Business Intelligence: Data Mining and Decision Making

This assignment focuses on harnessing the power of business intelligence through data mining for informed decision-making. You'll delve into naturalistic decision making (NDM), explore early-stage investment decisions with business angels, and evaluate the hypocrisy-sincerity continuum in corporate communication. Additionally, you will apply a new hybrid MCDM model to locate shopping malls and balance priorities in sustainable supply chain management. Familiarize yourself with the internal rate of return (IRR) for financial analysis.

BUSINESS DECISION
MAKING

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1.1 Plan for collection of primary and secondary data................................................................1
1.2 Survey methodologies used under this project......................................................................3
1.3 Question designing................................................................................................................4
2.1 Survey from collected information.......................................................................................6
2.2 Data analysis.........................................................................................................................8
2.3 Data collected at various range with standard deviation......................................................8
2.4 Advantages of quartile, percentile and correlation coefficient.............................................9
TASK 2..........................................................................................................................................10
3.1 Representation of data through various chart and graphs...................................................10
3.2 Trend line............................................................................................................................11
3.3 Covered in PPT...................................................................................................................12
3.4 A formal report presentation...............................................................................................12
TASK 3..........................................................................................................................................13
4.1 Procedures that are used to present project plan.................................................................13
4.2 Presentation of network diagram........................................................................................13
4.3 Investment appraisal............................................................................................................14
CONCLUSION..............................................................................................................................15
REFERENCES..............................................................................................................................16

INTRODUCTION
In order to manage the business in most appropriate manner there are various decision
that have to be taken. Decision regarding various operation and functional department of the
company is useful to increase productivity and performance in coming time. The main objective
of any business concern is to make maximum profit with minimum cost. To make decision more
accurate and correct various research planning is to be done. That will have both direct or
indirect impact on the performance of an organisation (Groebner and et. al., 2011). To make
proper plan and strategies the researcher need to analyse best alternative to get success.
Under this project a proper research is being conducted on Balti palace restaurant to
know about customer satisfaction regarding services offered to them. There are two of the main
source of data collection is being used to collect information. Different sampling framework is
being also used and on the basis of questionnaire various data analysis is done. To know the
impact on research several graphs and charts are drawn and at last various decision making tool
are used in this project. Network diagram is being presented on assumption basis to know about
best possible path and financial tools used in deicide making.
TASK 1
1.1 Plan for collection of primary and secondary data.
In the way of data collection there are various aspects to be considered those based on
customer reviews and there attitude toward services and quality of hospital provided by Balti
palace restaurant to there customers. It will be the great challenge for researchers to know their
views by conduction a survey that consist of different questions that would help to know the
impact of research and analysis of desire outcome that are generated after completion of research
work.
There are two sources which help researchers to collect information like primary and
secondary (Vercellis, 2011). In primary sources data can be collected from asking questions, face
to face interviews and through personal observation. Likewise, other data like numerical and
arithmetical information are being gathered from secondary sources. Under this research work
data is being collected by filling questionnaires form through numerous customers those are
visiting to Balti palace restaurant on regular as well as frequently. The sources used like phone
call, messages and group interviews and filling questionnaire.
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The locations of Balti palace restaurant that are covered under this research process are:
 Womb-well
 Denby
 Barnsley
 Wolverhampton
Above location are covered for data collection about Balti palace service and there management.
The research work is carried for more than 5 weeks from different areas in which this restaurant
is located (Zsambok, 2014). In order to get desire outcome and response from several customers
regarding their choice of food and services offered by restaurant are well planned and
appropriate manner.
For conducting any research project a huge capital is required to do so. Because it is the
most important aspect for business to fulfil the requirement of the cash in research. Under this
project at least 2000 is the minimum cost and maximum of 6000 pounds are required. These are
those cost which are needed to hire skilled and knowledges people for this research that they
require at the time of visit to other areas of Balti palace restaurant. So researcher need to kept
this things in mind that shortage of cash would lead to work failure.
Different methods of data collection are used under this research which includes
interviews and questionnaire those are based on maintaining of records and document analysis.
Sampling framework is the most important techniques used under the research that is used to
collect information after choosing best samples that provide information from selected groups.
Under this project small group are created to get more positive results. Random sampling is
being used to identified that desire outcome from this research. A sample size of more than 100
are taken to collect information.
