Economic performance of Russia and India (2010-2012) Essay

Economic performance of Russia and India (2010-2012) - Essay Example ate 2012 2011 2010 Russia 6.0% 6.5% 7.5% India 9.9% 9.8% 10% Source: CIA, 2013b; Statista, 2013a, b Gross Domestic Product (GDP) Gross domestic product (GDP) is defined as â€Å"the sum of market value of all final goods and services produced in a country during a specfic period of time, generally one year†7 (Dwivedi, 2010, p. 5). In Russia, the country’s GDP has signficantly increased from $2.322 trillion in 2010 up to $2.509 trillion in 20128 (CIA, 2013a). The signficant growth rate in Russia’s GDP somehow explains why this country had a gradually decreasing unemployment rate. Since demand for final goods and services increases, demand for more jobs also increases. In India, the country’s GDP also increased from $4.205 trillion in 2010 as compared to $4.735 trillion in 20129 (CIA, 2013b). In general, the real GDP values considers the impact of inflation rate on GDP whereas a nominal GDP values does not. For this reason, figures that are related to real G DP is considered as a more accurate economic indicator as compared to the nominal GDP values. In line with this, the GDP’s real growth rate in India (5.4% in 2012) is much higher as compared to the GDP’s real growth rate in Russia (3.6% in 2012)10, 11 (CIA, 2013a, b). Gross Domestic Product (GDP) 2012 2011 2010 Russia $2.509 trillion $2.422 trillion $2.322 trillion India $4.735 trillion $4.492 trillion $ 4.205 trillion Source: CIA, 2013a, b GDP – Real Growth Rate 2012 2011 2010 Russia 3.6% 4.3% 4.3% India 5.4% 6.8% 10.1% Source: CIA, 2013a, b The per capita real GDP is part of the macroeconomic indicator that focuses on dividing the real GDP with the number of population in each country12 (Boyes and Melvin, 2013, p. 359). As of 2013, the total population in Russia is only 141.44 million as compared to... This paper is the best example of comparison of economic development of India and Russia in terms of economic growth during 2010-2012 Key economic indicators are commonly used to determine the overall economic performance of a country. Using marcro-economic indicators such as unemployment rate, inflation rate, and balance of payment among others, it is possible to detect whether or not there is an economic growth in each country. Economic growth is defined as the increase in production of goods and services that occurs over long periods of time This report is composed of two major parts. The firts part will focus on applying and discussing the significance of macro-economic indicators such as unemployment rate, inflation rate, balance of payment, exchange rate, and growth indicators like gross domestic product (GDP) in the case of Russia and India. The second part focus on discussing the domestic and foreign factors which triggers fluctuations in some of these economic indicators. Unemployment rate is defined as the number of unemployed people who want to have a job but do not have one Gross domestic product (GDP) is defined as the sum of market value of all final goods and services produced in a country during a specfic period of time, generally one year Inflation rate is defined as the percentage change in some measure of the price level from one period to the next the balance of payment is defined as the â€Å"statistical statement that systematically summarizes, for a specific period of time, the economic transactions of an economy with the rest of the world The research conducted clearly shows that Russia was benefiting from a good economic growth whereas India was experiencing a worst economic growth.

Exam_4 Essay Example | Topics and Well Written Essays - 1000 words

Exam_4 - Essay Example These components are applied in operational management allowing the management to access up-to-date data in real-time. Therefore, operational analytics offer an insight of the data within a data warehouse because it allows greater visibility of the various forms of data at a great speed (Turban, Sharda, Delen & King, 2010). OLAP (Online Analytic Processing) is the commonly used technique in data analysis employed within data warehouses driven by the increase in data volumes and the value of data-driven analytics in business. OLAP is also referred to as the capability to effectively manipulate and analyze data from various perspectives using its operational structure that relies in the concept known as cube. This concept has a multidimensional data structure that allows fast analysis of data because arrangement of data into cubes overcomes the limitations associated with relational databases (Turban, Sharda, Delen & King, 2010). KPI (Key Performance Indicator) represents a strategic objective and measures performance against a goal. KPIs are multidimensional and upon translation, this indicates that KPIs encompass various unique features. One of the distinguishing features includes strategy because KPIs embody a strategic objective. Moreover, KPIs measure performance against specific targets that are defined within the strategy, planning, or budget allowing the targets to take different forms like achievement targets, reduction targets and absolute targets among others. KPIs also have ranges because objectives have performance measures like above, on or below the target. Encoding in KPIs allow ranges to be encoded in software enabling the display of performance through colours like green, yellow and red based on percentages or other complex rules. Time frames in KPI mean that targets are assigned time frames within which they have to be accomplished; as well, the time frames are often divided into small int ervals to allow monitoring of performance