Data Insights for Business Decisions

DATA INSIGHTS FOR
BUSINESS DECISIONS

Introduction
 Data insight can be defined as a kind of deep understanding of an organizations or individual’s
gain by analysing data or information on a particular issue.
 It further help an organization to make effective and better decisions that can further help them to
enhance their insight, lead actions that can increase efficiency of business that can further
enhance efficiency, revenue and profit of an organization.
 This presentation will focus upon type of data collected and used by organization, orthodox
market research and ways in which it differ from big data, ways in which information is captured
and stored with key references to types of databases and management information systems,
impact of technological development on the role and use of data in the business decision making
process, ways in which information and data is used within the day to operations of
organisations, ways in which data capture can be captured and used within organization.

Type of data collected and used by organization if
it is big data and if it is first, second- or third-
party data
Type of data used in the industry Is it Big data Is it 1st, 2nd, or 3rd party data
Details of customers is one of the most
important type of data which is being
used in this industry
Yes, data or information stored about
customers is a big data and it is used to
identify type of customers, their preference
and ways in which they use organization’s
products and services.
It is a 1st party data in which data about
customers is collected and managed by
themselves. This data is collected in the form
of customer feedback, organization’s
application and website.
Non-traditional type of personal data of
customers such as photos, videos etc.
Yes, it is a kind of big data and an important
type of data which is collected by Facebook
because it directly help them in
understanding type of data which is being
preferred by their customers, posted and
shared by them.
It is third party data which is being collected
by organization for understanding type of
data that customers prefer posting and
sharing. This data is collected by Facebooks
application or website.

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Data collected by other organizations
with whom they have collaborated with
or who uses Facebook as a platform for
sponsorship
Yes it is a big data which is being used by
organization for expansion of their
business and customer segment as well.
it is a second party data which is used by
them for attracting a greater number of
customers and expand business by
collaborating with other organizations.