Business Decision Making Report: Technology's Influence on Retail

This report investigates the impact of technological evolution on high street shops and malls, crucial for business decision-making. The study employs both primary and secondary research methods, with a focus on a survey methodology using questionnaires to gather data on consumer behavior and preferences. The report summarizes and analyzes the survey results, including calculations of mean, median, and mode, to understand the effects of online shopping and social media. Furthermore, it uses data analysis techniques such as depreciation methods, quartiles, percentiles, and correlation coefficients to provide a comprehensive view of the market trends. Graphical presentations and trend lines are used to draw valid conclusions, which are then presented in a business report format. Finally, the report discusses information processing and financial tools that aid in decision-making within the context of the evolving retail landscape.

BUSINESS DECISION
MAKING
Contents

INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1.1. Plan for collecting data....................................................................................................1
1.2. Survey methodology and sampling frame used:.............................................................2
1.3 Questionnaire for gathering data which are related to the technology evolution which
affects on the high street shops and malls:.............................................................................3
TASK 2............................................................................................................................................5
2.1 Summarize the data from the survey:...............................................................................5
2.2 Analyse the results of the survey:...................................................................................10
2.3 Data analysing using depreciation method:....................................................................12
2.4 Quartile, percentiles and correlation coefficient for data analysis:................................12
TASK 3..........................................................................................................................................12
3.1 Graphical presentation to draw valid conclusion:..........................................................12
3.2 Trend line:......................................................................................................................18
3.3 Poster Presentation:........................................................................................................18
3.4 Business Report:.............................................................................................................18
TASK 4..........................................................................................................................................19
4.1 Information processing tools..........................................................................................19
4.2.........................................................................................................................................20
..............................................................................................................................................20
4.3 Financial tools for decisions making:.............................................................................22
REFERENCES:.............................................................................................................................23

