Integrated Business Analysis Assignment

This academic document, written by Newassignmenthelp.com begins by defining the target population for a flexible-hours survey at Tesco and compares probability and non-probability sampling techniques to ensure representativeness and practicality.

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Q1. Research Design & Sampling

a. Population

The term population is defined as total set of items, peoples or events that interviewer desire to study. In other words, population is whole group that the researcher wants to draw conclusion on the basis of survey regarding responses to the probability of flexible working hours introduced at the workplace. For instance, if researchers are conducting the survey related to extending the working day and hours at Tesco, the population of Tesco will be all workforces working at Tesco. Earlier to taking sample, the research need at first describe the population to which they simplifying the outcomes of the study. In the context of research design and statistical analysis, a population is defined whole set of individuals or organizations that researcher purpose to understand or more formal from which they easily draw inference and conclusion (Mishra and Alok, 2022).  All individuals or objects in a provided population usually have binding traits, shared or characteristics.

b. Sampling technique

It is impossible to survey the entire population without the sampling techniques. Sampling technique plays crucial role in conducting the survey in effective manner. Sampling is one of the important processes of choosing a subset of peoples from the population and reviewing that subset to gain the understanding of entire population. Implementations of sampling techniques are beneficial for the researcher because it cost is quite less.  A sample is the smaller part of the population so the cost is lower, if the data are gathered for sample of population (Baltes and Ralph, 2022). Conduct the survey of population through sample techniques because it consume less time in comparison to other techniques. Analysis or tabulation takes less time in case of samples in contrast to whole population. The researcher is worried with the generalization of data. To study the entire population to reach at simplification of data will be impossible. In addition, some population are large so it is impossible to the researcher to gauge their characteristics. The sampling process makes it practical to arrive at simplification of data by scrutinizing the variables within a small part of population.

In case of sample, observations and measurements are made up of limited number so exhaustive and intensive data are gathered.  The sample of population also facilitates better rapport. An efficient research study needs a good rapport between the respondent and researcher. If the population of research is large then it increases the probability of arise the rapport. The manageable samples allow the researcher to develop sufficient rapport with the respondents.  Apart from this, the researcher can use the several sampling techniques in order to conduct the survey of populations. The probability and non-probability are the significant methods of sampling (Nayak and Singh, 2021). In the probability method, all the qualified peoples have a probability of choosing the sample from the entire population. Probability sampling technique is expensive and time-consuming process than the non-probability sampling method.  The probability sampling technique includes random sampling, systematic sampling, clustered sampling and stratified sampling. 

            Furthermore, in random sampling technique all the populations have equal opportunity to being selected. This method is also called as method of chance selection. Adaption of random sampling technique is useful for the organization to conduct the survey because in this researcher needs less knowledge to complete the research. It offers the chances to perform the data analysis with the less risks of error. On the other hand, in systematic sampling technique, the events are chosen from the target population by choosing the random selection point. Implementation of this sampling technique is useful for the researcher to conduct the survey because it is easy to adapt and understand, has control and sense of process, eliminate the selection of cluster and low risk factor. Another significant sampling technique is stratified; in this the whole population is divided into smaller groups in order to complete the process of sampling (Casteel and Bridier, 2021). While, in the cluster sampling technique the population are categorized into the groups or clusters and few groups are chosen at the random for the research. Conducting the survey through this sampling technique is less-time consuming but increase the chances of introduce bias if the cluster are not demonstrative of population.  On the other hand, in non-probability sampling the researcher choses the sample based on the subjective findings instead of random selection. One of the biggest advantage of this sampling technique is all the individuals of the population can take participate in the research.

            Non probability sampling technique includes convenience sampling, consecutive sampling, purposive sampling, quota sampling and snowball sampling. In convenience sampling technique, the samples are chosen from the population directly because they are conveniently accessible for the researcher.In this sampling technique, the researchers are easy to select the samples and it is not need to select those samples that summaries the whole population. Another important sampling technique is consecutive and this is same to the convenience sampling. In this sampling technique the researcher choose a particular individual or group of persons for sampling. After picking the researcher select the sample subsets that bring the valuable collection of data that simplify the whole population (Thompson Burdine, Thorne and Sandhu, 2021). This sampling technique is useful for the researchers in order to collect the sample of whole population because it helps in collect the data quickly and easily. Convenience sampling technique is an inexpensive methodology, fewer rules to follow, easy to do research, low cost and readily available sample.

