Week 7 - Data Analytics by Jaime Wong

Discussion Questions (Case 2)

jaimewong3 — 2024-02-27 08:31:10 UTC

1.What ethical considerations should XYZ Electronics be mindful of when collecting and analysing data in the supply chain context?

2.What potential risks and limitations should XYZ Electronics be aware of when relying on data analytics for supply chain decision-making?

s3936577_2 — 2024-02-28 09:33:02 UTC

Ethical considerations such as PDPA, not to share or leak information and data provided from other organizations in the supply chain context.

Limitations could come in forms of how useful the information could be from the other organization. Some organization are not willing to share as they might lose their competitive advantage.

Data security

2024-02-28 09:33:34 UTC

Implement security measures to safeguard sensitive data from unauthorised access and breaches. This includes encryption, access controls and employee training on security best practices

2024-02-28 09:34:16 UTC

Consent from the user by creating user agreement
Limitation is data analytics usually couldnt predict sudden data fluctuation/event (covid,disaster)

2024-02-28 09:34:40 UTC

1) Organizations must consider privacy, fairness, security, retention, transparency, and accountability when collecting and using data. By navigating the ethical landscape carefully, organizations can ensure that they are using data in a responsible and ethical manner that respects the rights and interests of individuals.

2) While data analytics can offer significant benefits for supply chain management, there are also risks that companies need to be aware of. These include: Data quality: Poor quality data can lead to inaccurate insights and decisions.

3) Data analytics helps evaluate the risk associated with different suppliers. By assessing factors like financial stability, geopolitical risks, and past performance, businesses can make informed decisions about their supplier relationships. This ensures a more resilient supply chain.

Ethical Considerations:

2024-02-28 09:35:34 UTC

Data Ownership and Sharing & Long-term Impact

Risks and Limitations:

Technology Dependencies & Organizational Culture and Change Management

2024-02-28 09:36:59 UTC

Consent, anonminity, Confidential.
Potential limitation is the incorrect data that needs to be sifted out. May render results redundant.

2024-02-28 09:37:04 UTC

4) XYZ electronic must be transparent on how the collected data will be used and should be handled with upmost care. They should also ensure that data collected does not compromise the privacy of individuals.

5) Inadequate expertise in data analytics and interpretation may lead to misinterpretation of results or improper use of analytical tools, resulting in suboptimal decision outcomes for XYZ electronic

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ahilaana001 — 2024-02-28 09:37:15 UTC

Ethical considerations, such as adherence to the PDPA (Personal Data Protection Act), entail abstaining from the sharing or divulgence of information and data acquired from other entities in the supply chain.

Challenges may emerge regarding the practicality of information obtained from another organization. Some entities may hesitate to share, concerned about potential harm to their competitive advantage.

Data security and privacy risks

2024-02-28 09:37:19 UTC

Increased reliance on data analytics exposes organizations to data security and privacy risks, such as unauthorized access, data breaches, or regulatory non-compliance. Organizations must implement robust data security measures, encryption techniques, and privacy controls to protect sensitive information and comply with data protection regulations.

2024-02-28 09:37:43 UTC

It is important that any data collected from customer should not contain any sensitive personal information. Any sensitive information that collected from customers that they willingly provide should only be used for the stated purpose. No sensitive information should be shared to third-parties. For example, customers name, ic number etc.
It is very important for humans to check and analyse heuristically the recommendations given by the AI before implementing the recommendation. Often times AI will recommend unethical or non legal solutions to resolve issues. For example, AI might recommend using third party software to analyse customer sensitive information.

2024-02-28 09:41:26 UTC

XYZ Electronic should make sure that customer data is collected with clear permission, kept private, and without leaks. Additionally, they must make sure that their decisions are fair and transparent.

The electronics industry is subjected to rapid changes in technology and consumer preferences. This means that relying solely on historical sales data and trends can be risky as it might not capture the fast-evolving market dynamics. Hence, leading to pooe decisions.