Business Decision Making Report: Data Analysis for Blackfriars

This report analyzes the business decision-making process for Blackfriars Restaurant in London, which is planning to open a new branch. The report details the methods for collecting primary and secondary data, emphasizing the use of questionnaires and annual reports. It explores various statistical tools such as mean, median, mode, standard deviation, correlation, quartiles, and percentiles to analyze financial data (sales and profit) from 2011 to 2017. The analysis includes graphical representations like column graphs and pie charts to visualize the data. The report also includes a questionnaire design and discusses sampling techniques, concluding with an assessment of the restaurant's performance and recommendations for its expansion.

BUSINESS DECISION
MAKING

INTRODUCTION
Decisions plays a very significant role in every kind of business entities which helps to
make the firm more profitable by taking appropriate decisions. The current study is based on a
Blackfriars Restaurant which is operating in London and going to open a new branch. The report
focuses on plan that how to collect primary as well as secondary data for research. It shows
various statistical tools and method which helps to take effective business decisions and draw a
reliable conclusion. Moreover, it describes about graphical representation, financial tools as well
as critical plan to complete a project in the proper manner on or before time.
TASK 1
1.1 Plan for collecting primary and secondary data
Data is a most essential part of the any research project where data should be more useful
and specific. Make sure data should be more specific and reliable. Data collection is way to
generating information through the different different source. Data collection is technical way to
gathering information. In any research project research main role is collect relevant data from the
suitable source. Data gathering is away to provide information for the related topic. Data
collection have a various source. In order to collect data there is two specific way to gathering g
information. One is primary data where information generate by the questionnaire and books and
journals (Jankowicz, 2005). As per this report in data generate through the questionnaire forms.
Which are very useful for the research report which the help of primary question data company
generate information about the current market problems. On the other hand secondary data is
way to generating information through the secondary source of the data collection where
information is old which means information is investigated n earlier time and now we use those
data in present report. Primary data is first handed data where information through the online
questionnaire. Company fill online questionnaire from the respected public in the current market.
Furthermore, secondary data is to be generated by the investigators which the help of annual
report of the company.
1.2 Presenting survey methodology as well as used sampling technique
There are various type of sampling methods which are useful to data collections .
Survey methodology- in this sampling method survey is to be done on the basis of
questionnaire where the researcher use online method . In this questionnaire are distributed
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through online way where this method is useful to reduce time and increase efficiency (Little,
2011).
Convenience sampling method : in this sampling method data should be in generate via
easily. Most of the researcher are used convenience data methodology because this method of
data collection is very easy and understandable by the researcher.
Sample random sampling method: simple random sampling method is a very easy
method from all over the above methods of sampling. In this research Blackfriars restaurant use
simple random sampling methods where they easy generate information. In this sampling
method there is no parameter used. This method is free and randomly determine.
As per the current research report we can use 30 sample size of sampling where used
simple Brandon sampling methodology. In this research report research used online
questionnaire forms for generating authentic information (Nicholson and Aman, 2012).
1.3 Questionnaire for research
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Questionnaire
Demographic information
Name ________________
Gender _______________
Age __________________
Que. 1. How often do you visit to restaurant for taking food ?
 Daily
 Once in a week
 Once in a month
 Rarely
Que. 2. Do you think that, Blackfriars restaurant provides high quality of food items ?
 Yes
 No
Que. 3. Which factor do you consider while taking food from Blackfriars restaurant ?
 Quality of food
 Service
 Location
 Prices
Que. 4. Do you agree that, Blackfriars satisfy your requirements related to food ?
 Strongly agree
 Agree
 Neutral
 Disagree
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 Strongly disagree
