Business Decision Making Report: Data Analysis for Balti Palace Growth

This report focuses on business decision-making for Balti Palace, a UK-based restaurant. It begins by outlining data collection methods, including primary and secondary sources, and the design of questionnaires to gather customer feedback. The report then summarizes data using representative values and analyzes the results through measures of central tendency and dispersion. Furthermore, it explores the creation of graphs and trend lines for forecasting purposes and delves into the application of data methods, critical path analysis, and investment appraisal tools for effective decision-making. The report concludes with a comprehensive analysis of the findings and recommendations for Balti Palace's future business strategies.

Business Decision Making

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1.1 Collection of primary and secondary data for a given business problem.............................1
1.3 Designing the questionnaire..................................................................................................3
TASK 2............................................................................................................................................4
2.1 Create information for decision making by summarising the data using representative
values...........................................................................................................................................4
2.2 Analysis of the results...........................................................................................................7
2.3 Analyse the data using measures of dispersion.....................................................................8
2.4 Explain how to find conclusion using Quartiles, percentile and correlation........................9
TASK 3............................................................................................................................................9
3.1 Produce graphs using spreadsheet and draw conclusion using information.........................9
3.2 Create trend lines and graphs to assist forecasting..............................................................15
3.3 Covered in PP T..................................................................................................................16
3.4 Formal report.......................................................................................................................16
TASK 4..........................................................................................................................................17
4.1 Using data methods in decision making: ...........................................................................17
4.2: Critical path .......................................................................................................................17
4.3 Investment appraisal tools...................................................................................................18
CONCLUSION..............................................................................................................................19
REFERENCES..............................................................................................................................20

INTRODUCTION
Every organisation can achieve growth and success only when they have an effective
management who are capable to make an effective decisions and plans related with financial as
well as non-financial activities in order to achieve desired goals and objectives. The present
assignment is based on Balti Palace which deals in offering quality food products to the people
of United Kingdom. The project covers different techniques of collecting data along with the
proper questionnaire and specific charts. All other aspects are also discussed under this report
with the context of Balti Palace .( Pourshahid, Richards, and Amyot, 2011)
TASK 1
1.1 Collection of primary and secondary data for a given business problem
It is important for the management of companies like Balti place to collect primary and
secondary data for the purpose of collecting the information for effective decision making so that
it can solve the problems that arise in the business. The main objective of the Balti place is to
collect the information from the public regarding their services and the quality of food they are
providing. There are two sources from where these information can be collected , they are called
primary and secondary sources. These are discussed in brief as below:
Primary sources: This is the source from where the data collected is raw and fresh , it is
not published anywhere. The informations obtained from this source is first hand which is
provided by the respondents chosen by the researcher. This source of collection of data is
assumed to be more reliable and accurate as it is the personal review of the respondents that
