Using Data to Build Business Practice

This article discusses the importance of data collection in business practice and how to design a questionnaire to collect accurate primary information. It is suitable for small manufacturing companies looking to expand their business and provides examples of questions that can be asked to gather information. The article also highlights the reasons why primary data collection is preferred over secondary data collection. The subject is business, and the course code and college/university are not mentioned.

Using Data to Build Business Practice
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Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
Suitability of questionnaire as method of data collection............................................................3
Design a questionnaire to collect information.............................................................................4
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................6
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INTRODUCTION
Data collection is a process of gathering information relevant to specific topic (Clark and
Vealé, 2018). This study is based on small manufacturing company that wants to expand
business in South and have only branch in Newcastle. For successful expansion of business, it
wants to collect accurate information so; this study will discuss an effective ways of collecting
accurate primary information.
MAIN BODY
Suitability of questionnaire as method of data collection
Data collection plays a vital role in completion of study. In this study, small manufacturing
firm that wants to open a branch in the South but on the basis of published secondary data, it is
known that London has the highest birth and death rate of businesses (Ball, 2019). It has become
important for this company to collect all appropriate data regarding factors that is leading this
rises in birth and death rate along with strategies of businesses to become successful. Business
expansion is the big step so, employers need to consider every factors and appropriate decision
can be made by collecting accurate information.
In regard to data collection, it can be said that primary and secondary are 2 main types.
Primary data collection deals with first hand data that is never being used before. Whereas,
secondary data refers second hand data because they are published information on books and
journals and internet. For this study, primary data will be suitable and questionnaire is one of the
best ways or sources of collecting primary information. Questionnaire will be conducted from
customers in order to know all about birth and death rate of businesses in London. There are
number of reasons of selecting this data type and ways of collecting data.
The main reason of conducting questionnaire for collecting data is: to collect accurate
information (Pennay, Neiger, Lavrakas and Borg, 2018). It is believed that by conducting
questionnaire and asking questions from target people, employers can accomplish their goals by
collecting first hand data. They can know all current factors and trends that might affect birth and
death rate of businesses. So, it is one of the main reasons. Other main reason of conducting
questionnaire and collecting primary data is: protecting from plagiarism and copying of data.
Collection of secondary data can be inaccurate because of their easier accessibility and
publication date. With secondary data, people cannot collect recent or latest data and it is
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possible with primary data collection only. So, all of these are reason and it is believed that by
conducting questionnaire with customers of London, employers of this small manufacture can
know all those factors that can affect birth as well as death rate of businesses. Accordingly, they
can make decision regarding expansion of business and can use strategies for becoming
successful in London.
Overall, it can be said that by conducting questionnaire as well as collecting primary
information regarding current status of businesses and market in London, this company can
measure customers’ loyalty and can protect itself from failure of business expansion. A So, it
was the main reason of collecting primary information via conducting questionnaire.
Design a questionnaire to collect information
On the basis of above discussion, it can be said that questionnaire is one of the best ways
of collecting primary data as it gives accurate as well as latest information. As this small
manufacturer wants to open another branch in the south so, it wants to collect information
regarding current marketing condition of London (Mortensen and Hughes, 2018). So, it is going
to conduct questionnaire for customers in order to know factors that might affect businesses.
Some questions that will be helpful for this company include:
1. According to you why business of London is facing problems?
2. What is the main reason of failure of startups and businesses in London?
3. What are some external environmental factors that lead to rise in birth and death rate of
businesses in the UK?
4. What are some best strategies of successful businesses of London?
Justification for 1st question: In regard to question 1st, it can be said that it can make this
company able in knowing some reasons as why companies of London are facing problems. On
the basis of this information, company can consider all these problems and can protect itself from
failure.
Justification for 2nd question: The main reason of asking this question from local
customers is to know main reasons of failure of startups and businesses in London. This can help
out companies in making better decision regarding expansion of business. By knowing all
reasons such as: social factors and others, employers can minimize them and can take better
decisions.
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Justification for 3rd question: There are number of environmental factors that might affect
organizational goals. Some external environmental factors that play a vital role in affecting
overall performance of businesses include: social factors, technological factors, political factors,
changes in economic condition. So, on the basis of this analysis and answers, given by
Customers Company can make better decision. It can expand its business in an effective manner
and can increase market share (Brtnikova and et.al., 2018). By analyzing social and technical
factors, it can develop strategies and can satisfy customers’ need.
Justification for 4th question: After knowing all factors that might affect businesses and its
performance, it is important for this company to know strategies of successful companies so that
it can make itself successful and can expand business in a successful manner. By knowing
strategies, it can use the same one and can attract as well as retain customers with itself for the
long run.
So, on the basis of above designed questionnaire, it can be said that this firm can open a new
branch in London by considering all factors and information, gathered by this questionnaire.
CONCLUSION
From above report it has been concluded that data collection plays a vital role as it enables
employers in making decision regarding their business. It has shown effectiveness and reasons of
conducting questionnaire for collecting primary data with some examples of questionnaire. It has
further discussed reasons of collecting primary information.
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REFERENCES
Books and journals
Ball, H.L., 2019. Conducting online surveys. Journal of human lactation, 35(3), pp.413-417.
Brtnikova, M. and et.al., 2018. A method for achieving high response rates in national surveys of
US primary care physicians. PloS one, 13(8), p.e0202755.
Clark, K.R. and Vealé, B.L., 2018. Strategies to enhance data collection and analysis in
qualitative research. Radiologic technology. 89(5). pp.482CT-485CT.
Mortensen, K. and Hughes, T.L., 2018. Comparing Amazon’s Mechanical Turk platform to
conventional data collection methods in the health and medical research
literature. Journal of general internal medicine, 33(4), pp.533-538.
Pennay, D., Neiger, D., Lavrakas, P.J. and Borg, K., 2018. The Online Panels Benchmarking
Study: a Total Survey Error comparison of fndings from probability-based surveys and
nonprobability online panel surveys in Australia. The Australian National University.
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