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Keeping data accurate and reliable is seen as very important for businesses, as it is part of the running of the business for example business run using data as part as there day to day of the business; for example businesses such as Ford

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Introduction

Explain ways that the accuracy of source data can be improved before it is used. The Importance of keeping data accurate and reliable Keeping data accurate and reliable is seen as very important for businesses, as it is part of the running of the business for example business run using data as part as there day to day of the business; for example businesses such as Ford keep records of there customers, and potential customers, they have large databases of them, this helps Ford as this can help Ford to survive and stay alive, within the organisation people are constantly using data, this could be research or databases, this information is being used by the organisation it self from offices in head offices to the dealer branches where staff internally are using this information to help them in the running of the business. This research could help the company quite significantly as it contributes hugely into the success of the company. Businesses is using data all around the world, our world revolves around data, for example finding new cures for diseases in order for this to be done research and data would ...read more.

Middle

Investors are now becoming more cautious, with many reducing or withdrawing their investments. To keep data reliable ford must ensure that the data is up to date and it also needs to be complete. Old data is useless to the company, for example when Ford sends out information in the form of a letter, but if say the person moved house and Ford were still sending information to their old address, then they would simply would not get it. Data also has to be complete, uncompleted data such as postcodes missing a letter or number is again useless to the company because the company Ford cannot be sure the person will ever get the information they will be sending them. Accuracy of information can be improved by: > Checking the validation of the information source > Checking the facts and statistics (in terms of not being mislead) > Looking up where the source is originated > Comparing previews information accuracy with current one > Looking and checking whether the information source is meeting the actual needs Source Data How Accuracy can be improved Legal research data (For use in deciding business strategies) ...read more.

Conclusion

In this way they can evaluate any changes. Researching tools such as: > Mintel > National statistics > Social trends > Spending patterns > Target group index TGI All this helps Ford to identify customers buying behaviour in terms of and could help in developing a suitable product. Debtor amount owed data (For use in statements of account) Ford can do this by checking and comparing Owings to debts paid A business can get this information via seeking advice from certified accountants. Customers returns data (For use in monitoring quality) Ford can do this by monitoring products that had been returned and identifying problem, which as results can be dealt with. Results could also be: > Customer feedback > Suggestion schemes > Epos systems All this sources of information helps Ford to closely monitor certain quality of products and overall production performance, and where it can be improved. With the help of constant updates. Financial account data (For use in the final accounts) Ford can found out about information by identifying overspending areas and develop improvement tactics, for example strategies and can be done through. > Bank statements > Annual reports > Cash flows This information enables Ford to compare current data with previous data. ...read more.

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