MG413 - Role of Information and Data in Business Decision-Making

This presentation delves into the role of information and data within a business context, specifically focusing on the retail sector. It examines the types of data collected, differentiating between primary and secondary data, and whether it qualifies as Big Data. It contrasts orthodox market research with Big Data analytics, explaining how information is captured and stored using databases and management information systems. The presentation further describes the impact of technological developments on data utilization in business decision-making, highlighting both opportunities and cybersecurity challenges. It elaborates on how information and data are used in day-to-day operations and their strategic importance, particularly concerning consumer database management. The presentation concludes with an outline for research aimed at improving data capture and use within the retail sector, emphasizing the role of technology and both primary and secondary research methods. This assignment solution is available on Desklib, a platform providing study tools for students.

Data management

Table of Contents
MAIN BODY ..................................................................................................................................3
State what type of data is collected and used by the organisation and if this is Big Data, and if
this is primary or secondary data................................................................................................3
Describe orthodox market research and how this is different from Big Data.............................3
Explain how information is captured and stored with key references to types of databases and
management information systems...............................................................................................3
Describe the impact of technological development on the role and use of data in the business
decision making process within your chosen sector...................................................................3
Set out how information and data is used within the day to operations of organisations within
that sector and what is its strategic importance to the organisation within its sector.................3
Set out outline for research into improving data capture and use in a sector/organisation.........3
REFERENCES................................................................................................................................4

MAIN BODY
State what type of data is collected and used by the organisation and if this is Big Data, and if
this is primary or secondary data
The organisations generally prefer to collect secondary data in order to collect precise
and systematic data (Ferraris, Mazzoleni, and Couturier, 2018). The secondary data helps an
organisation to make quick decisions and cost effective approach.
Describe orthodox market research and how this is different from Big Data
The orthodox market research is considered as key approach in research as it includes
ideas and beliefs which are preferred by most of the people. Big data includes information and
data is represented in unstructured and semi structured form. The Big data includes large amount
of data and orthodox market research includes less data.
Explain how information is captured and stored with key references to types of databases and
management information systems
The information is stored and captured in different types of databases and management
information systems in the form of tables (Lai, Sun, and Ren, 2018). Tables are most simplest
form of storing an information for a longer time period.
Describe the impact of technological development on the role and use of data in the business
decision making process within your chosen sector
The information and technology plays a key role in facilitating decision making with the
help of decision support system. Technological development also increase the chances of data
security and other major cyber security issues (Piryonesi, and El-Diraby, 2020). It is key role of
a business to focus on implementation of best technological tools to facilitate data management.
Set out how information and data is used within the day to operations of organisations within that
sector and what is its strategic importance to the organisation within its sector
In the retail sector, the information is stored with the help and support of advanced
computer systems and software. The information is used to perform data analysis and also
calculate management of data with appropriate approach. The information is also used in day to
day tasks of the company to manage key operations related to big data management. The
strategic importance of information and data management is, it helps in future management of

different aspects related to consumer database management. In the retail sector information and
database management play an important role by assisting an organisation to perform key
operations related to big data management of various customers.
Set out outline for research into improving data capture and use in a sector/organisation
In order to improve data capture, a retail sector organisation must take support of
information and technology (Qi, 2020). The organisation can also choose big data management
and improve business functioning. The organisation can also focus on primary and secondary
research in order to increase chances of precise data collection.

REFERENCES
Books and Journals
Ferraris, A., Mazzoleni, A., and Couturier, J., 2018. Big data analytics capabilities and
knowledge management: impact on firm performance. Management Decision.
Lai, Y., Sun, H. and Ren, J., 2018. Understanding the determinants of big data analytics (BDA)
adoption in logistics and supply chain management: An empirical investigation. The
International Journal of Logistics Management.
Piryonesi, S.M. and El-Diraby, T.E., 2020. Role of data analytics in infrastructure asset
management: Overcoming data size and quality problems. Journal of Transportation
Engineering, Part B: Pavements, 146(2), p.04020022.
Qi, C.C., 2020. Big data management in the mining industry. International Journal of Minerals,
Metallurgy and Materials, 27(2), pp.131-139.