Qualitative techniques of data collection is being used in this project research through
personal interviews and different forms of questionnaires are use as basic tool to collect data
from selected groups of customers (Maxwell, Jeffrey and Lévesque, 2011). Both sources like
primary and secondary data are being used to prepares a data plan. Because from primary source
researchers would collect first and fresh data from respondent and secondary data can used from
past available data.
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1.2 Survey methodologies used under this project
It has been seen that to identified best possible outcome research is said to be the most
crucial aspect of any business. Research is a systematic way of data collection and support
curiosity. It provide information and theories for explanation of the nature and related aspect of
world (Woiceshyn, 2011). To identified several specific characteristic of research by evaluating
narrow type questions and numerical data to identified its importance in coming time. Survey
methodologies are used as most important aspect of any business decision-making because it
provide a complete image of results those are gathered from research work. It said to be the
combination of both practical and theoretical analysis of information those are connected with
the study are being covered under this research. Types of research use are:
 Descriptive research: It refer to be the facts and figures that are collected from various
customers which are selected for research. It highlight specific characteristic of a chosen
group that are involve under this project.
 Qualitative research: Those research which are used in order to analyse in-depth study
of issues and problems that are arises under research work. So proper quality of methods
are being chosen in order to get best quality of work done from the selected group of
customers.
Under this project two of the most important techniques used such as:
Organizing interviews session:
 Face to face interviews: It is done with interaction among customers those are coming to
taken services of Balti palace. Under this session various questions regarding their
personal experiences and satisfaction with the restaurant in coming year time.
 Focused group interviews: For conducting superior quality of research a small division
of group are formed and researchers in order to go one by one common views and
feedbacks are collected from each groups.
Other part of research is questionnaire which is said to be a complete set of multiple
choice option question provide to customer (García, Peñalvo and Conde, 2014). In consist of
various aspect of restaurant facilities that included food, atmosphere and other part of services.
The sampling framework use under this research are :
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 Random sampling which is said to be a statistical data collected from various customers
in which each and every individual are arrange in sequences that have equal opportunities
of being selected.
 Cluster sampling: Under this sampling method customers are divided under small group
to get more appropriate results.
 Quota sampling: Representative data are gathered from those selected group of
customers. It is said to be opposite of random sampling that are chosen from those
selected groups (Aharoni, Tihanyi and Connelly, 2011).
From above mentioned sampling framework random and quota sampling are the best sampling
techniques use to get more accurate results.
1.3 Question designing
Questionnaire is a series of questions and other time saving objective of data collection
from various customers. They are always designed from numerical and statistical evaluation of
responses. Under this research close ended questions is being asked from various respondent by
providing number of option to a questions. There are different types of questions like:
 Dichotomous: under this types of questions respondents have only two options available.
 Nominal - polytomous: In this type of questions customers will have more than two
option.
The main objectives of research is to design questionnaire to customers in order to collected vital
information about their responses and experiences about Balti palace restaurant.
BALTI PALACE RESTAURANT
Personal Detail:........
Gender: Male[] Female []
Age: Below 18 [] 25-30 [] 30-40 []
Occupation: Student [] Professional [] Businessman [] Home-maker []
Q1. Have you ever been to Balti palace restaurant?
a) Yes
b) No
Q2: How did you got to know about this restaurant?
a) Internet
b) Friends
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c) Newspaper
Q3: Is price of multi-cuisine are under your budget?
a) Yes
b) No
Q4: What is best about attractive think of Balti palace?
a) Ambiance
b) Service
c) Cuisine
d) Other
Q5: How Good you rank operational management of Balti palace?
a) Good
b) Average
c) Neutral
Q6: Will you satisfied with the cuisine and hospitality of this restaurant?
a) Highly satisfied
b) satisfied
c) Not satisfied
Q7: Is restaurant is appropriate in delivering all seasonal food to its customers?
a) Yes
b) No
Q8: Would you like to add any other commits that would beneficial for the restaurant?
Ans:
…........................................................................................................................................................
..............
Q9: Is online booking facilities are available to Balti palace?
a) Yes
b) No
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Q10: How well you carry experiences that would gain after using services to Balti palace ?
a) Good
b) Average
Q11: Provide your valuable recommendation and reviews?
Ans:....................................................................................................................................................
.............................................................................................................
