$20 Bonus + 25% OFF
Securing Higher Grades Costing Your Pocket? Book Your Assignment at The Lowest Price Now!

Data Analysis Is A Significant Component For The Enhancement Of A Firm

tag 0 Download8 Pages 1,853 Words tag Add in library Click this icon and make it bookmark in your library to refer it later. GOT IT


What You To For Flowcharts As Presented In Your Prescribed Textbook?




Data analysis is a significant component for the enhancement of a firm. The data analysis software and techniques are crucially utilized for the diversification of the stats of a firm thereby recognizing the inclinations with respect to the customers and construct a bonding. Data mining is a part of data analysis techniques and these software supports the organizations to obtain additional knowledge about the customer demands and the trend that is pertinent in the market.

The advent of the new and improved techniques have led to the increase in the use of the online services as it would lead to the segmentation of the information that are discovered from the customers and then are obtained by the companies for evaluation so that they can give out efficient services. It is seen that numerous organizations utilize the data analytics like the method of data mining that supports in obtaining information about the consumers in the most appropriate manner. These techniques aid in explaining the future trends of the consumers (Zhao 2015). It is seen that the customers have extensive understanding about the fact that the firms record their personal data in order to initiate the method of data mining. It is seen that the customers do not prefer that their personal information is not unutilized and are not falling into the wrong hands. The requirement for maintain privacy is important and therefore, it is seen that the organizations undertake ethical implications and methodological concerns to preserve the privacy of the data (Witten et al., 2016). The process of data mining gives out several concerns and thus, several belvederes are displayed, that reveals the appropriate utilization of the procedures.


Data Mining


The process of data mining is described as gathering the unidentified data that were available from the previous histories out of the large data sets and it is seen that if they are utilized in an accurate way, it would lead to rise in understanding. Kop et al., (2015) reveals that data mining is only a single step of data analytic tools for the attainment of the analytical techniques and the understanding the behavior of the customers. Web mining even known as the data mining process even adds certain knowledge regardingthe overall process of data mining and methodologies associated with it that are spontaneously applied to extract and determine the data from the online services and online documents. The definition discussed in this paper describes the concepts in the most efficient way. The process is by far provides the expanded form of the process of data mining that is secured by the moral codes of conduct to limit the intervention of the personal security or any other injuries that can have an effect on the society (Gandhi & Armstrong 2016). The fortification of the information is the most vital function for the companies and they frame their task according to the routing standards that have been developed and follow the recommended methods that will be useful in providing a proper point of start for the firms as they develop their policies of data fortification. Therefore, it can be said that data safeguarding is the utmost role of the organizations.

Role of Data Mining

The introduction of data mining within the organizations has mainly been due to innumerable factors. The advantages of exploiting the process of data mining are well understood by the firms in the current scenario. It is known that data mining was mainly used for tracking any fraudulent operations and to analyze the national security of a country. However, recently with the advent of globalization, there have been various companies that have been entering the market of various countries and thereby increasing their customer base (Larose 2014). In order to organize the vast information with respect to customers organizations have been implemented the data mining procedure as reduces their work load and they can segregate the personal information of the consumers from the general information that can be shared with everyone. During the traditional method that were used by the organizations there was a confusion regarding, which data were personal and which were for general use. This led to misplacement of the data and the data falling into false hands thereby leading to problems for the consumers. The consumers were reluctant to share their original data. However with the introduction of data mining the information can be segmented with ease and this helps the firms to protect their personal information (Koh et al., 2015). The main role of data mining is to predict the future inclination of the market and the behaviors of the consumers with respect to the knowledge driven process of undertaking a decision. The mechanism of data mining can be useful for revealing the challenges that are faced by the organization. Data mining reduces the resolving time that traditionally took more time to rectify the challenges of the organization (Fan et al., 2014). The process of data mining improves the database mechanism with respect to the information that has not been discovered. Therefore data mining transforms the process of statistical evaluation within the organization.



Description and Identification of the Ethical Implications with respect to recording, obtaining of the customer data

The ethics and the moral conducts are essential to be examined so that the actions of individuals can be well understood. The ethics are established by looking at the sentiments of the society where the organization operates and thereby satisfying the consumers. Culture is regarded as the tombstone for the creation of ethical standards. The process of ethics is constructed with the help of a pool of moral assessment that sustains organizational behavior and attitudes of the human beings. It is the most effective process of completing a job that are demanded by the society and can be controlled under the legal system of a country (Shmueli et al., 2016). The assistance of the society is vital in order to frame an effective ethical procedure. There are circumstances when certain companies undertake unethical procedures but they perform by staying within the legal system. The ethical implication in a firm requires to be framed by looking at the factors that reveals discovers what is right and wrong.

The moral liabilities that a company is answerable to their customers and therefore it are their role to roam around and obtain figures and facts from the customers so that they can rectify the discrepancies that are available within the information given by the consumers (Nadiammai & Hemalatha 2014). There are various theoretical establishments that are prepared by companies to prepare the codes of ethics. It is seen that ethical implication can have a positive effect on the association of the firm with respect to their exterior partners. The codes even has a positive impact on the top level management of the firm and this up lifts them to establish a healthy culture leading to improved end results for the firm (Jain & Srivastava 2013).

