Data Insights for Business Decisions - Desklib

This presentation discusses the importance of data insights in making sound business decisions. It focuses on British Airways' use of big data and its impact on decision-making. The presentation also covers the types of data collected, databases and management information systems used, and the role of technological development in the decision-making process. Additionally, it outlines ways in which data is used within the day-to-day operations of an organization and its strategic importance within the aviation sector. Finally, the presentation suggests ways to improve data capture and use in British Airways.

DATA INSIGHTS FOR BUSINESS
DECISIONS

TABLE OF CONTENT
 Introduction
 Data type collected
 Orthodox market research and its differentiation from big data
 Information is captured and stored to types of databases and management information systems
 Impact of technological development and use of data in the business decision-making process
 Data is used within day to operation of organization & strategic importance within sector
 Outlining research into improving data capture and use in British Airways
 Conclusion
 References

INTRODUCTION
 Data insights is concerned with gaining depth understanding of organizational practices via evaluating the particular
scenarios.
 In the current era, having effective data insight becomes crucial in order to gain competitiveness to understand prevailing
factors so that higher sound decision-making can be exerted.
 The current study is based on British Airways is one of the successful organization that is flag carrier and considered to be
second larges firm in aviation sector.

DATA TYPE COLLECTED
 There are different types of the data which are usually collected by organization in order to gain information in relevant &
reliable manner so that significant decision-making can become possible.
 From the assessment it can be interpreted that British Airways (BA) is collecting the big data which is concerned with having
huge in volume information that tend to grow with time.
 There are different kinds of the objectives which are accomplished by the business through having big data in the procedure.
 In the airline sector, using big data allows BA to gain ability to attain different kinds of advantages so that higher profitability
& sustainability can be derived.

CONTINUED
 Bog data is enabling BA to retain higher level of improved service so that much emphasis on centralizing view of
customers.
Real time analytics to
optimize flight route
Demand forecasting & fleet
optimization
Customer segmentation &
differential pricing strategy
Having information about
fuel efficiency
Understanding of
personalized offers
Proper performance
management, etc

ORTHODOX MARKET RESEARCH AND ITS
DIFFERENTIATION FROM BIG DATA
 Orthodox market research is basically related with using the traditional form of
collecting the information.
 This is limiting factor that it takes time and found to be little difficult in meeting
the organizational objective of covering larger segment.
 Big data is basically made up of the unstructured & complex set so that gathering
information in real time can become possible.

CONTINUED
Orthodox market research Big Data
• This is concerned with collecting valuable
data so that proper information can be
obtained.
• This is related with finding data and
exploring value so that proper information
can be received (What is Big Data? 2022).
• It includes extracting, transforming,
loading problem into data and having
solution.
• It comprises extracting, loading,
transforming, having data, analytics and
knowledge so that effective decision can be
made.
• Orthodox market research is having long
term, inflexible structure
• Big data includes having dynamic flexible
structure
• There is limited data limited intra discipline
access.
• There is availability of wide inter discipline
access.

INFORMATION IS CAPTURED AND STORED TO TYPES
OF DATABASES AND MANAGEMENT INFORMATION
SYSTEMS
 Big data is one of the significant type of the data that is basically covered in order to have proper information so
that relevant & reliable decision-making can become possible.
 British Airways pay attention on having 'Know Me' program that allows getting information regarding loyalty by
understanding online behavior & buying habits.
 The image search permits the firm to give attention on customer via understanding customers requirements so that
buyer centric approach can be developed.

CONTINUED
 There are different kinds of data base systems which are basically used by company so that proper
storing in encrypted form can be done.
 There is involvement of DB2 and IMS so that proper storing can become possible (Odarchenko,
Hassan and Zaman, 2019).
 DB2 is the type of relational database management system whose key strategy is to handle large
application all over the world.
 There is emphasis is provided on gaining the proper complex series of data base which can permit to
have diversity of interconnected & independent system.
 Information management system allows giving emphasis on receiving experience so that connecting
with customers, achieving organizational service goals, controlling cost so that achieving proper
information can become possible.

IMPACT OF TECHNOLOGICAL DEVELOPMENT AND
USE OF DATA IN THE BUSINESS DECISION-MAKING
PROCESS
 There are several objectives of British Airways which require firm to pay attention on
developing relevant strategy so that significant productivity and sustainability can be
attained.
 For this purpose BA has given emphasis on implementing technological
development into it decision-making process so that greater effectiveness can be
received.

CONTINUED
 The collected data via having proper database system for recording
permits
setting relevant
prices, understanding
current demand
requirement of
offering
personalized
services,
performance
management, etc.

DATA IS USED WITHIN DAY TO
OPERATION OF ORGANIZATION & STRATEGIC
IMPORTANCE WITHIN SECTOR
 There are various activities which are executed by the organization in turn achieving proper ability to stabilize in aviation
sector can become possible.
 In order to gain the success the particular organization pay attention on gathering relevant information & data such as
prevailing trend in market, lacking areas exiting in operational functioning, deciding route as per the weather, etc.
 Data is used in such a manner so that maximum reliability & efficiency in the formulated decision-making can be made.
 Data is considered to be important as allows coordinating with personal requirements of customers via ensuring significance
compliance with technological & legal criteria.
 Real time proactive analysis technique is helpful in gaining proper ability to offer quality service in sector.

OUTLINING RESEARCH INTO IMPROVING DATA
CAPTURE AND USE IN BRITISH AIRWAYS
 There are different kinds of objectives such as revenue enhancing, profitability inclination, reducing cost, etc.
which can be proper astatine making significant decision.
 For improving data capturing firm can directly connect customer via paying attention on questionnaire so that
depth understanding can be derived.
 Focusing on business needs can permit to analyze that which are lacking areas in BA so that proper improvement
execution can become possible.
 It can take online & social media marketing, having cookies & web beacons and email tracking can provide
assistance in achieving proper insights to make strategic decision.

CONCLUSION
 From the above report it can be concluded that data insights are important in current environment to make
strategic decision.
 The current report has involved that BA uses big data and there is usage difference in orthodox market research &
BD.
 The data is collected via suing loyal programs & stored in BD2 & IMS.
 Technological development allows making significant decision-making processing via understanding need of
customers, eliminating errors, etc.
 The current study has comprised ways in which data is sued such as eliminating lacking areas, etc.
 The improvement can be implemented by having cookies & web beacons, email tracking, etc. actions.

REFERENCES
Books and Journals
 Burmester, G. and et.al., 2018. Big data and data analytics in aviation. In Advances in Aeronautical Informatics (pp. 55-65). Springer, Cham.
 Gui, G. and et.al., 2019. Flight delay prediction based on aviation big data and machine learning. IEEE Transactions on Vehicular Technology.
69(1). pp.140-150.
 Mangortey, E. and et.al., 2019. Development of a data fusion framework to support the analysis of aviation big data. In AIAA Scitech 2019
Forum (p. 1538).
 Narongou, D. and Sun, Z., 2022. Applying Intelligent Big Data Analytics in a Smart Airport Business: Value, Adoption, and Challenges.
In Handbook of Research on Foundations and Applications of Intelligent Business Analytics (pp. 216-237). IGI Global.
 Odarchenko, R., Hassan, Z. and Zaman, A., 2019. Use of big data in aviation: New Opportunities, Use Cases, and Solutions. In Automated Systems
in the Aviation and Aerospace Industries (pp. 436-452). IGI Global.
Online
 What is Big Data? 2022. [Online]. Available through: <https://www.guru99.com/what-is-big-data.html#:~:text=Big%20Data%20is%20a
%20collection,data%20but%20with%20huge%20size.>