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Assignment on Business Analysis

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Executive summary
This report's objectives are to give an understanding of how to prepare and present data and
generate information from those data in a way that is helpful to measure the efficiency of the
information systems. In addition, the methods of data analysis and presentation, as well as the
sources from which the data was gathered, are the primary focus of this report. Lastly, following
the completion of the data analysis, this report will detail the required format that should be used
for presenting the data. The Marks & Spencer corporation will be used for the analysis described
above.

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Table of Contents
Executive summary.........................................................................................................................2

Introduction......................................................................................................................................4

Question 1........................................................................................................................................5

a) Population................................................................................................................................5

b) Sampling techniques................................................................................................................6

Question 2........................................................................................................................................9

Data..............................................................................................................................................9

Primary data.................................................................................................................................9

Secondary data...........................................................................................................................10

The main differences between primary and secondary data......................................................11

The advantages and disadvantages of primary data..................................................................12

The advantages and disadvantages of secondary data...............................................................13

Question 3......................................................................................................................................13

Question 4......................................................................................................................................15

Conclusion.....................................................................................................................................17

References......................................................................................................................................18

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Introduction
Mark & Spencer is a British corporation that successfully runs a retail business. It offers clients
all over the world high-quality items, apparel, and homeware at very reasonable prices
(Esoimeme, 2020). The company is conducting its business worldwide and generating a lot of
data every day.

Figure: Mark & Spencer

The organization is continuously working to improve its information systems in order to make
the data more understandable. The business is attempting to collect feedback from both the staff
and the clients through a series of surveys. In order to accomplish this, the researchers working
for the organization are locating and gathering the relevant data from the appropriate sources.
Additionally, the company is determining the outcomes using the necessary population and
sample techniques. From several sources, the store’s management is collecting data and using
appropriate population and sampling thecniques, they

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Question 1
To gauge the response of colleagues to the possibility of extending the working days and
working hours, I will use a regression model to see the effect of response level on extending the
working days and working hours. First of all, the colleagues will be divided into three groups.

Group one: The people who respond positively to the extension of working days and working
hours.

Group two: The people respond negatively to the extension of working days and working hours.

Group three: This group consist of neutral people who neither respond positively nor negatively.

Using appropriate population and sampling techniques, the survey will be conducted.,

a) Population
The term "population" refers to the total group of people, often known as the "target population,"
that the researcher plans to analyze. In this case, the population comprises all of the other people
working for the company. The relevance of identifying the population comes in ensuring that the
outcomes and conclusions generated from the survey are applicable and representative of the
entire group. This can only be achieved by ensuring that the population is properly characterized.
Generally, Population refers to the people who are willing to participate in the research and share
common characteristics. The researcher is able to determine the borders within which the
findings from the survey can be applied when the population is defined (Van and Miocević,
2020). For instance, if the company has a number of different departments or divisions, the
population might be further separated into subgroups depending on these departments or
divisions to account for any possible disparities in replies. It is very difficult and costly to
conduct a survey based on the whole population. In this case, researchers divide the whole
population into smaller groups for the study. These smaller groups are known as “Samples". The
samples must be representative of the population. To achieve external validity, which refers to
the degree to which the results of a study may be applied to a wider community in broad terms, it
is essential to have a solid knowledge of the population (HR and Aithal, 2022). The researcher
will be able to acquire insights into the thoughts, views, and opinions of their coworkers on the
potential of increasing the working hours if they conduct a survey on either the complete

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population or a representative sample of that population (Van and Miocević, 2020). This
information can be used to inform decision-making and changes to organizational policy inside
the organization.

To conduct a survey among colleagues to measure their response level to the possibility of
extending the working days and working hours, the term “population” includes the total number
of colleagues who are ready to take part in the survey. The population includes all the colleagues
who are working in the company and gets influenced by the possibility of the extension of the
working days and working hours. To ensure the validity and reliability of a survey, the target
population should be identified accurately. The survey is about the response level to the
extension of the working days and working hours. So, the survey will consider all the relevant
employees as a population.

