Improving Business Decisions: Data Insights Application at ASDA

This report examines how Asda can improve its business operations by leveraging data insights. It explains the types of data collected, differentiates between orthodox market research and big data, and outlines effective methods for capturing data, emphasizing databases and management information systems. The report also discusses the impact of technological advancements on data usage in decision-making and highlights the strategic importance of data within Asda. Furthermore, it explores how research can enhance data collection and its application within the company, providing a comprehensive overview for managers aiming to improve business efficiency and effectiveness through data-driven strategies.

Data Insights for
Business Decisions

CONTENT
 INTRODCUTION
 Explain type of data that is being collected and used by organisation
 Define orthodox market research and differentiate it from Big data
 Explain methods helpful for capturing data key preference given to kind of databases and
management information system
 Explain effect of technological development on use and role of data in facilitating decision
making process.
 Explain how data and information is used on a frequent basis in company. Also define its
strategic importance towards enterprise within sector
 Explain how research would help to Improve collection of data and apply it in company
 CONCLUSION
 REFERENCES

INTRODUCTION
The report prepared below takes in account
working and improving functioning of
company Asda. It explains usefulness of big
data and how it can be applied in a firm for
better results and with what ways it can be
collected whether to consider primary data or
secondary.

Explain type of data that is being collected and used by
organisation
It can be explained as a process of collection, gathering and organising
information in a way that makes sense to the user. It helps to find
answer for related questions and keep a track record of related
consequences. It lays down an idea as how a company must function
and carry out operations well in time in relation to enterprise. Such
data can be explained with two forms:
 Primary data: In Asda company that deals in retail sector HR
manager is required to collect data that is fresh and collected on his
own.

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 Secondary data: It is a data which already
exists and on the basis of which one
predicts situations and chooses related
methods as well. These can be collected
with the help of questionnaires, interviews
and surveys as well that are done by some
other person.

Define orthodox market research and differentiate it
from Big data
 Orthodox market research can be
explained as a data that is collected
from traditional methods and sources.
It is collected from various sources that
helps the Manager to directly link with
employees and clients that are engaged
with the Asda organisation.

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Big data whereas is a vast and large term in case of data collection and gathering
complex data at one place. It is useful for developing strategies and policies by
manager that contribute in improving efficiency and effectiveness of Asda
organisation. This further helps to decrease cost and increase margin of profit. Big
data counts methods that would contribute in forecasting futuristic situations that
would be impossible to handle and thus plan in advance what can be done and how
can be done.

Explain methods helpful for capturing data key
preference given to kind of databases and management
information system
Data can be collected and kept at priority with the help of two sources that are hardware and
software. The information can be quantitative as well as of qualitative nature too.
 Management information system: It can be explained as a term that considers a computer
system that consist of software as well as hardware and proves to be an important function
in Asda company. It helps manager to collect data from various online sites and examine the
data that would help to prepare reports for facilitating decision making as well. It is more of
a technical way to collect data that can contribute in planning policies.

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 Data bases: : It can be defined as an structured evidence that is being kept in the system
and can be monitored by a Database management system. It further supports storing of
information electronically and alteration of data. Such system makes it easier for
Manager of Asda company to understand data easily and well in time.
Databases are developed in such a way that helps in storing, modifying
and deleting of data through certain operations that is not useful. It
helps to make decision making process better and carry out results
that would be beneficial.

Explain effect of technological development on use
and role of data in facilitating decision making
process.
Every organisation desires a advancement in technology being used by them so far as it
would help to provide results that are being expected by linked people. They can be external
as well as internal users too. Technology development can be through advancing research
and development methods In Asda by Manager. Further, it can be explained as techniques
that reduce wastage and eliminate related risk due to use of obsolete technology.
 It helps to collect data from useful sites that can be relied upon and is accurate as well. It
helps in increasing the efficiency of employees in working and carrying out best results
so far possible.

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 It eliminates risks that are involved in keeping the data safe and thus contributes
in securing the data that can affect Asda if any breach of information takes place.
Such techniques that help to keep data at places that are out of reach from
cybercrimes.
 It would also increase the quality of data that is being served to people by Asda
company and would help to eliminate any uncertainty if prevailing.

Explain how data and information is used on a frequent
basis in company. Also define its strategic importance
towards enterprise within sector
There are various ways that help Asda company’s manager to use the data collected
in different areas of retail sector to increase the working efficiency of firm. It also
helps to plan and develop related strategies and policies that would assess the
company to improve its performance in market as well. It is important because it
helps in:
 Maintain relations within and outside organisation: Data collection helps to
increase building of relations among employees as well as their relations with
customers too.