Data Collection and Analysis for Making Business Decisions

BUSINESS DECISION-
MAKING

Table of Contents
INTRODUCTION...........................................................................................................................4
1.1 Collection of primary and secondary data.............................................................................4
1.2 Survey methodology and sampling used in research.............................................................5
1.3 Designing of questionnaire....................................................................................................6
TASK 2............................................................................................................................................7
2.1 Summarizing 12 month sales of two main lines of Kitchen Designs....................................7
2.2 Analyzing the results of mean, mode and median.................................................................8
2.3 Assessing measures of dispersion..........................................................................................9
2.4 Computation of quartile, percentile and correlation co-efficient...........................................9
TASK 3..........................................................................................................................................11
3.1 Graphical presentations........................................................................................................11
3.2 Trend line for forecasting future..........................................................................................14
3.3 Business presentation...........................................................................................................17
3.4 Formal business report.........................................................................................................26
TASK 4..........................................................................................................................................27
4.1 Information processing tool to manage inventory...............................................................27
4.2 Preparation of project plan stating critical path...................................................................28
4.3 Examining the viability of the project through capital budgeting.......................................31
CONCLUSION..............................................................................................................................32
REFERENCES..............................................................................................................................34

INTRODUCTION
In the corporate sector, the role and responsibilities of the managers got increased over
the years as they devise plans, strategies & decisions and align all these with the set corporate
targets. Moreover, with the changing market conditions, managers also make internal as well as
external analysis and modify plans accordingly to raise long-term profitability and assure
sustainable growth. Kitchen Design Ltd is a well known contemporary kitchen installation
distributor organization that sells wide range of products & services such as utensils, cabinets &
others. Now, in order to widen its goods portfolio, company is planning to explore opportunities
by introducing bathroom design & equipments. Thus, the present assignment focuses on
demonstrating the knowledge of data collection & storage techniques. Along with this, skills &
tools required to analyse useful business information will be presented for making excellent
business decisions.
1.1 Collection of primary and secondary data
On the basis of cited case situation, Kitchen Design Ltd offers unique goods, utensils and
cabinets to the customers. Now, with the aim to enhance productivity and profitability business
unit is planning to offer bathroom equipments or products to the customers. The rationale behind
this, with the rise in disposable income, now living standard of people increased with the very
high pace. Hence, in this context, business entity has chance to capitalize such opportunities and
thereby fulfill organizational aims and objectives (Alexakos and et.al., 2016). In this regard,
researcher has gathered data from both primary and secondary sources to assess customer’s
preferences and attitude towards bathroom equipments in the following way:
Primary data collection: Primary data refers to those which are gathered by scholar for the
first time with the aim to address research issue or purpose. Such database is highly effectual
which in turn offers clear and specific information in accordance with the problem which is
going to be investigated. There are several methods that can be undertaken by scholar for the
collection of primary data namely interview, survey, observation, focus group etc (Prada-
Ramallal, Takkouche and Figueiras, 2016). All these methods are highly effectual which in turn
enables firm to gather suitable primary data. In this, to get information about customers needs,
wants and expectation about bathroom equipments survey will be conducted by scholar. Hence,
researcher will prepare questionnaire by including both close and opened questions in relation to

product, price, place as well as promotion. Thereafter, scholar will send such questionnaire to the
30 customers of Kitchen Design Ltd. In this way, by following such process scholar will collect
primary data.
Secondary data collection: Secondary data implies for the one which has already been
gathered and published by other scholars. Books, journals and scholarly articles are the main
secondary sources that can be undertaken by scholar for the collection of secondary data (Van
Nieuwenhuysen and et.al., 2016). Hence, to gather information about the trend of bathroom
equipments and customer behavior towards it secondary data has been gathered by scholar
through the means of scholarly articles and government report. Such sources enable researcher to
assess the kind of bathroom equipments that are available in the market. Besides this, data also
has been gathered by the scholar from books to generate information about customer purchasing
behavior and attitude. By using such information scholar would become able to present fair
solution of issue to the significant level.
1.2 Survey methodology and sampling used in research
Survey methodology: It entails the overall framework or strategy which will be employed
by researcher to conduct investigation. It is the tool which in turn provides high level of
assistance to the researcher in gathering data more effectively and efficiently (Pritchard, Moura
and e Silva, 2016). In order to gather primary data online survey will be conducted by scholar on
30 existing on Kitchen Design Ltd. It is the most effectual method of conducting which in turn
provides high level of assistance to the researcher in gather data within the suitable time frame.
In this regard, researcher will primarily acquire the mail id of customers and thereby send online
questionnaire to them. Hence, by following all such steps researcher will gather primary data and
thereby presents the extent to which people have interest in relation to purchasing of innovative
bathroom equipments.
Sampling Frame: Subset of the population which having same characteristics is known
as sample. Further, sample selection is one of the main aspects of survey which in turn helps
researcher in conducting investigation in the best possible way (Alyahya and Rowe, 2016).
Moreover, due to having limited time researcher is not in position to conduct investigation on