Let us assume, N 1 is the first group of the population who are responding positively to the
extension of working days and working hours. N 2is the second group of the population who are
responding negatively and N 3 is the third group of people who are responding neutrally.

b) Sampling techniques
The sampling technique is a statistical methodology that is utilized for the purpose of picking a
sample from a population that is representative of the whole population. It entails doing a
thorough study of the data obtained regarding the population, as well as selecting a suitable
sample on the basis of the data ( Rahman et al .,2022). Different types of sampling techniques are
used to select a representative sample from a large population. Selecting proper sampling
techniques ensure that the sample is a representative sample of the population (Yan et el.,2022).
Researchers divide the population into smaller group known as samples. And using accurate
sampling techniques they draw conclusions on the population. To ensure that the sample is
representative of the whole population, researchers invent some sampling techniques:

1) Random sampling:

When selecting a sample from a population, the most effective and efficient method is using
random sampling. The random sampling technique ensures that each individual in the population
has an equal opportunity of being selected for inclusion in the sample (Hu and Su, 2023). Its

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purpose is to reduce any bias, whether conscious or unconscious, that may have been introduced
into the sample selection process by the researchers.

2) Stratified sampling:

Researchers use stratified sampling when there is an imbalance in the population. The population
are divided into small strata and then select the sample randomly from each stratum ((Song and
Kawai, 2023). Each stratum is representative of the population.

3) Cluster sampling:

Cluster sampling is generally used for large size of populations. For conducting cluster sampling,
researchers divide the large population into small clusters and the select sample randomly
( Rahman et al .,2022). It is quite useful in saving time and cost.

4) Snowball sampling:

In snowball sampling, the researchers request the participants to notify others who are willing to
participate as a sample in the research. The participants then inform others who are willing to
participate. In this way, researchers collect necessary data. Snowball sampling comes from the
analogy that involves a snowball that grows in size as it travels downhill (LeBlanc et al.,2022 ).

5) Convenience sampling:

In convenience sampling, researchers choose those participants as samples who are available and
ready to participate. Researchers select the sample conveniently. There are no prescribed rules to
select the participants. This sampling technique may be biased (Song and Kawai, 2023).

The researcher is able to reduce the possibility of bias and raise the possibility of obtaining a
sample that is representative of the population as a whole if they use the appropriate sampling
strategies (Sharma., 2017). This makes it possible to draw generalizations and conclusions about
the full population that are based on the responses gathered from the sample that are more
accurate. Each sampling technique has its own benefits and advantages. If not chosen carefully,
the research outcomes may be misleading.

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To conduct the survey, first of all, we need to collect data from colleagues relating to the
extension of working hours and working days. In this case, interviewing the participants will be
the perfect survey technique for collecting data. After collecting data, we need to analyze the
data. Using a regression model, we can measure the response level of the participants. In the first
group, there are N 1 people, N 2 people in the second group and N 3 people in the third group. We
can arrange the participants in the first group as 1,2,3,4….n1 , for the second group 1,2,3,4…n2 ,
and for the third group 1,2,3,4…n3 . In this case, using a random sampling technique is the best
technique. We can select n1 participants from group one with corresponding random numbers.
Same way n2 and n3 participants from the second and third groups.

Let us define the model,

Y= a+ b 1 X 1+b 2 X 2 +b 3 X 3 +e

In this model, b 1, b 2 and b 3 are some parameters which are unknown and unidentified related to
the independent variables X 1 , X 2 and X 3 which will be studied. Here, “a” is the general effect
which will remain constant throughout the survey. “e” is the error in the model. All these
variables will help us to understand the response level (Y) of the colleagues.

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Question 2
Data
Data refers to any unorganized form of information collected from several sources. When data is
analyzed and interpreted, then data becomes meaningful information. For research purposes,
researchers collect data from the participants through interviews, questionnaires, observation or
any other ways. After collecting data, they use the appropriate method to analyze the data and
generate meaningful information (Little and Rubin, 2019). Data can be mainly divided into two
categories: primary data and secondary data.

Figure: Types of data.

