INTRODUCTION

In order to make good decisions in business, the use of information should be effective.  In business decision making an insight is given into the various sources of data collection both primary and secondary that can be used.  It also enables one to develop techniques that can be used in relation to the collecting of data, how to store it and the effective tools that is available to create and make your work presentable. Business decision making also encourages the use of different software packages like Microsoft word, Power Point and Excel to complete given tasks.  In this report I will be using different methods to analyze data and present results.  Through this unit I have gained a lot of knowledge in ICT and have developed an appreciation for it.  Information systems in this topic are used in organizations at all levels to help in decision making.

This has provided opportunities to develop different techniques into the gathering, storing and understanding of tools readily available to me for the creating and presenting of useful information to support business decision making/so business decisions can be made.

The aims and objectives of this report is provide an understanding of a variety of sources for collecting primary and secondary data, using a range of techniques to analyze data effectively for the purposes of businesses, producing information in different formats that are appropriate for decision making in context to organizations.  For this report software generated information is also used for decision making in organizations and the factors impacting decision making in groups or individually.

Scenario

As part of the management team of Marks and Spencer, which is a High Street Retailer in the UK, you have been tasked by this reputable retailer, to assist them in making strategic decisions to improve upon their revenues for the food section of their business activities, where sales have fallen drastically. To achieve this role assigned to you, you have been asked to use the following tasks (1-4) to accomplish the making of strategic and tactical decisions for the entire organisation as a whole to overturn their misfortunes in the food section.

TASK 1: BE ABLE TO USE A VARIETY OF SOURCES FOR THE COLLECTION OF DATA, BOTH PRIMARY AND SECONDARY

1. .Create a plan for the collection of primary and secondary data regarding how sales can be improved in the food sections of the business

A brief introduction on the importance of decision making for  M&S food) to improve sales

M&S warned that all its planned changes to the business – from cutting prices to improving staffing levels – will impact on its profitability in the short term. Yet Rowe believes profitability should not be the focus now.

“Our priorities are the customer and brand and how we are going to recover clothing and home and continue to grow the food business. That involves improving our net promoter scores, evaluating reviews online and look at fit and quality online.” says Marks & Spencer boss Steve Rowe.

M&S is planning more IT investments as it looks to continue building on its website and will spend more improving the in-store experience by upgrading cafés or introducing new concepts such as coffee-to-go.

They will also reinstate staffing levels, admitting the brand has previously “cut back a little too far” in certain areas.

What aims and objectives of your research?

Create a plan for the collection of primary and secondary data regarding how sales can be improved in the food sections of Marks and Spencer.

To accomplish the making of strategic and tactical decisions for Marks and Spencer as a whole to overturn their misfortunes in the food section.

What is the Purpose of your research?

I made a report for Marks and Spencer, which is a High Street Retailer in the UK, recommended methods for the collection of data to improve upon their revenues for the food section of their business activities, where sales have fallen drastically.

What is primary and secondary research?

Primary data which is the information received directly from the source.  It is data collected specifically for a particular purpose for example – information provided from questionnaires or one-to-one interviews.

Secondary data are ones that have already been collected by other people for example information available in journals, websites.

Explain how primary and secondary data’s can be collected for your purpose 

Data collection is anything that conveys a meaning.  This means that when data is coded it gives information and when used it gives knowledge.

Data can be collected in two ways:

Primary data sources occur when the expert himself or herself has gathered the information, not somebody else and it is also original information. This data can be quantitative or qualitative, and it could be expensive to collect. Primary data is collected by using diverse methods which are interview, survey or sampling, and monitoring their behavior.

The primary data research for this study will reveal customer’s preferences for home furniture.

Secondary data are data that have been collected somewhere else. Secondary data are crucial for the organizational research being the information gathered by somebody other than the specialist leading the present study. Examples of secondary data collection are census data, case studies, books, etc. This type of data is low-cost compared to primary data.

For this survey secondary data can be collected on the number of how many customers are in on a daily basis, number of staff, past sales records etc.

For my data collection I will be considering both quantitative information and qualitative data as this will enable me to collect numerical and descriptive data.

2.           Here, you will present the survey methodology and sampling frame used (Please be reflective in your explanation)

What are the survey and sample methods that you will be using to collect data?

Surveys are suitable to collect data on phenomena that cannot be perceived directly. In a survey, scientists sample a population. If the population is large researchers directly question only a sample (a small proportion of the population) to save time, price and other resources.

Surveys are a valued and instructive operational management tool which can be used to collect precise likes, dislikes and other data to help with key decisions. Communities use surveys to collect quantitative data for a diversity of purposes such as customer satisfaction, new service introduction, customer attitudes and perceptions, measuring pricing changes, and bundling services. In addition, several surveys can be conducted over a period of time to benchmark results, providing valuable trend data.

In statistics, a sampling frame is the source list from which a sample is drawn. It includes all those within a population who can be sampled, and may include individuals, households or institutions.