Unit 5 DB - The statement Using the right analysis tool...

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The statement “Using the right analysis tool will compensate for inexperienced managers” depicts that if a company makes use of the right analytical tools it can atone for inexperienced managers. I tend to believe this statement. Data analysis tools can easily respond to queries that new, inexperienced managers cannot. These queries can provide a wealth of information concerning a number of areas of a business’s procedures. It is then up to the management teams to interpret the data and determine what variables are relevant. Data analysis is a process of probing, cleaning, converting and modeling data with the goal of highlighting valuable information in order to make educated business decisions. According to Chary (2006) Data analysis tool assist this process of data analysis in a substantial manner, however Herbert (2009) felt the ceremonious understanding dictates that operational data analysis tools, only help in the management of mundane contingents or financial and accounting diligences. Data Analysis tools are very important to the finance and accounting departments of
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Unit 5 DB - The statement Using the right analysis tool...

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