Introduction
This paper presents a reflective report on the seminars held on the topic of working with secondary data. For this, the Gibbs reflexive cycle is used as a convenient tool for the subjective understanding of the situation for personal purposes (Adeani, Febriani, and Syafryadin, 2020). This tool allows comprehensively assessing the feelings and potential practical benefits due to the broad differentiation of the steps of perception up to further research of the issue.
Secondary Data
Description
I listened to the seminar “How to Collect and Use Secondary Data,” which was prepared by the speaker and considered in detail the aspects of secondary data. They included a definition, available resources, classification concerning companies and press, and examples. The lecture resulted in a list for further reading for a more detailed study of the issue.
Feelings
I felt that this workshop was beneficial, informative, and complete. Links were provided to open and accessible libraries where mostly secondary information is stored. Link differentiation was accompanied by an indication of where terminals should be used. The lecture is structured logically, and a clear picture emerges of potential further work with secondary data.
Evaluation
The workshop structure is logical, supported by examples, and prepared links for further work and study of theory. The indicated pros and cons of this type of data allow immediately seeing the potential pitfalls of working with them. On the other hand, this workshop lacks any direct practical advice when working with specific libraries since it only states the need for a terminal. Otherwise, the seminar does not leave white spots on this topic.
Analysis
My individual contribution to implementing the knowledge from this workshop for a banking organization can be a broader assessment of statistical data for any specific issues that require preliminary analysis. It can include an assessment of a potential borrower and calculating the financial efficiency of banking projects. The tools that can be obtained by studying many open-source studies can be used in my practice.
Conclusion
The group contribution also consists of integrating such tools into various business processes of other departments of the banking enterprise. A serious analysis of companies will no longer be limited only to the evaluation of annual reports: familiarity with the reporting on the stock exchange will provide vital information for the bank before, for example, issuing a loan product. However, it is impossible to automate the process due to the broad diversification of available resources, which may require more time for analysis. In this case, the quality of the processed information increases significantly, which is critical in the conditions of the bank.
Action Plan
If I again have to face a similar topic at a seminar, I would pay attention to the principles of working with each library. In particular, it is necessary to clarify the points of differentiation of the usefulness of information by business industry: Bloomberg, for example, will be more beneficial for a bank than the base of sociological surveys (Istiani and Puspita, 2020). In addition, it is necessary to know what mechanisms allow for checking the quality of data.
Financial Analysis
Description
The second workshop about Hilton and Mariott Hotels’ financial information is more practical. The secondary nature of the data is leveled by parsing the financial components of the report into smaller primary data structures. Theoretical inserts accompany a detailed analysis of each indicator; respectively, these ideas are immediately considered through the prism of the specifics of the hotel business. Hence, the study of theory is given the key to interpreting these data.
Feelings
Prominent is using complex formulas for each financial indicator before interpreting it. A clear understanding of the primary data that make up this or that financial measure provides a wide range of tools for more profound research in the future. Consistent consideration of reporting as presented in the structure creates a clear plan for working with this type of document and data. One feels that the risk of errors that can be critical in banking is minimized.
Evaluation
The practical knowledge of the speaker differs from the theory of the specifics of the hotel business. First, relevant metrics are introduced, such as ADR and RevPAR, which are widely used in the industry (Dogru et al., 2020, Jayanti, Budarma, and Jendra, 2020, Lei, Nicolau, and Wang, 2019, Mun, Woo and Paek, 2019, Ozdemir et al., 2021). Secondly, in contrast to textbook theory, the author offers a detailed analysis of cash flows both for the industry and for the particular case of Marriott hotels. Thirdly, a crucial horizontal interpretation of the data is given, which allows tracking the dynamics over long periods, opening up opportunities for deeper analysis. Consequently, the speaker shows how to adapt the specifics of the business industry to financial analysis. In addition, the presentation shows the key points to use in a vertical comparison with competitors and how to interpret the data as a whole. Finally, integrating stock data into the analysis of secondary data from enterprise reporting is an undoubted advantage of the speaker’s approach.
Analysis
A possible development area lies in adapting such an analysis to the specifics of banking. The convenience of using this workshop in this vein lies in that working with finance is a direct professional function of our company. My contribution may be to broaden my understanding of the industry-specific metrics that need to be considered as part of my valuation work. The group’s benefit is exploring other available public sources of secondary data as a tool for assessing companies for financial stability.
Conclusion
I learned the importance of including stock and specific indicators in the analysis of any company, as they can reflect the potential investment attractiveness and, accordingly, the presence of possible additional sources of income. RevPAR and ADR, which are unique for the hotel business, certainly have analogs in the construction, medical, and other areas of activity of organizations that often turn to our company for banking services. Research confirms my thesis; therefore, this issue needs to be studied in more detail from my banking activities (Kumar, 2020; Silva, Souto, and Pereira, 2019; von Mises, 2021). I would focus more specifically on the tools for interpreting secondary data in the future, mostly related to promising technologies (Goodell et al., 2021; Mądra-Sawicka, 2020; Moro-Visconti, Cruz Rambaud and López Pascual, 2020; Moro Visconti, Montesi and Papiro, 2018). Therefore, my practice may change in the future due to the activity’s specific and technological aspects.
Action Plan
Again, when working with such presentations, I will focus on using these tools and their implementation using advanced technologies. The connecting link of the analysis lies in working with big data, expert systems, and neural networks, which are the future of any large organization. At the same time, I should always leave room for human analysis and the opportunity to resort to primary data that can change the statistics in the reporting of a particular company.
Conclusion
These workshops provide an essential foundation for analyzing secondary data in general and provide an initial set of tools for assessing financial performance in the hospitality industry. The Gibbs reflexive cycle model enabled it to identify and preliminarily adapt the acquired knowledge to banking specifics. Finally, potential opportunities for organizational changes in the business processes of our banking enterprise were identified through the reformation of valuation activities and the potential implementation of technologies used in this area.