Apart from this, purposive or judgemental is another sampling technique that can be used by most of organization in order to conduct to survey of their employees. In this sampling technique, the samples are chosen on the basis of researcher’s knowledge.  Adaption of purposive sampling is beneficial for the researchers because it is cost effective method. It also assists in save time because the researchers are relied on their knowledge to select the best fit participant for the systematic securitization (Pandey and Pandey, 2021).  Purposive sampling technique permits the researcher to collect qualitative reactions which lead to precise research outcomes and gain better insights. Judgemental sampling technique allows the researcher to make the sample from small population of interest and reach at the beneficial research results. Additionally, this sampling technique is permits the researcher to target the niche demographics to obtain a particular data for the research.

Another sampling technique is snowball and it is also called as chain-referral. In this sampling technique the samples have traits which are challenging for the researcher to determine. So each determined member of population is asked to identify the sampling units which are belonging to similar targeted population. Adaption of this sampling technique is useful for researcher because it is a cost-effective. In this sampling technique the researcher is obtaining the referrals from the primary data (Walliman, 2021). In this technique, the referrals make simple and quick to determine subjects as they come from the reliable source.  Apart from this, to collect the sample from the entire population in order to conduct the survey researcher can focus on Law of statistical regularity theory of sampling. According to this theory, if the samples are taken randomly from the population then it is probable to retain almost similar features of that population.

Q2. Data Types & Sources

1. Assessing the main differences between primary and secondary data

The term primary data is defined as type of data that is gathered by researchers directly from the key sources with the help of surveys, interviews, experiments etc.  The sources of primary data are generally select and tailor particularly to meet the needs and demands of the particular research. The researchers are collect the data from wide range of sources such as interviews, surveys and questionnaire, observations, focus groups and experiments (Mishra and Alok, 2022). An interview is one of the significant methods of data collection that includes two groups of individuals where interviewer is asking the questions about its research to the interviewee.  Collecting the data from this method is beneficial for the researchers because it helps in providing in-depth information, samples are control and response and non-response bias are easily detected.  Surveys and questionnaire are also considered as significant method of collecting the primary data because it is cheaper than interviews and respondent have sufficient time to give responses.

On the other hand, secondary data is data that has been already gathered with the help of primary sources and made voluntarily accessible for the researchers for their own research.  The researchers are easily collecting the secondary data with the help of books, journals, personal sources, government records, websites etc (Mishra and Alok, 2022). Along with this, the primary data is totally different from the secondary data. The differences are as follows:

The collection of primary data is time-consuming process and labour-intensive features of the research while secondary data are collected readily and speedily.  The researchers are not spending majority of their time on collecting the data because they are also require to evaluate and write it. In addition, the primary data are acquired by the researchers at the source or place of its origin. These data are unique and original while, in secondary data the researchers are collect the data from accessible work of others and these information are not unique or original.  Generally the primary data are qualitative because it provides the information on subjective quality related characteristics such as taste, heaviness etc. In contrast, secondary data is qualitative because it provides information regarding event or object in a statistical, numerical and tabulated form like tables, percentage etc (Thompson et al, 2021). On the basis of reliability, the primary data are more reliable in comparison to secondary data. It is because the primary data are gathering by doing unique or original research and not through secondary sources. On the other hand, the secondary data are less reliable as compare to primary data because it is relied on research done by others.

 Collecting the primary data is time-consuming process as compare to secondary data because the researchers have to follow various steps. For collecting the data, the researchers have to make a sample, preparing questionnaire and appoints a trainee. Collection of the primary data is costly process as compare to secondary data because it requires the appointment of team that includes field interviewers, researchers, data analysts etc. Appointing these experts includes further costs in order to complete the work within the time frame.

2) The advantages and disadvantages of primary and secondary data

Apart from this, collecting the primary data is advantageous for the researchers because it helps in redressing the issues of research. The independent research is needed to determine answers to the problems that are irregular to the situations of particular organization.  The primary data is acquired by personally questioning members of a specific demographic so it is acknowledged for its high degree of accuracy. On the other hand, it is time consuming process because it takes huge amount of time in gathering the data because it requires conducting from scratch (Pandey and Pandey, 2021).  The collection of primary data has different limits because it is limited to specific group of place, time and peoples. Additionally, collection of primary data is beneficial for the researchers because it provide most recent and accurate information that is directly connected from the research filed itself. With the help of these information’s the businesses can make strategic decisions.

In the primary data, only researcher is admittance to the data they assisted gather and rarely provides it out to anyone else. Conversely, the primary data is costly process because for the collection of the data accurately it is crucial to appoint various experts.  Primary data collection permits researchers to better understanding the situations and context under which data is collected (Walliman, 2021). This helps the researchers in interpreting the outcomes accurately.  With the help of primary data, the researchers are gaining the deeper insights into the attitudes, behaviours and needs of desired audience which helps them to make informed decisions.

