Improving Business Decisions: Data Capture and Utilization Research

This presentation provides a detailed overview of data insights and their application in business decision-making. It covers various data collection methods, including primary, secondary, and big data approaches, and differentiates between traditional market research and big data analytics. The presentation also explains how information is captured and stored using databases and management information systems (MIS), highlighting the impact of technological advancements on data utilization. It further discusses the strategic importance of data in daily business operations, particularly in the automobile industry, and outlines a research approach for improving data capture and use within organizations. The conclusion emphasizes the importance of data in staying current with market trends and making effective business decisions, with references provided for further reading. Desklib offers a range of similar resources for students and professionals.

Data insights For Business Decisions

Contents
 Introduction 3
 Types of the data is collected by the organization 3
 Difference between orthodox market research and big data 4
 How information is captured and stored with key references to different
types of the database and management information system 5
 Impact of technological development on the role and use of the data in
business decision making process 5
 How data and information is used in daily operation of organization and its
strategic importance 6
 Set out the outline for research into improving the data capture and use in
organization 6
 Conclusion 7
 Reference 8

Introduction
The data insights refer to a deep understating an
organization or individual gain from analyzing
the information on specific issues. By this
deep understating, an organization is become
able to make better and effective decision than
by relying on the gut instinct. It helps the
organization to optimize their performance.
The data insight is very between the industries
and department of an organization.

Types of the data is collected by the organization
Data collection is a process of the gathering
information and details form all relevant
sources in order to find solution of different
research.

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 Primary data- In this method,
information is collected directly
form first hand sources through
surveys, observation and
experiments research problems.

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 Secondary data- These data are collected by some other person or means
than an actual user. In this, information is already available and some other
person analyses it.

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 Big data collection methods- In this
approach, an organization collect and
measure the amount of required
information form variety of different
sources so that company can capture an
accurate and complete picture of
organizational operation and make critical
decision of business.

Difference between orthodox market research and big data
Orthodox market research is a process of determining viability of
any new product or service through the research conducted in a
direct way with the potential customers.

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How information is captured and stored
to different database and MIS
There are two types of Components of information in which
data can be store is Hardware and Software. Data can be in
numbers or in words.
Databases- The goal of information systems is to transfer the
data from one place to another to generate the information or
knowledge that can be store or can be used in decision
making.

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 Management Information System -
MIS is technical or computerize
database of information organised
and programme in such a way that
that data is secure and it will
produced regularly reports on
operation for each level of
management in the organisation

Impact of technological development on the role and use of the data
in business decision making process
For an organization, to take crucial and decision,
technology is providing them with some
system. In a business, decision support system
is highly interactive and flexible IT system
which is designed in order to support the
decision making when the issue is not
structured.