Business Decision Making

Business Decision Making

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................4
1.1 Planning for collecting data..................................................................................................4
1.2 Survey methodology and sample framing.............................................................................6
1.3 Questionnaire for collecting data..........................................................................................7
TASK 2............................................................................................................................................8
2.1 & 2.2 Data analysis by using different tools and techniques and their interpretation..........8
2.3 Analysis of data by using the measures of dispersion...........................................................9
2.4 Explanation of quartile, percentile and coefficient correlation.............................................9
TASK 3..........................................................................................................................................11
3.1 Graph...................................................................................................................................11
3.2 Trend line............................................................................................................................11
3.3 To be covered in Power Point Presentation........................................................................12
3.4 Formal Report.....................................................................................................................12
TASK 4..........................................................................................................................................13
4.1 Use of software while making any decisions......................................................................13
4.2 Project plan and framing or critical path.............................................................................14
4.3 Financial tools for decision making....................................................................................16
CONCLUSION..............................................................................................................................17
REFERENCES..............................................................................................................................18

INTRODUCTION
Each and every company have to make appropriate decision so that they can attain the
success in the competitive market. A decision refers to the different course of action which
having a different purpose and on the basis of that they have to set the alternatives so that they
can manage all the organisational activities which helps in attaining the goals and objectives.
They have to reap the targets and ion the basis of that they have to make appropriate and relevant
decisions and according to that they have to earn best outcomes. In the growth of the firms,
decisions play a important role (Ford, and Richardson,2013). Along with this, successful firms in
the industry have to make relevant decisions so that they can reap the long term goals. The
present report is based on UK college of business along with the computing. In every college,
documents of the students should be needed so that they can get all the information about
students and get satisfied. In the below mentioned report, the employees have to do proper
evaluation by using primary and secondary data. To reap the good results, data collection process
needs to be done so that they can attain success.
TASK 1
1.1 Planning for collecting data
There are different sources which assist in collecting the data along with the information
so that they can attain the goals and objectives. They have to make the survey and it is helpful to
them in accomplishing the best results.
Primary Data-Primary data is an first hand collected data. The information is collected
through first hand published data. The primary data is considerably collected for specific
research projects. It is basically collected to meet the requirements of the research reports.
Primary data can be collected through questionnaire, interviews, direct observations
(Zimmerman,and Yahya-Zadeh, 2011). Collection of primary data- There are some common
methods of collecting primary source data. The methods are:
Interviews: The interviews are the meeting of people face to face or through telephonic
calls or through video conferencing. The interviews are the structured state of questions asked by
the user to get to know their ability skills knowledge and the experience what they feel.
Questionnaire: Questionnaire are basically the set of questions (Frey,, Schulz-Hardt, and
Stahlberg, 2013). The information is collected through questionnaire by sending a set of

particular questions to the concerned person and in against requesting them to fill up and the
questionnaire and re send the mail. This is an cheap way of collecting data but as on the same
many people denied or not to feel to fill the questionnaire.
Observation Method: The observation method consist with the doing the observation to
the particular respondent. In the observation method the information is obtained by the
observation way. The investigator or the data collector observe the particular respondent or the
user and observe them. The direct observation on the working is observed. It is an free way of
collecting data without requiring the willingness of the user . Observation is considered as an
expensive method of collecting data and also considers as a time consuming method also
(Gigerenzer, and Gaissmaier,2011).
Scheduled Method: The scheduled methods are slightly similar to the questionnaire
method the basically difference between the both is the scheduled method are the particular set
of questions scheduled to ask from a particular set of people .questions are asked to only the
special assigned people in schedule method. This helps in removing the barriers and
misunderstanding which user feels for the particular questions.
Secondary Data- Secondary data are the second hand collected data. The information is
not directly collected by the user the information is through someone other than the particular
user. The secondary data is the second hand data that is already collected and available from the
other sources. The information is available in other sources of information (Lunenburg, 2011).
The secondary data is easily available information and it is an cheaper source of information.
The secondary data is an time consuming method. The secondary data is collected through the
magazines, newspaper,libraries,internet. The secondary data is collected in both quantitative and
qualitative terms in collecting data. The quantitative data consists surveys, financial statements,
statistics. The qualitative data consists through newspaper, dairies, transcripts. The secondary
data can be collected through internal and external to the organisation by the researcher.
The internal sources of collecting data are:
 Sales Reports; The sales reports are the reports detailing about the products sold within a
particular year (Wu, and Pagell 2011).
 Financial Statements : The financial Statements are the formal records collected to record
the financial activates of an businesses activities and for knowing the financial position of
the business.