Data Insights for Business Decisions: Facebook Case Study Presentation

This presentation delves into the realm of data insights for business decisions, specifically focusing on the technology industry and using Facebook as a case study. It examines various data types, including big data, and categorizes them as first, second, or third-party data. The presentation contrasts orthodox market research with big data, highlighting their distinct methodologies and applications. Furthermore, it explores how information is captured and stored, referencing different database types and management information systems. The presentation also touches on the impact of technological developments on the role and use of data in business decision-making. The presentation covers types of data used in the industry, orthodox market research, the ways information is captured and stored with key references to types of databases and management information systems, and the impact of technology development on the role and use of data in business decision-making.

DATA INSIGHTS FOR
BUSINESS DECISIONS

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
Type of data collected and used by organization if it is big data and if it is first, second- or
third- party data............................................................................................................................1
TASK 2............................................................................................................................................3
Description of orthodox market research and ways in which it is different from Big Data........3
TASK 3............................................................................................................................................4
Explanation of ways in which information is captured and stored with key references to types
of databases and management information systems....................................................................4
REFERENCES................................................................................................................................6

INTRODUCTION
Data insight can be defined as a kind of deep understanding of an organizations or
individual’s gain by analysing data or information on a particular issue. It further help an
organization to make effective and better decisions that can further help them to enhance their
insight, lead actions that can increase efficiency of business that can further enhance efficiency,
revenue and profit of an organization (Alharthi, Krotov and Bowman, 2017). Today for most of
the organizations data insight is one of the most important things which is required to be focused
upon by them as it not only helps in decision making but can also help in enhancement of
strategic growth of organization, that allows them to forecast consumer trends, boost
competitiveness, and makes evidence- based decision making which is fruitful for both
organization and customers. This presentation will focus upon data insight for business decisions
in technology industry. Organization focused upon in this is Facebook which is a social
networking service publisher founded in 2004. This presentation will focus upon type of data
collected and used by organization, orthodox market research and ways in which it differ from
big data, ways in which information is captured and stored with key references to types of
databases and management information systems, impact of technological development on the
role and use of data in the business decision making process, ways in which information and data
is used within the day to operations of organisations, ways in which data capture can be captured
and used within organization.
TASK 1
Type of data collected and used by organization if it is big data and if it is first, second- or third-
party data
Big data can be defined as a collection of data that is huge in volume and yet has scope of
growing exponentially with time. Big data is so large that it cannot be dealt with using traditional
data processing software or applications (Venkatesh and et. al., 2019). First party data is a kind
of information which is directly collected by organization from their customers. Second party
data is a kind of information which is essentially someone’s first party data. This data is
collected directly from customers so organizations can be confident about accuracy of this data.
Whereas, third party data is a kind of data that organization buy from outside source who are not
original collectors of the data.
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There are many different kinds of data which is being used in this industry for many
different purposes. Some of these data are big data and some of them are not and each of these
data are classified into three different types of data that are: first, second- or third- party data. In
technology industry data is one of the most important part of organization that can become one
of the main reasons for success and failure of business (Ionescu, 2019). Some of the most
common type of data which is being collected in this industry have been explained below with its
type and explanation whether it is a big data or not.
Type of data used in the
industry
Is it Big data Is it 1st, 2nd, or 3rd party
data
Details of customers is one of
the most important type of
data which is being used in
this industry
Yes, data or information
stored about customers is a big
data and it is used to identify
type of customers, their
preference and ways in which
they use organization’s
products and services.
It is a 1st party data in which
data about customers is
collected and managed by
themselves. This data is
collected in the form of
customer feedback,
organization’s application and
website.
Non-traditional type of
personal data of customers
such as photos, videos etc.
Yes, it is a kind of big data
and an important type of data
which is collected by
Facebook because it directly
help them in understanding
type of data which is being
preferred by their customers,
posted and shared by them.
It is third party data which is
being collected by
organization for understanding
type of data that customers
prefer posting and sharing.
This data is collected by
Facebooks application or
website.
Data collected by other
organizations with whom they
have collaborated with or who
uses Facebook as a platform
for sponsorship
Yes it is a big data which is
being used by organization for
expansion of their business
and customer segment as well.
it is a second party data which
is used by them for attracting a
greater number of customers
and expand business by
collaborating with other
organizations.
