Digital and Data Skills – Individual Report Assignment
Development of modern technology and different digital and data skills has replaced traditional methods of business management by incorporating new innovative technology. This report has focused on two important dimensions of modernization associated with business management and professional development. Study has focused on important digital and data skills for the role of business manager in Wagestream.co.uk and contribution of advanced technology including artificial Intelligence and big data analysis in effective management. Moreover, a self-auditing tool has been used in this study for identifying existing skills and needed skills for becoming a successful business manager.
Digital and data skills are associated with managing digital platforms for performing different organisational activity in order to manage customers and business processes with trending digital technologies. Development of specific digital and data skills such as search engine optimisation, data protection and privacy maintenance and management of cookies are needed for business activities. This report is going to focus on conducting online self-auditing by using digital competency tools for understanding required digital skills for becoming a business manager at Wagestream.co.uk. The aim of the study is to focus on important digital and data analysis qualities and different elements of advanced technology for managing business organisation by ensuring security and data protection.
Based on the result of self-auditing by using a “digital competency tool” online-self-assessment tool, it has been observed that I have good problem solving along with information and data literacy skills.
Figure 1: Radar Chart of online self-assessment
Problem solving: The problem solving skills is a major component under digital and data skills and it includes data visualisation, critical thinking, Structured Query Language, search engine optimisation and management of data privacy and protection. According to the view of Fitzgerald et al., (2018), data visualisation skills are associated with the abilities of identifying potential digital data that can help in creating new ideas and analysing different digital marketing elements for understanding core aspects. In addition, critical thinking skills of digital and data analysis processes greatly help in problem solving by connecting different circumstances such as business communication and marketing performance for identifying the most appropriate solution. According to the view of Sousa and Rocha, (2019), structured query language is another significant element of problem solving that helps in managing digital and data of various online platforms by accessing in comfortable and regional languages.
Focusing on learning professional search engine optimization skills can help in improving the analytical process for becoming a successful marketer in order to understand different aspects of search strategy in order to become a market expert. Other significant skills that are already present under problem solving are search engine optimisation. Skills of search engine optimisation help in Internet surfing and online research by reviewing different websites and domains and for getting appropriate marketing and management data for organisational Development. According to the view of Maurya, (2018), these skills greatly help in adding new dimensions during the decision making process for problem solving assessment based on exiting marketing circumstances of search optimisation.
Management of data privacy and proper ideas regarding data protection plays a significant role in the problem solving process associated with digital and data skills. According to the view of Silvaggi and Pesce, (2018), having a proper idea of using safe and authentic websites and URLs help in maintaining individual data by avoiding opportunities of interference by third parties and hackers for data violation. This process greatly helps in resolving possible problems by identifying an appropriate solution for protecting organisational confidential information in digital platforms.
Information and data literacy skills: Another significant data and analysis skill that I already have is “information and data literacy skills”. I have clear ideas regarding different types of digital data, cloud storage and computing, coding and software language and various statistical programs for Finance Management. Understanding of different types of digital data such as binary is important for understanding aspects of digital data for controlling organisational performances and intellectual properties. As for example, the use of binary can help to managed different types of database such as hierarchical and networks database of marketing. According to the view of Gray et al., (2018), capabilities of cloud storage and cloud computing help in securing organisational and confidential information in a safe place with proper password protection. In addition, skills associated with coding and software languages such as Python and C + + are important for enhancing data literacy for managing and controlling digital platforms and computer systems for business purposes.
Important digital and data skills that are needed to be developed are communication and collaboration, safety and digital content and creation. Development of communication and collaboration skills such as identification of appropriate communication tools, collaboration software and having proper knowledge of digital collaboration and communication terms and conditions are necessary for managing organisational performances. As for example, the use of Skype and Zoom Computing communication tools and assertive communication skills can help to manage international clients of Wagestream.co.uk. According to the view of Gamage, (2016), proper knowledge of social media marketing such content creation and contract policies are the most important skills needed for a general manager of an organisation. In addition, the process of accepting cookies and contract terms and conditions is necessary for enhancing communication and collaboration with online organisations through digital platforms for business growth and development.