Primary data
Primary data is first-hand data that is only collected by the researchers. To collect primary data,
researchers use some data collection tools like questionnaires, interviews, observation etc. The
use of primary data is essential to the conduct of empirical research because it gives researchers
access to material that was gathered in the first person and is directly related to the topic under
investigation (Cerar et al.,2021). It is impossible to acquire the same level of uniqueness and
specificity from secondary sources. When researchers collect primary data, they get authority
over the process of data collection, which grants them the ability to develop research tools,
choose relevant samples, and guarantee that the data quality is maintained. To collect primary
data, researchers directly go to the field and collect data directly from the participants. The
process of collecting primary data is time-consuming and can be costly. The main benefit of
primary data is that it can provide the most recent information about the research topic
(Richardson et al 2023). Primary data ensures in-depth analysis is carried out. The data that has

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been collected can be investigated by the researchers, who can then look for patterns or trends by
examining the relationships between the different variables. Researchers are given the ability to
undertake sophisticated statistical analysis, qualitative coding, or thematic investigation as a
result of the richness of primary data, which ultimately leads to a comprehensive understanding
and reliable findings. Researchers can benefit in a variety of ways from utilizing primary data. Its
uniqueness, accuracy, and adaptability make it possible to conduct targeted research, and the
controls and quality checks that are in place ensure that the data is accurate (LeBlanc et al.,2022 ).
Having access to primary data makes it easier for researchers to conduct in-depth analyses,
which in turn helps them discover insightful new findings. Primary data serves as the basis for
reliable empirical research since it provides both the existing conditions and comprehensive
knowledge of the subject matter being investigated.

Secondary data
Secondary data refers to the data that has already been collected and analyzed by other
researchers. These data can still be useful for further research on a topic. To conduct research on
a topic that has already been studied, researchers depend on secondary data which allows them to
study a larger population (Pritchard, 2023). Common sources of secondary data may include
organizational records, published works, newspapers, official reports, websites etc. Collecting
secondary data is quite easy and less costly than collecting primary data. Secondary data does not
provide in-depth analysis but it provides views of the past. Secondary data helps researchers to
compare the data throughout different time periods. Secondary data can be useful in drawing
comments on the primary data. Secondary data helps researchers to understand the past context
and based on the past context researchers can understand the change throughout the time.
Secondary data can strengthen the findings of the research by providing support to the topic of
the research (Mazhar et al.,2021). For researchers, secondary data is a very useful resource. It is
a valuable instrument in the research process due to its accessibility, affordability, continuous
nature, and possibility for comparative evaluation. Researchers can obtain knowledge, minimize
resources, and improve the depth and scope of their research outcomes by utilizing existing data.
However, in order to ensure that secondary data sources are appropriate for the particular study
aims, it is crucial to properly examine and validate them.

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The main differences between primary and secondary data

Figure: Primary VS secondary data.

Primary data Secondary data


1) The data that are collected for the first time 1) The data that are already collected by
from the field are primary data. someone for prior research are secondary.
2) Tools like questionnaires, interviews, 2) Official records, newspapers, journals,
observation etc. are used for collecting websites etc. are used for collecting secondary
primary data. data.
3) Primary data is original in nature. 3) Secondary data are not original in nature.
4) Primary data provides information about 4) Secondary data may not provide
current trends and practices. information about current situations but can
provide the basis for evaluating current
situations based on previous data (HR and
Aithal, 2022).
5) Researchers have authority over primary 5) Researchers have limited authority over
data. secondary data.
6) Primary data collection process can be 6) Secondary data collection process can be
time-consuming and costly. less time-consuming and less costly.
7) The sample size for primary data is small. 7) The sample size for secondary data is large.
8) Researchers can be biased while collecting 8) Researchers cannot be biased while
primary data. collecting secondary data.
9) Primary data cannot be compared with 9) Secondary data can be compared with other
other data. data.
10) Primary data can be used to identify and 10) Secondary data can be useful in
solve current research problems. identifying and solving current and future

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research problems.

The advantages and disadvantages of primary data


Advantages Disadvantages
1) Primary data is more valid and reliable. 1) Data collection process requires a lot of
time and is costly.
2) Researchers can conveniently collect data 2) Researchers may become biased while
using any suitable data collection tool. collecting data.
3) As the researchers have control over the 3) Participants may show less interest in
data collection process, they can exactly participating in the research and may provide
collect the information they need. false information.
4) Primary data is the fresh data collected 4) Finding the exact sources for collecting
from the field. So, these data are free from primary data may be difficult that exactly
copyright. match the present situation.
5) Primary data provides a detailed analysis of 5) Ethical side may be disturbed.
the situation and interpretation becomes
better.