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TASK 2
Description of orthodox market research and ways in which it is different from Big Data
Orthodox market research can be defined as a kind of process which is used for evaluating
feasibility of new products or services using orthodox devices for market status, forecasting,
product offering etc. orthodox market research uses traditional methods or devices for
conduction of market research in order to understand human behaviour or factors that can
influence behaviour or market trend directly or indirectly (Paas, 2019). Orthodox market
research is completely different from big data and implication of usage of both orthodox market
research and big data are completely different from each other. Difference between orthodox
market research and big data.
 Orthodox market research uses traditional methods or devices for understanding human
behaviour a factor that influence market trend of behaviour of customers. Whereas, Big data
uses different kinds of analytical models or software that helps in finding new information
from variety of sources. It can effectively help in analysing emerging trend by analysing
current data collected by the organization.
 Some of the most common methods used for orthodox market research are interviews, focus
groups, questionnaire, survey. Other than this, today internet is also used as source of
conducting orthodox market research. Whereas big data uses, clustering, forecasting,
analytics, regression analysis, hypothesis testing and many other methods are used for big
data.
 Orthodox market research is not completely dependent upon technology or advance modern
system or software. But in order to collect data or market research, this orthodox market
research definitely use modern tools or technology (Bloom and et. al., 2018). Whereas, big
data is majorly dependent upon model and advance technology for gathering, analysing and
storing data or information. Most commonly used advance and modern technology used by
big data are cloud computing and business intelligence tools or software’s.
 Organization’s using orthodox market research methods or tools majorly require people with
skills such as questionnaire design, time management, quantitative and quantitative analysis,
psychological understanding etc. Whereas, organizations that are using big data require skills
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such as data analysis, software engineering, machine learning, data visualization, cloud
computing etc.
 Organizations that still uses orthodox market research only use it for gaining understanding
or behaviour or market trends of smaller segment. For larger segments usage of orthodox
method is not appropriate (Groomer and Murthy, 2018). For that it is important for
organizations to use big data for collection and analysis of large data collected by
organization because with the use of orthodox market research methods it is difficult to store,
use and analyse large about of data.
Above specified are some of the main ways or factors that differ orthodox market research
from Big Data and makes usability of orthodox market research in every situation a bit difficult.
TASK 3
Explanation of ways in which information is captured and stored with key references to types of
databases and management information systems
There are many different ways in which an organization can capture and store data or
information in an appropriate and adequate manner without risk of theft, corruption or any other
kind of data storage issues. Some of the most common ways though which information can be
captured have been explained below with explanation of ways in which it is stored in reference
to databases and management information system have been explained below in detailed manner:
 Transaction processing system is one of the most most commonly used systems that are
being used by organizations for capturing data or information related to transactions. It
majorly helps in capturing truncation activities during business operations of organizations.
This system directly captures, modify data and store it within real time organizational
systems. Mostly it stores data within cloud- based servers or databases (Groomer and
Murthy, 2018). There are various kinds of information systems that stores, modify and uses
this data or information are: management information system, transaction processing and
management systems. This system is the main part of organizational management
information system. This system helps in analysing stored financial or transactional
information by soring it and providing a monthly or annual summary report of transaction
done within different operations or functional of the organization.
 Cameras are another type of systems that helps in capturing data or information of people in
terms of pictures or videos. This type of data is completely stored within cloud- based servers
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or cloud- based databases because this data is extremely large in size and continuously
growing in nature. Some of the organizations that make CCTV cameras have developed their
own cloud- based databases that helps them to store their client’s or customers pictures or
videos so that they can access it whenever they want it to be used or viewed. It is important
to store this data or information in cloud- based servers because this type of data is normally
in in GB’s, or TB’s.
 Loyalty cards it another way of capturing customers data in terms of their shopping,
preferences and buying behaviour. Loyalty cards help organization retaining their customers
and enhancing their loyalty towards organizations (Groomer and Murthy, 2018). All the data
gathered by organization with the help of loyalty cards is sorted within their own internal
databases that are specially designed to stored customer information in an appropriate and
sorted manner. Mostly of the organizations like Facebook uses customer information system
for storing, capturing and analysing customers data or information sorted within database in
an appropriate manner.
 Biometric or facial data is another type of data which is collected by Facebook. This data is
captured by Facebook as a login feature of its application and website. This data is stored in
biometric and facial recognition database systems in order to be sorted and used in an
appropriate manner. this data is mostly used by facial recognition information system so that
they can easily recognize their customers and provide them with an advanced version or
feature of their application.