2.1 Survey from collected information
After completion of research work the next steps is to collect all the data and information
for analysis and interpretative if by using more relevant values. Best methodologies are being
used to find out actual outcome that are represented in percentage form that related to find out
valid conclusion from 100 number of respondents.
Total number of group divided out of 100 is 10.
Age group of 18 to 50 years
Gender: Male [70%] Female [30%]
Religion: Christian [30%] Indian [60%] Muslim [10%] Other
[0]
Q1. Have you ever been to Balti palace restaurant?
a) Yes [80%]
b) No [20%]
Q2: How did you got to know about this restaurant?
a) Internet [30%]
b) Friends [40%]
c) Newspaper [20%]
Q3: Is price of multi-cuisine are under your budget?
a) Yes [70%]
b) No [30%]
Q4: What is best about attractive think of Balti palace?
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a) Ambiance [20%]
b) Service [40%]
c) Cuisine [30%]
d) Other [10%]
Q5: How Good you rank operational management of Balti palace?
a) Good [60%]
b) Average [30%]
c) Neutral [10%]
Q6: Will you satisfied with the cuisine and hospitality of this restaurant?
a) Highly satisfied [70%]
b) satisfied [20%]
c) Not satisfied [10%]
Q7: Is restaurant is appropriate in delivering all seasonal food to its customers?
a) Yes [80%]
b) No [20%]
Q8: Would you like to add any other commits that would beneficial for the restaurant?
Ans:
…........................................................................................................................................................
..............
Q9: Is online booking facilities are available to Balti palace?
a) Yes [60%]
b) No [40%]
Q10: How well you carry experiences that would gain after using services to Balti palace ?
a) Good [70%]
b) Average [30%]
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Q11: Provide your valuable recommendation and reviews?
Ans:....................................................................................................................................................
.............................................................................................................
2.2 Data analysis
The next step after collection of data from various customers about their valuable
information that are provided regarding balti palace restaurant. It has been found that most
number of customers are very much satisfied with the service and quality of facilities provided
by the restaurant. On the basis of asked questions with different techniques of central tendency
its mean, median and mode is being calculated (Provost and Fawcett, 2013). The main part of
this project is that out of 100 most number of customers are provided positive responses. So it
means that restaurants are delivering the most appropriate services in terms of quality and other
sectors. The other aspects of restaurant is that outside customers are the main target of this
restaurant as they are delivering more superior quality of services to them by provided through
delicious food and entertainment facilities.
From the outcome it is drawn that more than 75% of the customers are highly in favour of the
restaurant and only 25% are not satisfied with services. The answer to various question are
fluctuating with the responses they are getting from home as well as outside customers. This can
be identifies through applying various methods in research to get more appropriate results and
create more valuable decision regarding success of an organisation. There was a huge limitation
to this research as it was only 100 number of respondent are available to this research. The
customer are use to prefer more internet facilities to book order and other things in a single day.
2.3 Data collected at various range with standard deviation
Weak
Number of
customers Satisfied customers
1st 16 13
2nd 20 18
3rd 15 12
4th 17 15
5th 14 10
Total 100 68
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Range
Minimum Range 10
Maximum Range 18
Standard deviation 3.0495901364
Range: It said to be the limit that specify the two segment of variable that is based on the
combination of minimum range and maximum range. Or in other words it has been said that the
highest and lowest value of digits those are drawn from data collected at various sources. Like in
above calculated data from 100 customers the minimum range is 10 customers those are in
favour of positive feedback and maximum of 18 customers are satisfied with the restaurant
services and other aspect of facilities offered to the customers. All the information is collected
with 5 week research work (Zolfani and et.al., 2013).
Measure of dispersion: It is said to be that extent by which a distribution is flexible. The
most of important part of measure of dispersion is the statistical dispersion that are incurred
through different variance, standard deviation and other quartile range. There are generally two
types of dispersion:
 Absolute: It provide and appropriate idea about the sum of dispersion that are based on a
complete set of observation. It is used to measure data which is already in original form.
 Relative: It refer to the numerator and denominator of the ratios that are having common
units. It is always said that if the dispersion is the standard deviation and average is the
mean then relative dispersion become coefficient of variation.
Standard deviation: It refer to be that part of dispersion those are collected from
provided information through customers review. It is mainly used to know about the chance of
risk associated with the research. Under the above mentioned data the standard deviation is 3
which means it is more valuable for the researchers as it provided more positive outcome from
the research conducted on the customer perception.
