HND Business Decision Making Project: Data Analysis and Report

This project focuses on business decision-making for Blackfriars Restaurant, aiming to evaluate customer preferences for potential expansion. It begins with a plan for collecting primary and secondary data, followed by a survey methodology and questionnaire design. The project then delves into data analysis, calculating mean, median, and mode, and using measures of dispersion to summarize data. The student creates graphs and trend lines to visualize the data and presents the findings in reports for management. Furthermore, the project incorporates a project management plan and explores the use of financial tools for decision-making. The goal is to provide a comprehensive analysis of the restaurant's current situation and make recommendations for future business strategies. The project covers various aspects of data collection, analysis, and presentation, offering a complete overview of the decision-making process within a business context.

Business Decision Making

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1.1 Creation of plan for primary and secondary data..................................................................1
1.2 Survey methodology and sampling frame.............................................................................2
1.3 Questionnaire for data collection..........................................................................................3
2.1 Creation of information.........................................................................................................4
2.2 Analysis of mean, median and mode....................................................................................5
2.3 Dissemination of information with calculation of measure of dispersion............................5
TASK 2............................................................................................................................................6
3.1 Creation of graphs.................................................................................................................6
3.2 Creation of trend lines...........................................................................................................8
3.3 Presentation for disseminate information............................................................................11
3.4 Report presentation for management..................................................................................11
TASK 3..........................................................................................................................................11
4.1 Use of information processing tool.....................................................................................11
4.2 Project management plan for determining various activities.............................................12
4.3 Use of financial tools in order to take better decision ......................................................12
CONCLUSION..............................................................................................................................14
REFERENCES..............................................................................................................................15

