UNIT 5 P1, P2,
M1, D1
[Document subtitle]
,Context
P1.............................................................................................................2
P2................................................................................................................7
D1..............................................................................................................22
,P1
Introduction/scenario
In the scenario I was employed as a data analysis for a company which
Imports/export various amount off cheeses from France and the Netherlands the
company itself supplied around the UK to certain restaurants and specialists, as
my job/assignment I have been task to over come a issue with the company is
struggling with this is the currency exchange rate which fluctuates depending on
the economy it self as the product which they are selling is better to sell in a
strong and good economy, instead of a weak and poor one. I have been asked to
develop a data model which will predict the future sales of cheese. My Manger
has first asked me to make a report as they have a lack of experience in IT
themselves.
The spreadsheet should be accurate and should not have any errors in the report
I will explain how I will do this and which data I will use to develop the
spreadsheet itself.
Identifying the information and source
When It comes to make the spreadsheet it self there are many factors which will
take place but one off the main ones is the trustworthiness off the data it self the
source off the information has to be accurate and should be useable.
One off the ways in which I will make the spreadsheet trustworthy is verifying the
source it self and making sure all the data is useful an example of this is when
the cheese is sold in a good economy and when it is not with the right formulas I
will have a more verified source which will make the data much more useful
Information already available
Information which is already available can be seen though the scenario it self this
will allow for a better decision making process some off the information which is
already available is about how the cheese will sell in a good economy and less in
a bad using this information we can predict from past information off the
economies which were given wither there will be a growth in sales and revenue
and when there will be less of it from the scenario we also the cheese I supplied
from France and Netherlands to the UK this hits there will need to be a currency
exchange fluctuation which I can add to the spreadsheet also predicting the best
times for the future sales, all of this will allow for a good analysis off the
information when it comes to the company looking at the spreadsheet.
Additional information needed
After reading the scenario it self there will be a need for other information that
will allow me to develop the data model it self to a better understanding some off
this information it not given in the scenario itself, for the additional information
could be how much the customer is willing and wanting to pay for the
cheese/product itself It would need this to help with the currency part off the
, spreadsheet to see the influx off currency. This will also be linked to me finding
the exchange rate between the euro and pound this will help me find the best
price off the export off cheese between Netherlands, France to the UK. Another
additional information which is needed is the past growth off the economy in the
UK Netherlands and France and the sales which took place in those certain
economy this will help show me the best times and the worse time it will be to
export the cheese to countries.
One off the issues with these times off data is it becomes very old over time and
can lead to problems to avoid these issues over all I will check the
current/primary source and make a base estimate which will allow the product
price to be more accurate and have a correct model.
Source of additional information
When it comes to source of addition information the data need to be accurate
and trustworthy as in the data model itself there should be no error or mistakes
which can occur unreliable information can lead to an incorrect data model.
There are many types of additional information that being primary and
secondary. Primary can be used for the data model that being annual reports,
financial statements and interviews this will allow me to get a better
understanding of the company itself and will help make a better data model.
Secondary data is data which is collected by someone with a servery,
observation and questionnaire, an example off these 2 being used in the data
model can be for primary I can use reports to get a better understanding off
when cheese is sold a bought and the prices which they are during the different
dates/times an example off secondary data is we can conduct survey on the
client seeing how the product is for them and if there any improvements needed
with In the price or the product itself.
Overall, the information needs to be trustworthy and have an accurate value for
the spreadsheet to have no mistakes and errors.
