logo

The Role of Data in Car Industry

   

Added on  2021-02-20

4 Pages662 Words74 Views
 | 
 | 
 | 
DATA INSIGHT
The Role of Data in Car Industry_1

1. Role of information and data within the car industry In car industry information plays a key role as they are having the customer informationlike e-mail address, contact numbers or any other personal information that helps them inincreasing their sales by giving them discounts, offers, etc. on various festivals or on any otheroccasions. As data is having the key concept to be aware in this industry as it can help theowners and leaders to identify the important patterns and trends. It helps to improve the revenuemanagement and enhance the customer experience.2. Types of data is collected and used by the organisationAs in car industry data is being collected as the 1st party that is primary data as it iscollected by the researcher from the first hand source (Bilgihan and Nejad, 2015.). BMW use themethods like surveys, interview, by cold calling, etc. It is being collected by having the researchproject in mind that is being get directly from the primary sources. 3. Information and data is used within the operations of the organisationInformation that is required in the daily operation of the business such as financialtransaction that takes place on the daily basis, it is the cost that is occurred in the daily routine.Also, daily working hours of employees is noted. This helps in calculating wages, salaries, etc.This is being taken from the industry that is dealing with the same industry (Rivera and Pizam,2015).4. How the information is being captured and stored with the key references in databases andinformationInformation is being captured by BMW through different modes as it can be takenthrough the surveys, taking the interviews and can also be taken by filling the forms from theirclients. The information is stored in various database such as MIS, DSS, etc. in segregated way.Also, in ESS data is stored. 5. Example of data is being used to deliver the insight for business in decision makingAs we get the data many ways that is mention above and it helps the BMW in decisionmaking by taking the preference of the present trend. Every day the customer preferences arechanging and this data helps the business to offer the services as per the needs and requirementof the consumers. For example- BMW monthly sales enable in developing strategy for marketing(Ryan, 2015).6. Market research primary and secondary helps to increase insight
The Role of Data in Car Industry_2

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
data insights
|10
|300
|60

Data Insights for Business Decisions - Desklib
|18
|922
|275

Data Insights for Business Decisions in Retail Industry
|12
|1046
|327

Data Insights for Business Decisions
|15
|1621
|63

Data Insights for Business Decisions - Desklib
|14
|822
|99

Data Insights for Business Decisions
|12
|1133
|369