Business Statistics and Decision Making

This assignment provides a comprehensive overview of business statistics and decision making techniques. It covers various data analysis tools such as TPS (Transaction Processing System) and DSS (Decision Support System), which are essential for businesses to make informed decisions. The assignment also touches upon the importance of Net Present Value (NPV) and Internal Rate of Return (IRR) in selecting profitable projects. Additionally, it highlights the use of Multiple Attribute Decision Making (MADM) methods in business decision making.

Business Decision Making

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1.1 Create a plan for collecting primary and secondary data......................................................1
1.2 Survey Methodology and sampling frame use......................................................................2
1.3 Creation of questionnaire......................................................................................................4
TASK 2............................................................................................................................................6
2.1 Summarise the data collected from the survey.....................................................................6
2.2 Analysis of outcomes of the research and draw proper solution..........................................9
2.3 Evaluating the data as measure of dispersion.....................................................................10
2.4 Explanation about quartile, percentiles and correlation to draw appropriate solution........11
TASK 3..........................................................................................................................................12
3.1 Various charts and graphs are prepared on the collected data............................................12
3.2 Trend line analysis..............................................................................................................18
3.3 Poster...................................................................................................................................18
3.4 Formal report.......................................................................................................................18
TASK 4..........................................................................................................................................19
4.1 Roles and characteristics play by various information system...........................................19
4.2 Evaluation of critical path...................................................................................................20
4.3 Financial tools for decision-making....................................................................................21
CONCLUSION..............................................................................................................................22
REFERENCES..............................................................................................................................23