The convenience of the information is enhanced even with the implementation of ethical standards. The companies tries to frame an extensive ethical strategy so that the customers are satisfied with their initiative and motivates them to share their information that can be useful for the process of data mining and increase the understanding of the customers by the industries. The use of ethical standard implies that the privacy of the personal information is maintained and thereby prohibits the exploitation of this information by other parties who are associated with the firm (Kaur & Aggarwal 2013). The implication of ethical standard is obvious as it typically safeguards the personal information and even segregates the general and personal information and thereby even aids the scientific analysts of the organization to analyze only the relevant information for their research (Fan and Bifet 2013). It is crucial that all the information are maintained in a server network with various protections and can be easily be accessible to only the parties who require this information in order to undertake any decisions or complete the data mining analytics.



Ethical implication is significant while assembling and recording the information in an effective way as the implementation of ethics establishes the feeling of safekeeping about the safety of the privacy thereby satisfying them (Braha 2013). Ethical procedure is undertaken to collect the data and the customers are not compelled to provide the information. The customers have the liberty to share their information up to limit they want. The companies therefore, introduce several operations thereby gaining an idea about their customers that develops their service and the procedure of data mining (Roiger 2017).



The paper under consideration is mainly constructed in order to understand the data analytical tools, mainly the technique of data mining and their role that helps in the enhancement of any firm. The next section of the study reveals the use of ethical standards and code of conducts that are essential to make the customers well aware of the processes that are used by the companies for the collection and the storing of their information and makes satisfies them that their data are in safe hands.


Reference List

Braha, D. (Ed.). (2013). Data mining for design and manufacturing: methods and applications (Vol. 3). Springer Science & Business Media.

Fan, C., Xiao, F., & Wang, S. (2014). Development of prediction models for next-day building energy consumption and peak power demand using data mining techniques. Applied Energy, 127, 1-10.

Fan, W. and Bifet, A., 2013. Mining big data: current status, and forecast to the future. ACM sIGKDD Explorations Newsletter, 14(2), pp.1-5.

Gandhi, N., & Armstrong, L. J. (2016, October). Rice crop yield forecasting of tropical wet and dry climatic zone of India using data mining techniques. In Advances in Computer Applications (ICACA), IEEE International Conference on (pp. 357-363). IEEE.

Jain, N., & Srivastava, V. (2013). Data mining techniques: a survey paper. IJRET: International Journal of Research in Engineering and Technology, 2(11), 2319-1163.

Kaur, P., & Aggarwal, H. (2013). Analysis of different Web Data Mining Techniques: A review.

Koh, H. C., Tan, W. C., & Goh, C. P. (2015). A two-step method to construct credit scoring models with data mining techniques. International Journal of Business and Information, 1(1).

Kop, R., Hoogendoorn, M., Moons, L. M., Numans, M. E., & ten Teije, A. (2015, June). On the advantage of using dedicated data mining techniques to predict colorectal cancer. In Conference on Artificial Intelligence in Medicine in Europe (pp. 133-142). Springer International Publishing.

Larose, D. T. (2014). Discovering knowledge in data: an introduction to data mining. John Wiley & Sons.

Nadiammai, G. V., & Hemalatha, M. (2014). Effective approach toward Intrusion Detection System using data mining techniques. Egyptian Informatics Journal, 15(1), 37-50.

Roiger, R. J. (2017). Data mining: A tutorial-based primer. CRC Press.

Shmueli, G., Patel, N. R., & Bruce, P. C. (2016). Data Mining for Business Analytics: Concepts, Techniques, and Applications with XLMiner. John Wiley & Sons.

Witten, I. H., Frank, E., Hall, M. A., & Pal, C. J. (2016). Data Mining: Practical machine learning tools and techniques. Morgan Kaufmann.

Zhao, Y. (2015). Data mining techniques.


Cite This Work

To export a reference to this article please select a referencing stye below:

My Assignment Help. (2018). Data Analysis Is A Significant Component For The Enhancement Of A Firm. Retrieved from

"Data Analysis Is A Significant Component For The Enhancement Of A Firm." My Assignment Help, 2018,

My Assignment Help (2018) Data Analysis Is A Significant Component For The Enhancement Of A Firm [Online]. Available from:
[Accessed 07 April 2020].

My Assignment Help. 'Data Analysis Is A Significant Component For The Enhancement Of A Firm' (My Assignment Help, 2018) <> accessed 07 April 2020.

My Assignment Help. Data Analysis Is A Significant Component For The Enhancement Of A Firm [Internet]. My Assignment Help. 2018 [cited 07 April 2020]. Available from:

For years now, is providing affordable essay help to millions of students worldwide. Our essay assistance services have helped us in assisting students with even the toughest essay assignments. We take pride in the fact that we cater the best assistance to search terms like help me with my essay. We offer affordable services in the fastest way possible. For our fast delivering services, students trust us with their urgent essay assignment needs. Two of our most popular essay writing services are maths essay help and English essay help.