Cyber security and safety of confidential data and important personal information is necessary skills for doing online business and using digital platforms for organisational performances. According to the view of Gruber, (2017), the most significant elements that need to be learnt for improving digital safety are limitations of Personal Information Professional, privacy setting, safe browsing, secure internet connection process, safe downloads and sharing, maintenance of search history and development of a strong password. According to the view of Johnson et al., (2019), it is needed to focus on firewall Technology for understanding digital safety is an important element and it must be developed by doing professional courses in digital and data safety skills.
Skills associated with ‘digital content and creation’ are necessary for developing innovative digital content that can help to acquire maximum possible and business opportunities for brand expansion. According to the view of Periáñez-Cañadillas et al, (2019), skills such as video editing, portfolio design, online advertising and web designing are necessary for creating digital content and it can lead to business growth and development. Development of different skills associated with digital content can help in enhancing creativity and artistic talent.
For surviving in the role of business manager digital and data skills are needed in order to manage different functional areas of Wagestream.co.uk. According to the view of Brock and Von Wangenheim, (2019), the skills such as information and data literacy and problem solving can be implemented for managing the Financial Management process and operational areas of Organisation such as monetary regulation and new organizational policy in a specific way. Information and data literacy can be used for understanding customer perspective regarding income streaming and financial payment method for controlling different aspects. For example, skills such as data protection and confidential management can be used in building financial resilience of Wagestream.co.uk that can protect bank statements and financial status of different customers.
However, focussing skills such as safety and digital content creation can be implemented by business managers of Wagestream.co.uk for developing appropriate marketing and customer retention strategy. After being a business manager, these skills can be used for managing organizational business practices. According to the view of Yu et al., (2019), use of appropriate communication tools such as emails and communication software including Skype, zoom computing and Oracle can be used for contacting flexible business meetings for the decision making process. In addition, use of communication and collaboration skills can be also useful for controlling inventory and customer retention process of Wagestream.co.uk by giving review and feedback opportunities from a business perspective. According to the view of Grabowski et al., (2019), Safety skills such as privacy setting, safe download and safe share, firewall maintenance and controlling of search history and user access can be implemented in functional areas of Wagestream.co.uk for enhancing Human Resource Management as the role of business manager.
Implementation of technological advancement is necessary for Wagestream.co.uk in order to manage customer acquisition and marketing performances of the organisation by ensuring effective management of different functional areas. According to the view of Grabowski et al., (2019), identification of appropriate advanced technology such as artificial intelligence and big data analysis software can play a significant role in improving traditional management methods by incorporating modern and trending technologies.
In order to implement advanced technology including artificial intelligence, big data analysis and internet of things the following steps must be considered:
Organisational auditing: The first step of implementing advanced technology in Wagestream.co.uk is conducting organisational auditing identifying the need of specific software and Technology for maintaining business performances and practices in order to provide better Customer services. According to the view of Grabowski et al., (2019), proper investigation of possible technologies that can help in solving organisational problems such as data management of different clients in a specific time period and maintenance of cash flow for improving Financial services. Moreover, big data analysis technology is appropriate for managing financial information of multiple clients in a short period of time and can help to improve the existing Financial Management process of Wagestream.co.uk. On the other hand, major requirements of incorporating modern technology can be identified by performing internal auditing of security management and access control processes after organisation. As argued by Lee et al., (2019), to maintain employees’ performances and work engagement artificial intelligence can be implemented in Wagestream.co.uk for improving HRM practices.
Assemble of implementation team: The second step of the process of implementing advance and Technology at Wagestream.co.uk can be applied by assembling an implementation team by developing proper planning and risk assessment. According to the view of Zavadskaya, (2017), assembly of a proper team that included legal experts, technological experts and budget management members can help in achieving success in the implementation process. This process can be helpful for ensuring proper application of selected modern technology in Wagestream.co.uk.