INTRODUCTION
Multichannel shopping can be understood as a marketing strategy through which
companies can offer its consumers with ample number of opportunities through which they can
buy products or uses services according to their needs. In today's business environment,
organisation makes plan to sustain at marketplace for a longer period of time. This action is
helping firms in building up their reputation in front of business society which can directly aid in
giving rivalry to their rivals (Groebner and et. al., 2011). Long term plans aid companies in
attaining a good position at market through which profitability and productivity can be enhanced
and maximise and in an appropriate sense. Funds estimation, planned budget and many more are
some major sources through which firm can hit its long term targets. This project is based on
Amazon which is delivering its services to consumers in all over world through using e-
commerce system. Report is enclosed with a plan in which data has been collected through using
different strategies and methodologies, questionnaire has also been developed, after that
interpretation of gathered information. After that, computation is being done that are related to
dispersion, percentiles, quartiles so that to pull up outcomes.
TASK 1
1.1 Create a plan for collecting primary and secondary data
Creation of a plan needs relevant data so that investigator can draw favourable outcomes.
It is required for companies to develop both long and short term plans so that to grab attention of
consumers and to attain all the goals and objectives that organisation carries so that to maximise
both profitability and productivity. It is being analysed that companies which are looking
forward to expand their business should keep on developing plans, execute and then monitor
them so that to grab good position at marketplace of United Kingdom in short period of time.
Under present report, investigator is looking forward to know all reasons that impacted on
consumers behaviours which are related to new and updated digital technology (Ferrell and
Fraedrich, 2015). Main motive researcher under this is to reduce all the negative impact of
technology and improve profitability of Amazon with the help of developing relationship with
customers so that they can stay connected for a longer period of time.
In context to this, it is being located that main there are two methods that can be used by
researcher in order to collect data which is related to people's perception, point of views of
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authors, scholars and many more. Two methods are: primary and secondary method which are
being described properly beneath:
Primary source: This sort of method can be stated as one of the most relevant one for
any investigation because under this researcher can directly ask questions from respondents in
order to draw or come to a conclusion. Gathered information through this method aid researcher
in pulling out relevant data in specific time of period. But, it has also been analysed that this sort
of method are contains ample number of problems like this sort of method takes time and money
which it might be possible an investigator cannot afford. This method contains things like
survey, online, questionnaire, face to face and many other approaches through which researcher
can gather information from different areas. All of them are described beneath:
 Survey: This sort of method includes face to face interaction that a researcher have with
respondents that he/she have selected where perceptions of them plays vital role (Ford
and Richardson, 2013).
 Questionnaire: Under this, Amazon's researcher can ask questions which is being
prepared by them to grab relevant data which may aid him/her in near future like in
decision making process and many more.
 Online: This method is mostly being utilised by investigator in modern world, because it
is much faster than a survey or a questionnaire along with this, it is also do not ask for
much cost because votes are being taken from respondents even when they are sitting at
their home.
Secondary source: Author's point of view is being stated as one of effective knowledge
that can help a researcher in grabbing good and authenticated information. This sort of data can
be collected from various mass media and some of these are: articles, newspapers, online sites,
search engines and many more (Vercellis, 2011).
1.2 Survey Methodology and sampling frame use
Surveys are being conducted by an organisation to use pull up relevant information so
that it can be analysed in order to draw conclusion and with the help of this, organisations can hit
its long term targets (Tufféry, 2011). It has been located that a survey is filled with information
which is being gathered from different point of views that people have and under this,
respondents can be selected through different methods like random sampling, purposive and
many more. Here, Amazon is doing business in almost all the countries where it is hard for
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investigator to select best approachable method through which data can be collected. Main aim
of Amazon under this assignment is to conduct a survey so that to look into different aspects,
perceptions of responders in order to draw conclusion which may aid them in looking to impact
of innovative technologies consumers behaviour. With the help of developing a survey
