Role of Information and Data in the Retailing Industry

This report discusses the role of information and data in the retailing industry, including the types of data collected and used by organizations. It explores how data is used in day-to-day operations and provides an example of how data can deliver insights for business decision making. Additionally, it explains how market research studies can be used in conjunction with MIS and other database systems to increase insight.

Project

Table of Contents
INTRODUCTION................................................................................................................................3
MAIN BODY.......................................................................................................................................3
Explain role of information and data within specific industry or profession sector........................3
State what type of data is collected and used by the organisation and if this is 1st , 2 nd, or third-
party data..........................................................................................................................................4
Set out how information and data is used within the day to operations of organisations within that
sector................................................................................................................................................4
Explain how information is captured and stored with key references to types of databases and
information systems.........................................................................................................................5
Give an example of how data is used to deliver insight for business decision making within your
sector................................................................................................................................................6
Describe how market research secondary and primary studies can be used in conjunction with
MIS and other database systems to increase insight........................................................................6
CONCLUSION....................................................................................................................................7

INTRODUCTION
In this competitive era, use of technology has increased the scope & importance of data at
higher scale. In business sector, it has become essential to focus on gathering of reliable information
as well as data so that decisions are made appropriately. Morrisons, a largest supermarket firm
headquartered in U.K. Firm is located at global scale & has many competitors such as Tesco,
Sainsbury, Walmart, etc. Main aim of this project is to understand use of data & information within
a industry. This report comprises of role of data & information, type of data collected by entity,
information & data used within day to operations, capturing of information, examples of how data
is used and market research secondary concept of MIS & database systems.
MAIN BODY
Explain role of information and data within specific industry or profession sector
In retailing industry, it is essential to focus on appropriate use of data & credentials so that
decision making is done in correct way. Information & data both are important as they help in
improving business processes & used to measure performance of enterprise operations at larger
scale. Data are the raw facts which gathered during operations business. Whereas information refers
to a complete set of data this is useful for some purpose. In relevance of Morrisons, role of data as
well as information is wider because they use these two within their management & in market as it
help them gaining a detailed view of individual.
Role of data & information-
In retailing sector, it is essential to be aware about market & consumers as which is done by
using a detailed data & credentials. In relevance of selected firm, they also use these in effective

way as it assist them in analysing of gaining competitive advantage.
Analysis- Through using of data & credentials assist in accessing to competitor's strategy
properly & also help in examining of their product & services. In relevance of chosen firm, through
proper market information it is easy for them to implement strategy.
Sharing of credentials- Through carrying out this, it is easy to manage supply chain within
business & moreover it leads to accessing to customer preferences & their changing demands in
correct way.
Bar coding- It help in examining of data & transferring it into electronic form. In retailing
sector, bar coding is mostly used through which better data is gained. Moreover, it seen that data
which is collected through bar code is easily available.
Therefore, after analysing above matter it states that it is essential to focus on these roles of
data & credentials so that objectives are achieved in correct way. So, through proper examining
these roles it is easy to make decisions within a stated sector.
State what type of data is collected and used by the organisation and if this is 1st , 2 nd, or third-
party data
In retailing sector, data is needed to be used properly as it helps in making decisions within
entity. It is crucial to focus on these how data or credentials are collected. For example- in chosen
enterprise, human resources are responsible for gaining or collection of data within management.
There are various ways through which data is collected & are discussed below-
 First party data (Market) - It is a type of data which is gathered directly from audience or
from market. For example- in relevance selected entity they collect first party data through
carrying out research & analysis.
 Secondary data (Customers) - They those in which data is gathered through customer’s
word of mouth & for whom services are being prepared. In context of selected company,
they focus collecting this data through customers & which is shared on basis of trust.
 Third part data- Further comes third party in which information is gathered through
outside sources & data collectors. In this, it is gathered from various types of social
platforms & websites.
Therefore, Morrison’s uses these data with proper considerations so that it is easier for them
to implement new tactics & make appropriate decision. By using these types of data it is easier for
selected enterprise to use gather information in most effective manner and also help them in
implementation of business structure accordingly.

