Business Decision Making Report: Data Analysis for Food for Friends

This report delves into the critical aspects of business decision-making, using Food for Friends, a UK-based restaurant, as a case study. It begins with an introduction to decision-making processes, emphasizing the importance of data collection from both primary and secondary sources. Task 1 focuses on creating a plan for data collection, presenting survey methodologies, and designing a questionnaire to gather customer insights. Task 2 involves summarizing data using representative values like mean, median, and mode, analyzing results, and drawing conclusions based on the collected data. Task 3 utilizes spreadsheets to produce graphs, interpret findings, and create trend lines for forecasting business information, culminating in a formal business report. Finally, Task 4 explores the use of information processing and financial tools for project planning and decision-making. The report covers a range of statistical analyses, data visualization, and practical business applications to provide a comprehensive understanding of the decision-making process.

BUSINESS DECISION
MAKING

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
1.1 Create a plan for the collection of primary and secondary data for business problem.........3
1.2 Present the survey methodology and sampling frame used ................................................4
1.3 Design a questionnaire for a business problem....................................................................5
TASK 2............................................................................................................................................6
2.1 Create information for decision making by summarising data using representative values.6
2.2 Analyse results and draw conclusion..................................................................................10
2.3 Analyse data using measures of dispersion ........................................................................11
TASK 3..........................................................................................................................................11
3.1 Produce graphs using spreadsheets and draw valid conclusions........................................11
3.2 Create trend lines to assist in forecasting business information ........................................18
3.3 covered in PPT ...................................................................................................................19
3.4 Produce a formal business report .......................................................................................19
TASK 4..........................................................................................................................................20
4.1 Use appropriate information processing tools.....................................................................20
4.2 Prepare a project plan for an activity and determine the critical path................................21
4.3 Use financial tools for decision making .............................................................................22
CONCLUSION..............................................................................................................................22
REFERENCES..............................................................................................................................23

INTRODUCTION
Business decision making is a very important process carried out by management level to
choose among number of choices. There are number of options available in the business
environment, management have to make decisions to carry out scanning and select the best one.
The chosen alternative should deliver final outcome or results. There are number of instruments
available to study the investment premise, they are NPV and IRR. These are formulated by
business organisation to determine profitability and financial gains. The company which is
included in this report is food for friends which is a established restaurant in UK and render
number of services to their customers. This assignment throws light on importance of collection
of data through primary and secondary sources. These are collected to produce a plan and is
concluded through help of examining of data and producing results through calculation of
correlation, percentiles and quartile.
TASK 1
1.1 Create a plan for the collection of primary and secondary data for business problem
Food for restaurant is among the high-grade restaurants in UK , that deliver services like
hotel booking, serving variety of food to final customers. In order to open a new branch in
London, it is very essential to take opinions from customers and take into consideration while
making plans and procedures (Aharoni,, Tihanyi, and Connelly 2011). The data is assembled in
various ways by mangers of organisation. Researcher have to collect data from two major
sources that is primary and secondary source. This help in finding out the tastes and preferences
of customers in market place.
Two major sources of data collection which is mentioned below:
Primary source: The data which is collected from these primary sources is first hand and
fresh. The information collected from this type of source is authentic and reliable. The reseracher
himself take information from clients by contacting them at particular time frame. It is necessary
to know the views of clients related to food industry, as it helps them to preapre plans
accordingly. Various sources available to collect primary data is mentioned below:
 Observation: This is a commonly used method to collect data, in which reseracher
observe their source of people and collect data in accordance to their value points.

 Questionnaire: Under this, number of questions are framed by researcher in order to
know the view points of respondents. This is how information or data is collected from
the targeted audience. Food for friends conduct this procedure to know about interests of
people (Ferrell and Fraedrich, 2015).
 Survey: in this type of procedure, researcher ask certain questions from their clients and
than carry out process of knowing customer satisfaction.
Secondary Sources: It refers to information or data collected from the sources which
have already been accumulated for once. It is gathered from newspapers, magazines, or business
journals. Under this process, the information which is accumulated is not useful in finding out
the interests or views of people directly. Food for friends can gain number of information fr9om
these sources but does not help in gaining direct view points of clients(Zsambok, 2014).
1.2 Present the survey methodology and sampling frame used
The basic motive behind carrying out research process is to take information and data
from the clients(Zolfani, and et. al., 2013). This is very important to select the targetted audience
in efficient manner because than only the correct and accurate information can be attained.
Hence, it is the responsibility of researcher to draft plans properly and accurately.
Survey Methodology: This process identifies the selection and survey methods or tools
through which proper outcomes or results can be attained in proper mode. The manger of Food
for Friends chooses to carry out their research process from primary source of data collection. In
this, questionnaire and survey methods can be used in decision making process. In this, different
type of questions are framed that render information of their area(Ford, and Richardson 2013).
Sample Framework: there are number of ways through which research can be
conducted, it is up to the researcher and clients to choose that method that will yield them best
results out of their process conducted. There are sampling methods available out of which,
random sampling process is among the most efficacious way. In this, around 20 people are
selected and than, series of questions are put on and their answers are recorded. The types of
questions which can be formulated by Food For Friends restaurant can be:
 To find out the opinions of clients in market regarding products offered by restaurant.
 To record complaints of consumers that may arise(Zionts, 2012).

