Report on Data Collection Techniques for Research

Added on - 04 Jun 2020

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Business DecisionMakingTable of Contents
INTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Data collection sources.....................................................................................................11.2 Research methodologies and sample designing...............................................................21.3 Questionnaire designing...................................................................................................3TASK 2............................................................................................................................................42.1: Creating data by summarising information with the help of representative value..........42.2: Analysis of data by collected from the research.............................................................62.3: Evaluating measure of dispersion....................................................................................72.4: Benefits of using quartile, percentile and coefficient correlation...................................8TASK 3............................................................................................................................................93.1: Various graphs and charts...............................................................................................93.2: Trend line.....................................................................................................................133.3: Covered in PPT.............................................................................................................14TASK 4..........................................................................................................................................154.1: Use of data methods in decision making......................................................................154.2: Critical path..................................................................................................................154.3: Investment appraisal tools.............................................................................................16CONCLUSION.............................................................................................................................17REFERENCES..............................................................................................................................18
INTRODUCTIONBusiness decision making is an essential aspect for every concern organisation which isassociated with financial and non-financial activities. They need to take crucial decisions on thebasis of their daily operations. The main objective of this specific report is to collect variousreviews and feedbacks from various number of customers that are visiting to Food for Friendsrestaurant (Groebner and et. al., 2011). By the help of wide range of techniques use during theresearch in order to make proper interpretation of various aspects such as Standard deviation,mean, median and mode etc. Food for Friends is a restaurant that is used to deliver the bestquality of products and services in UK market.In this report, it has be explain various data collection techniques for the purpose ofconducting a well organise research. A set of questionnaire is being filed from number ofresponded to analyse reviews of customers. Some specific charts and graphs are taken in order toplot information those are gather from the research process. Examination of investment appraisaltechniques to make a well effective decision-making.TASK 11.1 Data collection sourcesIn order to conduct a well organised research, it is essential for the researcher to use oneof the best data collection sources that can be beneficial for them. By the right selection ofsources, chances of getting better results would be enhanced. The primary objectives ofconducting this particular research is to determine about total impacts and experiences ofcustomers those are visiting to Food for Friends restaurant (Ferrell and Fraedrich, 2015). Thereare mainly two sources of data collection which are explained underneath:Primary sources:This happens to be the most reliable source because information iscollected for the first time from any research. The chances of biasses is very much low becauseof real data. By the help of this sources decision-making would be more positive and accurate. Itconsists of some useful techniques such as:Survey: It refers to face to face communication with customers and collect necessaryview points and feedbacks that are being offered by the restaurant. It is known as a systematicmeasurement of respondent’s perception.1
Questionnaire: It is a set of written questions that consist of multiple choice options thatprovide customers certain right to present their view as per their thinking.Online: It refers as data collection by the way of voting certain comments over onlinemode. It covers wide range of areas in order to get valuable details.Secondary sources:This is said to be a crucial process of collecting data from varioussources such as articles, magazines and newspaper in which information is already presented(Shapiro and Stefkovich, 2016). These are termed as second hand data which is only used tocompare current research with the past one.1.2 Research methodologies and sample designingIt is vital for researchers to use suitable techniques of data collection methods so that theresults can be achieved in an economical manner. All the information gather during researchwork is use for the purpose of making decision regarding betterment of restaurant business. Inorder to make attractive report, it is crucial to conduct primary research because it is free fromany biases and unethical means (Tufféry, 2011). The problems which is being face by customersduring visiting Food for Friend restaurant can easily be resolved through using customerfeedbacks. For this purpose, questionnaire is the best option to collect information in bestsuitable way. Types of research methods:Descriptive vs Analytical:It consists of surveys and fact or enquiries of various kind ofissues. Whereas, analytical method uses facts or data those are already presented and evalutethose to make critical analysis of the material.Quantitative vs Qualitative:For the purpose of making measurement of total quantityor amount of results from the research quantitative research method is being used. While, theother one is related with quality of kind arises in a research-practice.Sampling designing:In order to identify outcomes in best manner, they needs to collectfew samples from selected number of group. This can be categories into various modes such as:Random sampling:This techniques is utilise over selected number of group out of apopulation (Xu, 2015). It is unbiased survey techniques which is going to be use under thisspecific research.There are some other sample techniques are also those are helpful in research work suchas Quota, stratified, cluster sampling and so on. In this research work total of 60 respondents is2
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