TASK 4
Describe impact of technology development on the role and use of data in business decision
making process of technology sector
Technology development means any kind of discovery, invention, composition,
technology, advancement, enhancement of process. It include any kind of development
protectable by copyright, patent and production under specific regulation. This may have
significant impact on the labour market. Where share of different information in regards of
business growth and development. By using big data, the primary of companies to offer a better
improvement in customer service. This can help to increase the overall profitability, enhance
customer experience in context of primary goals. Big data is already an advancement of
technology that always support for organisations to store large amount of data while enabling
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significant price or cost benefits (Ghasemaghaei, Ebrahimi and Hassanein, 2018). The significant
role of big data technologies such as cloud based analytics and Hadoop. In most of cases,
technology sector such as Facebook can be used big data technology in order to analyse
information and improve decision-making. Furthermore, data breaches are common problem
which may arise due to the lack of security. But nowadays, it can be resolved complex issue with
the help of modern technology such as big data.
The significant role of big data which has potential to bring economic as well as social
benefits to enterprise. For example- government agencies have been formulated the policies and
procedures for promoting the development of advancement technology like big data.
In technology sector, Data is all about the way in which make decision and integral part
of organisation’s management. It does not matter if it applicable or not. At some level, Facebook
needs a proper use of big data technology in which help to make important decisions. It ensuring
their better contribution towards operational activities. Technology is talking on increasingly
major role in term of decision making (Hasan, Mahdi and Nat, 2017). This will help to improve
the collection of information or data, as per needed for business decisions. In some situation, it
provide the strong network links between central database and local retail outlets. For example-
it enabled organisation to collect sales data and make decision on the basis of up to date
information or data.
Single data cannot improve the business decisions. So as, it would require suitable
technology like big data that help for organisation to make important decision in regard of
business growth and development. Data Requirements are different at every stage, so that large
amount of raw data uses for purpose unnecessary. At that time, Facebook will use the big data
tool that allow user to select, analyse and manipulate data in the form of various phases
(Merendino and et.al., 2018). In technology sector, decision making is a group process,
particularly for data management. Technology support decision making in a group environment.
It allows all member to access essential data or information through network. Different group
can be used collaboration tools such as video to conduct a proper meeting between members in
the workplace.
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Discuss how information data used in business operation of technology sector
In context of technology sector, traditionally business is mainly focused on the valuable
aspect- equipment, inventory and human resources. The explosion data in term of technology
over last decade. In fact, technology sector today consider big data techniques the most valuable
assets because it can be generated large amount of information or data.
Information data used in business operation and process- in order to competitive enterprise
must find the better way to increase efficiency while maintaining quality standards for services.
If in case, it continuously improve technology business process, because they can collect or
gather relevant information regards of business operational tasks (Popovič, Hackney and
Castelli, 2018). Usually, a data can be range from collecting information, it takes their client to
pay invoices to tie or take to assemble or launch a service. At that time, Data plays important role
in differentiate types, employ enterprise resource planning system. When organisation will track
the business resources such as cash raw, materials and production capacity.
Modern technology has made it possible for business to capture real time data about
physical world. Business have an endless source of data or information which is already
available into different ways. Whenever, technology sector such as Facebook can use internet,
access, and share large amount of information or data. For Now this kind of data is considered to
be public. Company will collect personal information of users, share or sell data on regular basis.
This has become a major controversial subject in the past decade (Merendino and et.al., 2018).
On the other hand, Facebook as technology business can use formation of people such as age,
gender and interest. In order to target people through ads. Advertise particular product as well as
service in marketplace. This is way to use data in business operations, enhance organisational
profitability or productivity in marketplace.
For Example- Facebook will be collecting the lot of data or information- everything from
email address. But it does not sell access information or more specifically access news feeds.
Main business operation of Facebook is to gather, collect information in regards of product,
service. It may take a grant permission from other companies. Afterwards, Facebook can perform
operational tasks to share information or data for potential consumers (Rejikumar, Aswathy
Asokan and Sreedharan, 2020). Facebook just announced changes to do something in data
sharing API and ensure that agreeing to share own data. It won’t able to gather data from outside
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company without permission. Facebook can use big data technology in order to organise huge
amount of data in the structured format. In some situation, it may refer to the visualization while
generating interactive reports.
TASK 5
Strategic importance to the Facebook within technology sector
Facebook is the most commonly used social media platform in which people can share
image, video and audio from one person to another (Rejikumar, Aswathy Asokan and
Sreedharan, 2020). Running a Facebook business page can help individual people to reach and
connect with colleagues. The strategic Importance of Facebook within technology sector.
The Most popular social media network such as Facebook with more than 2-billion
monthly active user’s world-wide. It has been stored large amount of user data or information,
making it a massive data. On the basis of estimation, there will be more than 170 million users
with share information on platform.