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The advantages and disadvantages of secondary data
Advantages Disadvantages
1) Finding secondary data is quite easy and 1) Researchers do not have proper authority
less costly. over secondary data.
2) The sample size is large which ensures the 2) Secondary data may be of poor quality.
accuracy of the outcomes.
3) Secondary data provides the basis for 3) Secondary data may become invalid for
current and future research problems. current research.
4) Secondary data provide a strong 4) There is a high chance that data may
comparison between the data. provide error information.
5) Secondary data provide a strong backup for 5) Secondary data are already used data. So,
research outcomes. they are not original in nature.

Question 3
For quantitative measure, the turnover and profit data from Marks & Spencer company are
chosen. For proper quantitative measure, 5 years of turnover and profit data are analyzed.

Turnover ($ in Profit ($ in Squared deviations Squared deviations


Year millions) millions) (Turnover) (Profit)

2023 1780 110950 61504 366914025


2022 1320 80360 44944 130759225
2021 1740 85000 43264 46172025
2020 1500 95830 1024 16281225
2019 1320 86835 44944 24601600
Total 7660 458975 195680 584728100
Mean 1532 91795
Mode 1320 #N/A
Standard
deviation 197.8282083 10814.13982

Manual calculations:

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Mean is the average value of the given numbers and is calculated by dividing the sum of the
numbers by the total number of terms. The mean is used to determine a data set's central
tendency in statistical analysis. The mean simply represents an average over the data points. It
indicates that the values of a set are spread out uniformly.

So here, mean = total sum/ number of terms.

For turnover = 7660/5= 1532.

For profit= 458975/5= 91795

Mode is the value that seems to appear the most or more than once in the data set. When
analyzing data, the mode indicates the most common statistic. The mode is a useful alternative to
the mean and median for determining the most frequent value when working with data that is
categorical ( Khorana et al.,2023). The mode helps us figure out where the "center" of data
collection is.

For turnover, the mode is 1320 which appears twice in the data set.

For-profit, there is no modal value in the data set.

The standard deviation is an indicator of statistics that may be used to quantify the degree of
dispersion or volatility that exists within a dataset. It gives information about how far apart the
data points are from the mean (average) of the dataset ( Khorana et al.,2023). A low standard
deviation suggests that the data points can be found clustered closely around the mean, whereas a
large standard deviation indicates that the data points can be found more widely dispersed from
the mean

The standard deviation= √ ∑ of the squared deviations/total numberv of terms

The standard deviation for turnover = √ 195680/5 =197.83

The Standard deviation for profit = √ 584728100/5 =10814.14

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Question 4
An effective management information system plays an important role in the decision-making
process by the top management. I completely agree with the statement that management
information systems play a crucial role in the decisions making process. In this era of big data,
business organizations are generating huge amounts of data every day. And to analyze and
interpret these data an effective management information system is crucial to take effective
business decisions. To operate the business strategically management needs accurate information
which will enhance the quality of the decisions.

A management information system primarily gives decision-makers the ability to access current
and accurate data. It gathers, manipulates, and displays data from many organizational sources,
including operational databases, financial systems, and other sources (Merhi., 2021 ). An MIS
builds a holistic picture of the functioning of the business by combining data from several
sources, giving decision-makers access to up-to-the-minute information on important metrics,
patterns, and issues. Managers can make well-informed decisions based on correct facts if they
have access to current information, rather than depending on speculation or obsolete information.
To receive accurate and reliable information, deep thinking and proper planning helps the
management to identify the data and the techniques to analyze those data. When decision-makers
have a complete picture of the company's activities and materials, they can make better choices.
It streamlines the collection and presentation of data into digestible charts, graphs, and
visualization for management. An MIS facilitates decision-making by providing data in an
accessible manner that aids in the identification of trends, linkages, and potential issues.
Executives are in a better position to make decisions that advance the organization's strategic
goals when they have a thorough grasp of the context in which those goals must be achieved
(Pritchard, 2023). A successful decision-making process is supported by an efficient MIS
through the utilization of sophisticated analytics and prediction tools. These capabilities are in
addition to the MIS's analysis and visualization of data capabilities. These technologies give
those responsible for making decisions the ability to carry out in-depth analyses, model many
possible outcomes, and forecast what will happen in the future. For instance, a management
information system (MIS) might have algorithms for statistical analysis, which can estimate the
amount of demand from customers, recognize possible shifts in the market, or assess the effects

