Role of Data and Information in the Retail Industry - A Case Study of Asda

AS AN ORGANISATION I
CHOOSE ASDA UK

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
Role of data and information within industry..............................................................................3
Data type collected and used by Asda.........................................................................................4
Ways of Asda to use information and data within the day to operations....................................5
Ways to capture and store information........................................................................................5
Data is used for business decision making..................................................................................6
Primary and secondary research role on MIS (Management Information System)....................7
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8
APPENDIX......................................................................................................................................9
Group log.....................................................................................................................................9

INTRODUCTION
Information and data of market situations always plays an effective role to an
organisation in market place. No venture can achieve high market share in this dynamic and
modern world without having proper information and data. This report discusses impact of
information and data on Asda (HAO, 2018). The Asda is one of the leading retail business of the
United Kingdom, headquartered in West Yorkshire, England. Basically, this company is
subsidiary of international retail giant Walmart. Currently the company has very large customer
base in the UK. This report discusses role of data and information in the retail industry. Different
types of data, ways of data using, market research methodologies etc. factors also have been
covered in this report.
MAIN BODY
Role of data and information within industry
There are different data and information plays an effective as well very important role to
different businesses of retail industry. In this dynamic and modern world, upper management of
Asda also knows the role of data and information, because these aspects provide a specific base
to the company for making different productive business strategies. Basically, Asda like to
collect data of its competitors, because existing competition within the UK’s retail industry is
very higher, and that’s why upper management of Asda always tries to have lots of knowledge,
data and information about its various present competitors for making business strategies
accordingly. Basically, data and information of different market situations enables to a company
of retail industry for gaining huge competitive advantage in market place (Chu, 2016). For
example; upper management of Asda has information that its one key competitor named; Tesco
uses value-based pricing strategy for charging amount from customers on products on the basis
of the value of products. In this situation, this information will motivate to Asda for adopting
competitive-based pricing strategy for selling own retail products and services on something
cheaper and favourable prices than Tesco. Generally, lower, cheaper and favourable prices
attract maximum customers in market place and that’s why this is very important to the company
to have proper information and data about market situations.

On the other side, data and information plays an effective role in developing different
productive business strategies as well. For example; currently data says, there are maximum
people in across the United Kingdom uses different social media platforms, like; Facebook, Snap
Chat, Instagram and Twitter. In this situation, data relating social media is enough to motivate
company’s upper management for running its different marketing campaigns on social media
platform. Generally, when many of people see different advertisement of Asda on various social
media platform, then this action of company can play an excellent role in attracting maximum
customers towards own brand in mark place (Singhal, Damiano and Sabik, 2017). This is the
main reason that data and information plays an excellent role to Asda in the UK’s retail industry,
in which R&D (Research and Development) department of company should be more active in its
daily operations for gaining different necessary data and information to company, because these
enables to effectively grow in market place.
Data type collected and used by Asda
Basically, Asda’s upper management considers two types of data, named primary data
and secondary. In this situation, the primary data is used by company for knowing customer
buying behaviour, and secondary data is used by Asda for analysing competition of market and
for knowing opportunities to gain huge competitive advantage in market place. Knowing buying
behaviour of customers is really a necessary task to company, because after having knowledge
and information about behaviours of customers, the venture will enable to produce or develop its
products and services on the basis of needs and wants of customers. According to different
business experts, buying behaviour of customers helps to a company for knowing customers’
actual needs, wants and demands of market place. In this situation, after having information of
what types of products and services are demanding by customers in market place, then Asda will
be able to produce accordingly (Zhang and et.al., 2019). Data and information relating to
consumer behaviour has helped to company for knowing customers’ attitude and interest as well,
which is really perfect factor to Asda in order to provide maximum satisfaction and great
experience to all customers in market place.
On the other side, there secondary data of competition analysis also plays a very effective
role to company. Basically, collecting data relating to existing market competition, the R&D
department at Asda conducts method of secondary data collection, because this method enables