclusion

There are numerous and various ways of presenting defining and presenting financial

institution data during the analysis. Tools such as frequency data tables, histogram and bar charts

are some of the convenient and valuable tools for necessary in presenting a summarized data.

The data the represented on a frequency table normally depicts the existence of precise data

including the particular data at a specified interval.

Additionally, the other means to observe the data can be concluded by the use of the

percentages. The percentages depict the amount that is recorded and analyze at a particular given

time in the financial institution data score set.

Commented [PC63]: Parts of Speech – verb form Note: Varying Parts of Speech issues recur in the work. Module 6: Parts of Speech https://lrps.wgu.edu/provision/71484265 Click the link above to be directed to the Guide to Academic Writing created by the WGU Writing Center. This link includes information on the writing trait of Parts of Speech, more specifically, verbs.

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7. References

Barth, J. R., & Levine, R. (2016). Regulation and governance of financial institutions.

Cheltenham, UK: Edward Elgar.

Global financial development report 2017/2018: Bankers without borders. (2018).

Washington, DC: World Bank Group.

In Cavanillas, J. M., In Curry, E., & In Wahlster, W. (2016). New horizons for a data-driven

economy: A roadmap for usage and exploitation of big data in Europe. Switzerland:

SpringerOpen.

International Halal Conference, & In Nurhidayah, M. H. (2018). Proceedings of the 3rd

International Halal Conference (INHAC 2016).

Lone, F. A. (2016). Islamic Banks and Financial Institutions: A Study of their Objectives and

Achievements. (Springer eBooks 2016 [recurso electrónico].)