Requirements for verifying source information
One we have got the information/data which we needed we then need to find
certain criteria which will show how good the data really is one off the ways we
can verify the data is seeing how reliable the information it if the
information/data is not reliable reliable then I would need to do my own research
another way we can verify the data it self is the date when the company
published the data as older data may not be as relevant any more all information
should be collected fast as it can change very fast this is how I will keep up to
date on the data model and have a verified source of information
Factors affecting information quality
Data quality/accuracy
There are many things which should be included in data quality/accuracy them
being completeness there should be no missing parts off the data and it should
be consistency with In the data if there isn’t the spreadsheet will be giving out
M1, D1
[Document subtitle]
,Context
P1.............................................................................................................2
P2................................................................................................................7
D1..............................................................................................................22
,P1
Introduction/scenario
In the scenario I was employed as a data analysis for a company which
Imports/export various amount off cheeses from France and the Netherlands the
company itself supplied around the UK to certain restaurants and specialists, as
my job/assignment I have been task to over come a issue with the company is
struggling with this is the currency exchange rate which fluctuates depending on
the economy it self as the product which they are selling is better to sell in a
strong and good economy, instead of a weak and poor one. I have been asked to
develop a data model which will predict the future sales of cheese. My Manger
has first asked me to make a report as they have a lack of experience in IT
themselves.
The spreadsheet should be accurate and should not have any errors in the report
I will explain how I will do this and which data I will use to develop the
spreadsheet itself.
Identifying the information and source
When It comes to make the spreadsheet it self there are many factors which will
take place but one off the main ones is the trustworthiness off the data it self the
source off the information has to be accurate and should be useable.
One off the ways in which I will make the spreadsheet trustworthy is verifying the
source it self and making sure all the data is useful an example of this is when
the cheese is sold in a good economy and when it is not with the right formulas I
will have a more verified source which will make the data much more useful
Information already available
Information which is already available can be seen though the scenario it self this
will allow for a better decision making process some off the information which is
already available is about how the cheese will sell in a good economy and less in
a bad using this information we can predict from past information off the
economies which were given wither there will be a growth in sales and revenue
and when there will be less of it from the scenario we also the cheese I supplied
from France and Netherlands to the UK this hits there will need to be a currency
exchange fluctuation which I can add to the spreadsheet also predicting the best
times for the future sales, all of this will allow for a good analysis off the
information when it comes to the company looking at the spreadsheet.
Additional information needed
After reading the scenario it self there will be a need for other information that
will allow me to develop the data model it self to a better understanding some off
this information it not given in the scenario itself, for the additional information
could be how much the customer is willing and wanting to pay for the
cheese/product itself It would need this to help with the currency part off the
, spreadsheet to see the influx off currency. This will also be linked to me finding
the exchange rate between the euro and pound this will help me find the best
price off the export off cheese between Netherlands, France to the UK. Another
additional information which is needed is the past growth off the economy in the
UK Netherlands and France and the sales which took place in those certain
economy this will help show me the best times and the worse time it will be to
export the cheese to countries.
One off the issues with these times off data is it becomes very old over time and
can lead to problems to avoid these issues over all I will check the
current/primary source and make a base estimate which will allow the product
price to be more accurate and have a correct model.
Source of additional information
When it comes to source of addition information the data need to be accurate
and trustworthy as in the data model itself there should be no error or mistakes
which can occur unreliable information can lead to an incorrect data model.
There are many types of additional information that being primary and
secondary. Primary can be used for the data model that being annual reports,
financial statements and interviews this will allow me to get a better
understanding of the company itself and will help make a better data model.
Secondary data is data which is collected by someone with a servery,
observation and questionnaire, an example off these 2 being used in the data
model can be for primary I can use reports to get a better understanding off
when cheese is sold a bought and the prices which they are during the different
dates/times an example off secondary data is we can conduct survey on the
client seeing how the product is for them and if there any improvements needed
with In the price or the product itself.
Overall, the information needs to be trustworthy and have an accurate value for
the spreadsheet to have no mistakes and errors.
Requirements for verifying source information
One we have got the information/data which we needed we then need to find
certain criteria which will show how good the data really is one off the ways we
can verify the data is seeing how reliable the information it if the
information/data is not reliable reliable then I would need to do my own research
another way we can verify the data it self is the date when the company
published the data as older data may not be as relevant any more all information
should be collected fast as it can change very fast this is how I will keep up to
date on the data model and have a verified source of information
Factors affecting information quality
Data quality/accuracy
There are many things which should be included in data quality/accuracy them
being completeness there should be no missing parts off the data and it should
be consistency with In the data if there isn’t the spreadsheet will be giving out
