Impact of Technological Development on Data in Business Decision Making

Learn about the impact of technological development on the role and use of data in the business decision making process. Discover how technology enhances data collection, management, and decision making within an organization.

Data Collection
1

Table of Contents
INTRODUCTION...........................................................................................................................3
Choose and explain about selected industry and company...................................................3
About industry:.....................................................................................................................3
1. Discuss the differences between big data and 1,2 or 3 party data......................................4
2. Describe about the difference between Big data and Market research..............................5
3. Explain how information is captured and stored with key references of Database
Management...........................................................................................................................7
Data Base:...............................................................................................................................8
4. Describing the impact of technological development on the role and use of data in the
business decision making process within the organisation....................................................9
5. Setting out how information and data is used within the day to operation of organisations
within that sector and what is its strategic importance to the organisation..........................11
6. Setting up of an outline for research into improving data capture and use in an organisation.
..............................................................................................................................................12
CONCLUSION..............................................................................................................................14
REFERENCES..............................................................................................................................15

INTRODUCTION
Data Collection is the process of gathering and measuring information is targeted through
better variables to measure about effective information on targeted variables is an established
system which help to enable about one of answer relevant information for measure positive base
outcomes (Azeem and et. al., 2021). In this following report there is topic revolves around data
collection, types, features as well as big data along with market research on relevant industry or
company.
Choose and explain about selected industry and company
About industry:
The retail industry is type of sector which economy that comprised about individual and
companies which help to better engaged in selling of finished product and end user to consumers.
Their main objective is to provide quality of product and service for provide customer as per
their needs and wants. Multistore retail chain are enhance at global level as somehow it is
accomplish through final goods, include necessities such as food and clothing as it takes
recreational activity.
About Company (Tesco):
Tesco is trading an one of British leading company that consist about multinational
groceries and having general merchandise retailer where its headquarter is situated Welwyn
Garden city England (Changy., 2020) . Tesco is mainly deal with gricesories and home
appliances product and services in quite affordable prices offer to customers.
Company Stakeholder:
A Stakeholder has vested interest within company and it can either affect or to be
business operation and major performance mapping. There are two types of stakeholders such as
Internal and External stakeholder are explained below:
 Internal Stakeholder: It is entities within a business where it highlight about employees,
manager, towards board of director and investors. Similarly, the main stakeholder of
Tesco are Board of Directors, Manager, executive committee and shareholder. All these
factors are plays an important role in it. There are 450,000 member are working actively
in worldwide.

 External Stakeholder: These are those entities in business that reflect about Suppliers,
Distributers, investors, regulators etc. As in main external stakeholder are counted in
Tesco are those customer which enhance suppliers, creditors, competitors, pressure, and
local communities along with government (Dong and et. al., 2021). Tesco serves millions
of customer where they use to but product and service from within a week. To server
about customer with excellent quality about healthy and better sustainable product, Tesco
work within having thousand of supplier and procedure. These suppliers and producer not
only provide Tesco within required product.
1. Discuss the differences between big data and 1,2 or 3 party data
Type of data used in the industry Is it Big data Is it 1st, 2nd, or 3rd party data
Data Source Yes, Customer behaviour
retail analytics in which it is
critical tackling challenges like
to improvising customer
conversion rates, personalising
campaign to increase better
revenue and predicting to avoid
customer about customer or
lower customer acquisition costs.
But customer are now react and
provide their feedback on social
media (Francois., 2021), Tesco’s
official suggestion websites.
This is generally increase
dramatically increases the
complexity and variety of data
types effectively.
This is the data which is
collected through 1st and 3rd part
data in which Customer
relationship management
company application or websites
mapping to analyses how
customer involves in their
opinion in their productivity.
Also it scrutinise through face
book and other social media
source.
Examples For Example: As if Tesco
manufacture new product in
market and they tries to promote
in competitive market but before
The opinion is usually generate
through Second party because
the data is collected from some
one else source or other portals