2.4 Advantages of quartile, percentile and correlation coefficient
Quartile: It refer to be that value which is divided as a list of number of units into
quarters. After that those list are put in a systematic order. Then it is divided into four equal
parts. The upper most quartile is said that Q3 which is the number divided as third and fourth
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quartile. The main advantages of quartile is that it shows as moderately series of data that enable
lower and upper quartile and mean deviation (Fassin and Buelens, 2011).
Percentile: It is that measurement which is used to indicate the value below which are
provided as percentage of measure under that categories which is fall under. Like for example
the 30th percentile is the value beneath which 30% of that particular observation. The big
advantages is that underlying assumptions are very clearly understood.
Coefficient correlation: It is a number that describe a type of correlation and state that
build relationship among two set of variables. It is identified through +1 and -1. If it comes to be
+1 the n it is accepted and if it goes below to it then not taken into consideration. The main
advantages of this to identified best possible relation among two variables.
TASK 2
3.1 Representation of data through various chart and graphs
Pie-charts: It is a circular representation of graphs which is divided into small segment
that contains various numerical proportion. The best possible length of each areas is decided by
value plotted in that particular segment. A pie chart is shows representation of data in the
proportion of 360 of its circle area. Through this particular chart various number of customer
satisfaction and their reviews are presented on to it (Wu and Pagell, 2011). The data carried by
this pie-charts is of 5 week that are collected from various location of restaurant.
10

16
20
15
17
14
100
1st
2nd
3rd
4th
5th
Total
From above drawn pie-charts it has clearly indicating that out of 100 customers various
68 of customer are provided their most valuable time and in favour of service that are being
delivered by Balti palace restaurant. The data was based on 5 week time of research. The most
number of customers are collected and in favour of customers are 20 that are collected in 2nd
week of research and so on. The least of respondent was 14 that are collected in last week of
research.
Bar chart: It is a diagram in which the statistical data of uncertain are pictured by the
height or length of bars are in presented in rectangular width. It is the group of data with
rectangular bars with lengths related to the values that they represented accordingly. It is said to
be that values which are represented though vertically and horizontal manner.
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1st
2nd
3rd
4th
5th
Total
0 20 40 60 80 100 120
16
20
15
17
14
100
13
18
12
15
10
68
From above bar chart it has been concluded that total number of respondent are 100 out
of which just 68 are in support of services and hospitality provided by restaurant to its customers.
It is the graphical representation of results those are collected from 5 week time. The maximum
outcome is incurred in 2nd week of research and the least reaction is collected in last weak of
research because of customers are not able to take maximum interest in that particular research.
3.2 Trend line
A line which indicate unspecific course of something like geographical characteristic of
features of a set values that are point out on a single graphs. It is drawn on pivot highs or low
that display direction to a price. Any framework which is presented at visual basis. It is the most
suitable chart that shows a complete image to know best possible results (Jones and Sidorova,
2013).
Year Sales (£) Profit
2017 132540 52256
2018 200254 58450
2019 224500 62000
2020 250000 65450
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1 2 3 4
0
50000
100000
150000
200000
250000
300000
132540
200254
224500
250000
52256 58450 62000 65450
Year
Sales
(£)
Linear (
Sales (£))
Profit
Linear ( Profit )
From above mentioned data a complete trend line is bing drawn that comprises of various
total number of sales and out of which profit is generated. For future forecasting there various
sales figures are assume regarding balti palace restaurant. The maximum number of profit is
generated with 2019 as a average of 62000 because of 224500 capacity to sales.
3.3 Covered in PPT
3.4 A formal report presentation
FORMAL REPORT
To,
The managing Director,
26th July 2017
In overall research conducted on Balti palace restaurant which is known for its best
quality food cuisine like as it associated with vegetarian restaurant that are serving modern and
traditional foods to its customers that are included under there cuisine. To know there
satisfaction and expectation from the restaurant. The staffs are good and hygienic because they
are delivering quality services and timely order those are booked by the customers. The
environment of Balti palace restaurant is more appropriate and pleasant. In the current scenario
people are big transforming there taste to get into quality food and services that can satisfied
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their needs and wants. In that respect Balti palace is the best example because most of the
customers are highly satisfied with the services provided by that particular restaurant. To know
more appropriate outcomes different methodologies are being used that provide valuable
satisfaction level of the customers. The overall research are providing best positive results that
are used by restaurant members in coming future. It help to expand their business in most
sequential manner.
