Data Analytics and Data Control Study Essay
Order ID |
53563633773 |
Type |
Essay |
Writer Level |
Masters |
Style |
APA |
Sources/References |
4 |
Perfect Number of Pages to Order |
5-10 Pages |
Description/Paper Instructions
Data Analytics and Data Control Study Essay
Running Head: DATA ANALYTICS AND DATA CONTROL 1
DATA ANALYTICS AND DATA CONTROL 4
Topic 2
You mentioned that all companies should have the same controls over customer data. What key elements would you make sure all companies have in place and what may the impact be on a smaller company vs a larger company?
Topic 1
You mention the cost of tax fraud is in the billions. How do you think the IRS could specifically use data analytics to detect this type of fraud?
How Internal Revenue Service Uses Big Data and Data Analytics
According to Houser and Sanders (2017), ‘the IRS is the branch of the United States Department of Treasury that is responsible for administering the Internal Revenue Code and enforcing tax law.’ The Internal Revenue Service uses a range of analytic ways to handle issues like ID thievery, refund fraud, optimization of inventory and other various activities that are within its statutory mandate. Analytics is very vital in the management of risk and decision making in the IRS. The IRS uses big data analytics to access commercial and public data. This data helps in identifying tax evaders. For example, IRS was able to resolve over $3.7 million tax the ability to easily verify tax return information allowed the IRS to resolve more than 3.7 million tax return inconsistencies in 2015 which totaled more than $ 6.3 billion.
According to Alarie, Niblett, and Yoon (2019) data analytics help the IRS and other tax regulators in administering tax law effectively. The IRS has large amounts of data which it uses to identify the tax gap, that is, the tax it actually collects and the tax it would collect if all taxpayers were compliant. They further argue that ‘predictive analytics can be used by tax authorities to optimally allocate their scarce resources and more precisely target enforcement efforts to yield optimal results, including identifying and pursuing taxpayers who are less likely to comply with their obligations under the status quo.’
According to Olavusrud (2019), the IRS uses ‘data analytics to detect and combat fraud, the Government Accountability Office (GAO) estimates that criminals attempted at least $14 billion in identity theft tax refund fraud in 2015, and the Internal Revenue Service (IRS) paid out at least $2.24 billion on that amount.’ In an attempt to address this issue, the IRS opted for advanced data analytics.
Customer Data Control and Use
Managing customer data is a controversial issue. According to Kerber (2016), ‘consumer data is now the world’s most valuable resource—”the oil of the digital era”—and needs to be treated and safeguarded as such. Failing to do so can result in serious damage.’ For example, in 2016 Uber’s database was hacked and private data of approximately 57 million people were accessed. This affected the reputation of Uber Company and it cost them $148 million in settling the damages. Organizations need to ensure proper collection and management of consumer data to avoid breach as this leads to loss of customer trust.
According to Murphy and Martin (2016), ‘the average cost of a data breach is $3.86 million. It’s estimated that small and medium-sized businesses (SMBs) experience average losses of $120,000 per data breach.’ When an organization gathers personal information about its customers they are obligated to keep the data safe. This data should not be accessible to everyone as it includes personal information like their phone numbers, home addresses, and even their company financials. This is a way for businesses to build trust with their customers. According to Kerber (2016), businesses should consider investing in a customer relationship management tool which is a great way to organize and keep customer data safe. For example, Expensify started using Zendesk Sell to store client information. Sell has kept the company’s data safe and also highlights potential improvement opportunities.
All organizations should have the same controls over customer data. All customer data should be treated with equal measure as no data is superior to the other. According to Roundtree (2016) ‘investing in the security of your data is an investment in your company’s future, which is money well spent.’
References
Alarie, B., Niblett, A., & Yoon, A. (2019). Data Analytics and Tax Law. Available at SSRN 3406784.
Houser, K., & Sanders, D. (2018). The Use of Big Data Analytics by the IRS: What Tax Practitioners Need to Know. Houser, Kimberly and Sanders, Debra, The Use of Big Data Analytics by the IRS: What Tax Practitioners Need to Know (February, 2018). Journal of Taxation, 128(2).
Kerber, W. (2016). Digital markets, data, and privacy: competition law, consumer law and data protection. Journal of Intellectual Property Law & Practice, 11(11), 856-866.
Martin, K. D., & Murphy, P. E. (2017). The role of data privacy in marketing. Journal of the Academy of Marketing Science, 45(2), 135-155.
Olavusrud, T. (2019). IRS Combats Fraud with Advanced Data Analytics. Get over It. SMU Sci. & Tech. L. Rev., 19, 3.
Roundtree, B. (2016). U.S. Patent Application No. 15/171,997.
RUBRIC
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POOR / UNSATISFACTORY |
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EXCELLENT |
Content (worth a maximum of 50% of the total points) |
Zero points: Student failed to submit the final paper. |
20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. |
30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. |
40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. |
50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. |
Use of Sources (worth a maximum of 20% of the total points). |
Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper. |
5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. |
10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. |
15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. |
20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. |
Grammar (worth maximum of 20% of total points) |
Zero points: Student failed to submit the final paper. |
5 points out of 20: The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors |
10 points out 20: The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors |
15 points out of 20: The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. |
20 points: The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. |
Structure of the Paper (worth 10% of total points) |
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5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements. The student also significantly writes too large or too short of and paper |
7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. |
10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper. |
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