Data Insights for Business Decisions

DATA INSIGHTS FOR
BUSINESS DECISIONS

TABLE OF CONTENT
 INTRODUCTION
 TYPE OF DATA USED BY RETAIL INDUSTRY
 ORTHODOX MARKET RESEARCH AND BIG DATA
 SIZE OF THE DATA
 CHALLENGES RELATED WITH THE DATA
 CONSUMER BEHAVIOUR DETAILS
 MANAGEMENT INFORMATION SYSTEM
 WAYS TO STORE DATA AND INFORMATION
 IMPACT OF TECHNOLOGIES DEVELOPMENT ON ROLE AND USE OF DATA IN BUSINESS DECISION MAKING PROCESS
 THE WAY INFORMATION AND DATA IS USED IN DAY TO DAY OPERATION OF ORGANIZATION AND ITS STRATEGIC
IMPORTANCE RELATED TO FIRM
 CONCLUSION

INTRODUCTION
 Type, volume and source data and information collected internally or externally helps the
businesses in taking the decisions of the organization.
 With the help of data based on the fact, trends and the statistical number, it provides the
business leaders and operational managers in making the best and suitable decisions in the
favour of the company.
 So in the same context, the report will discuss the type of data based on its volume and
source that the Retail industry for example Unilever company of the UK uses in the
decision-making.

TYPE OF DATA USED BY RETAIL INDUSTRY
 The type of data collected by the Unilever company in order to take
the business decisions are 1st party data.
 1st party data are the information that the organization collect from
the customer directly by analysing the activity of the visitors on the
companies websites, consumer's behaviour and interest and by
analysing the social media platform of the Unilever company.
 For retail industry the customer's data is the key which help the
managers of the business in taking the decisions regarding whether to
continue the operations of the particular product or not.
 The customer data helps the Unilever company in taking the
decisions related to the operations of the food products for all age
groups.

CONT.
Personal data
 In this, the organization collect the personal details of the customer is collected from the laptop and
mobile devices of the customer's such as gender, non-personally identification number, social security
number etc.
Engagement data:
 In this the data is collected related to the interaction of the customer's with the companies websites,
social media pages, mobile apps, emails and paid ads.
Behavioural data:
 In this the data related to the behaviour of the customers is collected such as the purchase history of
customers, repeatedly product usage information and mouse movement information of the qualitative
data.
Attitudinal data:
 In this the information related to the attitude of the customers with the product of the company is get
collected.

ORTHODOX MARKET RESEARCH AND
BIG DATA
 Orthodox market research is the process of visualizing the
demand of the new product or services of the company in the
market through the thorough research.
 The research is related to the interest of the customer on the
product and services of the company.
 The common market research that the company use in their
decision-making process is surveys, interviews, focus groups
and customer's observations.