BUSINESS ANALYTICS ASSIGNMENT

TOPIC : ETHICAL ASPECTS OF DATA

ANALYTICS

SUBMITTED TO SUBMITTED BY,

PROF. MUMTHAS N I SHILPA MOL V
ROLL NO. 40
T5 MBA B BATCH
INTRODUCTON
Data analytics (DA) is the process of examining data sets in order to draw conclusions about
the information they contain, increasingly with the aid of specialized systems and software.
Data analytics technologies and techniques are widely used in commercial industries to enable
organizations to make more-informed business decisions and by scientists and researchers to
verify or disprove scientific models, theories and hypotheses.

Data analytics initiatives can help businesses increase revenues, improve operational
efficiency, optimize marketing campaigns and customer service efforts, respond more quickly
to emerging market trends and gain a competitive edge over rivals -- all with the ultimate goal
of boosting business performance. Depending on the particular application, the data that's
analysed can consist of either historical records or new information that has been processed
for real-time analytics uses. In addition, it can come from a mix of internal systems and external
data sources.

More advanced types of data analytics include data mining, which involves sorting through
large data sets to identify trends, patterns and relationships; predictive analytics, which seeks
to predict customer behaviour, equipment failures and other future events; and machine
learning, an artificial intelligence technique that uses automated algorithms to churn through
data sets more quickly than data scientists can do via conventional analytical modelling. Big
data analytics applies data mining, predictive analytics and machine learning tools to sets of
big data that often contain unstructured and semi-structured data. Text mining provides a
means of analysing documents, emails and other text-based content.

Code of Ethics for Data Analysts: 8 Guidelines

As data analysts we face new and greater challenges every day. We struggle with sometimes
mind-bending data hurdles. This year has brought into focus a critical issue that impacts
everyone from the Chief Data Officer to the analytics intern: ethics.

GDPR is a first step in tending to the data privacy concerns of consumers. GDPR is the
European privacy law that went into effect in May 2018. GDPR is a law designed to give EU
citizens control over their own data. The goal is also to give businesses and consumers in the
EU a uniform set of privacy and data guidelines. This is just a small step.
Though organizations like the Digital Analytics Association lay out a code of ethics, there has
been little to keep companies and analysts in check. In writing this post, I have discussed our
code of ethics with several of my data analyst colleagues at Blast. To us, having a code of ethics
for data analysts is fundamental and we encourage others to meet a professional standard. It is
hard for the average analyst to impact how data privacy is handled on a corporate level.
Nonetheless, there is an ethical standard we can hold ourselves to in data analysis and reporting.

Code of Ethics: 8 Guidelines for Data Analysts

Below are 8 guidelines for those gray areas we all encounter as data analysts.
Protect Your Customer
Your customers are often handing over a lot of personal data. PII (personally identifiable
information) should be safeguarded rigorously. The last thing you want is for your company to
be the lead on the evening news for a data breach or misuse of data. As a rule of thumb, ask a
friend not in the industry, would I want this piece of data about me made public? If the answer
is “no,” proceed accordingly.
Be the Bearer of Bad News
Don’t be afraid to be the bearer of bad news, it is easy to get carried away by the desire to
show continuous progress or growth, even when none exists. You are not your numbers. A
down quarter is not a reflection of you personally. If the data reflects bad news, tell them
why.
Don’t Torture the Data
Using data in a manner that is either careless or intentionally wrong is not professional.
Anyone with an ounce of Excel knowledge can make a graph look better than it should. It is
easy to create a phantom trend or overstate a minor upswing in the numbers. Don’t. Also
keep in mind it is critical to own your data. Know the data backwards and forwards so you
don’t unintentionally lie by given wrong information.
: Don’t Play Favourites
As much as we’d like there to always be that golden nugget of data in our analytics –
sometimes it just isn’t there. Don’t manufacture or embellish a point that really belongs in the
appendix of your PowerPoint.
Don’t Lie
This seems like an obvious one. Nonetheless, I have seen many an analyst lie their way through
a presentation. The hallmark of any great analyst is trust. If your numbers are wrong, if there’s
a typo; own it. Address errors. Trust will pay dividends over the long haul. Your colleagues
will remember your integrity long after they have forgotten that you had the wrong number on
slide 12.
Understand the Role of Data Quality
Our Director of Analytics Strategy, Aimee Bos, reminded me that data quality is a huge issue.
Reporting bad data as truth is worse than reporting no data at all. Don’t blindly believe what
your analytics tool tells you. Understand the fundamentals of what goes into those numbers
Am I Improving the Business?
Do you ask yourself, “Am I improving this business as well as our customers?” The value to
the end customer and our business must always be present in our thinking. Make it the rule not
the exception that the customers own their data and it is safe in your hands.
Data Governance is Critical
In speaking with Blast’s analytics veteran, Halee Kotara, we discussed the multiple times data
governance has played a role in our work. We agree there is a need to create order and
democratize the data. Nonetheless, with less control can equal more ignorance. Have good
documentation and take the time to train your internal and external clients.

CONCLUSION

Ethics and Law in Data and Analytics, Analytics and AI are powerful tools that have real-
word outcomes. The automation of measurement and data collection procedures, coupled with
the development of vast capacity for data storage and the creation of highly sophisticated tools
for analysing and processing data, often in real time, is radically changing the world in which
we live. This has prompted considerable debate, both philosophical and legal, about
the right, legitimate, and proper ways to use such data. Also, since there is no absolute
authority to whom we can appeal for guidance, it is important that we, the data creators,
suppliers, and users, should engage with these ethical considerations