Data Management in Business Decision Making Process

Data management

Table of Contents
MAIN BODY ..................................................................................................................................3
State what type of data is collected and used by the organisation and if this is Big Data, and if
this is primary or secondary data................................................................................................3
Describe orthodox market research and how this is different from Big Data.............................3
Explain how information is captured and stored with key references to types of databases and
management information systems...............................................................................................3
Describe the impact of technological development on the role and use of data in the business
decision making process within your chosen sector...................................................................3
Set out how information and data is used within the day to operations of organisations within
that sector and what is its strategic importance to the organisation within its sector.................3
Set out outline for research into improving data capture and use in a sector/organisation.........3
REFERENCES................................................................................................................................4

MAIN BODY
State what type of data is collected and used by the organisation and if this is Big Data, and if
this is primary or secondary data
The organisations generally prefer to collect secondary data in order to collect precise
and systematic data (Ferraris, Mazzoleni, and Couturier, 2018). The secondary data helps an
organisation to make quick decisions and cost effective approach.
Describe orthodox market research and how this is different from Big Data
The orthodox market research is considered as key approach in research as it includes
ideas and beliefs which are preferred by most of the people. Big data includes information and
data is represented in unstructured and semi structured form. The Big data includes large amount
of data and orthodox market research includes less data.
Explain how information is captured and stored with key references to types of databases and
management information systems
The information is stored and captured in different types of databases and management
information systems in the form of tables (Lai, Sun, and Ren, 2018). Tables are most simplest
form of storing an information for a longer time period.
Describe the impact of technological development on the role and use of data in the business
decision making process within your chosen sector
The information and technology plays a key role in facilitating decision making with the
help of decision support system. Technological development also increase the chances of data
security and other major cyber security issues (Piryonesi, and El-Diraby, 2020). It is key role of
a business to focus on implementation of best technological tools to facilitate data management.
Set out how information and data is used within the day to operations of organisations within that
sector and what is its strategic importance to the organisation within its sector
In the retail sector, the information is stored with the help and support of advanced
computer systems and software. The information is used to perform data analysis and also
calculate management of data with appropriate approach. The information is also used in day to
day tasks of the company to manage key operations related to big data management. The
strategic importance of information and data management is, it helps in future management of