Implementation of Technology through pilot program: For applying advanced technology in Wagestream.co.uk pilot program can be considered as the implementation process. Consideration of pilot programs helps to test different software of artificial Intelligence and big data analysis such as Xplenty, Apache Hadoop, Knime, Lumify and Cassandra. According to the view of Zavadskaya, (2017), this process helps in understanding capabilities and longevity of different software by using appropriate results of the sample groups before making a big plunge.
Training of new tools: another potential step necessary for applying new advanced technology in Wagestream.co.uk providing appropriate training to the internal and external stakeholders for using new tools of artificial Intelligence and big data analysis. According to the view of Johnson et al., (2019), providing training regularly for 1 to 3 months is needed for the employees to adopt new technology for incorporating with modern tech innovation systems for improving their engagement and organisational performances. This process can help Wagestream.co.uk in adopting advanced technology associated with artificial Intelligence and things of the internet appropriately for their professional development that can help in providing better Financial Management services to the customer.
Maintenance and analysis: focus on regular maintenance of different artificial intelligence software such as Looker, Zoho analytics, Periscope data, Gooddatab and Data analytics including Cassandra and Apache Hadoop help in continuing work progress and improvement of Wagestream.co.uk. According to the view of Mhlanga, (2020), regular maintenance and analysis of applied software of artificial intelligence and big data analysis are important for identifying the possible threats and associated challenges. In addition, this process is also beneficial for managing Human Resource Management and the financial planning process of Wagestream.co.uk to ensure continuous growth and development of marketing areas (Zhu et al., 2018).
Therefore, using the above methods of applying new technology can help in improving leadership process, profit line, employee management and organizational performances.
Application of advanced technology in Wagestream.co.uk management system can positively support establishing effective management from different dimensions such as functional management, data management and customer and employee’s management. According to the view of Choi et al., (2019), implementation of different software of artificial intelligence, things of Internet and big data analysis have capabilities to improve the traditional Financial Management process by incorporating advanced technology such as cloud computing and modern communication tools for effective management. The following are the ways where AI, ToI and Big Data Analysis can support Wagestream.co.uk towards effective management:
Developing innovative strategies: By contributing in developing innovative strategies artificial intelligence, the internet of things and big data analysis methods can positively contribute towards effective management of Wagestream.co.uk. According to the view of Wang et al., (2019), artificial intelligence can help to identify most appropriate and profitable financial policy by conducting market research of trending financial and monetary policies and help in managing different organisational functions. In addition, things on the internet can help in developing appropriate promotional strategies for incorporating trending social media content advertising processes for increasing existing customers and Business expansion.
Deployment of organisational goals: another significant contribution that can greatly help towards achieving the effective Management process of Wagestream.co.uk by incorporating advanced technology is deployment of organisational goals based on competitive structure for maximum opportunities of competitive advantage. According to the view of Wang et al., (2019), this process can help to manage customer relationships and organisational relationships with investors by improving business performances through incorporation with modern technologies.
Alignment with KPIs: another significant contribution towards effectiveness by incorporating with advanced technology is alignment with key performance indicators. As per the view of Mehta and Pandit, (2018), this process can help to understand required changes of the organisation for balancing with customer demands and employee retention process. However, alignment with key performance indicators greatly help in managing annual profit trends by continuous development of organisational performances of Wagestream.co.uk.
Tracking organisational performance: Implementation of artificial intelligence software for human resource management can contribute in the process of monitoring and promoting proper organisational action. As per the view of Mehta and Pandit, (2018), it can also help in the organization process associated with managing performance of internal and external stakeholders of Wagestream.co.uk.
Development of Advanced leadership: Applying potential software of big data analysis in Wagestream.co.uk can help in improving effective management by developing advanced leadership strategy. This process can help to improve organisational communication tools and techniques for improving relationships between internal stakeholders for providing better financial services. According to the view of Mehta and Pandit, (2018), advanced leadership can help in managing Global customers by discussing major problems and incorporating them with different teams.