they want to know about
customer suggestions. Through
which it creates ample of
opinion attain from different user
of Tesco product people weather
in negative, moderate or positive
manner.
within competitive advantages.
Benefits Through having customer
behaviour analytics is majorly
basic form about generate
customer knowledge.
Organisation that have insight in
which customer are bough about
what, when, and via which
channels to gain better
competitive advantages as
because they equipped to make
data based marketing decision.
The benefits data is majorly
scrutinise through 1st, 2nd and 3rd
party of customer which
analysation (Gurău and
Ranchhod, 2020). In which data
is revels about attain such offers
about customer lifestyle in which
it creates cheaper to obtain
because it easily gathered
through internet sources.
Limitation Some of the official site is totally
restricted from researcher or
third person because certain sites
are official holding through
company as well as people are
not attained proper manner to
use that particular data effective
manner.
There is less control to objective
for not attain better exclusive
form with certain purpose.
2. Describe about the difference between Big data and Market research.
Basic Big Data Market Research.

Definition The big data is field that treats way to
analyse systematically with exact
information through various sources.
It majorly deals with other sets of to
large company about dealt with better
traditional approach of data related
processing application software. The
role of big data in retail industry is to
understand customer buying pattern
as well tries to understand about what
they are going to purchase. some of
recommendation which is base on
customer history which creates
shopping experiences and it also
improved customer service.
Market research is the process
of determining about the
validity of a new customer and
service which enhance product
through research conducted
directly within potential
customer. Market research
allows a company to discover
the target market towards
other feedback through
customer about their interest
within the product or service.
Benefits The benefits about big data which is
used through Tesco information team
are:
 It would cut the data cost on
which Tesco can compared
maintenance charges through
better contractor against
about its average on other
vendors (Han., 2021).
 Using of bigger data
increases efficiency: Through
using of digital technology
tools boosts about business
efficiency. From using tools
such as Google Maps,
Google Earth and social
The major benefit which
provide through business
strengthen their position
where it generate knowledge
power. Through using of
market research to gain better
competitive perspective and
having proper understanding
towards market growth and
attain target audience.
This is also minimise risk in
investment which s vitally
important and it often business
critical consideration. Through
better Spending what is often
only about small proportion

media. where better investment on
researching and testing get to
analysis for better concept of
ideas.
Professional skills
required
There is high skills is required to
handle Tesco big data as Tesco
human resource department also hire
expertise who attentively handle their
data effectively are:
 Analytical skills
 Data visualisation skills
 Skills and programming
 Problem Solving skills
 SQL- Structured Query
Language.
 Skills Data mining.
 Familiarity with technologies.
In addition about these skills
of marketing research requires
competence within a number
of areas and here one I feel to
retain customer behaviour
marketing and experimental
data about research design,
sampling theory and practise
in which survey about
questionnaire design.
Technology Used This depend upon the Tesco using
technology about working aspect
within assort Customer relation
management where the technology
which gathering into storing detailed
analysation data.
Better business intelligence and cloud
computing can be used to scrutinise
detailed success.
It is entirely using the skills of
technological is generate
better Microsoft word, Power
point, and other C++, Java
these type of technological
skills is used for collection
data related market research.
As Tesco Research and
Development team also use
these type of research skills
for generating positive
outcomes.

3. Explain how information is captured and stored with key references of Database
Management..
 Definition of Information System.
An information system is type of formal, sociotechnical organisational system
designed to effective collect, process, store and effective distribute information supplies.
It is integrated process about set of component for better collecting and processing
through data facilitating knowledge within digital product.
 Types of information system.
There are certain types of information system which can be formulate by Tesco
company are:
Transaction Processing System: This transaction encompasses about all purchases and
sales towards product and services as well as daily business transition measurly operate through
company.
Office automation: It is a type of network tool where technologies and people are
required better conduct clerical and managerial task (Jiang., 2020). It is an office automation
system that majorly assists among different department to every one which collaborate to
complete task effectively manner.
 Elements of Information System.
There are different elements about information system are considered:
Computer Hardware: It is physical technology that works within better information.
Hardware can be small as a smartphones that fits into pocket as larger super computer.
The hardware about include peripheral devices that work with computer that work with
computer such as keyboard with external disk driver and routers.
Telecommunication: This component connects within hardware together to form a better
network where the connection can be assort through wires through better Wi-Fi.
 Used of Information system through selected company.
The majorly Tesco would use the information system is Transition Processing System
which help to maintain record how customer purchase better product and service with
daily business transition through evaluate operate within company.
Data Base:
 Definition of Data base?

