Business Decision Making: Gathering Data, Survey Methodology, and Analysis

Business decision
making

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
Task 1...............................................................................................................................................1
1.1 Drawing plan for gathering primary data and secondary data..............................................1
1.2 Survey methodology and sampling frame.............................................................................2
1.3 Framing questionnaire for survey.........................................................................................2
Task 2...............................................................................................................................................3
2.1 Briefing the data which has been gathered from the survey for representing values............3
2.2 Brief analysis of the outcome of survey with conclusions...................................................5
Views of question 2: ...................................................................................................................5
Views of question 3:....................................................................................................................5
Views of question 4:....................................................................................................................5
4.3 Interpreting data by using measures of dispersion................................................................5
4.4 Application of quartiles, percentiles and corelation coefficient with respect to framing
useful conclusions.......................................................................................................................5
Task 3...............................................................................................................................................6
3.1 Providing and conclusion of survey with help of spreadsheet..............................................6
3.2 Drawing a graph with trend line which will be representing sales and profit growth..........8
........................................................................................................................................................10
3.4 Drafting a formal report for Retail Times magazines.........................................................10
Task 4.............................................................................................................................................11
4.1 Application of information processing tools in the context of decision making................11
4.2 Determining the critical path with network diagram..........................................................12
4.3 Application of financial tools with respect to decision making process.............................13
CONCLUSION..............................................................................................................................14
REFERENCES..............................................................................................................................15

INTRODUCTION
In the present era each and every company can gain advantage and success with the
perspective of competitive advantage by taking appropriate decisions and must lay special
emphasis on conducting research by using financial tools. The present report is giving brief
understanding on shopping habit of customers preference is changing and primary and secondary
data has been collected for taking decision of retail stores and online preference with its
methodology.
Task 1
1.1 Drawing plan for gathering primary data and secondary data
The present case is about the advancements due to technological and innovations are
creating rise in retail sector to a great level. It can accomplish its goals and success in business
environment which is competitive and it consists of many recent changes or trends.
Aim: To assess the consequences on basis of technological innovation and multichannel
shopping on high street shopping and malls in the context of sales and customer base.
For giving a deep insight on the present issue there is requirement of gathering both
primary and secondary data by researcher in the respective manner:
Primary Data: On the basis of research, information should be collected via survey,
observation, focus group etc. Usually it is collected for accomplishing the specific aim and
objective of research. It provides some suitable and specific information according to the issue
which has to be investigated and it is very highly effectual. To collect information about
shopping habits along with the changes and shopping preferences by customer and motivation
regarding the changes. Survey technique will be used for observing changes in retail sector.
Purposive sampling will be implemented on the 20 managers of high street retail shops and malls
and in the same series after sampling there is requirement of questionnaire which must include
open ended or close ended questions in context of changing aspects of shopping, multi channel
shopping etc. and after this step that prepared questionnaire should be sent to manager who is
referred as sample from the person who all are related to it. Generally each and every primary
data should be prepared on the basis of plan which has been depicted and must be collected from
scholar.
Secondary Data: All the data which has been already analysed, published, gathered and
evaluated by any researcher is known as secondary data. It consists of journals, books and even
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scholarly papers and these sources gives information about the issues and its solution are
recommended in the best possible way. And in the present scenario of this case all the data, trend
related to multichannel shopping will be collected from journals and articles. Usually the recent
published and scholarly articles will be presenting the level of customers will be referring
multichannel shopping. The information related to trend of customer shopping from retail outlet
or sector will be surfed from internet as internet is full of information about the trend of shopping
and behaviour of customer.
1.2 Survey methodology and sampling frame
Survey methodology: This is the major implication where each and every researcher
performs the survey in more effectively manner. Survey should be conducted within specific
period and its emphasis is on choosing and applying that methods. For a deep insight, the impact
of technological innovations on the performance of sale and retail store's customer base and
responses of malls will be collected from the organisation's manager via online survey
methodology. Reason behind selecting online methodology is highly effective and time saving.
Sampling frame: There should be selection of proper survey as well as sample by
applying probabilistic and non probabilistic technique. Probabilistic refers to technique where all
individuals of population whichever is concerned will be getting an equal chance to be selected
as sample and on contrary side non probabilistic includes sample by keeping in mind about aim
and objectives. Purposive sampling will be adopted by taking in account to 20 managers, which
will very suitable for qualitative research type and helping in assessing the solutions of issue.
1.3 Framing questionnaire for survey
Framing a survey to give more efficient and effective result it is framed with the
combination of both open ended and close ended questions.
Name
Age
Profession
Sr. no Question
1 The shopping preferences of customers in specific time period changes.
Agree Strongly agree Neutral Disagree Strongly
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