Business Decision Making: Plan for Data Collection, Statistical Methods, Cash Flow Analysis, and Graphs

BUSINESS
DECISION MAKING
Table of Contents

INTRODUCTION....................................................................................................................................3
TASK....................................................................................................................................................3
DEVELOP A PLAN FOR CARRYING OUT DATA SUCH AS PRIMARY AND SECONDARY ALSO IDENTIFY THE RELEVANT SURVEY
METHODOLOGY AND SAMPLING FRAME FOR JUSTIFYING METHODS USED FOR COLLECTION OF DATA.............................3
ASSESS THE DIFFERENT TYPE OF STATISTICAL METHODS AND TOOLS WHICH WOULD HELP TO EXAMINE THE COLLECTED
INFORMATION FOR AIDING THE BUSINESS DECISION MAKING PROCESS...................................................................5
 DEBT TO EQUITY RATIO: IT CAN BE CALCULATED FOR SEARCHING THE MONETARY LEVERAGE
WHICH THE FIRM WOULD INCUR.........................................................................................................7
DEVELOP GRAPHS AND CHARTS WITH THE HELP OF SPREADSHEET FOR CARRYING OUT A VALID CONCLUSION WHICH WOULD
BE BASED ON DATA RELATED TO BUSINESS......................................................................................................8
CONCLUSION.......................................................................................................................................9
REFERENCES..............................................................................................................................................10

INTRODUCTION
The prepared reports are believed to help make fundamental choices for government aid
and better business operations (Anderson and Williams, 2019). It also opens different Open
doors with subjective and quantitative inspections. In the accompanying report, the organization
used is a UK-based city business, a B2C organization. The accompanying report contains
information categorized sources, such as required and optional sources, with identifiable
evidence of how the organization utilizes these sources. Also, with the help of the income
statement, investigate and calculate and decipher various ratios by understanding the effort
related to money. Again, with the help of diagrams, the above information is brought in to drive
the closing and will help to make some recommendations from the report.
TASK
Develop a plan for carrying out data such as primary and secondary also Identify the relevant
survey methodology and sampling frame for justifying methods used for collection of data.
Gathering of data: Data collection can be explained as a medium of sorting and collecting data at
one place that would be helpful for companies. It also depicts and denotes collection, measuring
and examination that would be fruitful for finding related answers for each issue and problem
faced by companies (Bian, Kang and Zhao, 2020). These are based and managed in different
forms such as structured and unstructured. Two types of sources related to data can be Primary
and secondary data.
Primary data: It can be explained as data that helps in taking basic decisions for the government
assistance and improvement of the association. It likewise assists with developing the connection
by opening different valuable open doors through subjective and quantitative examination. In the
following report, the organization taken is Urban organization which is UK-based and is a B2C
selling union. The accompanying report contains information gathering sources such as essential
and auxiliary sources, by the recognizable proof of it that how the institutes utilize these sources.
Further, through the assistance of the income proclamation, an examination is performed and
various sorts of proportions are processed and deciphered for knowing about the financial
position of the organization. Additionally, with the assistance of diagrams and charts, the above
information is introduced for driving conclusions and recommendations with the help of
collected data.
 Questionnaires and assessments: It is done after giving mandatory reactions, the expert is
required and expected to record and disregard them. It is a effective way to direct a
pioneer to focus on the enquiries which are filled with experience and therefore
investigation of strategies and policies won’t result to be sufficient.
 Interviews: It can be defined as a method which is useful for attaining information which
can take place between two people and who accumulate and come together for a decision
or responding towards queries. This could take place in 2 ways which is face to face and
vital interviews.
Secondary data: It can be explained where optional data is accumulated with the help of
various sources which for now have assembled data as per their expectations. The data is
shifted and moved from the need for assessment and shortlisted from present gathered

sources (Escadas, Jalali and Farhangmehr, 2019). Data can be assembled from the
internal sources that have been sorted earlier for exploration purposes. External sources
are those sources that are outside the connection and data is assembled from such sources
as depicted by the want of the investigation. Internal sources further include:
 Past marketing studies
 Sales figure
 Inventory records
 Balance sheet
 Profit and loss statements
In the occasion that the data acquired won’t prove to be enough and lead to a investigation then
at similar point the data can be assembled from external sources which encompass:
 Corporate filing
 Government sources
 Universities
 Business, professional institutions, associations and trade
Types of secondary data:
 Internal records and statements: It can be defined as records which are prepared by staff
individuals working in the company for serving demands and needs of clients present in
external environment, for instance clients associated, possible courses of action business
status, number of monetary sponsors, it being prepared and financial to spend plans
records being made. It is helpful for organization chairmen to assess accepting any
assortment recorded and for clients it would help with reviewing related advancement
and augmentation over the course of sometime (Ferreira, Jalali, M.S. and Ferreira, 2018).
 Books, journals and articles: It can be said that with the help of books, diaries and articles
circulated one can find out practical and market-related practices finished by a firm all
through some time frame. It further provides guidance about assistants and supporters
who have attracted and moulded a relationship with the association. It also helps with
getting to their experiences in the setting of affiliation. In this way, discretionary data is
helpful to have cautious data about the working of associations in environment. It would
have less trustworthy results of mix-ups to occur in the assortment of data as it is being
accumulated by subject matter experts and conveyed by experienced people.
 Websites: It is counted as one kind of helpful information through which data can be
assembled, for model, regions made by the companies for better accessibility through
clients. Sites are helpful in getting data that would give important bits of knowledge in
regards to efficiency and its advantage and mishap clarifications and records, financial
spot of a associated firm in the economy whether or not client responsibility has
extended. It correspondingly gives data about impending recommendations of the firm
finished lifecycle.
Data sampling: It can be described as a statistical method which would help to measure, select,
monitor and decompose representative subset of data focusing for differentiating patterns and
examples within the complex and larger index of data being examined. It also helps data-based
researchers and data analyst for processing small data related to factual population for building
and running logic-based models even faster when delivering reliable and accurate findings. Few
models which are used here can be explained as:
 Standard deviation: It is a tool which helps to know the dispersion of data from the mean
value computed. It is the square root done of variance calculated.