Business Decision Making

This presentation discusses the importance of data collection and interpretation in decision making for businesses. It covers primary and secondary data collection, analysis, key findings, recommendations, and conclusion. The presentation emphasizes the need for qualitative and quantitative methods to gain an overall view of the market.

BUSINESS DECISION
MAKING

Content
• Introduction
• Primary data collection
• Primary data Analysis
• Secondary data collection
• Analysis of secondary data
• Key findings
• Recommendations
• Conclusion
• References

Introduction
In the contemporary world where the competition among businesses is increasing, the
importance of data collection and its interpretation so that effective results can be found
that can help in decision making have also become important. In order to efficiently
compete in martlet and to sustain in the competitive market it is important that data is
collected using qualitative and quantitative methods so that an overall view of market can
be gained.

Primary data collection
When data is collected for the first time by researcher directly from
sources by the way of questionnaires, surveys, interviews etc. so
that fresh data can be gathered that can help in making correct
interpretations and evaluations.

Analysis of primary data
After gathering data from 30 customers of Lidl; following results can be
found which can be interpreted and analysed in such a manner that
effective decisions can be made by Essential Ltd. Thus, it is essential for
researcher to gather relevant and accurate data as it directs them to make
valid conclusion at the end of research.

Q1) Which age group of people do the most
purchasing from Lidl?

Q2) Which gender group of people shop more
at Lidl?

Q3) What is the educational level of its
customers?

Q4) How much does the customers spend in
their one purchase?

Secondary data collection
Secondary data is collected from sources which already contain
information about certain topic from the view point of other authors
and researchers. This data can be collected from books, newspapers,
internet etc.

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A comparison of Lidl with its competitors
present in the market
Basis Lidl Tesco Sainsbury Asda Morrisons
Market
share
5.9% 28.4% 15.3% 15.4% 10.14%
Revenue £474.5
million
£63,911
million
£29.007 billi
on
£21,666
million
£
17,735 milli
on
Operating
profit
£1.9 million £2.21 billion £239 million £803.2
million
£
348.00millio
n
Gross profit
margin
4% 5.2% 6.29% 5% 3.88%

Analysis of secondary data
From the data collected above it can be said that Lidl which a a
discount supermarket and has its branches in many countries is able
to increase its sales as the company can attract a large number of
customers by the way of heavy discounts that are offered on its
products.

Key findings
• The company offer its customers products as per their tastes and
preferences so that high vale can be created for them.
• They give heavy and frequent discounts on the products offered by
them and also sell the products at comparatively low prices which
help in gaining the attention of a large number of customers.

Recommendations
• Essential Ltd must locate its stores at places that are near to a large
number of target customers which requires the application of
marketing strategy in an efficiently manner so that target customers
can be known and it can position its products in markets.
• It is important that the company increase the use of online
application so that all the age group of people can be captured and
the convenience of shopping can increase for the company.

Conclusion
From this PPT it can be concluded that market research play an
important role in gathering information about the competitors of
business that are present in market so that effective strategies can be
formulated that can help in dealing with them. also it help in
analysing the influence of competitors in market so that better
strategies can be formed to attract more number of customers.

References
Linder, M. and Williander, M., 2017. Circular business model innovation: inherent
uncertainties. Business strategy and the environment, 26(2), pp.182-196.
Eisenberg, M.A., 2017. Legal models of management structure in the modern corporation:
Officers, directors, and accountants. In Corporate Governance (pp. 103-167). Gower.
Lytras, M.D., Raghavan, V. and Damiani, E., 2017. Big data and data analytics research:
From metaphors to value space for collective wisdom in human decision making and
smart machines. International Journal on Semantic Web and Information Systems
(IJSWIS), 13(1), pp.1-10.

Thank You