Business Analysis Report for BUS5004: Data Analysis Techniques

This business analysis report delves into the significance of population and sampling techniques in research, differentiating between primary and secondary data collection tools. It examines the benefits and limitations of both primary and secondary data, including accuracy and efficiency. The report also covers the calculation of mean, mode, and standard deviation, providing a statistical analysis of data. Furthermore, it emphasizes the importance of an effective management information system within a company, highlighting its role in decision-making and overall business performance. The report provides detailed analysis and real-world examples to illustrate the concepts discussed.

BUSINESS ANALYSIS

Table of Contents
Question 1........................................................................................................................................3
Significance of Population and Sampling techniques in the research....................................3
Question 2........................................................................................................................................5
1. Difference between primary and secondary data collection tool.......................................5
2. Benefits and limitation of the secondary & primary data...................................................7
Question 3........................................................................................................................................9
Calculation of mean, mode and standard deviation................................................................9
Question 4......................................................................................................................................10
Effective management information system as an important part of company.....................10
REFERENCES..............................................................................................................................13

Question 1
Significance of Population and Sampling techniques in the research
Population
Population is generally defining as a collection of the large individuals or the object
which has to be at the main focus in the survey or the interview. Population in the research is
generally define as a group of the individual in the research which used to have a common
characteristic or having common set of the interest in the market. All the population in the
research generally used to have a common binding for example: “Government officials” is the
group of the individual who used to work for the same interest in the market, this individual can
be consider as a population group to conduct at the survey or interview in the market (Pipeleers
and et.al., 2017). As per the Theoretical population theory of population it has been described
that target population is usually used to has the varying characteristics and known as theoretical
population. There are variety of the different type of significance which is brought by population
in the research. Some of the significance is as follows:
Data gathering: It is the first significance of having population in the research, as
population used to consist of the variety of different type of respondent who used to have
different characteristic. Scholar or the researcher see the good amount of the help from the
population in terms of gathering the variety of the information in the research. Population are the
one who are having the certain amount of the knowledge about the event which has generally
occurred. As a result, they used to provide the information about the same to the scholar and
scholar used to form the basis of research on same. Questionnaire filling, man to man interview
which is used in which variety of the different question are targeted toward the population to find
out the view point of variety of the different population in regards of the topic of the research.
Provides alternative: It is another important significance of population in the research,
as to gather the different information it is very important for the scholar to have different view
point of different population in the research. This eventually used to help the scholar in opening
up the variety of the alternative in context of the selection of the respondent which can be used
by the scholar in the research to conduct any sort of the research in the market (Sverrisdóttir and
et.al., 2019).
Enhance efficiency of data gather: Data can be gather from the variety of the different
magazines and article whom has collected the data for their purpose in the past but gathering the

data from the population in direct used to help in understanding the real case data and also help
the researcher in getting more fresh data or the information as compare to the past in the
research. As generally all the respondent in the population used to has different type of thinking
brain in general, these eventually used to help the scholar in getting the variety of the different
aspect of the event in the better way. For example: In collecting the information in regards of
holiday pay scheme, there was a good sort of the opportunity in front of me to collect the
information from the magazine of the organization, as there was a survey which was conducted a
six year ago but I have decided to collect the data from the colleague once again, reason behind
the same is identified that point of view used to change as change in the time this has eventually
helped me in improving the efficiency of variety of the data which has been collected.
Sampling techniques
Sampling is the process of selecting a base or the group of the individual from the last
number of the population in general. There are two commonly used sampling technique which is
used to find out the sample of the respondent on the basis of which different research are
conducted by the Scholar. First one is the Probabilistic sampling method, it is the type of the
sampling method in which a group of the sample in the organization is selected by giving all the
respondent a chance to get selected in the sample group of the company (Zhu and et.al., 2018).
At the same time Non-probabilistic sampling technique is the technique in the organization in
which group of the sample is selected by not offering the chances to all the respondent to get
selected in the sample base of the organization (Significance of sampling techniques, 2017).
Using this sort of the sampling technique used to bring the variety of the different type of
significant for the research. Some of them are as follows:
Focused data: In generally collecting the data from the population is really a tough task
to be performed in general. As population generally includes the large number of candidate and
also collecting the data from the large population used to create the variety of the issue in regards
to gather the focused data in the research. For the same reason sampling techniques in the
organization used to help the company in getting the small number of the respondent in the
research and on the basis of the same the research can be conducted. It will eventually help the
scholar in focusing on the specific information which is required by the scholar in the research.
For example: In the case of collecting the information in regards of the holiday pay scheme it
would get very difficult for me to collect the variety of the information from all the respondent