researcher or investigator can make decisions so that to improve profit margins of Amazon
through making modifications or adopting strategies if it is needed (Stine and Foster, 2014).
Survey methodologies: In order to get information which is related to existing
performances of business firm there are ample number of methods that can be used by
companies (Maxwell, Jeffrey and Lévesque, 2011). Under this case, investigation is being
conducted by investigator in the form of survey where researcher is looking into different aspects
and impact of innovate technologies behaviour of consumers after using e-commerce system.
Under this, Amazon's investigator has used primary method where questionnaire is being
prepared where 10 questions has been developed by investigator under the questionnaire.
Sample frame: It has been located that Amazon can use various methodologies in order
to select respondents from whole number of consumers that are present in all over world. Some
of method under this are: simple random, cluster, stratifies and many more which comes in two
sort of methods and these are: probability and non-probability sampling process (García-Peñalvo
and Conde, 2014). These methods differs from each other thus, it is vital for researcher to look
into different aspects and select the best suitable approach in order to pull out favourable
outcomes in specific period of time. 20 respondents have been selected in order to know about
their perceptions regarding impact of digital technology (Multichannel shopping) on human
behaviour where questions are going to be asked from individuals that have been selected.
On the other hand. basic subject that gets cover under the investigation (Survey) through
which questionnaire have been developed are given below:
 Values and technological innovation's importance
 Development of multichannel shopping
 Effect of technology on malls
 Change in behaviour of consumers after using new and updated technology
 Socio-economic effect
 Amazon's performance
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1.3 Creation of questionnaire
Questionnaire comes under primary method and can be understood as an effective tool
that can be used by researcher where information is being gathered through all the answers that
has been given by respondents which has been selected various sampling methods. Amazon is an
e-commerce firm that develops opportunities for consumers where they can look into various
products and select the best suitable one that will directly fulfil all needs and wants that they
have (Tzeng and Huang, 2011). Impact on behaviours of consumers after utilising online buying
selling online sites can be both positive or negative. Therefore, researcher has used questionnaire
method through which authentic information can be grabbed from respondents.
Kind of questionnaire: It is being located that there are two sort of questionnaire that
can be taken under in use by researcher. This includes various things like face to face interaction
that an investigator does with answering persons. Gathered data can be stated as information that
carries authentication in it (Yager and Kacprzyk, 2012). Then after that questionnaire which is
being developed contains questions and than after that it gets sent to selected respondent through
online on their maid id's or on personal address as well.
Importance of questionnaire
Questionnaire carries ample number of benefits that an investigator can have in case of
Amazon and these are:
 Performance can be analysed of Amazon.
 Innovation and motivation can take place.
 New and updated technology can be taken under in use.
Questionnaire
Name:
Age:
Gender:
Q1. Do innovation or digitalisation can affect high street shops and mall's business?
 Extremely impressive
 Moderate consequence
 Null property
Q2. Does implication of new and updated technology can put impact on working of
organisation?
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 Yes
 No
Q3. Do digitalisation can help consumers in saving their precious time?
 Agree
 Disagree
Q4. Which channel would you choose while doing shopping?
 Online
 Physical store
Q5. Can digital technology put any sort of impact on consumers life or behaviour?
 Prestigious and positive impact
 Average effects
 Null effects
Q6. Do you think that online market will take place of offline business concern in upcoming
future?
 Yes
 No
Q7. What are the items that can be mostly liked by you to purchase from online e-commerce
sites?
 Clothes
 Home appliances
 Electronic gadgets
Q8. Does e-commerce reduced profit margins of local business shops?
 Agree
 Disagree
Q9. Can digitalisation aid Amazon in gaining good market value?
 Yes
 No
Q10. Recommend in context of Amazon that how negative effects can be reduced to zero of
online technologies?
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TASK 2
2.1 Summarise the data collected from the survey
Q1. Do innovation or digitalisation can affect high street shops and mall's business?
Particular Respondent
Extremely
impressive 10
Moderate
consequence 5
Null
property 5
Total 20
Mean
6.66666666
67
Median 5
Mode 0
Q2. Does implication of new and updated technology can put impact on working of
organisation?
Particular Respondent
Yes 18
No 2
Total 20
Mean 10
Median 10
Mode 0
Q3. Do digitalisation can help consumers in saving their precious time?
Particular Respondent
Agree 15
6