INTRODUCTION
Business decision making is not a easy thing and it lead to consider various similar
objectives into an organisation (Ferrell and Fraedrich, 2015). There are various components are
evaluated for business which need to get understand by business managers so that they become
able to maximise their working and proficiency. Thus, it is a duty of business managers to take
appropriate decision by considering all values and factors in an appropriate frame. This project is
based on Blackfriars restaurant whom want to maximise their operations and want to open
another chain of their restaurant. Thus, for this relation they need to evaluate all customers taste
and preferences properly so that ethical working get promoted. For this, managers will have to
create a plan and conduct a survey properly by applying relevant method for data collection.
With creation of data, suitable judgement lead to get carried down for making ethical and
appropriate work and present such outcomes in front of management. For determine financial
condition, it is essential to use relevant method for evaluating return.
TASK 1
1.1 Creation of plan for primary and secondary data
 Primary Data:
Apart from marketing company required to research about various data to know market
conditions , customers trends regarding those products services they are going to start up (Ford
and Richardson, 2013).
And for that company need to research about both primary secondary data, under primary data
researcher wants to collect data for first time, such information are not copied but acquired
through travelling various explore centre where a person finds different books, journals and
magazine after analysing all these things, he or she select those contents which give profitable
returns to business. Although these data are time consuming, efforts but they are relevant,
unbiased, free from controversies. Moreover, such information gather through a survey. For this
project primary data has been used for conducting investigation in an appropriate manner.
 Secondary Data:-
Its name clearly address the meaning of this term, these are secondary which means
collected from primary source, somewhere else required to considered the usability of data
because these data are not original, fresh but collected from different departments I.e. human
resource,finance,marketing department. Although these are beneficial in sense of time saving,
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less efforts and cost effective but need is imposed very carefully because researcher personally
not collect information, having no personal interaction with customers so proper planning ,
professional advice required before use anything in business. Their are various modes of
collecting secondary data either through questionnaire, social media , surveys and samplings.
Blackfriars restaurant need to collect primary data in consideration through which
business become able to determine their customers and users point of view as well as taste and
preferences.
1.2 Survey methodology and sampling frame
Sampling methodology:-
It is descriptive appropriate manner in which sample are designed by using various modes of
sampling and main purpose behind this method is to frame samples in such way which easily
understand (García-Peñalvo and Conde, 2014). Following are several methods which are
consider as sampling methodologies and have to consider by Blackfriars restaurant properly:
 Random sampling
 Stratified sampling
 convenience sampling
 Judgemental sampling
Black friars Restaurant , random sampling is used in which 100 customers are selected
randomly for which survey get designed. The sample which gather by customers have basis of
taste, preferences, choice and their opinion in respect of management of staff, menu card,
customer serving ability, space, speciality of foods available in restaurant.
Survey method:
Survey is a process which get organise on several population with a motive to gain best
and appropriate outcome for a project so that a suitable and valid conclusion get drawn
(Groebner and et. al., 2011). It is helpful in evaluating and understand a major cause so that
better and appropriate decision making get encourage. Several survey which can consider by
Blackfriars restaurant are stated as follow: Internet sites: It is common way in which company gather the information of customers
from social networking sites from they easily get the feedback about needs, likes,dislikes
and youth trending food varieties on basis of such data they make changes in restaurant.
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 Door to door survey: Under this method team is going door to door so they personally
communicate with customers and collect their opinion. This is very useful way because
data collect from this source is original,unbiased and relevant.
1.3 Questionnaire for data collection
Questionnaire is most relevant method of collecting feedback from customer under this
modes is best for hospitality sector particularly restaurants. This method proved most effective
method for stabilise decision making which provide huge revenue in future. Black friars
Restaurant conducted questionnaire for 1.5 months on 100 respondents in which 10questions
were asked on various segment regularly who visit restaurant daily or occasionally.
Questionnaire
Restaurant Name
Address
Name of Server Type of food served
1. How many times you visit this restaurant?
a. More than 2 times
b. less than 2 times
c. none
2. Are you satisfy with restaurant food quality?
a. Yes
b. No
3. Are you aware about the speciality of restaurant?
a. yes
b. no
4.Are you interested in knowing about branches of restaurant?
a. Yes
b. No
5.Which is most appropriate price level for you?
a. more than 20
b. between 10-20
c. less than 10
6. Which mode of payment are you comfortable with ?
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a. cash
b. card
7. Are you find any unique thing in interior of restaurant?
a. yes
b. no
8. Are you satisfy with the management system of restaurant?
a. yes
b. partly yes
c. no
d. partly no
9. Were you think this restaurant sustain for longer period?
a. yes
b. no
10. Are you liking Indian theme of restaurant?
a. yes
b. no
2.1 Creation of information
This is a created information for Blackfriars restaurant through which management
become able to evaluate and understand various customers aspects and preferences in an
appropriate frame so that better and effective working get promoted.
Ratings R1 R2 R3 R4
1 75 20 5
2 85 15
3 70 30
4 91 9
5 25 70 5
6 80 20
7 74 26
4