A data base is collection of information that is organised through easily assessed,
managed to being updated. Effective computer database are typically contain aggregation
of data record of files and maintain containing information.
 Definition about data base management system (DBMS).
The data base management system is a type of software which storing and retrieving users
where data is while considering appropriate security measure. This is consist about group of
program which manipulate about data base.
 Types of DBMS
Types of Data base management
system definition
Advantages Disadvantages
1. Centralised Data base:
This is type of data base
which usually store data in
specific system
management. Through
storing of data people can
easily access it from
inventory options well as
several application.
 It mainly reduce the
risk of data base
management system
which means about
manipulation of data
will not affect the
core data.
 It provide better
quality of data
which enables
organisations to
establish data
standard.
 The size of
centralised database
is one large which
increase the
response of time for
fetching about data.
 It is no quite easy to
update about such
extensive data base
system.
2. Relational Data base: This
data base is refers about on
relational data model which
stores data in form of rows
and together formation of
tabular.
Through relational database
it making systematic data
where overall information
is generate better positive
outcomes.
It takes more time
consumption in which high
data involves for mapping
other source of data
effectively.

4. Describing the impact of technological development on the role and use of data in the business
decision making process within the organisation.
The term technology refers to an adoption of certain software’s or updated equipment’s that
reduces the company’s burden as well as assists them in minimising waste, cost and time which
they can utilise in other work so to have greater level of productivity and efficiency within the
outputs. The implication of technology is also helpful for businesses n having competitive
advantage over rival firms within the industry (Kumar and Raj., 2020). Now-a-days every
company tries to inbuilt latest technology within their businesses so to have proper and effective
collection, management and detainment of data or information which helps companies in having
strong decision making within their companies. The development in technology allows manager
to have more updated and concrete data collection through different software’s for the successful
attainment of company’s growth as well as experiencing growth. In earlier days or few years
ago, the managers use to have their decisions on the basis of limited data or information which
they manually collection or the data which is being collected by any of their employees within an
organisation. This practice does not provides managers with actual figures or the true data which
is now possible with the help of technology where the company managers can take their decision
on the basis of true and fair data which is now being collected and retained by the technological
software’s. Development in technology assists businesses in having huge data at same time or
making their decision process much easy with fewer chances of mishandling, error and theft of
data. The company TESCO applies various kinds of tools, strategies and systems in order to have
proper and effective decision making process within their firm to have continuous growth
through gathering of critical or precious data which assists TESCO in having adequate analysis
as well as logical decisions for their business. The various technological software or equipment’s
being adopted by TESCO in their decision making processes are mentioned below:
 Business intelligence: This kind of technological software involves having solutions to
different problems along with providing various services to transfer data or information
into the actionable details or instructions which help company’s managers in having their
decision by knowing the current situation of their business.

 Tracking of activity/time: This kind of technology allows companies to collect data of
their daily activities as well as the working and ideal time of their employees. This
provides benefit in having high profits or integrating tool for measuring the progress of
task as well as their efficiency. Managers then tales decision based upon the data
provided by such software for their upcoming tasks or projects.
 Artificial intelligence or machine learning: The most used and famous technology in
retail sector is use of artificial intelligence as well as machine learning into business that
supports managers to have their decisions through different algorithms in their process
(Li and et. al., 2021). The technology can provide numerous data at single time which is
always out of fatigue and errors. With the help of this the company TESCO can enhance
its supply chain or customer billing process which will take less time and resources along
with attracting more and more customers through speedy deliveries and real time
processes.
5. Setting out how information and data is used within the day to operation of organisations
within that sector and what is its strategic importance to the organisation.
Generally we consider esteem in business regarding resources such as plants, properties,
hardware, stock and surprisingly HR. The blast of innovation throughout the most recent decade
has made us re-evaluate what is significant. Truth be told, what numerous organizations today
consider to be their most important resource can't be grasped in light of the fact that it is the data
produced by the assortment of billions of pieces of information. In fact, the information that
organizations accumulate about their clients is, to the most reformist organizations, priceless! For
instance, when a customer visit TESCO’s website, information is caught about what a customer
saw: what colours he liked, how long he stayed on a page and indeed, even your actual delivery
location of such customers. Organizations take that "information" and transform it into valuable
data. They would then be able to utilize this data to push promoting to customers about
company’s product or services, through their site as well as to customers online media accounts,
customers email, and surprisingly on-to their mobile phones. As the assortment of information
gets simpler and savvier, organizations are continually producing fresh and strong data related to