often visit to the Balti palace. They provide honest reviews to the business and give true
feedbacks for the correction that is needed to done. The sources from which the primary data can
be collected is social networking sites , in house questionnaires provided by the restaurant from
the customers. These sources are discussed in brief as below:
 Surveys: This method of collecting the primary data by the respondents include asking
questions from the different numbers of respondents that visit on the regular basis to Balti
palace. A series of questions are asked from the random customers about the services,
quality and ambience to come at a certain decision .( Springer, Berlin, Heidelberg, 2015)
 Questionnaires: In this method, the number of questions are asked from the respondents
by preparing a set of questions that is distributed as brochures physically to the customers
or uploaded on the social sites or restaurant's own website.
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Secondary sources: In this method of collecting the information , published data are used such
as industry related magazines , newspapers, articles , food bloggers etc. This source also collects
past information , which can also be called second hand information and doesn't play as much
relevance as primary sources.
1.2 Presenting survey methodology and sample framing
The main purpose of conducting the surveys is for assembling the data that is necessary
for gathering the information that will be required for solving the problems of the business and
making necessary decisions. This purpose can be solved by conducting the research using the
information collected from primary and secondary sources. These sources help the researcher in
conducting the research coming to a decision that is necessary for solving the problems of the
restaurant, and receiving feedbacks from respondents whether the decision made is effective or
not for satisfying the criteria demanded by them. ( Crowfoot, and Wondolleck, 2012 )
Survey methodologies: This is the methodology of conducting the survey that is adopted
by the Balti palace to assemble the views of random respondents that are selected by the
researcher for determining the quality of services , quality of food , surroundings etc. provided
by them. These surveys are conducted by the management Balti palace using primary source of
data collection. This source of collecting data uses questionnaires and fresh data is collected
from this source. The questionnaires prepared by the management includes question that are
related to the issues that the restaurant is facing currently and then these questionnaires are
issued publicly or on social sites.
Sample Framing: This research process uses sample data from the whole population on
the random basis. In the sample framing, researcher uses a variety of techniques such as random
sampling, stratified sampling, cluster sampling etc. to initiate the research process. The
researcher uses these techniques of sample making because it is impossible to conduct the
research on the whole population.
Here, the research analyst of Balti palace is using the technique of random sampling to
select the sample from the entire population because it is the easiest and most effective method
of selecting the sample from the population. The total of 90 respondents are selected from the
population by using random sampling method. The different issues for which the various
questions are asked from the selected sample of 90 respondents are as follows:
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 Diversity of services
 Food quality and quantity
 Prices
 Ambience of Balti Palace
1.3 Designing the questionnaire
Balti palace
Respondent's Name:
Age:
Gender:
Q1. Have you ever visited Balti Palace?
 Yes
 No
Q2. What do you find best in Balti Palace?
 Services
 Food Quality
 Ambience
Q3. Are you satisfied with the quality of food?
 Yes
 No
Q4 Did the prices of the food and services of Balti palace affordable and reasonable?
 Yes
 No
Q5 Are you satisfied with the cuisines that are available in Balti palace?
 Satisfied
 Highly satisfied
 Not satisfied
Q6 Which of the cuisines that are in the menu of Balti palace go best for main dishes?
 Italian
 Chinese
 french
Q7 Do you want Balti palace to introduce few new dishes in its menu?
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 Yes, in Breakfast
 Yes, in Lunch and dinner
 No
Q8 In which location do you want Balti palace to open its new branch?
 Prime location
 Country side
Q9 Do you want that something unique should be introduced on festivals?
 Yes
 No
Q10 Would you like to share your personal opinions?
Ans:
TASK 2
2.1 Create information for decision making by summarising the data using representative values
Q1 Have you ever visited Balti Palace?
Particular Respondent
Yes 60
No 30
Total 90
Mean 45
Median 45
Mode 0
Q2. What do you find best in Balti Palace?
Particular Respondent
Services 21
Food 39
Surrounding 14
Other 16
Total 90
Mean 22.5
4