Que. 5. Do you think that, price level of food products in Blackfriars restaurant are effective ?
 Yes
 No
Que. 6. From the following marketing strategies, which strategy affects your buying
behaviour ?
 Social media
 Word of mouth
 Newspapers
 Promotional activities
Que. 7. Are you satisfy that, services provided by personnels of Blackfriars restaurant are
better ?
 Highly satisfy
 Satisfy
 Neutral
 Dissatisfy
 Highly dissatisfy
Que. 8. Do you think that, food products of Blackfriars have higher nutritions as compare to its
rivalry restaurants ?
 Yes
 No
Que. 9. Is there marketing strategy used by Blackfriars is impact on your buying behaviour ?
 Yes
 No
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Que. 10. Please provide your valuable feedbacks and suggestions
________________________________________________
TASK 2
2.1 Summarizing collected data
For analysing and research on the company there are different informations and data are
required. The data are collected with the help of primary as well as secondary sources and used
to analyse regarding business problems. In the present scenario raw data are collected from
annual report of the company such as Blackfriars restaurant (Arnicans, 2013). There are mainly
two kinds of financial data are derived and summarized which are like as sales or revenue and
profit from the FY 2011 to 2017. Further, respective raw data are summarized as below:
Table 1: Raw data for calculation
Year Sales or revenue (Amount in £) Profit (Amount in £)
2011 658 132
2012 578 125
2013 468 112
2014 547 125
2015 689 193
2016 745 231
2017 834 292
The above mentioned table shows collected raw data for researching of Blackfriars
restaurant and make valid conclusions. Here revenue generated by the restaurant as well as profit
level is to determine from the accounting year 2011 to 2017. With the statistical tools such as
mean, median and mode the represented raw data are calculated.
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2.2 Calculations of mean, median and mode
In the business entity data and analysed using various techniques such as thematic,
statistical, mathematical tools etc. In the present case, various kinds of statistical tools and
techniques are used such as mean, median as well as mode which are calculated as below:
Table 2: Calculation of mean, median and mode
Sales Profit
Mean 646 173
Median 658 132
Mode 0 125
Mean or Average
Median
Mode
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 Mean: The tool which helps to the scholar in order to determine average value of the
whole data set is known as mean. When the Blackfriars restaurant wants to know average
value of the sales and profit then mean is the best tool. In the present case value of mean
for sales and profit is £646 and £173 respectively (Arnold, 2015). On the basis of such
outcomes it can be determined that performance of the firm is well. Median: As per the statistical tool, researcher able to know middle value of whole data
set and can draw a valid interpretation. Further, it helps to divide overall data into two
equal parts when there are huge data in firm. Here middle value of revenue and profit is
£658 and £132 which shows that before FY 2015 performance of the firm is poor. After
the middle value level sales and profit both are consistently increases.
 Mode: By using the mean tool management of Blackfriars easily able to know that which
data is often occurs in business process. In the current study, sales is not repeated in any
year but on the other side profit worth of £125 is repeated in year 2014.
2.3 Computation of standard deviation
Table 3: Calculation of standard deviation
Sales Profit
Standard deviation 125 68
Standard Deviation
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Standard deviation: It is a value which shows that real value deviate from mean value
up to which extent. Higher the level of difference between mean and standard is better for the
firm (Barnes and Duncan, 2013). In the present case standard deviation for sales and profit is
£125 and £68 respectively which are so far from the mean value i.e. £646 and £173. Hence, it
can be said the Blackfriars is able to perform well in the food industry of London.
2.4 Quartile, percentile and correlation
Measure of dispersions are such as quartile, percentile as well as correlation coefficient
which helps to the business entity for determine level of performance. Calculation of different
tools of measure of dispersion are stated below:
Table 4: Calculation of quartile
Quartile Sales Profit
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Q1 562.5 125
Q2 658 132
Q3 717 212
Table 5: Calculation of percentile
Percentile Sales Profit
25.00% 562.5 125
50.00% 658 132
75.00% 717 212
Quartile and Percentile
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Table 6: Calculation of correlation coefficient
Particulars Sales Profit
Sales 1 0.93
Profit 0.93 1
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