Disagree 5
Total 20
Mean 10
Median 10
Mode 0
Q4. Which channel would you choose while doing shopping?
Particular Respondent
Online 12
Physical
store 8
Total 20
Mean 10
Median 10
Mode 4
Q5. Can digital technology put any sort of impact on consumers life or behaviour?
Particular Respondent
Prestigious
and positive
impact 10
Average
effects 8
Null effects 2
Total 20
Mean
6.66666666
67
7

Median 8
Mode 2
Q6. Do you think that online market will take place of offline business concern in upcoming
future?
Particular Respondent
Yes 13
No 7
Total 20
Mean 10
Median 10
Mode 6
Q7. What are the items that can be mostly liked by you to purchase from online e-commerce
sites?
Particular Respondent
Clothes 12
Home
appliances 5
Electronic
gadgets 3
Total 20
Mean
6.66666666
67
Median 5
Mode 2
Q8. Does e-commerce reduced profit margins of local business shops?
Particular Respondent
Agree 11
8

Disagree 9
Total 20
Mean 10
Median 10
Mode 2
Q9. Can digitalisation aid Amazon in gaining good market value?
Particular Respondent
Yes 14
No 6
Total 20
Mean 10
Median 10
Mode 2
2.2 Analysis of outcomes of the research and draw proper solution
Under this, involvement of computation stays of all the results (information) that has
been gained by researcher after conducting the investigation which was related to present topic
and that is effect of technology local shops and on malls. On the other hand, it has been located
that decision making process can be taken under in use. Analysation of data is being done
through taking under in use of mean, median and mode. It has been located that these are the
methods which may aid in evaluating all results right on time. Investigation takes under in use
various sampling methods (Solomon, 2014). Here in context to present scenario, questionnaire
approach has been used by investigator where analysation of gathered information is being done
and computation of mean, mode and median is being given beneath:
Number of
respondents
Rank given by Respondents (out of
5)
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1 4
2 3
3 2
4 1
5 2
6 3
7 4
8 1
9 2
10 3
11 5
12 1
13 3
14 4
15 3
16 3
17 1
18 2
19 5
20 1
Mean = 2.65
Median = 3
Mode = 0
Mean: This kind of technique is being expressed as estimation of normal of the
considerable number of segments of arrangement. This strategy is called as most straightforward
technique which helps in anticipating and examination of information.
Median: This strategy is helpful in estimation of center estimation of the parts of
arrangement. In computation of middle, the estimations of parts are separated into two segments
and the staying mid esteem is considered as middle. The benefit of figuring is that is contrasted
and mean with respect to translation of critical qualities.
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Mode: This aides in translation of the data and age of results which are more critical to
roll out improvements to accomplish most extreme advantages (Mean, Median, Mode and
Range, 2017).
2.3 Evaluating the data as measure of dispersion
Number of
respondents
Rank given by Respondents (out of
5)
1 4
2 3
3 2
4 1
5 2
6 3
7 4
8 1
9 2
10 3
11 5
12 1
13 3
14 4
15 3
16 3
17 1
18 2
19 5
20 1
Minimum 1
Maximum 5
Standard
deviation
1.30887657
74
Correlation
coefficient
-
0.01019541
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Range: It is successful technique which includes about correlation amongst most extreme
and least estimation of arrangement (Hwang and Masud, 2012). This strategy contributes with
respect to count of vital conclusion from the data which are give by respondents. The base scope
of arrangement is 1 and most extreme scope of arrangement is 4.
Standard deviation: It is successful technique which helps in computation of hazard
which related with the utilization of creative innovations. This strategy helps in understanding of
the data in regards to in feeling of dangers and benefits related with such utilization of advances.
The standard deviation figured by analyst based on positions of respondents is 1.0052493799.
2.4 Explanation about quartile, percentiles and correlation to draw appropriate solution
It has been located that there are various sort of central tendencies that can be taken under
in use by organisation when it comes to locate or to compute results in short period of time.
Some of them are; quartiles, percentiles and correlation coefficient method that can help
researcher in creating favourable outcomes. In context of Amazon, all of these tendencies are
mentioned beneath:
Quartiles: This sort of tendency incorporates about division of business into various
parts which helps in enhancing the execution of each section. By and large quartile are of three
kinds (Bayne and Woolcock, 2011). Right off the bat, upper quartile comes which conceal to
75%. Besides, bring down quartile comes which conceals to 25%. In last, entomb quartile is
come which conceals to half. The choice is just taken if the information is separates upper to
bring down quartile. In the event that the outcomes and information surpass such breaking point,
considered as not ideal.
Percentiles: This sort of method is being utilised by business organisations and values
that comes under in form of percentages. In addition to this, calculation per centum which comes
under numbers. Effective determinations that are related to business concerns of a firm can be
covered in percentile form.
Correlation coefficient: It is one sort of tendency which gives opportunity to researcher
to pull comparison of two or more variables in order to analyse the information which is being
gathered and through this decisions are being made (Schmoldt and et. al., 2013).
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TASK 3
3.1 Various charts and graphs are prepared on the collected data
Do innovation or digitalisation can affect high street shops and mall's business?
Highly affected Average effect No effect
0
2
4
6
8
10
12
10
5 5 Column B
Does implication of new and updated technology can put impact on working of organisation?
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2
Yes
No
Do digitalisation can help consumers in saving their precious time?
13

15
5
Agree
Disagree
Which channel would you choose while doing shopping?
Online Offline
0
2
4
6
8
10
12
14
12
8
Column B
Can digital technology put any sort of impact on consumers life or behaviour?
14

Highly influential Moderate No effect
0
2
4
6
8
10
12
10
8
2
Column B
Do you think that online market will take place of offline business concern in upcoming
future?
15

13
7
Yes
No
What are the items that can be mostly liked by you to purchase from online e-commerce sites?
12
5
3
Clothes
Home accessories
Electronic products
Does e-commerce reduced profit margins of local business shops?
16