Median 18.5
Mode 5
Q3. Are you satisfied with the quality of food?
Particular Respondent
Yes 55
No 35
Total 90
Mean 45
Median 45
Mode 20
Q4 Did the prices of the food and services of Balti palace affordable and reasonable?
Particular Respondent
Yes 65
No 25
Total 90
Mean 45
Median 45
Mode 15
Q5 Are you satisfied with the cuisines that are available in Balti palace?
Particular Respondent
Satisfy 51
Highly satisfy 16
Dissatisfied 23
Total 90
Mean 30
5

Median 23
Mode 5
Q6 Which of the cuisines that are in the menu of Balti palace go best for main dishes?
Particular Respondent
Italian 40
Chinese 38
French 12
Total 90
Mean 30
Median 38
Mode 4
Q7 Do you want Balti palace to introduce few new dishes in its menu?
Particular Respondent
Yes, in breakfast 44
Yes, in main course 17
No 29
Total 90
Mean 30
Median 29
Mode 15
Q8 In which location do you want Balti palace to open its new branch?
Particular Respondent
Prime location 65
Country side 25
6

Total 90
Mean 45
Median 45
Mode 15
Q9 Do you want that something unique should be introduced on festivals?
Particular Respondent
Agree 75
Disagree 15
Total 90
Mean 45
Median 45
Mode 0
2.2 Analysis of the results
To analyse the results that are collected from the sales of the Balti palace restaurant the
researcher need to use the measures of central tendencies ir order to properly analyse the sales
and net profits of the restaurant as provided below:
Year Sales Net Profit
2010 9852 2463
2011 9655 2413.75
2012 8645 2161.25
2013 8245 2061.25
2014 9325 2331.25
2015 9845 2461.25
2016 8756 2189
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2017 9852 2463
Mean 9271.875 2317.96875
Median 9490 2372.5
Mode 9852 0
From the research done above of the sales figure and the net profits of the Balti palace restaurant
and using the central tendencies such as mean, median and mode to find out the estimation of the
sales and net profits of the Balti palace restaurant. The investors should use this research to apply
these information to measure the actual issues that have arose in the research done.( Kacprzyk,
and Fedrizzi, 2012 ) These measures are discussed separately as below:
Mean: This measure of central tendency is calculates the average of the given data. Here,
the mean of sales and net profits of the restaurant is calculated in order to get the idea about
certain thought and facts. In the above data the mean values of sales and net profits are 9721.875
& 2317.96 respectively.
Mean: ∑X/N
Median: This central tendency calculates the mid value of the given data set. It is
calculated by re arranging the data in a systematic manner whether ascending or descending and
then selecting the mid value. But, in case of even numbers there is no mid value individually , it
is calculated by taking average of two mid values. The median of above data is 9490 & 2372.5
respectively. ( Rothman, 2017 )
Median: [L1 + (N/2) – c/F*i]
Mode: This is the most frequently occurring number in data set. The mode is considered
as that value which has more chances to be selected as sample. In the above data the modal
values of sales and net profit are 9852 & 0 respectively.
Mode: L + h ( fm – f1 / 2fm – f1 - f2 )
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2.3 Analyse the data using measures of dispersion
Year Sales Net Profit
2010 9852 2463
2011 9655 2413.75
2012 8645 2161.25
2013 8245 2061.25
2014 9325 2331.25
2015 9845 2461.25
2016 8756 2189
2017 9852 2463
Maximum range 9852 2463
Minimum range 8245 2061.25
standard deviation
639.725485
2111
159.931371
3028
Correlation 1
Standard deviation: The standard deviation measures the level of dispersion and
variation in a given data set. This measure of dispersion also measures the amount of risk that is
associated with research of the data . The measurement of standard deviation can be valuable for
the business in decision making and can also increase the productivity and profits of the
business.( Ferrell, and Fraedrich, 2015 )
Standard deviation: √∑Fdx2/N – (∑Fdx/N)2
Variances: It is calculated by taking the square root of the standard deviation. This
measure of dispersion also tells about the level of variation and dispersion in the data. It tells the
distance between the values from the given mean of a data.
S2 = ∑(X – X )2 / n-1
9

2.4 Explain how to find conclusion using Quartiles, percentile and correlation
Quartiles: Business entities have to work in different segments within a organisation, so
it is needed to divide the companies into various segments. The quartiles are of three types
namely upper quartile , inter quartile and lower quartile as used by the businesses. The upper
quartile covers the 75% of the organisation and inter quartile covers 50% of the organisation.
Similarly the lower quartile covers the 25% of organisation. The business decisions which are
approved are those that come between the upper quartile and lower quartile. The projects which
do not come between the upper and lower quartile or the projects that are below lower quartile
are disapproved by the management of the business. This method helps in enhancing the decision
making regarding which projects will be beneficial for the company in the long run and therefore
increases the overall profitability and goodwill of the company.( Schmoldt, and et. al., 2013 )
Percentiles: This measure is used in converting the data in the percentage form. For the
purpose of converting data it is required to take a common base. This decision can be effective
only when maximum limit of percentages is in range of 100%. This method helps in easy
comparison of data and improvise the decision-making enables the management to take effective
decisions in the management of Balti palace.
Correlation coefficient: This measure is used for identifying the relationship between
the two set of variables. The use of this measure enables the management in taking decisions
regarding the Balti palace restaurant. The correlation coefficient has an effective limit between
the 1 and -1. Whenever the relationship between the variables come between these limits then the
project is considered as acceptable.
TASK 3
3.1 Produce graphs using spreadsheet and draw conclusion using information
Q1 Have you ever visited Balti Palace?
10

Q2. What do you find best in Balti Palace?
Q3. Are you satisfied with the quality of food?
11
60
30
Yes
No
Services
Food
Surrounding
Other
Yes
No

Q4 Did the prices of the food and services of Balti palace affordable and reasonable?
Q5 Are you satisfied with the cuisines that are available in Balti palace?
12
Yes No
0
10
20
30
40
50
60
70
Column B

Q6 Which of the cuisines that are in the menu of Balti palace go best for main dishes?
13
Satisfy Highly satisfy Dissatisfied
0
10
20
30
40
50
60
Respondent
Italian Chinese French
0
5
10
15
20
25
30
35
40
45
Respondent

Q7 Do you want Balti palace to introduce few new dishes in its menu?
Q8 In which location do you want Balti palace to open its new branch?
14
Yes, in breakfast
Yes, in main course
No

Q9 Do you want that something unique should be introduced on festivals?
15
Prime location Country side
0
10
20
30
40
50
60
70
Respondent
Agree
Disagree

