Unit 6 Business Decision Making Essay - 4217 Words

4 OUTLINE CONTENT 1 Be able to use a variety of sources for the collection of data, both primary and secondary Primary sources: survey methodology; questionnaire design; sample frame; sampling methods; sample error Secondary sources: internet research; government and other published data; by-product data Storage: security of information; data protection issues; ethical issues 2 Understand a range of techniques to analyse data effectively for business purposes Representative values: mean, median, mode; calculation from raw data and frequency distributions using appropriate software; using the results to draw valid conclusions Measures of dispersion: standard deviation for small and large samples; typical uses†¦show more content†¦Mention different sources of data which you will use in the research. †¢ Your research plan should include the methodology for collecting primary data by using different survey techniques. Describe the methodology in sufficient detail; highlighting the types of research to be used, the sample frame, the method of analysis and any limitations of the proposed approach. Give valid justifications and reasons for the methodology suggested along with the frame to be used for the survey. †¢ Develop a questionnaire to collect primary data (no more than 15 questions). The design and contents of the questionnaire should be well justified by providing valid reasons. †¢ The plan should meet the following criteria: a. Examine the need of that product/ service. b. Performance of current products/services of your selected client. What is the attitude of customers towards the client’s product/service? c. Identify the competitors and compare the perceptions of your client’s product/ service relative to its competitors. d. Identify the potential for enhanced features on the client’s product/ service. Guidance Notes for Task 1: †¢ Select that organisation as your client, which you can easily access for collecting different types of data related to your work. †¢ The data collection/ research plan must also include: a. 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