Facebook is probably the only enterprise that possess with high level of detailed data or
information collected. There are many users who can use Facebook and also access huge amount
of information or data. Heavily investing in its ability to store, collect, gather and analyse data.
Facebook does not stop there, but it needs to be analyse user information and also find behaviour
of every consumers.
Here are explain strategic importance of Facebook in technology sector as follows:-
 Tracking or monitoring cookies- Generally, Facebook can easily track its user’s data
across web with the help of tracking cookies. If users can be logged into Facebook, where
it can easily accessible the tracking activities of client.
 Facial recognition- one of the latest investment of Facebook in strategic plan in term of
facial recognition. In context of technology sector, Facial recognition is better approach
in order to find client profile with image. Sometimes, it is also sharing from one person to
another.
 Analysing the user’s behaviour- it has been predicted the data accurately on the range of
personal attributes that are highly sensitive (Rejikumar, Aswathy Asokan and Sreedharan,
2020). It just analysing user’s Facebook and conduct a research on focus on the different
design patterns. This can very accurately predict satisfaction of individual people,
emotional stability, gender and age.
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 Additionally, the strategic importance of Facebook is providing the better advertisement
facilities to the consumers. In order to focus on the more sales on promotional activities.
This type of approach will be consider as strategic importance within technology sector.
It helps to make importance decision on the basis customer demographic data. The same
thing can happen with Facebook enterprise where they always try to provide information
on the basis of demographic segmentation.
TASK 6
Outline for research into improving data capture and use in technology sector.
In context of technology sector, Facebook keeps collecting large amount of data or
information even when they have left its website. On the basis of research, it has found that large
amount of data collected through different sources. Several studies have analysed the importance
of social media practices. Sometimes, it is very difficult to visualise research outcome because of
the complexity of analysed manner.
Facebook will focus on the improved the data captured by using modern technology. On
the basis of investigation, it has found that uses Algorithmic factor which primary aims at
mapping and visualizing a complex, invisible exploitation process. This is part of hidden black
box and assume as largest platform (Rejikumar, Aswathy Asokan and Sreedharan, 2020).
Generally, Facebook can gather data outside its platform which is known as cookies. This will
help to store, receive identifier and other information related device.
On the basis of research, Facebook can be improved the “Data capturing” with the help of
modern technology.
 By using graph API- this is the best way to improve data capture process in which
represent the idea of social graph. In order to get information, but it is important to
interact with graph by using HTTP-based API. It is one of the data visualization approach
in order to represent the capturing data in the form of hierarchical elements. Initially, the
first node is that when represent the individual object with unique ID. Second edge can be
established a connection between one node to another. By using graph API, it will be able
get valuable information or data captured from Facebook.
 Getting the data of latest posts IDs- this is all about the way in which get data from
different post. It suppose as digital markets, it is able to check about trending in order to
increase high click rates (Merendino and et.al., 2018). Therefore, Facebook can easily
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track data about latest posts. This will help to improve the speed, performance of data
capturing.
Ongoing process-
Business continuity should be consider an ongoing process, concerned with different
development strategies, plan, policies that will provide the better protection of existing modes in
the organisation. Before capturing a data, Facebook can be tested by internal auditors and find
accurate information. On the basis of regular plan, it can run the program and make test plan to
generate a better outcome. According to evidence, it has been changed management as showing
ongoing process in data capturing.
Encourage new customer registration-
Each and every users have been created an account on Facebook in order to record, store
all information within database system. It is also encouraging the visitor to access information
through Facebook site. Moreover, it offer some reward that it can tie to client’s account. In this
way, it will be encouraging users to see various kind of advertisement.
When using a big data technologies which means that remain constant stream of new
platform to collect data or information (Merendino and et.al., 2018). This is completely beyond
traditional approach. Technology enables researcher to be more targeted in which technology
sector measure and received either positive or negative feedback. With increased the stream of
data collection, the ability of technology to analyse equally, data analytics easier and more
sophisticated.
CONCLUSION
From above discussion, it has concluded that data driven decision making plays important role in
which involves collecting data or information on the basis of measurement. it has been analysed
the different pattern, facts from insights and help to utilise develop strategies. in this report, it has
been summarised about the different type of data collected and used by organisation. Discussion
on the orthodox market research and also differentiate from big data. Furthermore, it has
explained the information which has been captured or stored in the database management
information system. However, it can be identified the impact of technological development on
the role and use of data in context of business decision-making
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