3.2 Create trend lines and graphs to assist forecasting
The trend lines helps the researchers in identifying the positive outcomes that are
estimated to occur in the future. This can be achieved only by using the trend lines chart. In a
trend line various problems can be identified by drawing an effective straight line on a column
chart. The trend line charts are used to provide directions to make results in order to achieve
better outcome for the upcoming business growth.
Year Sales Net Profit
2018 6500 1950
2019 7850 2355
2020 6650 1995
2021 7550 2265
In the above chart it is seen that the sales of the company has substantially increased in the
upcoming year but it decreased a little bit in the year after that and then it increased again. And
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1 2 3 4
0
1000
2000
3000
4000
5000
6000
7000
8000
9000
6500
7850
6650
7550
1950 2355 1995 2265
Sales
Linear (Sales)
Net Profit
Linear (Net Profit)

the net profitability is also following the same trend as of the sales.( Aharoni, Tihanyi, and
Connelly, 2011 ) By using these trend lines it has been said that it is directly impacting the sales
of the Balti palace restaurant. With this trend lines they need to find why the sales are decreasing
in the year 3.
3.3 Covered in PP T
3.4 Formal report
To,
Restaurant Managers
Date: 10th May, 2018
Subject: “Survey related with identifying reviews and perception of customers towards Balti
Palace”.
Introduction:
The research has been conducted with an objective of identifying the reviews and perception of
customers about Balti Palace and evaluating the data through using different techniques. Certain
issues and challenges are also be identified under this research.
Methodologies:
It is must required to use an effective techniques by researcher in order to finding out optimum
solution for the challenges faced by Balti Palace. The primary sources of collecting data are
much effective as compared to secondary source of data.
Findings:
Under this research, the reviews and perception of 90 respondents are selected on the basis of
which management take further decisions for the betterment of an organisation. It has been find
out that most of the customers approaches company to provide food products through using
online platform so that they can easily get without visit their outlets.
Recommendation:
On the basis of results obtained from the research, the restaurant has decided to conduct singing
and dancing once in a week. They also have decide to use online platform in order to attract lots
of customers.
Conclusion:
After analysing all information, it has been concluded that the restaurant should require to
consider negative aspects as well in order to make an effective decision. During research, the
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researcher has find out the problems regarding cost and time thus need to be considered as well.
TASK 4
4.1 Using data methods in decision making:
The various kinds of tools and techniques are used in order to make analysis of the Balti palace's
growth and performance. These are discussed in brief as below:
MIS: This is called as management information system , it proves to be an effective tool
in exchanging the information regarding financial positions of the Balti palace. This can be
applied at any stage of functioning such as operation and tactical levels.
DSS: The meaning of this is decision support system which is used by the businesses at
strategic level by the top management for making various crucial decisions regarding the
restaurant. If there is implementation of new rules in the company then it has to be spread all
over.
OSS: This technique can be determined at all the levels for managing the problems that
are arsing at the lower levels of department. (Levy, 2015 )
4.2: Critical path
Network diagram: This diagram shows the interdependent relationships among specific
groups and activities. These diagrams are drawn for purpose of analysing its impacts on a
project.
Name of
activity Time period Predecessors
Nature of
market 3 days 0
Location for the
restaurant 5 days 1
Investment plan 5 days 1
Rate of return
on investment 4 days 3
Target market 8 days 1, 2
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Advertisement 10 days 5
Lay out for
decision 3 days 6
 Path A: 1,2,5,6,7 = 3+5+8+10+3= 29 Days
 Path B: 1,3,4=3+5+4= 12 Days
 Path c: 1,5,6,7=3+8+10+3= 24 Days
From the given network diagram only three best suitable paths can be selected. Each of
them is taking respective days to complete a task. The one which is taking more time is the
critical path for this researchers.( Shapiro ,and Stefkovich, 2016. )
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4.3 Investment appraisal tools
Particular Project Discounting factor Discounted cash inflow
Year Cash Flow 12.00% Present Value
0 -190000 1 -190000
1 50000 0.893 44645
2 64000 0.797 51020.8
3 58000 0.712 41284.4
4 70000 0.636 44485
Total P.V 181435.2
Initial
investment
of year -190000
NPV -8564.8
IRR 9.94%
From the above data it can be concluded by using investment appraisal tools researchers can
analyse the total amount that is been invested in the assets and how much inflow the project is
providing to the company. The negative NPV of -8564.8 shows that the total outflow from the
project is greater then the inflow that is been derived from the project, and the IRR of 9.94% is
also lower then the company's cost of capital which is 12%. These both things implies that the
company should not accept this project because it will decrease the value of the company and
also its shareholders wealth. ( Mean, Median, Mode and Range 2017 )
CONCLUSION
It has been concluded from the above project report that business decision making is an
essential element which is required to be taken by management in order to achieve desired goals
and objectives. It is essential for an organisation to conduct research in order to find out the
perception and interest of customers regarding the products and services provided by them.
20