1.1 what primary and secondary data can be obtained by the business to obtain information on its customers awareness, perception and opinions on company products

UNIT SIX Business Decision Making (15)

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Learning outcomes

On successful completion of

this unit you will:

Assessment Criteria:

 

 

1.1 what primary and secondary data can be obtained by the business to obtain information on its customers awareness, perception and opinions on company products

1.2 Describe and justify the survey methodology and frame used

1.3 Develop and use a questionnaire and justify its design for a particular purpose

LO2 Understand a range of

techniques to analyse data

effectively for business

purposes

2.1 create information for decision making by summarising the data using representative values

2.2 analyse the results to draw valid conclusions

2.3 analyse the customer data using measures of dispersion

2.4 Calculate quartiles, percentiles, correlation coefficient, and use to draw useful conclusions from the customer data collected

LO3 Be able to produce

information in appropriate

formats for decision making in an organisational context

3.1 prepare a range of graphs using spreadsheets — line, pie, bar charts and histograms, and draw valid conclusions based on the information derived

3.2 create trend lines in spreadsheet graphs to assist in forecasting

3.3 prepare the business presentation using suitable software and techniques to disseminate information effectively

3.4 produce a formal business report

LO4

Be able to use software generated information to

make decisions in an

organisation

4.1 use appropriate information processing tools

4.2 prepare a project plan for the market research activity and determine the critical path

4.3 use financial tools to aid decision making

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