1.3 Design a questionnaire for a business problem
Questionnaire is used to collect data in primary mode. In this some number of questions
are included that has to be filled by target audience. The answers which are noted helps in
concluding the decision which has to be carried out. It is drawn by researcher in which 10 to 12
questions are included(Gigerenzer, and Gaissmaier, 2011).
QUESTIONNAIRE
Name of candidate:
Permanent Address:
Email id:
Gender:
1.) Whether the restaurant is working hard to provide better services to customers?
 Yes
 No
2.) What's the requirement to open a new branch in UK?
 For profit
 To become top restaurant
 first choice of customers
3.) Is Food for Friends is delivering best services?
 Yes
 No
4.) Technology or tools adopted by restaurant is efficient or not?
 Yes
 No
5.) Is food delivered by restaurant is healthy?
 Yes
 No
6.) Is clients are happy with the decision of expanding new branch in city?
 Yes

 No
7.) Is restaurant is fulfilling the needs of people?
 Yes
 No
8.) Staff members are maintaining healthy relationship with customers?
 Yes
 No
9.) Is restaurant services are perfect?
 Yes
 No
10.) Any suggestions for the Food For Friends?
…......................................................................................................................................................
.............................................................................................................................
TASK 2
2.1 Create information for decision making by summarising data using representative values
1.) Whether the restaurant is working hard to provide better services to customers?
Particular Respondents
Yes 16
No 4
2.) What's the requirement to open a new branch in UK?
Particulars Respondents

For profit 12
To become top restaurant 6
First choice of customers 2
3.) Is Food for Friends is delivering best services?
Particular Respondents
Yes 15
No 5
4.) Technology or tools adopted by restaurant is efficient or not?
Particular Respondents
Yes 11
No 9

5.) Is food delivered by restaurant is healthy?
Particular Respondents
Yes 19
No 1
6.) Is clients are happy with the decision of expanding new branch in city?
Particular Respondents
Yes 13
No 7

7.) Is restaurant is fulfilling the needs of people?
Particular Respondents
Yes 10
No 10
8.) Staff members are maintaining healthy relationship with customers?
Particular Respondents
Yes 17
No 3

9.) Is restaurant services are perfect?
Particular Respondents
Yes 18
No 2
2.2 Analyse results and draw conclusion
Year Sales Net Profit
2009 4000 1200
2010 5050 1180
2011 5100 1700
2012 4040 1690

2013 6700 1799
2014 6500 1860
2015 5680 1755
2016 7200 1899
2017 8000 2000
Particular Sales Net profit
Mean 5807.78 1675.89
Median 5680 1755
Mode 4000 1200
Mean: it is derived by taking averages of the data collected. It is used to find out the data
that are used in past period of time(Groebner, 2011). It helps management level to take decisions
regarding such collected data. The formula for calculating mean is to calculate sum of amount
that are there in sales column and than divide it with the sum of present sales in number of years.
The mean for the sales is 5807.78 and net profit is 1675.89.
Median: it refers to determining the middle value of the collected data. Management for
food for friends have to calculate median that helps in making the decision smoothly. The
median for sales of the year ending is 5680 and median of net profit is 1755.
Mode: the repeating value in collected data is known as mode. It can be determined by
applying formula. It can also attained from previous data of Food for friend restaurant. The value
of mode of sales is 4000 and for net profit is 1200( Maxwell, and Lévesque, 2011).
2.3 Analyse data using measures of dispersion
Year Sales Net Profit

2009 4500 1280
2010 5150 1300
2011 6200 1500
2012 5500 2000
2013 6900 1400
2014 6500 1500
2015 5520 2100
2016 6600 1865
2017 7280 1980
Max range 6900 2100
Minimum range 4500 1280
Coefficient correlation 0.12
Standard deviation 1965.76 325.27
TASK 3
3.1 Produce graphs using spreadsheets and draw valid conclusions
1.)
Whether the restaurant is working hard to
provide better services to customers?
Respondents
Yes 16
No 4