Role of Information and Data in the Retailing Industry

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