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of various pricing schemes. By taking advantage of these analytical skills, decision-makers are
able to make data-driven decisions that are supported by strong analysis and forecasts

An efficient MIS is the execution of strategy. It gives those responsible for making decisions
access to the information and evaluation they need to formulate and assess plans. When doing a
SWOT analysis, which stands for "Strengths, Weaknesses, Opportunities, and Threats," a
management information system (MIS) is helpful since it gathers data on an organization's
internal strengths and weaknesses and also external market opportunities and threats. This study
provides the decision-makers with assistance in analyzing the competitive advantage of the
organization, finding areas in which the organization could improve, and devising plans to
capitalize on possibilities in the market (Mazhar et al.,2021). In addition, an MIS helps with the
monitoring and evaluation of strategic goals. This gives managers the ability to monitor growth,
recognize deviations, and make the required modifications to guarantee that strategic goals are
reached. An efficient MIS should also improve internal communication and teamwork. It collects
data from multiple sources and makes it easily accessible to everyone in the company. As a
result, there is more of an emphasis on exchanging information and ideas in order to make
decisions as a group. Better cohesion and alignment of decisions are the results of decision-
makers having access to the same information and being able to debate and assess possibilities
together (Yan et el.,2022). Decision-makers will be well-informed and can work together
effectively.

It is crucial to realize the limitations of an MIS as well as the potential issues it may provide
before making decisions, despite the fact that such systems offer a multitude of benefits.
Significant investments in technical facilities, combining data, and personnel training are
required for the implementation and ongoing operation of a management information system
(MIS). The implementation of data quality controls and sticking to data governance principles
are two of the most important things that organizations can do to guarantee that their data is
accurate and reliable ( Han et al.,2021). In addition, the data that an MIS gets determines how
effective it is, which is why the techniques of data collecting, the sources of data, and the
veracity of data all need to be addressed carefully. A well-functioning management information
system is crucial to the success of any business. Decision-makers are given the ability to weigh
their alternatives, analyze risks, and ensure that their choices are in line with strategic goals

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thanks to the data provided by a management information system (MIS) that is both timely and
accurate. Better decision-making and strategic thinking are two outcomes of using a management
information system (MIS) for your business. Also, a unified culture of sound decision-making
may be fostered through the use of an MIS because of its emphasis on open lines of
communication, teamwork, and the free exchange of information. Although there are obstacles, a
strong MIS provides a much greater return on investment than it requires, making it an essential
resource for making informed decisions in today's fast-paced corporate environment. The ability
to make decisions that are effective requires information that is reliable, up-to-date, and relevant.
Management information systems (MIS) give all three types of information, which helps to
facilitate the decision-making process and enables the planning, control, and administrative
activities of an organization to be effective (Han et al.,2021). However, due to the fact that
decision aids are primarily meant to concentrate on decision-making, they can create problems
with the use of management information systems (MIS), that are not suitable for decision-
making purposes due to the fact that MIS focuses solely on information and does not support the
decision-making process. However, because MIS is a trusted source of information, it continues
to have significance, and the information it provides will be enough to make decisions regarding
structured tasks, but not regarding unstructured tasks. The Management Information System
generates already packaged reports containing limited production and operational data, which
can enable organized decisions at the operational level.

The importance of MIS in informing business decisions has been emphasized above. Although
the fact that MIS is only useful at the operational level could be seen as a drawback, the system
is nonetheless useful because of the data it provides. The role of MIS cannot be overlooked
because of the enormous pressure of globalization and to acquire competitive advantage, since
businesses require precise and real-time information for operational efficiency and swift
decision-making (Hu and Su, 2023). One could say that information is the lifeblood of a
company. It's true that it takes a lot of money to create a solid MIS, but nowadays, businesses
just can't do without one.

Conclusion
Every day in the business world, tons of data are generated. Some data are very critical in nature
and some are simple. A proper analysis of data helps meaningful information which helps the

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decision-makers to take accurate decisions. To be successful in this competitive business world,
identifying the exact data and collecting data from appropriate sources and analyzing the data in
a accurate way and then creating an appropriate MIS is a must.

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