Report on Decision Making

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Presentation Description

Decision making is the backbone of any business, Without a decision, there is no business, In this presentation, we will discuss decision-making process and it benefits.

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Presentation Transcript

Table of content :

Table of content Introduction Data collection and its various sources Qualitative and Quantitative Data Advantages and disadvantages of data Graph represents Respondent of the company Critical path Financial information use Analysis of data collection process Conclusion References

Introduction:

Introduction Business decision making is very critical task. Various graph and pie charts has been taken into consideration to portray the information in right manner. Quartile, percentile and coefficient of correlation are the main tool which are used to evaluate the project vulnerability

Data collection and its various sources :

Data collection and its various sources Primary data collection process includes interview, observation, meetings, seminars. Secondary data sources are official gazette, magazines, newspaper and other details. With the completion of gathering process Marks and Spencer Limited will be able to understand internal and external factors of the organization .

Qualitative and Quantitative Data:

Qualitative and Quantitative Data Basis Qualitative data Quantitative data Objective of collection Clear and provide specific points Flooded with the high amount of information Time required More time required to collect the data Less time required Cost involved High amount of cost Less cost

Advantages and disadvantages of data collection process :

Advantages and disadvantages of data collection process Basis Advantages Disadvantages Clarity Provides a clear idea about the clients choice of action. Creates confusion in generating effective decision on the collection of data. Cost effective Collection of Quantitative data is cheaper than collection of quantitative data. Some time it becomes very costly to collect the data with the subjective matter.

Graph represents three required respondent :

Graph represents three required respondent

Trend line to forecast data :

Trend line to forecast data

This data shows the actual respondent of the company which is collected with the help of data collection process:

This data shows the actual respondent of the company which is collected with the help of data collection process

Critical path- This is the path which shows the least time that is required to perform certain activities and project:

Critical path- This is the path which shows the least time that is required to perform certain activities and project

Financial information:

Financial information This is the information which is used by all the employees, staff members and board of directors to come up with an effective plans Helps in forecasting of trends of the company Depicts the company’s growth and efficiency Provides clear idea about the financial needs in the different process system.

Analysis of data collection process :

Analysis of data collection process In this data collection process we have come to known clients' choice of action and their reciprocities behavior with the offered product. Qualitative data provides how our company makes our product as per the clients needs Quantitative data provides how company can manage its external threats in orderly manner.

Conclusion :

Conclusion In this report I have found that new rivals who are ready to tap the market with their new technique has made their plan constructively. Now at the end I would say in order to make effective business decision making company needs to collect right amount of data in orderly manner .

References:

References Roepstorff, C., Petersen, H. & Berthelsen, A. 2015, "Optimizing Data Collection",  Biology of Blood and Marrow Transplantation,  vol. 21, no. 2, pp. S265. C., Petersen, H. & Berthelsen, A. 2015, "Optimizing Data Collection",  Biology of Blood and Marrow Transplantation,  vol. 21, no. 2, pp. S265. Hattne, J., Reyes, F.E., Nannenga, B.L., Shi, D., de la Cruz, M. Jason, Leslie, A.G.W. & Gonen, T. 2015, "MicroED data collection and processing",  Acta Crystallographica Section A,  vol. 71, no. 4, pp. 353-360. Hilton, A.J.W. 2010, "graphs",  Discrete Mathematics,  vol. 308, no. 5-6, pp. 645. Gawaz, M., Dickfeld, T., Bogner, C., Fateh-Moghadam, S. & Neumann, F.J. 1997, "Platelet function in septic multiple organ dysfunction syndrome",  Intensive Care Medicine,  vol. 23, no. 4, pp. 379-385.

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