INTRODUCTION
Business decisions are the most crucial factor which helps the organisations to attain their
pre-set targets. However, this can be said that the organisations need to make certain effort in
order to gain the sustainable development. Under this report, this can be said that the company
needs to adopt various tools in order to take business decisions (Deutsch and et.al., 2016).
Decision can be taken after doing extensive research. under this report, primary and secondary
research is also emphasised questionnaire is framed out under this. Measure of description is also
mentioned under this, various groups findings are mentioned under this. However, this can be
said that the company needs to make certain tools which could be help out to make certain tools.
TASK 1
1.1. Plan for collecting data
The data is the most crucial factor for convening research. however, this can be said that
research is the conducted by using primary and secondary method for collecting of data. But,
before going to collect the data, there is a strong need to know about the area where the research
is going to conduct. The data mainly can be conducted by way odd doing primary and secondary
research. these are mentioned as under:
Primary source of method: Under this method, the data is collected for the first time.
This is the fresh data and no one can be conducted this method with knowing the market where
the research is going to conduct (Sköld, Alm and Scholz, 2013). However, this can be said that
the company needs to adopt various changes as per the management for collecting the data. The
main source of the data collecting technique under primary source are: questionnaire, survey,
observation and others. under this report, the data can be collected by using this method by using
questionnaire. The questionnaire will cover comprehensive information about the research of the
topic. Under this, the topic is related to the technological innovation and evolution of the
multichannel shopping influencing on the street shops and malls. For convening research by
using primary research method, there is a strong need to know about the potential consumers
who are directly or indirectly connected to the organisation. The main constraint for collecting
the data by using this method is that it is time consuming process and it will take more money for
collecting this. But this data is much reliable than the other one. Now, there is a strong need to
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make certain tools which can be used by the researcher whether this method is going to apply or
the other one.
Secondary research method: This is the another method which are used by the researcher
where the data collection requirement is huge. Secondary research method is the one which have
already been published somewhere and the researcher will extract the data from there in order to
make effective decisions. Although, this can be said this is method can be used by the researcher
if he/she thinks that research data requirement can be filled by this. The secondary data
collection method are the company records, internet, print media and the census and the other
government records which can be used by the researcher for collecting the data for completing
the research.
Under this report, the secondary data will not use that much. As the data requirement is
less or little that is the reason researcher will choose the primary research for collecting the data.
1.2. Survey methodology and sampling frame used:
There are various survey methodologies which helps the form business research in an effective
manner.
Survey methods: Survey refers to the process in order to assess the existing market position of
an entity and its performance. For this aim, researcher is entitled to make certain survey methods
in order to assess the technological impact on the high street shops and malls (Simon, 2015).
Therefore, survey method is a tool which is helpful for gathering data and demonstrating market
position of the company. According to the process system, diverse tools and techniques are
addressed for producing diverse kinds of views or perceptions that could lead to form report and
run business operations in an effective manner. Under survey method, the research related
questions are frequently asked from the respondents face to face interview to gather information
and enhancing knowledge related to the sound market positions. This is the primary research
method for collection of data via face to face interaction and diverse kinds of tools and
techniques. Although, survey methods are mentioned as under:
Sample survey/questionnaire: Under this process, researcher forms questionnaire comprises of
question lists. Additionally, the researcher considers the respondents randomly and ask frequent
questions to them. Henceforth, various views are obtained for which firm’s effectiveness could
be attained. Under this research, the researcher selects 20 respondents from the potential
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marketplace in order to emerge viewpoints to enhance efficiency of the college entity (Pettigrew,
2014).
Sampling: Under sampling method, researcher applies diverse techniques for sampling such as
cluster, random sampling methods and so on. Henceforth, he selects respondents in alternative
forms. While under random sampling method, the researcher opts respondents randomally.
Henceforth, via this process system, diverse opinions are gathered which remains helpful for
further operations of the firm.
Random sampling method: Under this method, various respondents are used in order to make
certain tools so that the business can be attained effectively. under this method, 20 respondents
are selected from the total number of population resides in the market place.
According to the provided scenario, this can be said that the researcher needs to analyse the
technology innovation so that their impacts on the high street shops can be seen effectively. For
collecting the data from the market place where the researcher is going to extract information
that could be helpful for making decisions in an effective manner.
1.3 Questionnaire for gathering data which are related to the technology evolution which affects
on the high street shops and malls:
Questionnaire comprise of various questions related to the service rendered by the firm and
gathering respondents’ opinion on its performance. Questionnaire is a kind of research tool
which covers of series questions in order to gather information connected to firm’s performance.
Under this, researcher asks questionnaire from the respondents which gives their diverse views
on firm’s quality services.
Kinds of questionnaire: There are several kinds for convening survey demonstrated in the
forms such as face to face questions and questions through open and fixed response
questionnaire covering this, questions are likewise asked in the form of online survey such as:
mail and implementing social networking sites and so on (Nowduri, 2011).
Importance of questionnaire: This covers a list of questions concerned to quality services
of the company. Under this process, researcher form questionnaire and frequently ask questions
to respondents connected to business activities. Although, it usefulness could be assumed as
below:
 Supportable to attain existing position of the company.
 Produce diverse ideas connected to the quality services and enhancement in them.
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 Actual environment of an entity is gained by which further implementation could
be attained for positive and eco-friendly atmosphere.
Thus, researcher frequently ask undermentioned questions to the 20 respondents in
order to come to the main conclusion.
Questionnaire
NAME:
AGE:
Q.1 Does technology affects the business which have their own store?
a). Yes
b). No
Q.2 Do you think; online shopping sites affects the physical stores?
a). Badly affects.
b). Less affect
c). Can’t say
Q.3 Do you think that the technology spoils the local stores?
a) Absolutely yes
b). Absolutely no
c). Can’t say
Q.4. In your opinion, social online site affects the shops badly?
a). Yes
b). No
c). Can’t say
Q.5 From which place, you buy the product?
a). Via online
b). Via offline
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Q.6 What kinds of products you buy the most?
a). Trendy
b). Fashionable
c). Others
Q.7 What price will you like to spend the money?
a). £5-10
b). £10-15
c). £15-35
d). £35-100
e). £100 and above
Q.8 Would you think that online business will overtake the offline business in the forthcoming
year?
a) Yes
b). No
c). Can’t tell
TASK 2
2.1 Summarize the data from the survey:
Q.1 Does technology affects the business of physical store?
a). Yes 18
b). No 2
Mean 10
Median 10
Mode 0
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Q.2 Do you think; online shopping sites affects the physical stores?
a). Badly affects. 12
b). Less affect 2
c). Can’t say 6
Mean 6.666667
Median 6
Mode 0
Q.3 Do you think that the technology spoils the local stores?
a) Absolutely yes 17
b). Absolutely no 1
c). Can’t say 2
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Mean 6.666667
Median 2
Mode 1
Q.4. In your opinion, social online site affects the shops badly?
a). Yes 16
b). No 2
c). Can’t say 2
Mean 6.666667
Median 2
Mode 0
7

Q.5 From which place, you buy the product?
a). Via online 13
b). Via offline 7
Mean 10
Median 10
Mode 6
Q.6 What kind of products you buy the most?
a). Trendy 14
b). Casual 4
c). Others 2
Mean 6.666667
Meadian 4
Mode 0
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Q.7 What price will you like to spend the money?
a). £5-10 2
b). £10-15 3
c). £15-35 6
d). £35-100 5
e). £100 and above 4
Mean 4
Median 4
Mode 2
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