the business climate. Data streams all through an organisation in a wide range of function. The
kind of information a business gathers is backed by a business' objectives and goals. Registering
frameworks can gather a bewildering exhibit of information about our general surroundings.
Organizations choose what sort of information they need to educate their business choices and
afterward figure out where and how that information can be gathered. At the point when
company sets base for choices on information accessible from the board data frameworks, they
reflect data that comes from the activities of the firm. The board data frameworks take
information created by the functioning even out and coordinate it into valuable organizations.
The board data frameworks ordinarily contain marketing projections, costs, ventures and labour
force information. On the off chance that company needs to know how much benefit their
organization has made every year to settle on a choice, the board data can give precise reports
giving the required data. The strategic importance of data to the organisation TESCO is
mentioned below:
 The data or information helps company in having proper and adequate idea about their
internal as well as external environment which has a great impact upon the performance
and brand image of company.
 The collection and maintenance of data helps company in having complete idea about the
preferences, likes or dislikes of their customers which they can indulge in their
production or service process in order to encourage and attract more and more customers
towards company’s product or services.
 The collected data or information through proper use of technology allows company to
use them as a basis for their decision making process in respect to the required
information especially at the time when developing strategies.
 The data and information is important for the company in order to have enhanced process
into its conduct so to have less wastage and proper management of company’s resources
as well as human resource which acts as a strong pillar for organisational growth.

6. Setting up of an outline for research into improving data capture and use in an organisation.
The research for improving data capture and use within an organisation TESCO is done
below:
 Protection of Data and its regulations: In today’s world there are lot of firms who are
operating with latest technology at national as well as at international level hence it is
very necessary to protect company’s data form rival firms and thefts (Anderson-Cook,
2020). This can be done by indulging proper system and security of data technology
abiding by the rule and regulations of concerned authority. Through having proper
security of Data Company can enhance its strength as well as can maintain records with
immense care.
 Ethical collection of data and information: A large portion of the current guidelines rest
upon shielding clients from an undesirable and unapproved utilization of their
information. Companies that don't regard clients' desires or educate them about how their
information is being utilized, by and large endure the outcomes. Trust is critical to
building enduring associations with customers and once that trust is broken, it is hard to
modify. By advising clients about the information assortment arrangements and
practicing full straightforwardness, company will construct certainty. A couple of
approaches to do involve requesting explicit data through overviews, permitting clients to
choose which data they wish to share, making a security strategy where clients can find
out about company’s information assortment rehearses.
 Continuous monitoring and updates: It is very much essential for the companies to have
a regular track over their data and information and update them time to time so to stay
aware from any malware practices or loss of data and even getting out-dated results.
Updates and continuous monitoring helps TESCO to stay aware about the current rends
as well as implant the latest technology into their consideration which brings them
competitive advantage (Pika and et. al., 2021). TESCO is required to follow certain
policies or procedures in order to keep track and update of its data as well as information.

 Backup of complete data: It is always beneficial to have a complete and regular backup
of company’s data and information so to be secure from any kind of data loss or theft
(Zhang, Li and Liang, 2021). By keeping a backup company can easily retrieve the
required data whenever there is a need for organisational use.
CONCLUSION
From above report of data collection is summarisation about overall consider retail industry
and company. To highlight about their data and big data or research market plays vital role
to valuable information related with company related data information. And by using of
managerial approaches which provides the basic techniques of market about how to perform
and when. Use of technology in collecting and maintaining proper data and information is
very much necessary as now a day no company maintains and collects data manually.
Technology helps businesses in having error free and concrete results to have better decision
making process in benefit of company’s development and growth. There are various
technological software’s which a company can implement in its operations for data
collection. On the other hand it is also very much necessary for companies to protect and
update their data time to time so to improve data capture and maintain regular records within
an organisation.

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