Using Data to Build Business Practice

This report examines the use of data in business practice, focusing on the renovation of a small B2B firm. It argues that a questionnaire is the best method for data collection, outlining the data required and providing a sample questionnaire with justification. The report concludes by emphasizing the importance of data-driven decision making for business improvement.

Using data to build business
practice

Table of Contents
INTRODUCTION...........................................................................................................................3
DISCUSSION..................................................................................................................................3
Why the questionnaire is the best method for this project..........................................................3
What data needs to be collect......................................................................................................4
Designing of the questionnaire to collect data with right justification.......................................4
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
Using of data into the business practice is necessary to make several changes or any kind
of renovation in an organisation restructure or rebuilding of it. This is important, because it helps
various business entities to get views, opinions & advices of people to make changes either as
per their choice or following what going into current trends (Kung and Byrd, 2018). Usage of
data helps to make several decision making on matter how business will operates, what are
relevant decision making are required to rise the revenue level of profit. This assessment will be
carried on small B2B firm with 20 rooms has planned to renovate their premises to raise an
occupational level. In addition to this, assessment will put light on suggesting why questionnaire
would be best method for data collection and what kind of data will be collected. Lastly, this
brief report will contain prepared questionnaire to collect data for purpose of data collection in
context with renovation of the premises.
DISCUSSION
Why the questionnaire is the best method for this project
Questionnaire is termed as research instrument which consists of a series of questions of
for the major purpose of gathering information from respondents. This tool contains the series of
questions that are meant to be asked by the customer's. These type of questions are combination
of open-ended and close ended question (McKenny, 2017). Long term questions are required to
be asked by people or customer's to leave their thoughts or idea to make any kind of alteration or
changes. Also, a validity of these data collection technique will be long for future period and
information will be beneficial for long duration. In this renovation project, questionnaire is
helpful to gather data and information from their customer's to get their valuable advices on what
renovation or correction needs to be made and what will be its suitability. Renovation can be
made for rooms, inside decoration, additional facilitates, interior etc.
Well-structured questionnaire will helpful to get people's actual point of view along with
their mind adversity what they are their opinions as well as suggestion over this renovation.
Questionnaire will provide valid choices of which and what kind of renovation from given option
to be made and also led decision making over this matter. Apart from this, data collection
through this techniques will give sample pre-defined occupation rate and sample figure revenue.

What data needs to be collect
` Data is a defined information which is collected with some purpose and it has its own to
be get use in the future. For this renovation project, data related to making changes in premise's
interiors, furniture or overall decorative to bring active look to raise occupation rate and revenue
of this small business (Arunachalam, 2018). Questionnaire will contain option for renovation to
be made in what area – whether interior of all the rooms, changing of the furnitures or bringing
additional facilities to the premises etc. In this renovation project, data/information related to
make changes in room paints, wall design, changing lights or interior items of the premises will
be taken care along with ease and readiness to make decisions on spot. For validity of defined
data, questionnaire needs to be clearly structured with relevant question which has to be asked.
Designing of the questionnaire to collect data with right justification
As asked by the manager, different idea, views & opinion has been judged to make clear
and effective questions to be asked (Grant, 2017). There will be minimum 10 question which
will be asked to customer' or people.
Questionnaire
Name:
Age:
Gender:
1. Are you agree with renovation which needs to be made?
(a) Yes
(b) No
2. What can be a major reason for renovation as per your thinking?
(a) Outdated look
(b) Changing customer's point of view
(c) Trends of person's outlook has been changed
3. On what area's renovation needs to be implement into the business premises?
(a) Interior
(b) Decorates
(c) Furnitures

(d) Lighting
4. What can be positive impact of these renovation to be made?
(a) Brand image will rise
(b) Higher customer's acquisition
(c) Increased profitability
5. Do you have any idea over estimation of final cost which will incurred into renovation?
(a) 1500-1700 pounds
(b) 1700-2000 pounds
(c) More than 2000 pounds
6. Do you think results of attempted this renovation will be suitable or not?
(a) Yes
(b) No
7. Are you agreed that this renovation will help to this small business to overcome their
rivals?
(a) Yes
(b) No
8. Is that suitable to rise up the prices of rooms just after the renovation?
(a) Yes
(b) No
9. Any recommendation
…......................................................................................................................................................
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Justification:
First question was asked to know respondent's point of view or relevancy to led renovate
to premises of this business, second question will be asked to know major influential for above
renovation might be because of old look etc., third question has been asked to elements or zones
on which renovation will be best suite, fourth one will be ask to know positive impact of this
renovation needs to adopt and fifth question has been asked to know any idea over estimation of
costs. This also involves one question related to overcome rivalries to enhance business revenue.

CONCLUSION
From the above report, it has been concluded that data is required to generate necessary
information to make changes or renovation in any business premises or business structure. Also,
questionnaire has been resulted into data collection in an appropriate and productive manner for
getting the valid and relevant suggestion for making changes. This research tool has ruled out for
effective conduction of any project related making changes or finding valid conclusion of any
topic.