MG413 Data Insights Report: Unilever and Business Decision Making

This report delves into the critical role of data insights in business decision-making, particularly within the retail sector, using Unilever as a case study. It explores the types of data collected, including first-party, personal, engagement, behavioral, and attitudinal data. The report contrasts orthodox market research with big data approaches, highlighting the challenges associated with data volume, processing, and the need for specialized software and expertise. It examines consumer behavior analysis, management information systems, and various data storage methods. Furthermore, the report analyzes the impact of technological advancements on data usage, emphasizing its importance in day-to-day operations and strategic planning. It also provides insights on how to improve data capture and utilization, offering practical methods for enhancing data management within the retail industry. The report concludes by summarizing key findings and the role of management accounting systems, market research, and data analysis in informed decision-making.

DATA INSIGHTS FOR
BUSINESS DECISIONS

TABLE OF CONTENT
 INTRODUCTION
 TYPE OF DATA USED BY RETAIL INDUSTRY
 ORTHODOX MARKET RESEARCH AND BIG DATA
 SIZE OF THE DATA
 CHALLENGES RELATED WITH THE DATA
 CONSUMER BEHAVIOUR DETAILS
 MANAGEMENT INFORMATION SYSTEM
 WAYS TO STORE DATA AND INFORMATION
 IMPACT OF TECHNOLOGIES DEVELOPMENT ON ROLE AND USE OF DATA IN BUSINESS DECISION MAKING PROCESS
 THE WAY INFORMATION AND DATA IS USED IN DAY TO DAY OPERATION OF ORGANIZATION AND ITS STRATEGIC
IMPORTANCE RELATED TO FIRM
 CONCLUSION

INTRODUCTION
 Type, volume and source data and information collected internally or externally helps the
businesses in taking the decisions of the organization.
 With the help of data based on the fact, trends and the statistical number, it provides the
business leaders and operational managers in making the best and suitable decisions in the
favour of the company.
 So in the same context, the report will discuss the type of data based on its volume and
source that the Retail industry for example Unilever company of the UK uses in the
decision-making.

TYPE OF DATA USED BY RETAIL INDUSTRY
 The type of data collected by the Unilever company in order to take
the business decisions are 1st party data.
 1st party data are the information that the organization collect from
the customer directly by analysing the activity of the visitors on the
companies websites, consumer's behaviour and interest and by
analysing the social media platform of the Unilever company.
 For retail industry the customer's data is the key which help the
managers of the business in taking the decisions regarding whether to
continue the operations of the particular product or not.
 The customer data helps the Unilever company in taking the
decisions related to the operations of the food products for all age
groups.

CONT.
Personal data
 In this, the organization collect the personal details of the customer is collected from the laptop and
mobile devices of the customer's such as gender, non-personally identification number, social security
number etc.
Engagement data:
 In this the data is collected related to the interaction of the customer's with the companies websites,
social media pages, mobile apps, emails and paid ads.
Behavioural data:
 In this the data related to the behaviour of the customers is collected such as the purchase history of
customers, repeatedly product usage information and mouse movement information of the qualitative
data.
Attitudinal data:
 In this the information related to the attitude of the customers with the product of the company is get
collected.

ORTHODOX MARKET RESEARCH AND
BIG DATA
 Orthodox market research is the process of visualizing the
demand of the new product or services of the company in the
market through the thorough research.
 The research is related to the interest of the customer on the
product and services of the company.
 The common market research that the company use in their
decision-making process is surveys, interviews, focus groups
and customer's observations.

SIZE OF THE DATA
 This is one of the key difference between the
market research and the big data.
 Big data generally used for the purpose of
capturing, and analysing the large amount of data
which is actually so large that to handle it
requirement of the new digital technology
increases.

CHALLENGES RELATED WITH THE DATA
 In order to understand and processes the large amount of data in the case of big
data research theory, the different management accounting software has arisen.
 The impact of this on the organizations is that it is not only time-consuming but it
also expensive.
 To use the big data study, company need to has the high budget to implement the
expensive software and also hire high qualified software specialist.

CONSUMER BEHAVIOUR DETAILS
 Identifying and analysing the consumer behaviour details are the biggest
challenges all the organizations especially retail sector are facing.
 Because big data has the ability to track the behaviour of the large number of
customer in real time and in large scale.
 So the company uses the big data research theory are capable to deal with the
consumer behaviour details.

MANAGEMENT INFORMATION
SYSTEM
 The key data is captured and stored by implementing
and incorporating the different software in the
organization systems.
 In order to convert the data into information and
further convert it into the knowledge, management
information systems are highly preferable.
 The requirement of which software to incorporate in
the business is depends upon the type data and whether
the data is qualitative and quantitative.

WAYS TO STORE DATA AND
INFORMATION
Primary storage
 In order to store the data and information which are currently in use, the company uses the
primary storage such as the memory chips. It is also known as the Random Access Memory.
Secondary storage
 The secondary storage is the non-volatile memory which is generally used by the
organizations to store the information and data externally to the computers.
Data warehouse storage
 It is a computer system which is used by the companies and which help the
companies to store the historical data of the companies.
 It includes the previous salaries, sales and other information.

Impact of technologies development on role and use
of data in business decision making process
 There are numerous development and growth in technology that has affected the way data are gathered and
processed so that appropriate decision can be taken by business.
 Large enterprise have data related to number of employees, customers, stocks and range of operation so
innovative technology contribute in effective handling and managing the data.
 Likewise company operating in retail industry are collecting useful information through customers' loyalty
programs and RFID.
 Moreover, innovative technologies has contributed in reducing chance of frauds and timely analysis of inventory
that helps manager in taking appropriate decision about whether company has sufficient resources or not.
 Companies such as Unilever are investing huge amount of capital in new and innovative technologies in order to
extract and analysis useful information.