Presentation: The Role of Data Insights in Business Decision Making

This presentation provides a comprehensive overview of data insights and their crucial role in modern business decision-making. It begins with an introduction to the topic, emphasizing the importance of data in achieving business goals. The presentation explores the role of information and data in the context of a globalized retail sector, highlighting the need for market attentiveness and competitive advantages. Different types of data, including first-party data, are discussed, along with how businesses traditionally view assets and the shift towards valuing data and customer information. The presentation explains how information is captured and stored using databases, and how data is used to deliver insights for business decisions. It also covers the use of market research in conjunction with data analysis, differentiating between primary and secondary data sources. The conclusion summarizes the key takeaways, emphasizing the significance of data insights for long-term sustainability and customer satisfaction within the retail industry. The presentation references various academic sources to support its findings.

CW1-
PRESENTATION

TABLE OF CONTENT
 Introduction
 Role of information and data
 Type of data
 Information and data in day to operation
 Information is capture and stored
 Data deliver insight for business decision making
 MIS and other database system
 Conclusion
 References

INTRODUCTION
The data insight for business decisions has a prioritise ability as with this
sustained objective and that is developed and designed on the basis of
business goals and working towards to attained sustainability and
flexibility with perfection. Data insight is basically used for to collect
and compile relevance under which purpose to attain better and
standardised performance is explored in better format.

ROLE OF INFORMATION AND DATA
In relation to sustained increment under which level of globalisation is
increased within retailing sector and for this significant changes are
induced over a longer period of instance. In this market attentiveness and
suitable knowledge is controlled as by obtaining sustained competitive
advantage.

TYPE OF DATA
There is different type of data that is used to collect and understand
varied range of successful drivers is induced in better mode. For this
suitable level of benefits is attained that is dependent over situational
basis.
 1st party data: In this business has worked for to supply adequate
level of information as with this direct basis interaction is processed
with customers and audience.

INFORMATION AND DATA
Traditionally the company thinks about the values and morals in the
terms of assets in the business and also plants the equipment, inventory
and also the human resources. For the expansion of the business or
technology that the business is using from the last decade has made to re
think for the business values and morals. In fact, business have to today
consider the to be the most valuable assets and hand over the business
and the information generated by the collection of data and information
about the customers

HOW INFORMATION IS CAPTURED AND
STORED
The database stores various data in tabular form and in this manner
different column and rows are prepared. The information is basically
stored with support of data within computer database under which
organised changes are implemented over a regular period of instance.

HOW DATA IS USED TO DELIVER
INSIGHT
The decision making of
business is used to deliver better
insight and with this long term
availability and goals are
achieved with adequateness. It
is pertaining as the key strategy
with this data driven capability
is advanced in terms of
adequateness towards trends
measurement

HOW MARKET RESEARCH
USED IN CONJUNCTION
In relation to primary data adequate
and suitable information is attained
that is original and usually collected
through conduction of survey and
attaining better focus about group
discussion. On the other hand, in
terms of secondary data the
information is collected with
support of literature that is
conducted by others

CONCLUSION
It has been concluded from the above report that data insight is being
used to gain better knowledge and information and for this long term
sustainability is attained over a continuous period of time. The
information plays vital role within retailing industry as with this
working standards of customer is attained in balanced mode. In
addition to this captured and stored information is dependent over
the data base system and for this decision making of business also
achieved with better insight

REFERENCES
 Black, K., 2019. Business statistics: for contemporary
decision making. John Wiley & Sons.
 Ghasemaghaei, M. and Calic, G., 2019. Does big data
enhance firm innovation competency? The mediating role of
data-driven insights. Journal of Business Research, 104,
pp.69-84.
 Hair Jr, J.F., Page, M. and Brunsveld, N., 2019. Essentials
of business research methods. Routledge.
 Hazen, B.T., Skipper, J.B., Boone, C.A. and Hill, R.R.,
2018. Back in business: Operations research in support of
big data analytics for operations and supply chain
management. Annals of Operations Research, 270(1),
pp.201-211.