Statistical Methods and Data Analysis †Free Samples to Students

Question: Discuss about the Statistical Methods and Data Analysis. Answer: Introduction This section of the paper concentrates on the construction of a report that looks to define the process of data analysis and one of type of data analysis known as data mining. This section explains the process of data analysis and data mining and then discuses about the role of data mining in a contemporary organization (Aggarwal Reddy 2013). The paper even discuses about the recognition and explanation of ethical implications that requires to take place in order to gather, store and utilize the customer information for the process of data analysis. The process of data analysis is a vital tool for the development of an organization with respect to the information that are collected from the customers. Data analysis technique and software are severely used for the classification of the information that are obtained by the companies and thereby identifying the proclivities regarding the consumers and establish a sense of bonding. Gandomi Haider (2015) describes data mining as a type of data analysis technique that looks to discover the information that was hidden from the previous information by analysing the huge database. This process is undertaken in order to exploit the hidden data in an appropriate manner and thereby enhance the knowledge of the contemporary firm. Data mining is found to be the primary step for the revealing of the methods and gathering the information. The combination of data mining with the extraction of the data tries to enhance the understanding that web data or web-mining is the actual process of data mining and this process is along with the other processes are helpful in automatically discover and the obtain the data from the documents and the online services (Lin et al., 2013). This explanation of data mining is the most appropriate one for the concerned paper. Data mining functions by abiding by the ethical codes and the code of conducts and therefore limits the entry of any fr audulent activities thereby safeguarding the confidential information of the consumers. The safeguarding of the information maintains harmony within the society. The main objective of data mining other than extracting the information is protection of the information and the authoritarian standards that are established so that with the help of these standards, the firm can perform their practices as they are confident that the data that they are making use of safe from being stolen. Therefore it can be seen that with the implementation of data mining, the data collected are safe as the main function of data mining involves protection of the data. Role of Data Mining The initiation of the use of the online and web services leads to the extensive use of the customer information as the information that are given out by the consumers are collected by the companies and are stored and recorded as the these information can be used by the firms for future use and to have knowledge about the consumers in an efficient way. The use of data mining is helpful for the companies to understand the future trends that the consumers may have. The customers have knowledge that the information they provide to the organizations will be utilized by them and they have no issues with the utilization of the information unless the information are used for wrong purposes (Roiger 2017). The consumers do not wish their private information to be revealed by the organizations and therefore they try to share only the general information as much as possible. Therefore, the process of data mining is vital as it this technique has the ability to segregate the private information f rom the general one and then the companies can store the personal information in their core database so that these information are not leaked (Agarwal Dhar 2014). There are numerous reasons why the process of data mining is significant. With the advent of time, the benefits of data mining are understood by the organizations. Zaki et al., (2014) describes that with the use of this system, the confidential matters can be erased from the marketing suggestions and then the data permits the role of information sharing. The process of data mining take place in collaboration with the contemporary firm tries to exploit information about the desires that are demanded by the consumers. Data mining have mainly been used for the purpose of national security, and tracking of unscrupulous activities. However, recently the organizations have started using this method as it aids in discovering the products and services that are faulty. Larose (2014) even explains that the process data mining is influential for undertaking any researches and this technique helps the firms in understanding the expectations of the consumers from the organizations so that the com panies can live up to the expectations of the customers and change their strategies to satisfy them. The data mining technique is vital for the purpose of estimating the consumer patterns that will be available in the future and therefore the firms can initiate decisions that are knowledge based (Silverman 2016) . The process of data mining helps in answering the questions that arises in the minds of the companies and thereby rectifying the available issues. Data mining equipments buff up data bases for the hidden patterns and reveal the relevant information that may be overlooked by the researchers while completing their research (Miles et al., 2013). The mechanism of data mining consists of four aspects namely cite the data into the granary system; manage the database, examination of the data and accessibility of the information to the business researchers. Therefore, it can be said that data mining is a vital tool for statistical analysis. Explanation and Identification of Ethical Implication The investigation of the data mining ethics is important before the research starts. The ethical codes that are prepared by the organization regarding the ethical implication is based on the community and the culture that is prevalent in the concerned country. The ethical standards become the beliefs of the society and an idea about what is right and wrong can be determined (Ritchie et al., 2013). The ethical and unethical aspects are then properly understood by the firms with ease. The aspect of culture plays a vital role for the construction of the ethics that can be implemented by the organizations. Ott Longnecker (2015) describes ethics as the set of values that builds the behaviour of the individuals and the firms. One of the most significant ethical responsibilities of a company involves the looking after the sentiments of the customers and rectifying the discrepancies that are discovered in the obtained data. The implementation of ethics creates a strong bonding between the stakeholder and the company. The use of these codes creates a positive impact on the mind of the management if the firm (McKenzie et al., 2016). A harmonic work culture leads to better output from the firm. The ethical codes are created in order to satisfy the anxiety of the consumers regarding the originality of the ethics that are introduced by the management for undertaking decisions and therefore reveal that the organization is concerned about safeguarding the personal information and thereby gaining customer loyalty (Neuman 2016). The organization even concentrates on the fact of analyzing the ethical codes to construct data miner ethics. The implication of ethics leads to the constructions of strategies that have better confidence from the viewpoint of the data miners. The implication of ethics discovers the truthfulness of the data as the availability of any fraudulent information can injure the consumers lifestyle (Salazar et al., 2015). The information that are gathered by the industries are essential to be true and fair and thereby effective decisions can be taken by the management so that effective and comprehensive services can be given out by the firm according to the desires of the consumers (Garner Scott 2013). With respect to the accessibility of the data, it is seen that ethics play a vital role as the word of ethics helps preserving the information about the consumers (Bazeley 2013). The consumers are reluctant about sharing their information to others except the ones they share. The consumers share their information with the faith that their data will not be leaked to others for any fraudulent activities (Lewis 2015). The ethical implication within the firm restricts these activities as it creates an obligation to the employees and the management to safeguard the information of the consumers from being leaked out. Therefore the employees safeguard the information and the information can only used by the researchers and no else can access the central database (Carrington et al., 2014). Therefore the use of ethical implication leads to confidence among the consumers and they gain the assurance to share their original information to the organization, which in turn will give the firms with original results that can be used by the firm to obtain the accurate result for decision making. Conclusion The analysis of the paper reveals that data analysis and data mining is an important tool for the researchers in order to give out the best results that can improve the performance of the firm and can even up lift the life if the consumers. The role of data mining is discussed thereby understanding the need for data mining in modern companies. The next section deals with the ethical implications regarding the gathering, exploiting and storing the data as the use of ethics creates a good relationship among the consumers and the organizations and gains confidence among the consumers that their information is safe thereby influencing them to reveal the correct information that leads to appropriate results from the firms that would help them in decision making. Reference List Agarwal, R., Dhar, V. (2014). EditorialBig data, data science, and analytics: The opportunity and challenge for IS research. Aggarwal, C. C., Reddy, C. K. (Eds.). (2013).Data clustering: algorithms and applications. Chapman and Hall/CRC. Bazeley, P. (2013).Qualitative data analysis: Practical strategies. Sage. Carrington, M. J., Neville, B. A., Whitwell, G. J. (2014). Lost in translation: Exploring the ethical consumer intentionbehavior gap.Journal of Business Research,67(1), 2759-2767. Gandomi, A., Haider, M. (2015). 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