MG413 Data Insights: The Role of Information & Data in Business

This presentation explores the role of information and data within a business context, specifically focusing on the retail sector. It identifies the types of data collected (structured, semi-structured, and unstructured, including big data and both primary and secondary sources), describes orthodox market research and its differences from big data analytics, and explains how information is captured and stored using various database systems like cloud storage, server-based storage, relational, hierarchical, network, and object-oriented databases. The presentation further analyzes the impact of technological developments on the role of data, highlighting its strategic importance in day-to-day operations, including customer loyalty enhancement, improved collaboration, and better decision-making. It also outlines how retailers use customer information for targeted marketing and improved services, emphasizing the importance of efficient information management systems for business growth and productivity. The presentation concludes by referencing the use of data for employee training and development, ultimately contributing to the overall growth of the retail industry.

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 The PPT will determine they type of data is collected by the organistaion and then
determine orthodox market by describing how different from the big data.
 Further, it will explain how an information is captured and stored by referring to types of
database.
 Moreover, it will describe the impact of technological development on this role by
determining the role of data into this
 Lastly, it is analyse how an information and data is used for a day to day operations by
determining the strategic importance. Also, it iutline the research by improving data
capture use in the chosen sector.

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 With the help of this, retail sector can collect data in the form of structures, semi-
structured and unstructured data that assist to generate insights and support automation as
well.
 Another way through which big data helps retail sector is from social media posts from
an existing customers and this in turn help to make decision effectually. Also, with the
help of this system, company might also faces many challenges that affect the business
performance like not having expertise might lead to not analyse data effectually and this
in turn create negative impact upon the business performance.

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 Sometimes, interview as a source of primary method is also used by the retail industry in
order to answer the specific questions. Like, Tesco uses this method and ask to each top
management or employees regarding employee engagement. This in turn help to create a
better outcome can determine the existing situation of a company as well.
 With the help of this method, company can easily determine the trend and then make
decisions affectively. Therefore, it will help the business to make decision for the welfare
of a company so that effective outcome can be generated.

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 With the help of secondary data, retail sector can easily determine the trend and this in
turn assist to generate a better outcome for the company. Like, to motivate employees,
there are many research already conducted and this in turn help to make decision
accordingly. That is why, it will assist to conclude a better outcome and make the
business different from other company as well.
 This research require less time and less money which in turn help determine the decision
for the welfare of a company. The expertise work in this actually get a leverage in order
to answer the research question and then make effective outcome as well. That is why,
with this source retail sector determine the customer buying behavior so that effective
outcome can be generated.
 Overall, it can be stated that with this type of data collection methods, company can
actually determine the facts about the business so that effective outcome can be generated
so that decision can be taken in smooth manner.

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 Apart from this, interview is also fall under this market research which assist sector to
realize about the company’s strength and weakness. Also, under this methodology
company might make effective decision but do not only relied upon this outcome because
it might fluctuate the views and as a result, affect the outcomes as well.
 As per the facts, orthodox market research is not completely diminished but there are
some major companies who do not prefer this method because of large data. At that time,
big data is used which in turn visualize the data in an effective manner in order to
evaluate the results effectively. It has been also determined that with the change in
market trend, companies are relied upon the big data in order to visualize the same so that
it generate an appropriate results.
 The major difference between orthodox and big data is such that big data is now
considered as a present as well as future of media research and that is why, it becomes a
personal choice of all the top companies in order to generate an effective outcome.
 In order to determine the customer views, survey has not considered a best option
because it is a time consuming method which affect the personal time. Also, the views
might be fluctuate and that is why, to minimize the chances of negative results, there is a
need to adopt Big data that helps to create a better outcome and with the help of Google

Dashboard and Analytics company can analyse the consumer behavior in an effective
manner.
 The traditional data sets are actually tends to be measured in GB and TB, so researcher
faces an issue related to storage. However, with the help of big data company can easily
distinguished not only by its size but it provides enough volume as well which in turn
assist to generate a better outcome.
 Therefore, it can be stated that adopting big data rather than orthodox market research is
considered one of the best option for the researcher as it saves time and that is why, there
is a need to adopt the same that provide an organized data to interpret and improve the
results as well.

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Information storage in retail sector
The retail sector uses three main type of data storage available in the market in order to store the
data or information captured from sources. This three types of data storage are as follows:
Cloud Storage: For example, Tesco company uses this storage system in order to store the
important information so that management can access it from other place such as during business
meetings. With the help of this system, retail sector able to store their information in flexible
way. This is also best for disaster recovery, automatic software update, increased collaboration. It
is cost effective as well.
Server-based storage: For example, Tesco company of retail sector uses this system only
because they can afford it but the retail sector small companies with low budget can’t use this
storage system. This system also requires high physical space because with hyper-convergence,
retail sector can have different servers and the data is striped across the servers.
Traditional storage system: This is basically uses as a back-up method for the cloud for the
cloud. It provides benefits to sectors in the form of affordability, faster data access time,
scalability etc. The retail sector purchases the traditional storage systems in mainly two ways
such as first purchasing a storage area network from a technology vendor or they can go for
purchasing network attached storage to local technology products store. Not only that, retail
sector and Tesco company basically use this system to usually store data and information which
they can access it while signed onto the internet connection where they have store important
information. Generally, the traditional storage system is easily manageable by the employee and
also people are very used to it. The employee can delete, edit, overwritten, and duplicate as
needed by people.

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Relational Database systems: In this system, the relationship between the data is relational. Not
only that the data is stored in tabular form of rows and columns. If retail sectors want to use this
database system within their industry, then they need to use the structured query language in
order to query relational database management system. Each column of a table denotes an
attribute while on the other hand each row denotes a record. The retail sector can use this
database system without any training. For example, Tesco company uses this system the benefit
of which is that they can modify the data without specifying the entire body.
Hierarchical Database systems: This is another database system in which data is stored in the
stored by the people in the form of collection of fields. In this, each fields contains only one
value. Further, the records in this database are linked to each other in the form of parent-children
relationship. For example, retail sector can use this database system to access the data and update
the data quickly and rapidly. The feature of this system is a double-edged sword.
Network database systems: This is a database management system which basically uses the
network structure to create a relationship between the entities. This is somehow like hierarchical
database but here one nodes have relationship with the multiple nodes. For example, retail sector
usually uses network database management system such as IDS (Integrated data store), IDMS
(Integrated Database Management System) etc. With the help of this system, retail sector able to
store its data in most concise manner where database in organized in many to many relationships.
Object-oriented database systems: This model is another significant system which is used by
retail sector in order to manage database of the organization. The object-oriented DDMS is
helpful in increasing the semantics of C++ and Java. In simple term, the database functionality is
added to object programming languages. With the help of this system, the retail sector able to
develop analogical of the application and database into a language environment and constant