TASK 3
4.1 Procedures that are used to present project plan.
This tool is helpful in transferring information from one level of management to another.
The main benefit of this tool is that it keeps record of all relevant financial transactions. These
following are various info tools:
Management information system: It is a computer based data that is consisting of important
information which is sued in decision making procedure.
Decision support system: Main objective of this tool is to provide aid in decision making to the
strategic management of company.
Office automation system: It is used to transfer the important data to the higher management
level for decision making process (Cronan and et. al., 2011).
4.2 Presentation of network diagram
There are only three possible path is being drawn from the above network diagram:
PATH A: 1+2+5+6+8 = 15 Days
PATH B: 1+4+7+8 = 10 Days
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PATH C: 1+2+3+7+8 = 17 Days
The critical path is used from above network diagram is divided into three parts and the best
possible path is the one which is taking less time to complete a project and it is B which is taking
10 days time to covered that results (Isik, 2013). And rest of the paths are taking more time from
the second one.
4.3 Investment appraisal
YEAR £ Cash flow
PV factors @
12% PV of cash flows
0 190000 1 -190000
1 50000 0.8928571429
44642.857142857
1
2 64000 0.7971938776
51020.408163265
3
3 58000 0.7117802478
41283.254373177
8
4 70000 0.6355180784
44486.265488338
2
Present value
181432.78516763
8
Net Present value -8567.2148323616
IRR -1.84%
From above data it has been found that company with initial investment of 190000
under a project are providing a present value of 181432 and the net present value is -8567 and
internal rate of return is also in negative which can't be taken into consideration. So under this
situation this proposal is rejected (Internal Rate of Return (IRR). 2017).
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CONCLUSION
From above mentioned project report it has been concluded that business decision is the
most important part of any organisation that are used to make valuable decision regarding growth
and development of an organization. Under this project various data is collected by asking
questionnaire as primary sources. A formal report is also presented on that data collected. Graphs
and charts is being prepared to make appropriate decision. At last various decision tools and
critical path is drawn and various investment proposal are evaluate with the available data
information.
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REFERENCES
Books and Journals:
Groebner, D.F and et. al., 2011. Business statistics: A decision making approach. Prentice
Hall/Pearson.
Vercellis, C., 2011. Business intelligence: data mining and optimization for decision making.
John Wiley & Sons.
Zsambok, C.E., 2014. Naturalistic decision making. Psychology Press.
Maxwell, A.L., Jeffrey, S.A. and Lévesque, M., 2011. Business angel early stage decision
making. Journal of Business Venturing.26(2). pp.212-225.
Woiceshyn, J., 2011. A model for ethical decision making in business: Reasoning, intuition, and
rational moral principles.Journal of business Ethics.104(3). pp.311-323.
García-Peñalvo, F.J. and Conde, M.Á., 2014. Using informal learning for business decision
making and knowledge management. Journal of Business Research.67(5). pp.686-691.
Aharoni, Y., Tihanyi, L. and Connelly, B.L., 2011. Managerial decision-making in international
business: A forty-five-year retrospective. Journal of World Business.46(2), pp.135-142.
Provost, F. and Fawcett, T., 2013. Data science and its relationship to big data and data-driven
decision making. Big Data.1(1). pp.51-59.
Zolfani, S.H., and et.al., 2013. Decision making on business issues with foresight perspective; an
application of new hybrid MCDM model in shopping mall locating. Expert systems
with applications.40(17). pp.7111-7121.
Fassin, Y. and Buelens, M., 2011. The hypocrisy-sincerity continuum in corporate
communication and decision making: A model of corporate social responsibility and
business ethics practices. Management Decision.49(4). pp.586-600.
Wu, Z. and Pagell, M., 2011. Balancing priorities: Decision-making in sustainable supply chain
management. Journal of Operations Management.29(6). pp.577-590.
Isik, Ö., Jones, M.C. and Sidorova, A., 2013. Business intelligence success: The roles of BI
capabilities and decision environments. Information & Management.50(1). pp.13-23.
Cronan, T.P and et. al., 2011. Decision making in an integrated business process context:
Learning using an ERP simulation game. Decision Sciences Journal of Innovative
Education.9(2). pp.227-234.
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