From the above discussion, it can be concluded that focus is on different required skills of digital and advanced technology and necessary managing personal and professional life. Conducting self-auditing regarding digital and data skills can help individual strength and weakness of digital technology. This process has potential capabilities to help in growing needed skills for maintaining business activities from different dimensions by securing data privacy and user access. Moreover, evaluating advanced technology search as the internet of things, big data analysis technology and artificial intelligence help in understanding their contribution to business development in the present context in the competitive edge. Developing skills associated with advanced technology help in minimising human time and efforts for completing different operations of business management and growth.
Brock, J.K.U. and Von Wangenheim, F., 2019. Demystifying AI: What digital transformation leaders can teach you about realistic artificial intelligence. California Management Review, 61(4), pp.110-134.
Choi, T.M., Wallace, S.W. and Wang, Y., 2018. Big data analytics in operations management. Production and Operations Management, 27(10), pp.1868-1883.
Fitzgerald, B.K., Barkanic, S., Cardenas-Navia, I., Chen, J., Gross, U. and Hughes, D., 2018. Lessons from the Great Recession: A digital recovery rewards digital skills in emerging fields. Industry and Higher Education, 32(1), pp.57-61.
Gamage, P., 2016. Big Data: are accounting educators ready?. Journal of Accounting and Management Information Systems, 15(3), pp.588-604.
Grabowski, R., Siegel, B., Johnson, C. and Cunningham, E., 2018. Finance in a digital world: technology as a partner, not a threat. The Journal of Government Financial Management, 67(4), pp.18-23.
Gray, J., Gerlitz, C. and Bounegru, L., 2018. Data infrastructure literacy. Big Data & Society, 5(2), p.2053951718786316.
Gruber, H., 2017. Innovation, skills and investment: A digital industrial policy for Europe. Economia e politica industriale, 44(3), pp.327-343.
Johnson, K., Pasquale, F. and Chapman, J., 2019. Artificial intelligence, machine learning, and bias in finance: toward responsible innovation. Fordham L. Rev., 88, p.499.
Lee, M.R., Yen, D.C. and Hurlburt, G.F., 2018. Financial technologies and applications. IT Professional, 20(2), pp.27-33.
Maurya, A., 2018. Understanding job-skill relationships using big data and neural networks. In Bloomberg Data for Good Exchange Conference.
Mehta, N. and Pandit, A., 2018. Concurrence of big data analytics and healthcare: A systematic review. International journal of medical informatics, 114, pp.57-65.
Mhlanga, D., 2020. Industry 4.0 in Finance: The Impact of Artificial Intelligence (AI) on Digital Financial Inclusion. International Journal of Financial Studies, 8(3), p.45.
Periáñez-Cañadillas, I., Charterina, J. and Pando-García, J., 2019. Assessing the relevance of digital competences on business graduates’ suitability for a job. Industrial and Commercial Training.
Silvaggi, A. and Pesce, F., 2018. Job profiles for museums in the digital era: research conducted in Portugal, Italy and Greece within the Mu. SA project. Journal of Cultural Management and Policy, 8, p.56.
Sousa, M.J. and Rocha, Á., 2019. Skills for disruptive digital business. Journal of Business Research, 94, pp.257-263.
Wang, Y., Kung, L. and Byrd, T.A., 2018. Big data analytics: Understanding its capabilities and potential benefits for healthcare organizations. Technological Forecasting and Social Change, 126, pp.3-13.
Yu, T.K., Lin, M.L. and Liao, Y.K., 2017. Understanding factors influencing information communication technology adoption behavior: The moderators of information literacy and digital skills. Computers in Human Behavior, 71, pp.196-208.
Zavadskaya, A., 2017. Artificial Intelligence in Finance: Forecasting Stock Market Returns Using Artificial Neural Networks.
Zhu, L., Yu, F.R., Wang, Y., Ning, B. and Tang, T., 2018. Big data analytics in intelligent transportation systems: A survey. IEEE Transactions on Intelligent Transportation Systems, 20(1), pp.383-398.
Know more about UniqueSubmission’s other writing services: