Data Insights for Business Decisions in the Footwear Industry

MG413 Data insights
for business decisions

Contents
Contents...........................................................................................................................................2
INTRODUCTION...........................................................................................................................1
MAIN BODY..................................................................................................................................1
1. Identification and outlining the role of data and information within the industry or the sector
of profession that has been chosen above....................................................................................1
2. Examination of the type of data that has been collected and used appropriately by the
company and explaining it with the context that is this is first, second or third party data.........3
3. Set out how information and data is used within the day to operations of organisations
within that sector..........................................................................................................................4
4. Explain how information is captured and stored with key references to types of databases
and information systems..............................................................................................................5
5. Give an example of how data is used to deliver insight for business decision making within
the sector that has been chosen above.........................................................................................7
6. Describe how market research secondary and primary studies can be used in conjunction
with MIS and other database systems to increase insight............................................................7
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
The business firms that is operating in the current market irrespective of the industry in
which it is operational all puts a lot of attention on the analysis and evaluation of the data
insights and that too in an accurate and precise manner so that it can help the company to grow
and prosper in the long term scenario. Thus it becomes very important as well as crucial at the
same time for each and every company to examine its data in an elaborated manner so that in
case it needs any rectifications it can be done and implemented well within a limited time frame
that can add value to the organisation in the long run. In this presentation there is a detailed
examination, elaboration, analysis, and evaluation done on the footwear companies that are
operating in eth current market environment that is highly competitive as well as dynamic in
nature. Apart from that this presentation also covers different aspects that possess a lot of value
in the industry like the approaches that has been used for the collection and evaluation of the
data. Further this presentation also includes different market researches that are prevailing in the
current industry, examination of the database structure of the company, impact of the
development in technology with respect to the enterprise, using of data in an appropriate manner,
and outlining research so that capturing of data can be done in more smooth way are all the rest
topics that are covered and included in this presentation.
MAIN BODY
1. Identification and outlining the role of data and information within the industry or the sector of
profession that has been chosen above
It is very important to have a deep knowledge about the market conditioning since
footwear industry is one of the biggest markets and also fetches a considerable amount of
revenue with global context. Marketing helps many companies to establish themselves in the
industry since it proves beneficial in reaches a large number of people and that too within a
limited time frame. There has been a consistent growth in the industry of footwear and thus it is
very crucial to analyse and evaluate each and every situation in detail so that it can help the firm
to sustain and survive in the market of stiff competition for a much longer time period as
compared to its rivals that are also operating in the similar market conditions. Thus it is very
essential to monitor and examine the information and data that is related to the company and
impacts its performance in the long run so that it can be used to its advantage by implementing