8 60 10 15 15
9 90 10
10 85 15
On the basis of provided information, it get underpin that Murano need to analyse their
questionnaire survey properly so that better and suitable gain could be estimated in an
appropriate and suitable manner. Most number of customers stated that on an average 75 users
visit to restaurant more than twice in a month which signifies that they have good quality
products which further enables in getting sustain into market world. Along with this, quality of
food is quite satisfactory in nature as well which support users to take a feel of good sense. All
these things stated that the idea of new outlet is suitable for business through which each and
every target get accomplish in an appropriate frame as well as management become able to get
sustain into keen competitive market.
2.2 Analysis of mean, median and mode
Ratings R1 R2 R3 R4 Mean Median Mode
1 75 20 5
33.3333333
333 20 Nil
2 85 15 50 50 Nil
3 70 30 50 50 Nil
4 91 9 50 50 Nil
5 25 70 5
33.3333333
333 25 Nil
6 80 20 50 50 Nil
7 74 26 50 50 Nil
8 60 10 15 15
28.3333333
333 15 15
9 90 10 50 50 Nil
10 85 15 50 50 Nil
Mean: It is average value of data set which represent the frequency of variables which provided
in a series. It is important to understand the mean of a series so that better and appropriate
decision making could be promoted. This data is provided responses of various respondents in
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which stated that one an average more than 70n people visit to restaurant ion regular basis.
Along with this, food quality is also appropriate and effective in nature and many users well
aware about speciality of products and services.
Median: It is a mid value of a series or a frequency which represent the middle value of the data.
Many customers of Blackfriars restaurant stated that cash payment is beneficial for them on the
hand of payment through card. Along with this, interior of restaurant is also unique in nature and
enable management to get sustain for long term.
Mode: It is most repetitive frequency of series which occur most number of times. On the basis
of various customers point of view, it get evaluated that management system have appropriate
nature which need to get improve in some context.
2.3 Dissemination of information with calculation of measure of dispersion
Ratings R1 R2 R3 R4 Variances
Standard
deviation
1 75 20 5
1358.33333
33333
36.8555739
792
2 85 15 2450
49.4974746
831
3 70 30 800
28.2842712
475
4 91 9 3362
57.9827560
573
5 25 70 5
1108.33333
33333
33.2916405
924
6 80 20 1800
42.4264068
712
7 74 26 1152
33.9411254
97
8 60 10 15 15 550
23.4520787
991
9 90 10 3200
56.5685424
949
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10 85 15 2450
49.4974746
831
Variances: It is consider as all changes and modifications which arise in any frequency
distribution table. It is important to understand about all variances properly so that movement
between two or more variables get understand. Above stated tabulation is related with
Blackfriars restaurant whom want to open up another chain of business in London, UK. By
applying relevant table to this series, there are many people stated that they want to know about
another branch of restaurant with a variances of 57. most of the people stated the prefer
restaurant theme is Indian so that more and more number of customers get attracted.
Standard Deviation: It is consider as difference distance of variable with mean so that better and
appropriate outcome get suggested. On the basis of this consent, it get evaluated that interior is
unique in nature which can easily attract vast range of customers.
TASK 2
3.1 Creation of graphs
1.
75
20
5 More than 2
times
less than 2
times
none
Blackfriars restaurant is located near to mall; therefore, people visit this place twice or thrice in a
month. As indicated by above graph it has been comprehended that almost 75 people visited this
place more than two times. Whereas, 20 individuals go there only one or two. Rather than this,
some persons are still there who never visit this restaurant.
2.
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85
15
Yes
No
Restaurant is providing best and unique food and beverages to people. They are using new
methods into their items which assist them to maintain quality of it. This aids them to pull
attention of numerous clients. According to above mentioned graph, almost 85 individuals are
agree with the statement, but, remaining persons do not think that they are maintaining quality of
products.
3.
70
30
Yes
No
Blackfriars restaurant is much popular for Italian, Mexican and Indian food. Apart from this,
there coffee and muffins are very famous in entire UK. From above graph, this get concluded
that almost 70 people are aware about the speciality of restaurant but remaining persons are not
familiar with this.
4.
8

91
9
Yes
No
Blackfriars restaurant is very famous in many states because of their qualitative foods and
beverages. There are various people who want to visit this place at least one time. Thus, they
always want to know about their new outlet. According to above presented graph, it has been
comprehended that nearly 91 individuals want to about their outlets or branch. Instead of this,
remaining people do not want to know about it.
3.2 Creation of trend lines
5.
more than 1000
between 500 to 1000
less than 500
0
10
20
30
40
50
60
70
80
Column B
Linear (Column B)
There are many people who visit this place who are having difference kind of income level. But
many of them are students also. Therefore, there demand will vary according to their income. As
indicated by above graph, 25 individuals prefer to purchase items above 20, but maximum
people i.e. 70 want to buy products between 10-20. remaining persons only want to get items
below £10.
6.
9

Cash Card
0
10
20
30
40
50
60
70
80
90 80
20
Column B
Linear (Column B)
There are many individuals who never hold card with them. Like basically students are allowed
to possess card with them; thus, they prefer to pay amount in cash. From above graph, it get
concluded that almost 80 persons are comfortable with cash payment method but remaining are
not prefer this.
7.
Yes No
0
10
20
30
40
50
60
70
80 74
26
Column B
Linear (Column B)
Interior of Blackfriars restaurant is much attractive which aid to pull attention of numerous
individuals. They are improving their designs on continuous basis. From above shown graph it
has been comprehended that almost 74 people are satisfied with the statement but remaining are
favouring this.
9.
10