 Collection of secondary data is also advantageous for the researchers because it is easily available. It is so simple and easy for the researchers to get the secondary data sources. At the present time due to advanced technologies the researchers are easily acquired the data from Internet. The researchers can collect the secondary data with free or very low costs. The secondary data are cut down the time and efforts which are require collecting the data.  The secondary data collection helps the researchers in saving the time in comparison to primary data (Clark et al, 2021). It consume less time because a researcher severely depends on ready-made, evaluated and summarized data. For the collecting of secondary data, the researcher is not wasting time in hiring the filed interviewers.  On the other hand, secondary data have propensity to favour the collector as an outcomes of the integral bias that are exist.

            Moreover, the secondary data are not update according to the time. These data are frequently collected using data from past. This is considered as biggest challenge in many situations. The secondary data permits researchers to perform a longitudinal analysis. It means the researcher can perform the study by spanning long period of time (Gupta and Gupta, 2022).  The secondary data research can be performed by the individuals that are not familiar with the diverse types of qualitative and quantitative research methods. On the other hand, in the secondary data the lack of control over the quality is less because it is already surveyed by the researchers according to their related basis. In the secondary data, modification in the surroundings and other elements is leaded to change in the data offered in which the quality of data cannot be control (Bell, Bryman and Harley, 2022). Additionally, another big advantage of secondary data is it is not collecting particular for the business. In the secondary data, there is no privatization by its owner and it can be admittance by any person.

Q3. Descriptive Statistics

Tesco profits

(Source: Financial statements of Tesco. 2023)

Mean

            Mean is defined as the average of the provided list of numbers. This is calculated by adding all the numbers dividing by the total number of items present. In order to evaluate the data and its skewness mean is the best method to evaluate the effectiveness of the data.

Mean= sum of terms / number of terms

= 10429/ 5

= 2085.8

Median

            Median is defined as the middle value which is present within the data set. The median is calculated by arranging the data from smallest to the largest and then finding the mid value. In order to calculate the median in case of odd numbers the data is arranged in ascending order and then by adding 1 to the total number of outcomes it is divided by 2. Thus, the value present on that number is the median of the data. In the present case the n is 5 and by adding 1 to it, are 3 which is the median. Hence, at the third value, 1270 is present and it is the median of the data.

Arranging the data in ascending order

Median= (n 1) / 2

= (5 1) / 2

= 6/ 2

= 3^rd value that is 1270 is the median

Mode

            Mode is defined as the most common number which appears within the data set presented. It is the repeated number which is actually repeating within the list again and again. In the present case there is no mode because there is not any specific same amount of profit which has occurred in similar years.

Standard deviation

The standard deviation is referred to as the measure which assists in evaluating the deviation of the data from the main value of. The standard deviation is calculated by doing square root of the variance that is the difference between the mean and the numbers. The standard deviation is used in order to evaluate the data and trying to understand the variability which is present within the date of. This standard deviation is assistive in analysing the Trends and reliability of the data and to detect any outlier in case it is present.

σ = ∑ ( X − μ ) 2 n

SD= √(X-mean)² / (N – 1)

= √19060377/ 4

= √4765094.2

= 2182.90

Hence, with the evaluation of the data calculated manually and as compared to the Excel sheet it is evident that each and every variable is correctly calculated and there is not any different present in the calculation.

 Q4. Assessing the extent to which effective management information system acts as an important part of the process

            Effective management information system (MIS) is one of the significant part of the decision making process within the business.  According to my opinion, I agree with this perspective that MIS plays a vital role in making the sound business decisions. MIS is a system that offers leaders or managers with the significant information in order to make strategic decisions about the operation of the business. MIS is useful system for the business at the time of making the effective decisions because it helps them to integrate the data from several functions and departments (Mahmood et al, 2023). It also assists the decision-makers in providing the complete view of company’s data.  Implementation of this system is beneficial for the organization in order to make the effective decisions because it stores huge data in databases that making retrieval and accessible for the decision-makers when required. In addition, data processing is another feature of MIS and it helps in generating the meaningful information from which decision-makers are easily making the effective or smart decisions.

