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Advantages and Disadvantages of Primary and Secondary Data

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Added on  2021-02-19

Advantages and Disadvantages of Primary and Secondary Data

   Added on 2021-02-19

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Business Analysis
Advantages and Disadvantages of Primary and Secondary Data_1
Table of ContentsINTRODUCTION...........................................................................................................................1QUESTION 1...................................................................................................................................1Population...................................................................................................................................1Sampling Techniques:.................................................................................................................2QUESTION 2...................................................................................................................................4Difference in Between Primary and Secondary Data.................................................................4Advantages and Disadvantages of Primary and Secondary Data...............................................5QUESTION 3...................................................................................................................................7Mean, Mode, Standard Deviation...............................................................................................7QUESTION 4...................................................................................................................................8Effective MIS as an Important Part of Process of an Organisation............................................8CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11
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INTRODUCTIONBusiness Analysis can be defined as the set of tasks, knowledge and various techniquesthat can be used to identify the business needs and determining solutions to the problems facedby the business (WHAT IS BUSINESS ANALYSIS?, 2019). The problems impacts upon theworking of an organisation and also on the profitability level (Torabi, Soufi and Sahebjamnia,2014). Not only the working and profitability is the main concern but there are also some otheraspects on which the business problems impact upon. The assignment will start with making itsfocus on the importance of population and sampling techniques which an organisation makes useof at the time of conducting surveys and some more works. In addition to this, the focus of thisassignment will also be on the primary and secondary data. The differences in between both ofthese two concepts will be discussed and also the discussion of the advantages and disadvantagesof primary and secondary data will be provided. It will focus on calculating the mean, mode andstandard deviation along with making decisions related to effective management system thathelps an organisation's success and failure. The company chosen for the completion of thisassignment is Kingfisher Plc which was founded in the year 1982 and is headquartered inLondon. The company provides their customers with home improvement products and gardensupplies and plants.QUESTION 1PopulationKingfisher Plc is an organisation which provides their customers with home improvementproducts such as the home appliances and many other products for providing good experiences tothe customers with the help of services. Kingfisher is going to introduce a holiday pay scheme intheir organisation under which the employees will be provided with holidays and also they willreceive compensation in the form of their monthly and daily wages without any deduction to bemade in their salary or wages for the time period they are taking the holidays (Storey, 2016).This policy is being implemented in the organisation but with the consent of employees and forthis purpose Kingfisher is conducting a survey in their office that will provide them with theconsent of employees to implement this policy in their working or not (Paul, Yeates and Cadle,2014). On the very basis and the above provided scenario, the significances of Population andSampling Techniques are presented as under:1
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PopulationIt can be defined as the people covering area in the process of conducting the survey. Inother words, it can be said that people from a large area is selected for conducting the survey atany place which is considered as population for the surveys. On the basis of this survey inKingfisher the decision related to the implementation of the policy or not will be decided.Looking upon this condition population is considered as the most important at the time ofconducting surveys as the employees will decide about the implementation of the decision or not.With the help of answers provided by the population it will be possible for the organisation toreach to the conclusion whether the decision will be in or against the provided situation. Sopopulation is very important at the time of conducting the surveys. For example, in knowing about the population to be targeted for a particular survey, theuse of Target Population Analysis can be done with the help of which it will be easy to define thetarget population of an advertising campaign, academic study or governmental service.Population covers a vast area but in the surveys population is the collection of those people whohave knowledge and their consent is important and will make some sense in helping the surveyto reach conclusion (Quinlan and et. al., 2019). For example, in case the organisation isconducting a survey related to implementation of new working style for which it is conductingsurvey to know how much employees are ready and how much not. Here, the correct populationthat will be used for this survey is the office employees who have to work in the organisation andwith the new working style. So choosing employees as the population will make sense, other willnot. Sampling Techniques:Sampling can be defined as the way with the help of which observations are selectedfrom a population to be in the sample for conducting the survey. There are many techniques forcollecting samples for the completion of survey but the mostly used sampling techniques areProbabilistic and Non Probabilistic Sampling (Park and et. al., 2014). In the ProbabilisticSampling Method, there are chances of selection of each individual in the population and in caseof Non Probabilistic Sampling, there is no estimation and surety of getting selected in thepopulation used in the survey. It is because this method removes the chance of biasness to muchextent as no one has the information about being selected in the survey. So not only in this way,2
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