and collecting the information very specifically as well. So for the same reason if I would have
selected the sample from the sampling techniques it would have eventually helped me in
collecting more focused information in the research.
Efficiency: Sampling technique in the research used to improve the efficiency of variety
of the different type of the data collected in the research. As collecting the information from the
whole population used to ask the researcher in investing the good amount of the resources to
contact the respondent and gather the variety of the different data and analysis. Using Sampling
technique in the research used to eventually cut down the amount of the respondent in the
research these ultimately get easy for the researcher to connect the respondent in the research and
on the basis of the same different research can be conducted that easily in the research (Vu and
et.al., 2019). This eventually used to save the time of the respondent in the research which
eventually help the company in improving the efficiency of variety of the information collected
in the research. For example: If in the research of collecting the information regarding the
holiday pay scheme, I would be collecting the information from whole number employee, it will
take time for me to choose the communication method through which I would be connecting the
respondent and passing on the questionnaire and gathering them back at the same time if sample
size will be less than it will get easy for me to collect the variety of the information in lesser time
in the research.
Question 2
1. Difference between primary and secondary data collection tool
Outcome of the research is generally conducted on the basis of the variety of the different type of
the data which has been collected in the research. There are two different type of data collection
tool which can be used to collect the different data (Difference between primary and secondary
data collection, 2017). Difference between the two data collection tool are as follows:
Basis Primary Data Collection Secondary Data Collection
Meaning Primary data collection, as the
name suggest is the data which
has been collected for the very
first or the primary time in the
research (Harvey and et.al.,
At the same time secondary data
collection is the data which has
been collected from the different
source of the data collection who
has collected the variety of the data

2019). This generally means that
data collected with the help of
primary data collection tool used
to give the data which has been
collected for the very first time
from the source who have collected
the data in the past for their
purpose.
Nature of data collected Looking at the nature of the data
collected it can be said that with
the help of primary data
collection tool generally fresh
data are collected in the research.
As data which is collected is
collected for the very first time
and the data is very new in the
nature.
At the same time data collected with
the help of the secondary data
collection tool is not fresh in the
nature, as the same data has been
already used by the scholar or many
other scholar for the purpose of
conducting there sort of the research
in regards of their research.
Accuracy Data collected with the help of
primary data collection tool is
more accurate as compare to the
secondary data collection. As
primary data collected is the data
which is collected from direct
individual who is witness of
event, so the data has not been
manipulated.
At the same time in the case of
Secondary data collection data is
not that accurate reason behind the
same is identified that there is
possibility that the data which has
been collected by other scholar may
have manipulated the data
according to their need (Sahoo and
et.al., 2019).
Time to gather different
data
Primary data collection tool used
to consume the better amount of
the time to collect the variety of
primary data. Reason behind the
same is identified that to collect
the primary data there is a good
sort of the process which need to
Secondary data collection tool used
to take less amount of the time in
the research to gather the variety of
the data as scholar just has to go
through the different data which has
been collected in the past which do
not used to take less period of the

be followed in the research.
Process starts with selecting the
sample size, sending invitation to
them after that surveying or
interviewing them and on the
basis of the same data are
collected. So primary data used
to take larger amount of time to
collect the data.
time for the researcher to collect the
secondary data.
2. Benefits and limitation of the secondary & primary data
Primary data collection is the data collection tool in which the data is collected for the
very first time from the occurrence of event itself. It is the data which are generally gathered for
the very first time and data is fresh in nature.
Advantages of Primary data
Reliable- the data obtained through the use of primary sources are considered as reliable
or replicate because it is being collected directly in connection with the respondent or the
participant.
Resolves particular research problem- Performing the own research allows in
addressing and solving the issues with regard to the business situation (Corrado and Fabrizio,
2019). The obtained information is counted as exact and first-hand data as it is not already
available in magazines or books.
Accurate- the primary data is seen as much more correct and accurate as it is directly
gathered from given population.
High level of the control- It helps in designing the research with ease and effective
controlling. This is because it ensures full control over the manner in which an information is
been collected.
Updated information- The primary research acts as the great source of the latest
information as it is being collected directly from field in real time (Skurpel, 2016). Thus, it
provides more of upgraded data rather than the secondary data.