MIS also helps the organizations in comparison, calculations and conversion of other data to produce insights and reports. Generally, MIS systems have user-friendly interfaces that help the non-technical users to admittance and interact with the data easily.  Another feature of MIS is customization and it can be customized in order to meet the needs and requirements of the company. With the help of this information users can define the kind of information they desire to admittance and the way it is demonstrated (Hussein, Nassreddine and Younis, 2023). MIS helps the decision-makers to make the sound decisions because it helps in offering the updates of real-time or near-real time data and also ensures the decision-makers can easily admittance the most current and updated information in order to make the strategic decisions. MIS also helps in generating several reports which involves ad-hoc reports, standard reports and exception reports from which mangers make the potential decisions and monitor the performance effectively.  In the context of security, in MIS admittance to sensitive information is restricted and measures are taken place for safeguard the data from breaches and unauthorized admittance (Prasadana, 2023). This is considered as one of the most useful systems for the business to make the sound decisions because it can be retrieved remotely also permits the decisions-makers to access the information from numerous locations.

 Apart from this, MIS system can be easily integrated with other systems and software’s of the business such as customer relationship management (CRM), enterprise resource planning (ERP) and human capital management (HCM) etc. The preliminary function of MIS is to report to organization’s operation in order to support the decision-making and ensuring their management efficiently. This helps the organization in gaining its competitive advantage and reach to the desired goals and objectives.  Provide easy access to the information is one of the significant functions of MIS (Al-kaseasbeh et al, 2023). It allows team members to conveniently admittance to financial, marketing or operational information. The reports of MIS tactically storing large amount of information regarding the business in a crucial location from which manager can easily admit over a network.  Data collection is another function of MIS within the business. It helps the business in collecting and combining the day-to-day operations data from the outside sources. MIS also helps the business in building the functional and healthy relationships between distributors and suppliers.

 MIS also plays an immersive role in keeping the track record of workforce’s performance. This information helps the business in detecting the challenges and makes the strategic decisions by using the current and updated information. Faster collaboration in the workplace is another function of MIS and in the large organizations; many circumstances need the involvement of various individuals or departments in the decision-making. MIS is regard as one of the effective communication tool for the employees to collaborate and also ensure that the group of decisions making can easily admittance all the data needed for strategic decision-making even if they are working from diverse locations. MIS also helps in improving the reporting of the organization by making the timely decisions (El-Ebiary et al, 2020). MIS is responsible for gathering, processing and storing the data from all the functional areas of a company. This data is then evaluated and transformed into useful information that helps in making the effective decisions. On the other hand, without effective MIS it will be impossible for the business to collect and evaluate large amount of data.

MIS also helps the organization in providing in real-time information which is significant for making the timely decisions. In today’s competitive environment, have admittance to real-time information that can give the business to competitive advantage. MIS also assist the organization in strategic planning by offering the historical data, projected data and current data. This information is significant for setting goals, describing strategies and making decisions that align with the company’s objectives.  Adaption of this system is beneficial for the organizations in determining and mitigating the risks (Nwankwo, Ugwude and Ugwude, 2020). By offering the information about the potential risks and their impact, MIS helps in making the effective decisions that reduces the risks. For example, Tesco is also using MIS which helps the managers in planning, emerging and use of information technology to perform all the tasks that relevant to the management and information processing (Ivory Research, 2023). Apart from this, decisions support system (DSS) and business intelligence (BI) are the major theoretical perspectives of MIS. DSS is a computer-based information system that supports activities related to decision-making of company. DSS serves the management level of firm, enhancing the decision’s quality by offering relevant, correct and timely data. On the other hand, BI incorporates technologies and strategies that are used by the organization for data analysis of information. This system offers current, historical and predictive perspectives of business operation which helps in decision-making.

Information quality is one of the key concepts of MIS. High quality information is complete, correct, timely, relevant and understandable. MIS make sure the quality of information that is used in making the strategic and effective decisions. Apart from this, Simon’s decision making is one of the important models that are used by wide range of companies in order to make the effective decisions. According to this model, the process of decision-making process is divided into three phases such as design, intelligence and choice. In the intelligence activity stage, the individuals can determine the challenges in the business and the upper management evaluates the organizational environment to work towards the solution (Mashayekhi and Heravi, 2020). In the design activity stage, to determine the possible solutions to the issues the upper management looks for suitable strategies. They additional evaluate the advantages and disadvantages to select a specific course of action.

 In choice activity stage, after making the options, the phase of choice activity instigates. It critically scrutinizes and analyse the several situations of all options and select most suitable course of actions. The data-information-knowledge-wisdom (DIKW) is another model that is use by the business in order to make the sound decisions of the business. This model demonstrates the hierarchy of information, data, wisdom and knowledge (Hussein, Nassreddine and Younis, 2023). MIS plays a vital role in converting the data into knowledge and information that can be used to gain wisdom.