Set out how information and data is used within the day to operations of organisations within that
sector
Once data and information has been gathered and collected by corporation it is important
for them to use it in such a way that positive outcomes are achieved. Also in context of Morrison’s
they use these information’s within their day-to-day operations which are explained below-
 Research & development department- When data has been collected these are to be used
within business of patients and in relation of selected company the user's information as well
as data within their departments such as research and development who uses such
information’s for new area of knowledge etc. The R and D department ensure that data
which are being used are reliable as well as effective to achieve set objectives and goals.
 Manufacturing department- Other way in which data is being used is within the
manufacturing department of selected enterprise. Data use by research and development
department is further processed and are used in manufacturing department of company for
improving and developing products as well as services in market. It is crucial for
manufacturing department to use these information’s with proper confidentiality so that it is
not used by competitors. In retailing sector, manufacturing department plays important role
and it is duty of entity to provide them with needed credentials.
 Human resource department- It is a department which is responsible for hiring a selecting
deserving candidates who has the capability to deliver positive output and productivity. In
relevance of selected entity, data information is being provided and used within HR
department through different types of social media tools and browsing internet in a specific
field.
After analysing use of data within the department of a company it is seen that it is duty of a
manager to ensure that confidentiality is being maintained at prior level so that it is not used to in
wrong way.
Explain how information is captured and stored with key references to types of databases and
information systems
In context of organisation information is an important part which is directly related to
performance of everyday operation within the firm. In context of fashion industry it is deeply
dependent on their customers so it becomes important for organisation to gather the information and
store it in an appropriate manner. It includes number of systems which can be used by organisation
in order to capture the data and store it for utilising in future period. There are a number of methods
which can be used by organisation which are discussed below:
Interview: In this system organisation like Morrison use appropriate system which is helpful
to the organisation in asking feedbacks and response from the customers. This data is used by
organisation in order to retain the customer and identify their needs and requirements. This can be
collected by the help of questionnaire and telephone calls and emails.
Survey: Service most important thing which is required by the organisation in order to fulfil
and acquire the data so that it can use it to store and improve the functions of organisation. It
includes number of systems which are related to demographic and analysis of the needs by using of
various surveys.
Questionnaire: Questionnaire is also method which can be used by the organisation in order
to identify the current system which can be adapted to collect the information and improve its
functioning according to the requirements. It includes number of system which provides a
fashionable study and help in improving organisational performance.

There are a number of tools which can be used by organisation which are stated above so that
form can easily collect and utilise the data according to the needs and requirement.
Give an example of how data is used to deliver insight for business decision making within your
sector
Data is useful for Organisation in order to make effective decisions as well as achieve the
objectives of the organisation by implementing it on different decision making process. In order to
become a successful organisation will involve the market it is necessary for fashion industry to use
appropriate system which can be developed by the use of data in decision making process. There
are a number of systems which can be followed by Organisation in order to improve its functions
which are discussed underneath:
 Become clear with vision and value of the organisation to attend them
 Use expertise advice and analyse facility of data
 Appropriate use and formulation of hypothesis and visualising analysis of data from the
expert within fashion
 Draw the appropriate conclusion which can be used to carry out different actions and
formulate effective system.
These awesome system which can be used by the organisation in order to improve its
functioning as this will help company in looking forward and managing the function in an
appropriate way. Use of data will improve the organisational performance where Morrison can use
it to make decisions stronger. Data will clarify the organisation about the current trends within the
market which will directly impact on the organisational performance and will improve its
functioning. This is helpful to the organisation in achieving its objectives and managing function in
an appropriate way so that it can use the data according to the current trends and can improve its
decisions.

Describe how market research secondary and primary studies can be used in conjunction with MIS
and other database systems to increase insight
Management information system is an integral part of organisation which is helpful to the
organisation in designing in supporting the market decision as well as help in bringing appropriate
processes so that organisation can use the data and equipment in a combined manner. This is also
helpful to the organisation in improving its function in achieving the objectives by managing them
according to the requirements. This is the appropriate system which can be followed by marshal in
order to improve its function where there are a number of techniques which are discussed below:
Primary study: primary study can be defined as a system which is used to collect the fresh
data by the manager within the organisation in order to improve and identify the function. This data
is raw in nature which has to be process by the organisation according to the needs and
requirements. In context of Morrison, it is a global organisation where it uses appropriate system to
manage the data and collect it according to the requirements. Organisation uses various kinds of
methods in relation to collecting the primary data which include questionnaire and many others.
Secondary study: secondary study can be defined as a system which is directly related to
using a summary and synthesise information which is existing from past time. In context of
Morrison, organisation is also using this system where it is used various kind of hypothesis and past
information which are useful in conducting the research and collecting the data for future use.
It can be analysed that both the data collection system were directly linked to management
information system and are useful in identifying past present and future needs of organisation by
evaluating customer. The customer centric approach which is help in making effective decisions
within fashion industry and can help the organisation in designing its products and services in an
appropriate manner.
CONCLUSION
It can be concluded from the above mentioned information that information system is
appropriate function which can be used by Organisation in order to identify its benefits. It is
identified that there are different type of data which are collected by the organisation and use to
manage. This information system also includes various operations with organisation sector. It is
identified that management information system is useful to the organisation and will provide
appropriate insight about the business decision making.

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