Owner of information- A data gathered by scholar is counted as their own and is not
shared with the others. Thus, an information could remain as hidden from the other potential and
the current rivalry or competitors.
Disadvantages of primary data
Expensive- It can be expensive for obtaining the primary data as marketer needs to begin
from starting. This means they are required to follow entire process of study, organizing the
material, process etc.
Time consuming- It is being considered as the matter of ample of time for conducting
research from scratch to end. It seems as much longer process in comparison to time needed in
collecting the secondary sources' data.
Could have lot of restrictions- It limits to particular time, number of the respondents
and place. In order to make comparative analysis, secondary data could come from range of the
sources for giving more detailed information.
Lengthy process- In some cases it is not deemed as possible to make primary analysis of
the data because it is indicated as the lengthy or long procedure as it involves structuring
questionnaire, conducting survey etc.
Secondary sources of the data depict the information that is readily available from the
other sources. Such type of data is counted as cheaper and could be obtained on quick basis by
making use of internet, articles, books and journals.
Advantages of Secondary data
Economical- This type of data is considered as economical in the nature as it involves
very less cost and efforts to obtain an information by using this method.
Time saving- It is the most useful method of obtaining information because it requires
very less time by just accessing online sources.
Helps primary data- It enables in making the primary collection of data as more specific
because with helps of secondary data only, it seems as difficult to make out gaps & deficiencies
along with an information which needs to be gathered.
Assist in understanding problem- It helps in improving the understanding of problem
in effective and efficient way.
Comparison- This source facilitates the basis for comparing the data which is been
obtained by scholar or an investigator.

Disadvantages of secondary data
Inaccurate data – Under this the information obtained might be accounted as
inappropriate or inaccurate because existing data is being used for making analysis which could
be wrong or incorrect (Matuszyk and Rymkiewicz, 2018). This means that the data collected by
own seems as more accurate as compared to using already available information.
Lack of the control- Official institution and the government often provides guarantee of
the quality data but it is not true in all the cases which reflects the quality issues.
Question 3
Calculation of mean, mode and standard deviation
a. Mean- It is defined as the statistical or mathematical average which means as
summation of all scores in the distribution dividing it by total number of the scores. It represents
the average value of the dataset which is indicated as centre of the gravity or as balance point in
group of measures. It is easily got affected impacted by change in magnitude of any measures.
b. Median- It is counted as that value of variable that divided group into 2 equal parts
where part 1 consists of all the values higher & all the other value lesser than mid value (Wei and
et.al., 2019). It is revealed as series in which value of an actual or estimated item in case the
series is been arranged in the set of magnitude into 2 main parts.
c. Mode- It means as the value which appears the highest number of the time in the series
of data. It is the measure of a central tendency for the data that is been found by determining
most frequent item in the data. In a specific dataset, there could be more than a single mode and
or else no modal value.
Particulars
Amount
(£m)
Amount
(£m)
2017 2018 Mean Median Mode
Sales 2335 2277 2306 2306 0
Gross profit 264.8 15.1 139.95 139.95 0
Operating profit 71.3 481.3 276.3 276.3 0
Net profit 48.8 -461 -206.1 -206.1 0

Interpretation- The above analysis shows that average sales value of 2017 & 2018
accounted as 2306 which shows that the firm generated averagely pound 2306 million as its
sales. However, the revenue income is declining over the years due to increase in company's
variable cost. The mean value of GP resulted as pound 139.95 million with decrease in value
with higher amount from one period to other because of greater increase in cost of goods sold.
Further, the average value of an operating profit evaluated as 276.3 which shows that the
company is earning an average profits equating to pound 276.3 million. It has also been
represented that over a period of 2 years, the operating profit of an entity is increasing which
reflects that operating expense of the firm is declining with a higher value and shows better
operational performance of corporation. Moreover, average mean of net profit attained as -206.1
which clearly presents that the company is facing net loss currently. The median value of all the
items resulted same as mean value as data of 2 years has been assessed and the modal value
ascertained as 0 because the number does not repeat or accounted same in both the years.
Question 4
Effective management information system as an important part of company
MIS refers to the computer system comprising the software & hardware which serves as
backbone for company's business operations. It gathers the data from the multiple online
platform, assesses an information and reports the data for helping the management in making
suitable or appropriate decisions. It enables in using the formalized process to facilitate the
management in making timely decisions for the planning, controlling & directing activities of the
business effectively and efficiently (Meeßen, Thielsch and Hertel, 2020). MIS system facilitates
reports which allows the managers in keeping business on road and in setting the performance
standards & alert owners of the business take appropriate steps for ensuring control and getting
the task performed in accordance to the strategies framed. An effective MIS helps in gathering
all the crucial information regarding the business operations. For instance- It facilitates the data
on sales, profitability of the customers & level of penetration in market. Employers or
supervisors receives the report relating to productivity, no. of the sick days taken & payroll
budgets. Such data is being used for evaluating performance of and employee and the company
as a whole.
It is true that the use of effective management system is very essential for the company to
involve MIS in the process of the business. the major reason for this is that the use of MIS makes

