Data Table Analysis

688 Words Dec 9th, 2015 3 Pages
Data Table Analysis Accounting 542
November 6, 2015

Data Table Analysis Organizations rely heavily on receiving accurate data and information to make strategic business decisions. The concept is a critical aspect for modern commerce, since technological advances allows any business to track, trace, and predict inventory usage up to the moment. Each diagram in an analyses alludes to how accurate an organization’s methodology for operations is. Data tables are a useful tool for organizations to determine a cost-effective method for improving inventory control and for creating methods to improve business processes.
Evaluate Data Table Design Elements from an Accounting
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Each symbol’s shape represents a different label. For example, inputting a rectangle identifies the entity, and a diamonds highlights the relationships between items. The analyst inputs an oval to list the entity’s attributes. Each design links to another with lines illustrating direct relationships between categories (Bagranoff et al., 2008). The organization currently applies methods common to most businesses. The current approach is a success; however, the company can improve on some aspects.
Room for Improvement
Kuddler’s Fine Foods’ inventory data chart details critical information to management. A data table with accurate information provides an efficient, more reliable basis for forecasting and relaying up-to-date information. Amidst the current high-quality inventory table, some notable improvements can assist the organization’s inventory tracking capabilities.
One field missing in the table is the quantity of each item. Management must possess a count of each inventory item. Furthermore, the wholesale and retail cost of each inventory item must accompany the data table’s current labels. The cost categories can determine if and when management must adjust prices.
The use of Pivot Tables to Assist with Making Decisions
Pivot tables play a vital role in helping to successfully manage a company’s inventory. Management takes the information from the table and creates a forecast of sales. The pivot table is critical in providing the foundation for
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