whole population. Further, limited financial resources are other main aspects that have direct
impact on investigation and its outcome. In this way, sample helps in determining faster results
by saving both time and money. In this regard, by making use of probabilistic and non-
probabilistic techniques researcher can determine suitable sample size. Probabilistic techniques
imply for the one in which each customer of Kitchen Design Ltd gets equal chance to being
selected as sample such as simple random, systematic, stratified and cluster. On the other side,
non-probabilistic may be defined as one in which researcher selects sample by considering the
research aims and objectives namely quota, convenience and judgment etc. In the present study,
to get information about customer’s preference simple random sampling technique has been used
by scholar. Hence, by employing such technique 30 customers of Kitchen Design Ltd has been
selected by scholar. In this way, by conducting study on such people scholar can assess the kind
of bathroom equipments which are preferred by the customers.
1.3 Designing of questionnaire
Demographic information
Name ,......
Age ...........
Income .......
1. Do you prefer to make purchase of cooking equipments from ‘Kitchen Design Ltd’?
 Yes ()
 No ()
2. Are you satisfied from the quality of kitchen equipments which are offered by the firm?
 Satisfied ()
 Highly satisfied ()
 Neutral ()
 Dissatisfied ()
 Highly dissatisfied ()
3. Do you agree that products of kitchen design Ltd offers high value for money?
 Agree ()
 Strongly agree ()
 Disagree ()
 Strongly disagree ()

 Neither agree nor disagree ()
4. From the following factor which one has high level of impact on your decision while making
purchase of bathroom equipments?
 Quality ()
 Uniqueness ()
 Price ()
5. Which promotional means have impact on your awareness and purchasing decision?
 Social media ()
 Newspaper ()
 Television ()
6. Do you want to make your bathroom stylish?
 Yes ()
 No ()
8. Would you prefer to purchase bathroom equipments from Kitchen Design Ltd?
 Yes ()
 No ()
9. How much do you ready to pay for bathroom equipments?
................................................................................
8. Do you want to give any recommendation for further improvement (Kindly specify)
TASK 2
2.1 Summarizing 12 month sales of two main lines of Kitchen Designs
Sales figures of two main lines of Kitchen Design Ltd from January to December are as follows:
Months Country (000 £) Minimalist (000 £)
January 90 430
February 80 360
March 130 350
April 170 350
May 240 320
June 280 330
July 290 310

August 310 300
September 300 300
October 180 370
November 140 400
December 90 420
Computation of mean, mode and median
Particulars Country ( in 000 £)
Minimalists ( in 000
£)
Mean 191.667 353.333
Standard Error 25.4901 12.9295
Median 175 350
Mode 90 350
2.2 Analyzing the results of mean, mode and median
Mean, mode and median are the most effectual statistical tools which in turn helps in
extracting valuable information from large data set. Moreover, mean provide deeper insight
about average figure of data set. On the other side, mode entails the figure that occurs on a
repeated basis. In addition to this, median implies for the mid value of data set (Özdemir, 2016).
In this way, by making evaluation of all such aspects business entity can take suitable decision
which aid in the growth and success of firm.
Outcome of statistical analysis shows that average sales of country and minimalists
capital line accounts for £191.67 & £353.33. On the other side, sales amount generated by firm
during 12 months from country and minimalists line on a repeated basis are related to £90 and
£350. Further, 50% of sales of both the lines are in relation to £175 and £350. Hence, by
considering all such aspects it can be said that average and median sales are highly similar
(Calculation of mean, mode and median, 2012). Thus, by placing emphasis on promotional
aspects company can enhance sales to the significant level. In addition to this, it can be stated
from analysis customers like to purchase appliances which are offered by Kitchen Design Ltd.