Latest Accounting Samples

HI5020 Corporate Accounting And Exercise

Download : 0 | Pages : 18

Answer: Introduction: The financial performance of Rio Tinto, Fortis metals group, and BHP Billiton has been analyzed in the assessment. Moreover, the assessment also evaluates different segments of the annual report to determine the current financial position of the selected companies. The companies are under the Mining industry, which is one of the major contributed to the GDP of Australia. Furthermore, adequate analysis has been conducted ...

Read More arrow

ACC307 Accounting Theory

Download : 0 | Pages : 9
  • Course Code: ACC307
  • University: Elite Education
  • Country: Australia

Answer: Introduction A conceptual framework forms the structure of ideas and objectives that helps to create accounting rules and standards. The norms and standards that are placed in the conceptual framework describes the distinctiveness, the functions and boundaries of financial accounting and statements. This framework is also used as a basis for solving disputes in accounting.          The Statemen...

Read More arrow

ACC204 Accounting Management Assignment

Download : 0 | Pages : 4
  • Course Code: ACC204
  • University: The University Of Sydney
  • Country: Australia

Answer: Question 1 Straight Line Method                 2012 2013 2014 2015 2016 2017 Cost of Truck 65000             Residual Value 5000             Depreciation ...

Read More arrow Tags: Australia Brighton Humanities Computing Theory University of Sydney 

ACC6015 Corporate Accounting And Reporting

Download : 0 | Pages : 6
  • Course Code: ACC6015
  • University: Edith Cowan University
  • Country: Australia

Answer: Introduction: The main principles relating to the impairment is that an asset is not allowed to be carried into the financial report further than its recoverable value which is more than the assets fair value less its cost of sales and its usable value (Chen, Shroff and Zhang 2017). The carrying amount of the asset is then matched with the recoverable sum and then the asset is tested for impairment when the carrying value goes pas the r...

Read More arrow

ACC00715 Professional Auditing

Download : 0 | Pages : 4

Answer: Introduction This article demands the role of accountants in the field of auditing and assurance as explored in the website of International Federation of Accountants. For this purpose, the textbook consulted is 3rd edition (2017) of Auditing: A Practical Approach by Robyn Moreney, Fiona Campbell and Jane Hamilton. The discussion is related to the specific module of Audit and Assurance on the basis of the text book and different pa...

Read More arrow

Save Time & improve Grades

Just share your requirements and get customized solutions on time.

We will use e-mail only for:

arrow Communication regarding your orders

arrow To send you invoices, and other billing info

arrow To provide you with information of offers and other benefits




Overall Rating



Our Amazing Features


On Time Delivery

Our writers make sure that all orders are submitted, prior to the deadline.


Plagiarism Free Work

Using reliable plagiarism detection software, only provide customized 100 percent original papers.


24 X 7 Live Help

Feel free to contact our assignment writing services any time via phone, email or live chat.


Services For All Subjects

Our writers can provide you professional writing assistance on any subject at any level.


Best Price Guarantee

Our best price guarantee ensures that the features we offer cannot be matched by any of the competitors.

Our Experts

Assignment writing guide
student rating student rating student rating student rating student rating 5/5

1758 Order Completed

99% Response Time

William Martinez

MS in Biology

Washington, United States

Hire Me
Assignment writing guide
student rating student rating student rating student rating student rating 5/5

752 Order Completed

100% Response Time

Hugh Cleave

Masters in Human Resource Management (MMgt, HRM)

Wellington, New Zealand

Hire Me
Assignment writing guide
student rating student rating student rating student rating student rating 5/5

2279 Order Completed

97% Response Time

Zachary Perez

PhD in Computer Science and Information System

Washington, United States

Hire Me
Assignment writing guide
student rating student rating student rating student rating student rating 5/5

416 Order Completed

95% Response Time

Tyler Moore

MBA in Accounting

Washington, United States

Hire Me

FREE Tools


Plagiarism Checker

Get all your documents checked for plagiarism or duplicacy with us.


Essay Typer

Get different kinds of essays typed in minutes with clicks.


GPA Calculator

Calculate your semester grades and cumulative GPa with our GPA Calculator.


Chemical Equation Balancer

Balance any chemical equation in minutes just by entering the formula.


Word Counter & Page Calculator

Calculate the number of words and number of pages of all your academic documents.

Refer Just 5 Friends to Earn More than $2000

Check your estimated earning as per your ability




Your Approx Earning

Live Review

Our Mission Client Satisfaction

Great job , quick response. Will call back again , highly recommend ...............


User Id: 5475 - 07 Apr 2020


student rating student rating student rating student rating student rating

Great help. This website saved my life because I was behind in submitting and I have a jobwhich prevented me from completing the assignment. Thank you My Assignment


User Id: 376077 - 07 Apr 2020


student rating student rating student rating student rating student rating

I passed this particular course with very good. I hope to pass the other ones too. I am very happy


User Id: 347880 - 07 Apr 2020


student rating student rating student rating student rating student rating

The assigment u have sent me I think it’s fine but instead of I believe or I u can write student believe or like this it’s should not be I


User Id: 399433 - 07 Apr 2020


student rating student rating student rating student rating student rating
callback request mobile
Have any Query?