Agree Disagree
0
2
4
6
8
10
12 11
9
Column B
Can digitalisation aid Amazon in gaining good market value?
Yes No
0
2
4
6
8
10
12
14
16
14
6
Column B
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3.2 Trend line analysis
It has been located that trend lines are being drawn on both advanced and debased
manner so that to pull up ways of building up profitability of an organisation. Along with this, it
has been located that research can easily be interpreted and then researcher can come to a
conclusion in specific time of period. In context of Amazon, if managers and leader of this
organisation are looking forward to get their previous performances in front and to know about
impact of digitalisation this sort of tools plays vital role. With the help of this, future decisions
can easily be made (Yu, 2013).
Preceding graph which is of Trend line it has been analysed that Amazon has made good
growth in some previous years. Thus, this sort of technology may aid in attaining goals and
objectives in much effective and in appropriate manner.
3.3 Poster
Covered in PPT
3.4 Formal report
To
Real Time Magazine
Date: 2nd June, 2018
Subject: Innovative technology and its impact on street shops and malls
Introduction
Amazon, is being stated as one of famous organisation that is doing business in all over world.
They have taken under in use of e- commerce in an appropriate sense. But, it is must for them to
look into all the problems and other things that can be faced by consumers and now it is must
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for them to look into different aspects so that to gain competitive advantages.
Methodologies
There are ample number of methods that can be taken under in use by researcher in order to
gather information in specific time of period. Along with this, it is required for investigator to
look and select best approach right on time.
Findings
Through use of online shopping consumers can grab ample number of opportunities like, time
can be saved, convenient, cost efficient and many more.
Recommendations
It is essential for all e-commerce business sites to use effective approaches that are related to
technology so that to sustain at marketplace for a longer period of time. Consumers needs gets
changes on a regular basis. Therefore, it is very much required fir them to look into their
requirements and then make modifications in products and services in effective manner.
TASK 4
4.1 Roles and characteristics play by various information system
It has been located that data processing tool can be taken under in use by researcher to
gather information in short period of time. TPS, DSS and MIS are being considered as some sort
of essential tool which may aid investigators in gaining good knowledge in effective manner.
These are mentioned beneath in a brief manner:
 TPS: This can be understood as a good method that can help a researcher in pulling out
all the information in short period of time through various functions in a systematic way.
 DSS: This sort of systematic tool aid researcher in developing essential activities from
strategic to working planes (Zolfani and et. al., 2013).
 MIS: Manager of an organisation can use this sort of tools where all the computations,
performance level and other things stays under a computer which pulls up ratios and
other things in short period of time.
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4.2 Evaluation of critical path
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Path A: 1,4,6,10= 8+6+1= 15 Days
Path b: 1,5,7,10= 8+4+4+1=17 days
Path c: 1,5,8=8+4+6=18 days
Path d: 2,4,6,10= 2+6+3+1=12 days
Path e: 3,6,10=2+3+1=6 days
From above given path, it has been found that Amazon needs to develop a befitting plan
through which targets can get attained in much effective and efficient timely manner. They can
use path which is taking less time and along with is not asking for much money to imply, as this
can raise expenses of company.
4.3 Financial tools for decision-making
Year
Cashflo
ws
P.V@10
% Present value
0 -15000 1 -15000
1 8000 0.909091 7272.727273
2 10000 0.826446 8264.46281
3 5000 0.751315 3756.574005
4 5000 0.683013 3415.067277
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total pv 22708.83136
NPV 7708.831364
IRR 23%
 NPV: This is being computed through pulling out net present value of cash inflow from
present value of cash outflow. In context to this, calculation was given as NPV =
7708.831364.
 IRR: It is that point where NPV stays Zero. IRR in current context is 23%.
CONCLUSION
From above mentioned assignment it is being summarised that conducting research plays
vital role in context of every single organisation when they are looking forward to expand their
business firms. Data can be collected from many ways where secondary and primary method are
primarily taken under in use. Along with this, there are various sort of elements that consist with
formulas which are dispersion, mean, median and mode. Away with this, information analysing
tool like TPS, DSS can be taken under in use by investigator in order to pull out relevant data in
specific time of period. On the other hand, NPV and IRR plays an important role regarding
selection of profitable project which provides large return.
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