the decision making much better. Thus, this improved decision making assist the company in
taking more appropriate decision for the development and betterment of the company and its
process.
The first and foremost importance of the MIS for Debenhams is that this assist the
company in recording of all the information and facts and figures and the data relating to all
aspects of the business. This will assist the company in managing the data and information and
make it readily available as and when the company requires some data (Njeru, 2016).
Another major importance of the use of MIS for Debenhams is that this assist the
company in making the communication better in the company. This is majorly because of the
reason that when the MIS system is used then all the information is clearly stored and these can
be used in future for better communication.
In addition to this another major reason for the effective MIS in company is that this
assist the company in minimizing the overload of information. This is due to the fact that with
the help of MIS system the company stores all the related information together and this reduces
the confusion of data and its storage. Also, this reduces the time as all the data is stored in
systematic manner and as and when some data is required the company uses that information.
Also, this assist Debenhams in taking effective decision as all the information is readily available
as and when required (Muiruri, 2018).
Along with this another reason for the effectiveness of the use of MIS is that this system
promoted decentralisation. This means that the decision making power is not in the hands of the
top management only. Rather all the people have some or the other decision making power. This
is due to the reason that when the company uses the MIS system then this provides for
information access to each and every person and this help all the employees to take the decision
for the betterment of company. Thus, this use of MIS helped Debenhams in improving the
decision making by providing access to decision making to all the employees.
Another major effective reason for the use of MIS in the business is that this increases the
coordination among the employees. This is due to the fact that when all the information is being
provided to all the employees then they know in advance that what work they have to do and this
will make sure that the performance and coordination of all the employees is good. This is
basically because of the reason that when the employees know what they have to perform in
advance then they will work in more coordinated and effective manner.

There are many different types of models and system which are used under the
Management Information System (MIS). The major models or types of MIS being used in
Debenhams are as follows-
Sales management system- this is a type of system which assist the company in managing
the sales of the company. This is very essential for the company to manage the sales of the
company as if the sales of the company will not be good then the company will not be able to
manage the profits of the company. This is due to the fact that sales show that how much the
company has earned a profit. Also, the MIS help the company in recording all the transaction of
sales and helps the business in managing the sales and related information (Muhasin And et.al.,
2017).
Budgeting system- this is another important major system under the MIS as without
finance no work can be done. This is majorly because of the reason that finance is the lifeline of
the company and without its proper use no work can be done in proper and effective manner.
Thus, under this MIS system of budgeting all the information relating to the finance and its
allocation are stored in the computer and MIS system. Thus, this makes sure that the finance is
properly allocated to all the activities and used in proper and optimal manner.
Human resource management system- this is a system which is also very important for
the company in managing the working of the company to a great extent. This is particularly
because of the reason that human resource is the one which actually manages the working of the
whole company and if the data of them is not managed in proper manner then they will not be
able to work in proper and effective manner (Hong and Park, 2020). Thus, the HR of the
company also need to use the MIS as they have to record many of the things like the
performance of the employees, new vacancies, employee turnover, welfare and protection of the
employees and many others information and facts and figures.
In the end it can be said that for getting success in the business the most essential thing
for the company is to make use of Management Information System. This is particularly because
of the reason that when the company makes the use of MIS then this help the company in
properly controlling all the business activities. This further assist the company in managing the
whole business and directing the whole business on the path of getting success.

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ONLINE
Difference between primary and secondary data collection. 2017 [ONLINE] Available through
<https://www.formpl.us/blog/primary-secondary-data>.

Significance of sampling techniques. 2017 [ONLINE] Available through
<https://bizfluent.com/info-8125358-sampling-techniques-business-research.html>.